Page 72 - CO_February_2022

PRE-ENGINEERED BUILDINGS
LEAD STORY
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stores in the retail sector, industrial storage spaces and warehouses that is still more the exception than the norm today. As supply
demand has also increased. This has driven the requirement chain players advance along the learning curve, leading real-
of pre-engineered buildings as they are lucrative and more estate players that are prepared to make the shift and optimize
durable alternatives over conventionally constructed buildings. for scale can realize more than 20% in construction cost savings,
Additionally, pre-engineered building systems offer significant with additional potential gains in full-life costs (for instance, through
performance advantages such as a longer life cycle of building reducing running costs via energy and maintenance savings).
material, unlimited design flexibility, and reduced material and
labor costs. Key Market Drivers
Moreover, the emergence of pre-engineered green buildings Rising demand for pre-engineered buildings and components
has further bolstered market growth. These green buildings Structural steel is one of the major raw materials used to construct
are eco-friendly solutions with a low carbon footprint and thus pre-engineered buildings. The rising demand for pre-engineered
consume less energy during and post-construction. Additionally, buildings is expected to drive the market for structural steel
government initiatives towards the green building concept fabrication. The awareness among the Indian construction
for resource efficiency offer lucrative opportunities for the pre- companies to use structural steel in various commercial and
engineered buildings market. The steel and high recycled content residential construction activities is on the rise. The production
manufactured for pre-engineered structures help in reducing method of steel used for these structures helps substantially
greenhouse gas emissions without any wastage. Additionally, reduce greenhouse gas emissions. Moreover, after demolition,
water is not required in constructing these structures and prevents pre-engineered buildings and components, which are 90%
the use of bricks and cement. recyclable, do not significantly impact the environment to that of
PEB concept has been acting as a catalyst in infrastructure wastages, like asphalt, concrete, brick, and dust.
development globally. Single-storied houses for living take
minimum time for construction and can be built in any geographic Single-story segment to dominate the global pre-engineered
location such as extreme cold hilly areas, high rain prone areas, buildings market through 2024
plain land, extreme hot climatic zones, etc. The modular approach The single-story segment is accounted for the largest market share.
also has the potential to yield significant cost savings, although The demand for single-story pre-engineered buildings is driven by

76 CONSTRUCTION OPPORTUNITIES|FEBRUARY 2022