Global Pre-Engineered Building Market to Grow at over 11% CAGR till 2024
Technological advancements
coupled with growing construction industry to bolster global pre-engineered
building market growth through 2024
According to a report published by TechSci Research on “Global Pre-Engineered
Building Market By Product, By Application, By Region, Competition,
Forecast & Opportunities, 2024”,
the global pre-engineered building market is predicted to grow at a CAGR of
over 11% during 2019-2024, on the back of the rising construction activities in
emerging economies. In addition, rise in number of e-retailers are resulting in
increased demand for warehouses, thereby further contributing to the growth of
the market. However, certain disadvantages associated with pre-engineered
building such as their susceptibility to corrosion, low thermal resistivity,
and reduced fire resistance are likely to hamper the market growth.
Browse market data Tables and Figures
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In terms of application, the global pre-engineered
building market is categorized into industrial, commercial and residential.
Among the applications, the commercial category is predicted to grow at a swift
pace during the forecast period. The growth of the commercial category is
majorly attributable to the ability of pre-engineered buildings to be
constructed in a short time coupled with low erection cost. Complex structure,
single source responsibility and low maintenance cost of pre-engineered
buildings are some of the other factors responsible for their increased
penetration in the commercial buildings construction.
Among regions, the Asia-Pacific region accounts
for a significant portion of the global market. The booming e-commerce industry
in Asia-Pacific countries such China and India has boosted the growth of
warehouse spaces, thereby bolstering the demand for pre-engineered buildings in
the region.
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“Global pre-engineered building market
is expected to grow at a decent pace over the course of next five years. The growth
in the market led by rising demand for additive manufacturing. The concept of pre-engineered
buildings has shaped up and evolved persistently. Moreover, growing
infrastructure investment and industrialization is further boosting the growth of
pre-engineered buildings market, globally. In addition, rapid industrialization
and expansion of the e-commerce industry in developing nations like India and
China are leading to a greater need for warehouses, which would fuel demand for
pre-engineered building market in the coming years.” said, Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Global Pre-Engineered Building Market By
Product, By Application, By Region, Competition, Forecast & Opportunities,
2024” has evaluated the
future growth potential of the global Pre-Engineered Building market and
provides statistics and information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global pre-engineered building market.
About
TechSci Research
TechSci Research is a leading global
market research firm publishing premium market research reports. Serving 700
global clients with more than 600 premium market research studies, TechSci
Research is serving clients across 11 different industrial verticals. TechSci
Research specializes in research-based consulting assignments in high growth
and emerging markets, leading technologies and niche applications. Our
workforce of more than 100 fulltime Analysts and Consultants employing
innovative research solutions and tracking global and country specific high
growth markets helps TechSci clients to lead rather than follow market trends.
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