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Technavio has announced its latest market research report titled Steel Building Market in MEA by Product, End-user, and Geography - Forecast and Analysis 2022-2026
Technavio has announced its latest market research report titled Steel Building Market in MEA by Product, End-user, and Geography - Forecast and Analysis 2022-2026
NEW YORK , May 6, 2022 /PRNewswire/ -- The Steel Building Market Value in MEA is set to grow by USD 476.41 million from 2021 to 2026, as per the latest report by Technavio. The report is compiled on research from a mix of primary interviews and secondary research, along with analytical tools that have been used to build the forecast and predictive models.
Technavio report will comprise of detailed analysis of emerging market trends, regional outlook, competitive landscape, and comprehensive analysis on different market segments helping you to plan your business strategies.
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Top Key Players of Steel Building Market in MEA Covered as:
Moreover, the market in MEA is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
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Steel Building Market Split in MEA by Product
The steel building market share growth in MEA by the PEB segment will be significant during the forecast period. The growth is attributed to the significant increase in the demand for PEB for single-story or low-rise multi-story industrial and commercial facilities as construction of a PEB involves lesser time and expense than a conventional concrete or steel building.
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Imperative Insights on the Following Aspects:
One of the key factors driving the steel building market growth in MEA is the advantages of PEBs over traditional buildings as they fulfill the demands of modern infrastructure. The construction industry is constantly advancing in terms of technology, owing to the rising demand for cost-effective, innovative, and fast-paced construction activities. PEBs are made of high-quality steel that can be recycled and reused, which makes these structures eco-friendly. These metal structures are easy to install, and the construction cost of these buildings is around 30%-40% lower than that of traditional buildings as PEBs require only welding and finishing of the prefabricated components. Thus, the construction cost of PEBs is around 25%-30% less than that of traditional buildings, which makes them cost-effective. These advantages are expected to increase the adoption of PEBs, thereby driving the growth of the market in focus during the forecast period.
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One of the key challenges to the steel building market growth in MEA is the low awareness and limited design flexibility in the residential sector. Unlike concrete buildings, steel buildings as residential houses and apartments do not need a foundation. However, low awareness among builders and buyers about the benefits of steel buildings in the residential sector and the high importance given to aesthetics during the construction of residential buildings is limiting the market growth. In addition, concrete buildings offer high flexibility for ad hoc changes during the construction period, unlike steel buildings. Thus, the demand for steel buildings from the residential sector is limited to affordable and remote location housing, though multi-story residential buildings usually require HRSS for the erection of steel structures for placing utilities such as HVAC systems and storage tanks. Such factors are expected to challenge the growth of the market in focus during the forecast period.
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Construction Market in EMEA by Type and Geography - Forecast and Analysis 2022-2026: The construction market share in EMEA is expected to increase by USD 557.63 million from 2021 to 2026, at a CAGR of 4.06%. To get more exclusive research insights: Download Our Sample Report
Construction Market in Spain by Application and Type - Forecast and Analysis 2022-2026: The construction market share in Spain is expected to increase by USD 14.54 billion from 2021 to 2026, at a CAGR of 3.5%. To get more exclusive research insights: Download Our Sample Report
Steel Building Market in MEA Scope
Decelerate at a CAGR of 8.87%
Leading companies, competitive strategies, consumer engagement scope
Al Shahin Co. for Metal Industries, Astra Industrial Group, Building System Integration Ltd., Mabani Steel LLC, Salam International Investment Ltd., Tamimi Group, Vibgyor International FZ LLC, Wsteel Structures Ltd., Yusuf A. Alghanim and Sons WLL, and Zamil Industrial Investment Co.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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