About the Pre-Engineered Building (PEB) Market in India
The construction market in India has expanded significantly after the economic liberalization in the 1990s. The introduction of PEBs has improved the construction market in India. Additionally, with the increased approval of FDIs and the Make in India campaign initiated by the government of India, there has been a rise in the demand for infrastructure from all sectors in the country. However, the traditional construction methods have been unsuccessful in meeting the increased demand for infrastructure from sectors such as power, warehousing, fast moving consumer goods, automotive and logistics, and pharmaceuticals. The PEB technology originated in the US and was introduced in India by Middle Eastern vendors. One of the major challenges for adopting PEBs in India is the persisting trust in traditional construction methods. With the rise in the awareness of the advantages of PEBs, the demand for these products is gradually increasing in the country.
Technavio’s analysts forecast the pre-engineered building (PEB) market in India to grow at a CAGR of 16.15% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the pre-engineered building (PEB) market in India for 2016-2020. To calculate the market size, the study considers the revenue generated from the sales of PEBs in India.
Technavio Announces the Publication of its Research Report – Pre-Engineered Building (PEB) Market in India 2016-2020
Technavio recognizes the following companies as the key players in the pre-engineered building (PEB) market in India: Tata BlueScope Steel, Kirby Building Systems, Interarch Building Products, and Jindal Buildsys Limited.
Other Prominent Vendors in the market are: Era Infra, Everest Industries, Lloyd Insulations, Multicolor Steels, PEBS Pennar, SML Group, Smith Structures, and Tiger Steel Engineering.
Commenting on the report, an analyst from Technavio’s team said: “A trend which is boosting market growth is the increase in the demand for warehouses. With a rise in the number of e-retailers, the demand for warehouses is also increasing. Moreover, existing e-retailers are reporting exponential growth in their sales. In 2015, online sales accounted for 7.5% of the total retail sales globally and will reach 13% by 2020. To meet the supply demand, these e-retailers are constructing warehouses to enhance their distribution. PEBs offer the fastest method to construct warehouses compared to traditional methods, and the demand for PEBs in warehouse construction is rising.”
According to the report, a key growth driver is the ability to construct buildings in remote locations. While the conventional mode of construction is the most accepted construction method in India, it is not suitable for all terrains. However, PEBs can be erected in a wide variety of terrains. For example, constructing a building using conventional methods on mountainous terrain is more difficult when compared to constructing them on plains.
Further, the report states that one challenge that could adversely impact growth is the shortage of labor. The gap between available skills and required skills among the construction workforce in India has increased significantly over the past two decades.
Tata BlueScope Steel, Kirby Building Systems, Interarch Building Products, Jindal Buildsys Limited, Era Infra, Everest Industries, Lloyd Insulations, Multicolor Steels, PEBS Pennar, SML Group, Smith Structures, Tiger Steel Engineering.
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