Strong Demand for Lightweight Buildings to Favor India Pre-Engineered Buildings Market

Pune, India, July 2023, MRFR Press Release/- Market Research Future has published a Cooked Research Report on the Global India Pre-Engineered Buildings Market.

Industry Insight

The India pre-engineered buildings market will take a massive leap from USD 20.99 Billion in 2022 to an astounding USD 50.72 billion by 2030, at a rate of 11.66% between 2022 and 2030, believes Market Research Future (MRFR).

Pre-engineered buildings have long been a choice for building developers, but in recent years, their acceptance has grown significantly. The reason for this is that these structures may be altered to meet specific needs, and their flexibility creates a variety of solutions that maximize efficiency. In other words, they are adaptable and versatile. They are far more affordable than conventional constructions and may be built in less time and with less labor. Only lately have the potential advantages of pre-engineered buildings in India and the associated opportunities been understood. Their advantages will likely be more frequently recognized and used once they are well understood.

Prefabricated steel structures, which are made of high-quality steel and can be recycled up to 90% of the time, are said to be advantageous for the environment because they help significantly reduce carbon emissions. This is according to Indian PEB makers. simultaneously profitable commercially and environmentally. Leading PEB producers produce their goods using energy-efficient techniques, greatly reducing carbon dioxide emissions. Unlike concrete structures, these buildings don't produce any solid waste or add to pollution.

Rising interest in eco-friendly construction techniques is anticipated to support rising demand. To increase energy efficiency, many PEB manufacturers, for instance, have developed high-efficiency windows and insulation for roofs, walls, ceilings, and floors. Leading companies are growing into new sectors like engineering design, project contracting, the manufacturing of massive structural steel buildings, and an emphasis on vertical integration in order to diversify their business operations. A platform for inorganic growth as well as the expansion of both firms' geographic and product ranges is provided through merger and acquisition activity.

The product's extensive usage is the reason for the robust growth of the PEB market in India. PEB's market expansion can be ascribed to its adaptability for usage in infrastructure, business, and industrial projects. These projects all profit from its faster construction and lower costs without compromising aesthetic quality. In addition, a variety of government measures are contributing to the rapid growth of SEZs in India. 

Market Segmentation

With respect to material, the pre-engineered building market in India covers steel, aluminum, and other materials. The market's largest category, steel, generated 35% of the total revenue (7.34 billion). Steel is one of the materials that pre-engineered structures are most usually composed of, and its strength, durability, and affordability are what are driving category expansion in developing nations. 

Pre-engineered construction products include walls, roofs, floors, columns, and beams, among other things. In 2021, the walls segment led the market, and it is anticipated that throughout the projection period, this sector will develop more quickly.  

Applications of pre-engineered buildings in India include institutional, commercial, and residential settings. Due to the rising spending power of consumers, which has led to an increase in businesses in a short period of time, the commercial segment, which dominated the market in 2021, is predicted to develop at a higher rate over the forecast period.

Regional Insights

The construction industry in India is expanding quickly as a result of encouraging government policies, rising investments, and the accessibility of low-cost labor. It is anticipated that the demand for warehouses and distribution centers will increase along with the number of manufacturing facilities, fueling the construction of commercial buildings. Consequently, anticipated to support the country's market growth. Additionally, by raising demand for new construction projects, increasing infrastructure investments in fast-growing economies might assist to enhance the pre-engineered building (PEB) market. The requirement for additional buildings and structures to house the expanding population and support economic activity increases as economies develop. These include commercial, industrial, and agricultural buildings such as warehouses, factories, offices, and retail establishments.

Competitive Landscape

Tata BlueScope Steel (India), Era Infra Engineering Ltd (India), Everest Industries Limited (India), Pennar Industries Limited (India), Lloyd Insulations Limited (India), Kirby Building Systems (Germany), Interarch Building Products Pvt. Ltd (India), Jindal Buildsys Limited (India), Multicolor Steels Pvt. Ltd (India), SML Group (India), SmithStructures (India), and Tiger Steel Engineering (I) Pvt. Ltd (India) are the key industry participant listed in the study.

Access Full Report Details: India Pre-engineered Buildings Industry