Press release
Roofing Market Size, Share, Growth, Outlook And Forecast Report To 2033
Roofing Market
The Business Research Company presents an extensive market research report on the Roofing Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The roofing market size has grown steadily in recent years. It will grow from $267.64 billion in 2023 to $277.42 billion in 2024 at a compound annual growth rate (CAGR) of 3.7%. The growth in the historic period can be attributed to construction and real estate growth, urbanization trends, climate and weather conditions, architectural styles and trends, maintenance and replacement needs.
The roofing market size is expected to see steady growth in the next few years. It will grow to $327.83 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. The growth in the forecast period can be attributed to sustainable and eco-friendly practices, resilience to extreme weather events, innovations in roofing materials, energy efficiency requirements, government regulations and building codes. Major trends in the forecast period include customization and aesthetic trends in roof design, integration of green roofing practices, shift towards lightweight and modular roofing solutions, emphasis on weather-resistant coatings and sealants, technological integration in roofing installation and maintenance.
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Key Market Players:
Major companies operating in the roofing market report are Hindalco Industries Ltd., ABC Roofing Company Inc., Owens Corning, Carlisle Companies Inc., Etex SA, GAF Materials Corporation, CertainTeed Corporation, BMI Group Services GmbH, Atlas Roofing Corporation, Tamko Building Products Inc., Duro-Last Inc., Best Roofing Services Corp., Apex Roofing Contractors Ltd., Champion Roofing & Construction Inc., Bob's Roofing & Repair Inc., Clear Choice Roofing Corp., Braas Monier Building Group Services S.A., Acme Roofing Solutions LLC, Dependable Roofing & Sheet Metal Ltd., Eagle Roofing Company Inc., Elite Roofing Specialists LLC, Excel Roofing Contractors Corp., First Choice Roofing Services Inc., Five Star Roofing Company LLC, Golden Eagle Roofing & Construction Corp., Guardian Roofing & Repair Ltd., Hamilton Roofing Specialists Inc., Integrity Roofing & Siding LLC, J&J Roofing Contractors Corp., Keystone Roofing & Construction Inc., Knight Roofing Services LLC, Precision Roofing & Construction Ltd., Pro Roofing Specialists Inc.
Market Drivers:
The increasing infrastructure development is expected to propel the growth of the roofing market going forward. Infrastructure refers to the construction of physical structures such as bridges, highways, roads, and sewage systems. Roofing is a must for every construction as it helps in protecting the building against rain, snow, sunlight, wind, and extremes of temperature. For instance, according to IIFL Holdings Limited, an India based financial services company, in the year 2021 Government of India allocated 1.89 billion in their union budget for the development of infrastructure in India through Atal Mission for Rejuvenation & Urban Transformation (AMRUT) and Smart Cities Mission. To have a faster infrastructure development it launched two new schemes known as Housing for All and Smart Cities Mission. Also, for the year 2021, according to India Brand Equity Foundation, an India based government agency, infrastructure activities accounted for a 13% share of the total FDI (Foreign Direct Investment) inflows of USD 81.72 billion. Therefore, the increasing infrastructure development is driving the growth of the roofing market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/roofing-global-market-report
The roofing market covered in this report is segmented -
1) By Type: Flat Roof, Slope Roof
2) By Roofing Material: Bituminous Roofing, Metal Roofing, Tile Roofing, Other Roofing Materials
3) By Application: Residential, Commercial, Non-Residential
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
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