Press release
Pre-Engineered Buildings Market to Grow from $17.6B in 2022 to $46.6B by 2032
A recent report by Allied Market Research projects the global pre-engineered buildings (PEB) market, valued at $17.6 billion in 2022, to reach $46.6 billion by 2032, with a CAGR of 10.4% from 2023 to 2032.
Market Overview
Pre-engineered buildings are steel structures prefabricated in factories for efficient on-site assembly. Comprising walls, roofs, beams, columns, rigid frames, and steel plates, these buildings serve diverse applications, including hospitals, airplane hangars, warehouses, offices, shopping centers, distribution hubs, and retail stores. PEBs offer cost-effective and time-efficient alternatives to traditional construction methods.
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Key Drivers
The market is propelled by increased investments in infrastructure projects. Both public and private sectors are allocating substantial funds to develop and upgrade highways, airports, railroads, and industrial parks, driving demand for affordable, scalable building solutions. PEBs reduce construction timelines, minimize material waste, and lower overall project costs. Their modular design allows for easy customization and expansion, making them ideal for dynamic infrastructure needs. Technological advancements in construction techniques further enhance PEBs' appeal by offering sustainable, resilient solutions that align with modern infrastructure goals.
Key players are also expanding their operations to capture market growth. For instance, in March 2023, EPAC Prefab opened a new facility in HITEC City, Hyderabad, India, equipped with advanced technology and skilled staff to meet PEB demands, reinforcing its commitment to high-quality service in the region.
Materials and Efficiency
PEB construction utilizes materials like masonry blocks, roll-formed steel sheets, tensioned fabric, glass curtain walls, and precast concrete, which are cost-effective compared to traditional materials. Precast concrete is particularly popular due to its affordability and availability, while steel sheets and tensioned fabric further reduce costs. PEBs require minimal structural work, significantly shortening construction timelines. For example, PEB frameworks can be completed in 2-3 weeks, compared to 4-6 months for conventional brick-and-mortar structures. In May 2023, EPAC Prefab completed 3.2 million square feet of industrial facilities worth $24 million for major automotive companies in India, showcasing its capability to deliver large-scale PEB projects.
Challenges
A key challenge is the susceptibility of metal sheets used in PEBs to corrosion, especially when scratched or dented during early operations. This can reduce infrastructure lifespan, hindering market growth.
Opportunities
Government-led green building initiatives, aiming for energy-neutral structures, create opportunities for PEB manufacturers. These buildings, often made with recycled steel, minimize environmental impact by reducing greenhouse gas emissions and eliminating water use in construction. The shift toward eco-friendly materials aligns with the growing demand for sustainable construction, offering significant growth potential for the PEB market.
Market Segmentation and Regional Insights
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By Structure: The single-story segment led in revenue in 2022, while the multi-story segment is expected to grow at the highest CAGR through 2032.
By Application: The commercial segment was the top revenue contributor in 2022, with the industrial segment projected to exhibit the highest CAGR.
By Region: Asia-Pacific dominated in revenue in 2022 and is expected to maintain strong growth, while the LAMEA region is anticipated to register the highest CAGR during the forecast period.
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Key Findings
The report provides a detailed analysis of market segments, trends, and growth dynamics from 2022 to 2032.
Asia-Pacific remains the leading revenue contributor, with LAMEA showing the fastest growth potential.
Key players' strategies, including business expansion and technological innovation, are shaping the competitive landscape.
The PEB market is poised for significant growth, driven by infrastructure investments and sustainable construction trends.
Related Report
Advanced Building Materials Market https://www.alliedmarketresearch.com/advanced-building-materials-market-A16498
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry
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