The global construction industry is progressing incessantly by the gradual shift towards modular and prefabricated building techno
The global construction industry is progressing incessantly by the gradual shift towards modular and prefabricated building technologies adopted by various architects, civil engineers and builders. The demand for prefabricated steel building in the Americas market is surging rapidly and the trend is likely to continue over the upcoming years. The demand for the pre-engineered steel products in the various countries such as the U.S., Mexico, Canada, Brazil, and Argentina among others is witnessing a substantial increase. In these countries, a massive growth in the construction industry and renovation activities due to high population growth, and rising per capita income of the individuals is driving the prefabricated steel building market. Also, the factors such as increasing urban population and disposable income are stimulating the growth in the consumption of the steel building products.
With the increasing market penetration of modular and pre-engineered technologies in the various countries owing to the cost and time savings offered in the process, the global demand for prefabricated steel building parts is increasing. Also, increasing reliability in the building techniques owing to minimized weather related delays is allowing the builders across the Americas to embracing these technologies. Moreover, with the increasing demand of the swift construction of residential and commercial buildings has created an imperative need to use such technologies such as the concept of prefabrication, driven by increasing investments in the building & construction industry in the region.
Moreover, a shift towards sustainability and significant waste reductions, and the acquisitions of smaller companies are offering significant growth opportunities for the growth of the Americas prefabricated steel building market. The government have also realized the need and importance of these technologies and thus, their initiatives to promote sustainable technologies is expected to further drive the growth of the market. The growth of this market is driven by certain other factors such as:
• Growing Investments in the Building & Construction Industry
• Prefabrication Offering Enormous Savings in Time and Cost
• Increasing Reliability Owing to Minimized Weather Related Delays
However, there are certain challenges that are inhibiting the overall growth of the prefabricated steel building market:
• High Shipping & Transportation Barriers
• Low Penetration in High Rise Buildings & Customization Challenges
The Americas prefabricated steel building market is expected to grow from $1.20 million tons in the year 2016 to XX million tons by 2025 at a CAGR of 4.9% from 2016 to 2025, by consumption. Prefabricated buildings are manufactured and constructed in parts or components followed by transportation and assembling on-site to form the complete building. Prefabricated buildings are extensively used in industrial and many other non-residential constructions such as commercial, corporate, bridges, and warehouses. The use of prefabricated steel building results into reduced construction time, lower cost, flexibility to expansion, large clear spans, quality control, low maintenance, energy efficient roofing and wall systems, and architectural versatility , among others.
Steel is one of the most sustainable building materials and is being extremely preferred for pre-fabricated structures. This is due to its light-weight, superior strength-to-weight ratio, recyclability and other material properties of structural steel. Prefabricated steel buildings can be fitted with different structural accessories including modular components such as frames, panels, doors, roof, walls, windows, and ceilings, among others. These prefabricated steel building structures are adaptable structures and can be done internally or externally to serve any capacities and to accomplish appealing and exceptional designing styles.
The concept of prefabricated buildings has been adopted on a large scale, globally. In this study, the Americas prefabricated steel building market is segmented into Argentina, Bolivia, Brazil, Canada, Chile, Colombia, Costa Rica, Cuba, Dominican Republic, Ecuador, El Salvador, French Guyana, Guatemala, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, Paraguay, Peru, Suriname, the U.S., Uruguay, Venezuela, and others. The country share analysis of 25 countries have been done for the Americas prefabricated steel building market in 2016, based on consumption. The U.S. is the dominant country in the region followed by Canada, Mexico, Brazil, Venezuela, Argentina, and Colombia, among others. The construction market of the U.S. is one of the largest construction market in the world. The construction sector is expected to continue to grow as a number of infrastructural development projects in the energy, housing, and transportation sector are being initiated by the government
The key players operating in the Americas prefabricated steel building market are expanding and demonstrate an inclination towards adopting strategies such as product launch and development, and partnerships and collaborations. The companies adopt various strategies in order to gain and maintain their presence in the market. Some of the strategies adopted by these players include agreements, collaborations, contracts, joint ventures & partnerships, expansions, new product launches & developments, and mergers & acquisitions. Some of the established players in the market include Allied Steel Building, Kirby Building Systems, Acrow Bridge, Hormetal SA, Medabil, DORCE Prefabricated Building & Construction Industry Trade Inc., and Aceros Arquitectónicos, among others in the Americas prefabricated steel building market. The market is severely fragmented with the presence of innumerable small-sized to medium-sized companies that compete with each other and with the large enterprises. With the increasing growth in the global and regional markets, companies operating in this industry are compelled to come up with collaborative strategies in order to sustain in the intensely competitive market.