PORTLAND, Oregon, March 9, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Pre-Engineered Buildings Market by Structure (Single-story and Multi-story) and Application (Commercial and Industrial): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global pre-engineered buildings industry generated $12.56 billion in 2018, and is estimated to reach $37.80 billion by 2026, witnessing a CAGR of 14.5% from 2019 to 2026.
Drivers, restrains, and opportunities
Lowered cost & time needed for construction, surge in focus for affordable warehouse structures, and increase in demand for new construction activities drive the global pre-engineered buildings market. However, fluctuations in raw material prices and possibility of corrosion hinder the market growth. On the other hand, favorable government initiatives such as green building concept to improve resource efficiency create new opportunities in coming years.
Download Sample Report: https://www.alliedmarketresearch.com/request-sample/3178
The single-story segment to maintain its dominance during the forecast period
Based on structure, 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. Factors including lack of access to affordable space & low-cost buildings and government initiatives such as green building concept boost the segment growth. However, the multi-story segment is estimated to witness the highest CAGR of 15.1% from 2019 to 2026, owing to ease in construction of multiple floors for offices, distribution centers, showrooms, restaurants, and service stations.
The commercial segment to maintain its leadership status during the forecast period
Based on application, 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. This is attributed to its cost-effectiveness, high durability, good strength, recyclability, and time saving benefits as compared to RCC building. However, the industrial segment is expected to portray the fastest CAGR of 15.3% from 2019 to 2026, owing to reduced construction cost by 40% and supportive government initiatives.
Asia-Pacific to maintain its lead by, North America to grow considerably
Based on region, 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. This is attributed to surge in population, versatility of transportation, rapid urbanization, and strong economic growth. However, LAMEA is estimated to grow at the highest CAGR of 16.0% from 2019 to 2026, owing to rise in demand for industrial and commercial infrastructure along with infrastructural developments in the region. North America is estimated to witness a CAGR of 14.2% during the forecast period.
For purchase enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/3178
Leading market players
Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access
Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.
Avenue Library Subscription | Request for 14 days free trial of before buying:
Pre-Book Now with 12% Discount:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free (USA/Canada):
1-800-792-5285, 1-503-894-6022, 1-503-446-1141
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Follow us on: https://www.linkedin.com/company/allied-market-research