“Global Pre-Engineered Buildings Market to reach a market value of USD 38.7 Billion by 2031 growing at a CAGR of 10.1%”
The Global Pre-Engineered Buildings Market size is expected to reach $38.7 billion by 2031, rising at a market growth of 10.1% CAGR during the forecast period.
The Asia-Pacific region is experiencing rapid urbanization, with millions moving from rural areas to urban centers in search of better economic opportunities. Thus, the Asia-Pacific region acquired 40.4% revenue share in the market 2023. This urbanization trend has increased demand for commercial, industrial, and residential infrastructure, driving the construction sector’s growth. PEBs offer cost-effective and efficient building solutions that cater to the needs of rapidly growing urban populations, making them a preferred choice for developers and investors in the region.
Modular construction methods involve prefabricating building components off-site in controlled factory environments. This off-site manufacturing process allows for simultaneous construction and fabrication, significantly reducing project timelines compared to traditional on-site construction methods.
Additionally, PEBs are designed using standardized components and systems that streamline manufacturing and construction. This standardization reduces cost by lowering design complexity, minimizing material waste, and maximizing manufacturing efficiency.
However, PEB construction requires specialized skills in welding, steel fabrication, structural engineering, and assembly techniques. However, a shortage of skilled laborers proficient in these skills makes finding qualified personnel for PEB projects challenging. Thus, skilled labor shortages are impeding the growth of the market.
On the basis of application, the pre-engineered buildings market is segmented into commercial and industrial. The commercial segment recorded 57.7% revenue share in the pre-engineered buildings market in 2023. Commercial buildings often have diverse design requirements to accommodate various functions, layouts, and branding elements.
Based on structure, the market is divided into multi-story and single-story. The multi-story segment acquired 39.3% revenue share in the market in 2023. The growing emphasis on sustainability and green building practices has increased the demand for PEBs in the multi-story segment.
Free Valuable Insights: Global Pre-Engineered Buildings Market size to reach USD 38.7 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the Europe region generated 24.3% revenue share in the market. Europe is at the forefront of renewable energy development, with significant investments in wind, solar, and other renewable energy projects.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 18.1 Billion |
| Market size forecast in 2031 | USD 38.7 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 10.1% from 2024 to 2031 |
| Number of Pages | 167 |
| Number of Tables | 240 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Structure, Application, Region |
| Country scope |
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| Companies Included | Interarch Building Products Pvt. Ltd., Zamil Steel Holding Company Limited (Zamil industrial investment co.), Tiger Steel Engineering LLC, Everest Industries Limited (Falak Investment Pvt. Ltd.), BlueScope Steel Limited, Lloyd Insulations India Limited, Kirby Building Systems (Alghanim Industries), Emirates Building Systems Co LLC (Dubai Investments PJSC), Mabani Steel LLC (Al Rajhi Holding Group), and ATCO Ltd. (Sentgraf Enterprises Ltd.) |
By Structure
By Application
By Geography
This Market size is expected to reach $38.7 billion by 2031.
Increasing modular construction trends are driving the Market in coming years, however,Skilled labor shortages restraints the growth of the Market.
Interarch Building Products Pvt. Ltd., Zamil Steel Holding Company Limited (Zamil industrial investment co.), Tiger Steel Engineering LLC, Everest Industries Limited (Falak Investment Pvt. Ltd.), BlueScope Steel Limited, Lloyd Insulations India Limited, Kirby Building Systems (Alghanim Industries), Emirates Building Systems Co LLC (Dubai Investments PJSC), Mabani Steel LLC (Al Rajhi Holding Group), and ATCO Ltd. (Sentgraf Enterprises Ltd.)
The expected CAGR of this Market is 10.1% from 2023 to 2031.
The Single-Story segment is leading the Market by Structure in 2023; thereby, achieving a market value of $22.8 billion by 2031.
The Asia Pacific region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $16.1 billion by 2031.
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