Pre-Engineered Buildings Market Size Worth $47.72 Billion By 2032 | CAGR: 11.10%

Pre-Engineered Buildings Market Size Worth $47.72 Billion By 2032 | CAGR: 11.10%

The global pre-engineered buildings market size is expected to reach USD 47.72 billion by 2032, according to a new study by Polaris Market Research. The report “Pre-Engineered Buildings Market Share, Size, Trends, Industry Analysis Report, By Structure (Single Story and Multi-Story), By Material, By Application, By Region, Segments & Forecast, 2024 – 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Pre-Engineered Buildings is expected to grow at the quickest rate over the forecast period owing to rapid industrialization and urbanization in emerging economies, that increases the adoption of pre-engineered building solutions. The market's growth is further supported by the rising need for warehouses owing to the rising penetration of e-commerce and the growing trend towards green buildings and use of sustainable building materials.

Pre-Engineered buildings (PEB) are metal enclosure structures made in a factory by a structural frame, standard roof, and wall support and are erected at the site. The complete designing of the building is done at the factory site, and the components are brought to the site in the knock-down condition. Compared to traditional infrastructures, the pre-engineered building offers many advantages, including reduced project construction time by about 50%, low cost, and easily expanded. Better quality controls need lower maintenance, energy-efficient roofing and wall systems, and architectural versatility.

For instance, Amazon has constructed many fulfillment centers using pre-engineered steel building systems. These buildings are designed to maximize space and efficiency for the storage and distribution of products. The Tesla Gigafactory in Nevada, which produces electric vehicle batteries and components, was constructed using pre-engineered building systems. The building has a footprint of 1.9 million square feet and is one of the largest pre-engineered buildings in the world.

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Some of the factors, expected to limit the growth of pre-engineered buildings market includes lower thermal conductivity, vulnerability to corrosion, and lack of fire resistance in pre-engineered buildings. Further, the market growth can be retarded by the fluctuating cost of raw materials and other demand-supply fluctuations constraints.

Report Highlights

  • The covid-19 pandemic had a negative impact on the pre-engineered buildings market owing to severe disruptions in manufacturing and supply chain operations due to precautionary lockdowns imposed by the government in various countries. In addition, the market was further hampered by the scarcity of migrant labor in construction sites and decreased demand for the real estate market among consumers during the pandemic.
  • The single story segment is anticipated to account for largest market share in 2022. Major reasons can be attributed by increasing non-residential infrastructure such as healthcare, recreational, educational, and retail has increased the demand for single-story pre-engineered buildings.
  • The steel segment is accounted to witness the fastest CAGR in the forecasted period owing to many advantages over traditional construction methods, including cost savings, quick construction time, durability, and versatility.
  • The strong consumer demand for various products has increased the growth of manufacturing, e-commerce, and logistics sectors over the last few years, supports the robust growth witnessed by warehouses and industrial segment.
  • Asia Pacific region is leading the market in terms of revenue share for the year 2022 and the coming years. The major factors for the region's growth are the upsurging demand for pre-engineered buildings from infrastructural development and non-residential construction in countries like China and India.

Polaris Market Research has segmented the Pre-Engineered Buildings Market report based on structure, material, application, and region:

Pre-Engineered Buildings Market, Structure Outlook (Revenue - USD Billion, 2019 - 2032)

  • Single-storey
  • Multi-storey

Pre-Engineered Buildings Market, Material Outlook (Revenue - USD Billion, 2019 - 2032)

  • Steel
  • Aluminium
  • Others

Pre-Engineered Buildings Market, Application Outlook (Revenue - USD Billion, 2019- 2032)

  • Commercial
  • Infrastructure
  • Residential
  • Warehouse and Industrial
  • Others

Pre-Engineered Buildings Market, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa