Portland, OR, May 05, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global pre-engineered buildings industry garnered $12.56 billion in 2018, and is anticipated to reach $37.80 billion by 2026, with a CAGR of 14.5% from 2019 to 2026. The report offers a comprehensive analysis of the Industry dynamics, key market segments, market trends and estimations, top investment pockets, and competitive landscape.
Dropped cost & time needed for construction, increase in focus for affordable warehouse structures, and rise in demand for new construction activities boost the global pre-engineered buildings market. However, variations in raw material prices and possibility of corrosion impede the market growth. On the other hand, favorable government initiatives including green building concept to enhance resource efficiency offer lucrative opportunities to the market.
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The global pre-engineered buildings market is segmented on the basis of structure, application, and region. Based on structure, the market is bifurcated into single-story and multi-story. The single-story segment accounted for more than two-thirds of the total share of the global pre-engineered buildings market in 2018, and is estimated to maintain its dominance during the forecast period. However, the multi-story segment is estimated to witness the highest CAGR of 15.1% from 2019 to 2026.
Based on application, the market is divided into commercial and industrial. The commercial segment held the largest market share of the global pre-engineered buildings market, contributing to nearly three-fourths of the total revenue in 2018, and is expected to maintain its leadership status during the forecast period. However, the industrial segment is expected to portray the fastest CAGR of 15.3% from 2019 to 2026.
Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific held the largest market share based on revenue, contributing to more than two-fifths of the global pre-engineered buildings market in 2018, and is expected to maintain its lead position in terms of revenue during the forecast period. However, LAMEA is estimated to grow at the highest CAGR of 16.0% from 2019 to 2026.
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Key market players in the report include BlueScope Steel, Everest Industries, Interarch Building Products, Era Infra, Jindal Buildsys, Kirby Building Systems, Lloyd Insulations, PEB Steel Buildings, Tiger Steel Engineering, Zamil Steel.
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