Compared to the traditional construction method, prefabricated construction saves time, cost and energy. In pre-engineered construction, the materials come in different segments and are assembled by skilled workers. Commonly used raw materials for prefab construction are gypsum, steel frames, wooden panel, etc. The prefab construction company will transport the finished product to the required place then finish the installation and hand over the building to the owner.
Benefits of Prefabricated Structures
- Cost-effective
- Safety & Security
- Consistent Quality
- Shorter Construction Time
- Nature Friendly
- Flexibility
- Decreased Site Disruption
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The global pre-engineered buildings market, as per the research conducted by Market Research Future (MRFR), is eligible for achievement of USD 177 billion valuation with 8.12% CAGR during the forecast period (2018-2023).
Manufacturing and assembling processes take place in two different sites; manufacturing far from the actual site, whereas, assembling happens on location.The pre-engineered buildings sector is gaining momentum owing to the technological advancement that is reducing the construction time quite remarkably.
The steel segment is anticipated to take charge of the global market in the coming years.
Features such as resistance to fire, moisture, termites, durability, low maintenance cost are favoring its market growth.Based on the end-use, the pre-engineered building market comprises commercial, industrial, and residential.
This leap would be the fastest among peers.Regional Analysis:Region-specific take of the pre-engineered building market reveals regions like Europe, North America, Asia Pacific (APAC), and the Rest-of-the-World (RoW).
In addition, in colder regions like the Northern Europe, these building have emerged as better alternatives.Competitive Landscape:Contributions made by influential companies are creating expansion scope for the global pre-engineered building market.