Witnessing a growth rate of 15-20%, aesthetics evolve as an apt USP trend for sustaining competitive market sphere, shares Sanjay Loya, Director, Loya Pre Engineered Buildings.
The concept of pre-engineered building (PEB) segments is increasingly gaining momentum in the Indian construction spectrum. Review us the growth pace of PEB sector witnessed in the year 2013?
The year 2013 posed numerous hurdles before the infrastructure and construction industry, wherein numerous infrastructure projects were held-up or delayed in execution process. The construction sector as a whole underwent a dwindling pace in the last fiscal. Yes, the impact of this overall slowdown was witnessed in the market pace of PEB segments. However, the rapid pace of technology and demand for on-time delivery of project has scaled up the importance of PEB structures, particularly the metal. The increasing utilization of steel has further escalated the prominence and market prospects of the steel buildings. The industry is currently progressing at an average growth rate of 15-20% per annum as against the last decade.
Has the demand for on-time, affordable and sustainable structures raised the market scope for PEBs today?
Cost and time are the two prime factors in a construction process. These elements along with the technology utilized can be considered as core determinants in delivery of sustainable structures and on-time completion of projects. The technical progress witnessed in the PEB sector has evolved this segment as an apt solution than the conventional buildings. Besides, the ease in installation saves the time and cost of construction and opens more positive prospects for the sector in the Indian market. Today the PEBs enjoy scope not only in the industrial and warehousing segment but in numerous infrastructure sectors like power, and even in small residential segments as well.
The technical advancements witnessed in the construction industry have raised the bars of aesthetic sense in the PEBs. Can this be considered as a new USP trend among the players involved in the sector?
The scope enjoyed by PEBs in the Indian construction market is enormous and is growing at a constant rapid pace. This enormous scope has opened the market for international players in expanding their presence in India, leading to an acute competitive market sphere. Sustaining this competitive market environment, involving both the national and international players, is a crucial operational aspect. The rising opportunities in the realty and infra-construction segments have boosted the importance of aesthetic essence today in the PEB structures. The concept is increasingly being outlined as an emerging trend or as a USP component, particularly among the smaller to medium level players involved in the PEB business.