It’s big and growing bigger
“We estimate that the organised steel building solutions market, spanning pre-engineered buildings and smart steel (light-gauge steel frames), is worth over Rs 6,000 crore annually and growing rapidly,” says S Krishnakumar, CEO, Building Solutions, Everest Industries. “If you also take into account the unorganised segment, the market would be much bigger.”
“The pre-engineered building market is expected to demand over 600,000 mt of steel per annum,” reckons D Raju, Managing Director, Kirby Building Systems & Structures India.
Undeniable proof of the evolution of steel buildings as a strong alternative to conventional construction is the fact that the pre-engineered building industry has grown to enjoy 45 per cent market share within the construction industry, according to Piyush Nahar, General Manager, Marketing, Tata Bluescope Steel.
And Nikhil Bothra, Director, Epack Polymers, pegs the share of pre-engineered buildings in the overall construction industry at 33 per cent.
Gautam Suri, Founder, Interarch Building Products, notes that the demand for pre-engineered buildings in India has been growing in double figures year on year. He cites industry predictions that the market will grow at 11.63 per cent CAGR to reach $ 3.56 billion by 2020.
Krishnakumar expects the organised segment of the industry to grow at 15 per cent in coming years.
Bothra expects anywhere between 10 and 20 per cent annual growth based on market predictions; essentially the pre-engineered structure segment will grow faster than the Indian steel industry and the construction sector.