Pre-Engineered Buildings Market Trends

Market Driver - Rising Global Population and the Demand for Rapid Construction Solutions

More and more people are migrating to cities in search of better livelihood opportunities these days. This has put a lot of pressure on the existing urban infrastructures and is challenging the capacities of cities to accommodate the growing number of residents.

According to some estimates, there is a shortage of over 90 million housing units worldwide. This is where pre-engineered buildings have emerged as a game changer. They offer a high-speed solution to the construction needs. This helps in delivering projects much faster compared to the months taken by conventional building techniques. Their standardized and modular designs further assist in quick construction without comprising on quality.

Governments and real estate developers have been prompt in recognizing the advantages of pre-engineered buildings. Pre-engineered buildings are perfectly poised to meet this important need with their rapid deployment capability, thus gaining greater acceptability. This will continue to boost growth of the pre-engineered buildings market in the coming years.

Market Driver - Advancements in Construction Technology like AI and Automation

With newer digital construction solutions emerging, the construction industry is increasingly becoming technology-driven now. Technologies like artificial intelligence (AI), Internet of Things (IoT), robotics, 3D printing, digital twin etc. are transforming constructions processes.

AI in particular is revolutionizing how construction projects are planned, designed and delivered. Building Information Modelling (BIM) incorporated with AI improves design coordination and overlooks errors. During construction, robots powered by AI and automation are also taking over repetitive and hazardous jobs from humans. Sensors, drones and robotic cameras using IoT also ensure real-time remote monitoring of construction work progress on sites.

Prefabricated pre-engineered buildings are themselves being upscaled through cutting-edge robotics and 3D-printing technologies. This is encouraging greater use of prefabricated buildings as they promise even quicker construction delivery through mechanization, accelerating growth of the pre-engineered buildings market.

The amalgamation of smart construction tech and pre-engineered buildings is opening a whole new dimension of possibilities for facilitating fast track, optimized, and cost-effective construction.

Market Challenge - Need for Regular Maintenance of Pre-engineered Buildings

Pre-engineered buildings need regular maintenance due to their extensive use of steel structures. Being constructed from light gauge metal panels, these buildings are highly susceptible to corrosion if not properly maintained. Left unaddressed, corrosion can structurally compromise the buildings over the long run. Another maintenance challenge is the fire risk associated with pre-engineered buildings.

Proper maintenance through periodic painting and coating of metal surfaces is required to prevent corrosion. However, conducting such maintenance activities on large production facility buildings is costly and disrupts regular operations.

As pre-engineered buildings are made using inflammable materials like insulation and roofing membranes, the risk of fire hazards is higher compared to fire-resistant masonry constructions. Strict adherence to fire safety protocols is important through frequent checks and replacement of worn-out components. High maintenance needs drive up the overall ownership costs, creating a significant hurdle in growth of the pre-engineered buildings market.

Market Opportunity - Integration of Smart Building Technologies like IoT Sensors and Energy Management Systems

Growing adoption of digital technologies provides opportunities to address the maintenance challenges of pre-engineered buildings. Integration of IoT sensor networks within buildings can help monitor structural integrity on a real-time basis. Sensors to detect moisture, vibration and stresses can identify corrosion or damages at an early stage before it becomes a major problem. This allows for predictive maintenance planning, which is a new trend in the pre-engineered buildings market.

IoT sensors networked with building management systems can also continuously monitor various operational parameters related to fire safety such as temperature fluctuations, smoke detection. Immediate alarms can be triggered if any anomalies are noticed.

Energy management systems using IoT and analytics help optimize building operations through efficient control of power, lighting, and HVAC systems. This leads to lower energy costs as well reduced carbon footprint.

Overall, smart building technologies present opportunities to remotely monitor pre-engineered buildings, achieve preventive maintenance while improving operational efficiencies. When integrated well, they can offset some of the inherent maintenance challenges for players in the pre-engineered buildings market.