Global India Pre-Engineered Buildings Market Projected To Grow by 2023

 

The Indian pre-engineered buildings market is on a high growth trajectory owing to high growth of infrastructure, construction, and industrial sectors. With this, faster completion, ease of installation, expandability, flexibility in design, a recyclable material, workshop fabrication, and energy efficiency are the factors leading to augmented awareness level. Steel remains the primary construction material in the industrial segment. The penetration of Pre-Engineered Buildings in the building segment is slow and mainly concentrated on metro cities. Growing steel prices, workshop fabrication, availability of skilled workforce, and the high cost of the workforce are some of the critical factors of the market growth.

Get Free Sample Report@ https://www.marketresearchfuture.com/sample_request/2565

 

The rapidly mounting industrialization & urbanization in developing countries such as India, China, and Brazil compels the growth of the India pre-engineered buildings market. Furthermore, the demand for the construction of commercial complexes & buildings and workshops is high, in support of an increase in investment industries have also contributed to the market’s growth. In fact, growth in population and rapid urbanization also creates the need for pre-engineered buildings. In the case of point, back in April 2019, Metsä Group invested approximately US$2 billion in India pre-engineering buildings to expand its bio-product mill in Finland and Rauma.

Furthermore, other factors such as a surge in many e-retailers have also resulted in mounting demand for warehouses; thus, boosting the growth of the market to a great extent. However, disadvantages of structure such as thermal resistivity, reduced fire resistance, susceptibility to corrosion, and more could hamper the India pre-engineered buildings market growth in the forecast period.

Yet, on a positive note, government initiatives toward green building concept for resource efficiency tender lucrative opportunities for India pre-engineered buildings market during the forecast period. The steel and high recycled content made for pre-engineered structures assist in reducing greenhouse gas emissions without any wear and tear.

Segmentation of Market

The India pre-engineered buildings market has further been segmented over material, products, and applications. 

Based on the material segment, the India pre-engineered buildings market has included aluminum and steel. Where the steel segment might lead the market during the forecast period owing to the prefabrication of steel for construction that posses several benefits such as speeding of construction up to 50%, reduces wastage, and high level of quality control. Such factors are probable to create a significant demand for steel.

Based on the products segment, the India pre-engineered buildings market has included columns & beams, walls, roofs & floors. The roofs & floors segment might hold the maximum market share.

Based on the application segment, the India pre-engineered buildings market has included commercial, residential, and industrial. The residential segment can hold the maximum market share in support of surging investment inflow, majorly with the increasing population coupled with rapid urbanization. Such a drastic change has further enhanced the need for residential buildings in India.

 

Regional Outlook

A high increase in commercial infrastructure projects China and India to drive the India pre-engineered buildings market. Asia-Pacific had the largest share in the global market in terms of revenue in 2018. Therefore, the developing economies, such as China, India have notably supported market expansion with the increase in demand for construction activities. In the case of point, in October 2019, Saudi Arabia based Zamil Steel, a PEB company, prolonged its Ranjangaon plant to raise its production capacity. The expansion aims to boost its customer base in the Asia-Pacific region.

 

India is the fastest-growing market in the India pre-engineered buildings with a segment of 9.5%, ahead of China at 8.5%. The Industry size of Pre-Engineered buildings in India is $0.38 billion.

Top Market Players

 

The top market players in the India pre-engineered buildings market are listed as Era Infra Engineering Ltd (India), Tata BlueScope Steel (India), Pennar Industries Limited (India), Everest Industries Limited (India), Kirby Building Systems (Germany), Lloyd Insulations (India) Limited (India), Jindal Buildsys Limited (India), Interarch Building Products Pvt. Ltd (India), SML Group (India), Multicolor Steels (India) Pvt. Ltd (India), Tiger Steel Engineering (I) Pvt. Ltd (India) and SmithStructures (India).

 

FOR MORE DETAILS:
https://www.marketresearchfuture.com/reports/india-pre-engineered-buildings-market-2565

About Us:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.