The report forecasts the global PEB market to grow at a CAGR of 11.96% during the period 2016-2020.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
A key trend which is contributing to market growth is the increase in 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. Online sales accounted for 7.5% of the total retail sales globally in 2015, and they 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 time and cost savings offered by PEBs. The primary and secondary framing structures of a PEB are pre-punched, pre-sheared, pre-welded, predrilled, and pre-formed in the factory before it is shipped to the job site. Since the structural parts are manufactured completely under controlled factory conditions, the quality of the structure is assured. The prefabricated components are assembled with bolt connections at the job site.
Further, the report states that one challenge that could curtail market growth is the fluctuating raw material prices.