DUBLIN, Sept. 22, 2022 /PRNewswire/ -- The "Prefabricated Building and Structural Steel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global prefabricated building and structural steel market size reached US$ 206.8 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 299.4 Billion by 2027, exhibiting a CAGR of 6.36% during 2021-2027.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sector. These insights are included in the report as a major market contributor.
Prefabricated Building and Structural Steel Market Trends:
Significant growth in the construction industry, an increase in infrastructural activities, and technological advancements in the construction process represent one of the key factors positively influencing the market. In addition, rising awareness among individuals about the benefits of using prefabricated material and structural steel, such as flexibility, durability, energy efficiency, and faster completion, is creating a positive outlook for the market.
Apart from this, the expansion of hotels, institutes, shopping complexes, and high-rise buildings is catalyzing the demand for these materials to enhance the durability of infrastructure. In line with this, the widespread adoption of prefabricated materials in temporary construction facilities, office spaces, medical camps, evacuation centers, schools, apartment blocks, and single-detached houses is offering lucrative growth opportunities to manufacturers.
Furthermore, the shifting focus toward waste management and minimizing harmful emissions are increasing the adoption of green building practices, which, in turn, is driving the demand for these materials. Moreover, the increasing traction of smart cities is catalyzing the demand for prefabricated buildings and structural steel, which is expected to propel the market growth.
Key Market Segmentation
Breakup by Component:
Floors and Roofs
Panels and Lintels
Breakup by End-Use Sector:
On the basis of the end-use sector, the prefabricated building and structural steel market has been segmented into residential, institutional, commercial, and industrial.
Breakup by Region:
Middle East and Africa
The Asia Pacific enjoys the leading position in the market due to the growing population and the rising awareness among individuals about the benefits of constructing green buildings in the region.
Key Topics Covered:
2 Scope and Methodology
3 Executive Summary
5 Global Prefabricated Building Market
6 Global Structural Steel Market
7 Global Prefabricated Building Market: Performance by Component
8 Global Structural Steel Market: Performance by Component
9 Global Prefabricated Building and Structural Steel Market: Performance by End-Use Sector
10 Global Prefabricated Building and Structural Steel Market: Performance by Region
11 SWOT Analysis
12 Value Chain Analysis
13 Porters Five Forces Analysis
14 Competitive Landscape
15 Key Player Profiles
For more information about this report visit https://www.researchandmarkets.com/r/r08qda
Research and Markets
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SOURCE Research and Markets