According to the latest report by IMARC Group, titled “Prefabricated Building and Structural Steel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market is currently witnessing strong growth. The global Prefabricated Building and Structural Steel Market to exhibit moderate growth during the next five years. Prefabricated buildings are structures that are constructed off-site by manufacturers and installed at the site depending upon the preferences of the consumers. Prefabricated buildings are considered ideal for operations that require temporary structures, short construction time or comparatively lower building costs. On the other hand, structural steel refers to a construction material made of a particular steel grade, cross section or shape depending on the application. The superior strength, toughness, stiffness and ductile properties of structural steel make it a suitable alternative to wood and concrete for applications in warehouses, refineries, cold storage, industrial sheds and aircrafts.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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Market Trends:
There has been a significant rise in the number of special economic zones across the globe where new corporate offices are being constructed. Prefabricated buildings are preferred in these zones for their ease of construction and easy setup. Moreover, with robust growth in the construction activities across the globe, builders are looking for convenient alternatives to conventional construction. The consequent demand for prefabricated buildings in the industrial and institutional sectors is providing a thrust to the market growth. However, negative perceptions regarding the strength of prefabricated buildings are impeding the market.
Similarly, the escalating demand for structural steel can be accredited to the increasing awareness among consumers regarding the flexibility of the material. Additionally, it is being used in the construction of both residential and non-residential buildings across several developing regions like India, Middle East, Mexico, etc. Along with this, the rising environmental concerns have prompted the manufacturers to produce technically advanced steel products which are helpful in reducing scraps and waste. However, the market is expected to be negatively affected by high capital expenses as well as expensive corrosion and fireproof treatment of structural steel components.
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Prefabricated Building and Structural Steel Market Segmentation:
Our report has categorized the market based on Region, Component and End-Use Sector.
Market Breakup by Component:
- H-Type Beam
- Columns
- I-Type Beam
- Angles
- Others
Market Breakup by End-Use Sector:
- Residential
- Institutional
- Commercial
- Industrial
Market Breakup by Region:
- North America
- Asia Pacific
- Europe
- Middle East and Africa
- Latin America
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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