The pre-engineered buildings market is projected to grow from USD 14.5 billion in 2019 to reach USD 25.0 billion by 2024, at a CAGR of 11.5% from 2019. Factors such as the increasing demand for green buildings and need for reducing construction time and cost, along with the demand for lightweight building structure, drive the pre-engineered buildings market.

Ask for free sample report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=128289566

The warehouses & industrial segment is projected to grow at the highest CAGR in the pre-engineered buildings market during the forecast period

The warehouses & industrial segment is projected to grow at the highest CAGR during the forecast period. This is attributed to the development of factories, production plants, R&D centers, and warehouses, because of the growing manufacturing sector and industrial expansion in developed and developing regions. Further, the growth of the retail and e-commerce industry generates the demand for warehouses, supermarkets, and distribution centers, thereby supporting the pre-engineered buildings market growth.

Recent Developments

• In March 2019, Nucor Corporation has planned to expand its steel plate production capacity by building a steel plate mill in Brandenburg, KY, US. The company has planned an investment of USD 1.35 billion in the mill. This mill has a planned production capacity of 1.2 million tons of steel products per annum. This is expected to strengthen the company’s steel plate product portfolio, which is further expected to support its pre-engineered buildings production, as steel plates are used as a raw material to manufacture pre-engineered buildings.
•  
• In August 2017, Zamil Steel Pre-engineered Building Company signed a contract with Agility Kuwait to build four air-conditioned warehouses in Mina Abdullah, Kuwait. This contract was valued at USD 6.7 million. Under this contract, the company would provide 4,600 metric tons of pre-engineered steel buildings and over 100,000 square meters of sandwich panels.
•  
• In February 2016, Everest Industries built a 4.5 lac sq. ft. exhibition center, India Exposition Mart, in Greater Noida, India. This project was completed in 180 days and was valued at USD 5.22 million. This product launch is expected to enhance the company’s product portfolio.

The key players operating in the pre-engineered buildings market include BlueScope Steel (Australia), NCI Building Systems (US), Nucor Corporation (US), Kirby Building Systems (Kuwait), Zamil Steel Holding Company (Saudi Arabia), ATCO (Canada), Lindab Group (Sweden), PEBS Pennar (India), PEB Steel Buildings (Vietnam), and Everest Industries (India). These players have adopted various growth strategies to expand their global presence and increase their market share.