Impact of Covid-19 Outbreak on Pre-Engineered Buildings Market

05/ago/2020 10:48:30 Automotive Market Research Reports Contatta l'autore

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The demand for pre-engineered buildings has built up over the years as its applications have grown steadily. Market reports linked with the construction technology industry have been presented by Market Research Future which makes reports on other industry verticals that aims to analyze the current market scenarios better. The market is expected to progress at an incremental CAGR in the forecast period.

The key demand motivator for the pre-engineered buildings market is warehouse structures that require limited or no columns in the entire structure. The sharp uptick in e-commerce activities have created the need for storage facilities such as warehouses, thus indirectly motivating the demand for pre-engineered buildings. The market is significantly buoyed by the reduced construction costs and diminished need for maintenance. The increased number of contenders in the pre-engineered buildings market is expected to lead to the growth of the product offering in the forecast period.

Segmental Analysis

The segmentation of the pre-engineered buildings market globally is done on the basis of end-use, material, and region to gain a clearer perspective of the market. Based on material, the pre-engineered building market is segmented into aluminum, steel, and others. Based on the end-use, the pre-engineered building market is segmented into commercial such as showrooms and offices, industrial such as warehouses and factories, and Infrastructural such as airport hangers bridges and railway platforms. The regions included in the pre-engineered building market are APAC, North America, Europe, and Rest of the World.

Detailed Regional Analysis     

The region-based analysis of the pre-engineered building market includes regions such as APAC, North America, Europe, and Rest of the World. The Asia Pacific region is found to be a key region directing the expansion of the pre-engineered buildings market with its fast-growing market globally. The region is expected to show formidable growth fuelled by a good CAGR over the forecast period. The development in the Asia Pacific region is likely to display speedy economic and infrastructural growth in the coming years. The escalated level of investments in the nations of China and India have motivated the construction sector in the region. Moreover, the inflow of foreign investment in India is additionally projected to augment the market for pre-engineered building in the upcoming period.

Competitive Analysis

The advent of new technology has boosted the growth potential of the market. The market trends hint at favorable development of the products that can bring in novelty to the product range and address the customer need better. The presence of a productive entity is expected to generate more sales or superior margins compared to its market rivals. Substantial cutbacks in administrative finances are bringing further development to the market. The market shows potential for demonstrating a greater comparative or differential value. The market competitors find themselves in a favorable position with the ability to manage the pace of change. The development of a strong value chain is moreover motivating the expansion of the market.

The significant companies in the pre-engineered buildings market globally are Tiger Steel Industries LLC, Kirby Building Systems, BlueScope Steel Ltd., Everest Industries Ltd., Interarch Building Products Pvt. Ltd., Jindal Buildsys Limited, Era Infra Engineering Ltd, Pennar Engineered Building Sytems Ltd, PEB Steel Buildings Co. Ltd., Zamil Steel Holding Co. Ltd., and Multicolor Steels India Pvt. Ltd.

Industry Updates:

Jan 2019 Nova Buildings Group has confirmed the procurement of BlueScope Buildings’ key fabrication assets at Bien Hoa City, Vietnam. The fabrication plant situated about 30 kilometers from Ho Chi Minh City and is slated to begin operations in the new year, directed by key operational team members who had previously supervised facilities under BlueScope Buildings. The plant will also serve as Nova Buildings’ main manufacturing hub for the supply of pre-engineered buildings throughout southeast Asia.

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