Press release
Steel Roofing Market Opportunity Analysis and Industry Forecast to Reach $17.5 billion by 2032
According to a new report published by Allied Market Research, titled, The steel roofing market size was valued at $10.7 billion in 2020, and is estimated to reach $17.5 billion by 2032, growing at a CAGR of 4.2% from 2023 to 2032.Increasing population and urbanization are the main elements driving demand for residential and non-residential buildings. This positively influences the steel roofing market.
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Driiving Factors:
The market is particularly driven by the increase in the industrial and residential construction sector, recovery in the construction industry, and growth in spending on domestic building reworking and building preservation activities. However, fluctuations in raw materials costs constrain the boom of the marketplace. On the other hand, the growing demand for environmentally sustainable homes is predicted to offer profitable opportunities for the steel roofing market growth.
Commonly, the fastening types of metallic roofing including steel roofing are exposed and concealed fastened steel roofing. Exposed fastened roofing has its fasteners visible on the surface of the roof. This form of roof is low cost and easy to put in; however, the possibility of water seepage from the roof is higher.
Contrarily, the possibility of leakage is much less with the concealed fastened roof; but, this roofing is more steeply-priced than the other alternative. Thus, attributable to the affordability of exposed fastened steel roofs, its proportion in total revenue generated in 2020 was more. On the other hand, because of the better aesthetics of concealed fastened roof, it's growth is predicted at a better CAGR during the forecast duration.
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Steel Roofing Market Report Highlights -
By Fastening Type -
Exposed Fastened
Concealed Fastened
By Distribution Channel -
Online
Offline
By End User -
Residential
Non-Residential
By Region -
North America (U.S., Canada, Mexico)
Europe (Germany, France, UK, Italy, Rest of Europe)
Asia-Pacific (China, Japan, South Korea, India, Rest of Asia-Pacific)
Latin America (Brazil, Argentina, Colombia, Rest of Latin America)
Middle East and Africa (Saudi Arabia, UAE, Nigeria, Egypt, Rest of Middle East And Africa)
Key Findings Of The Study:
The report provides an extensive analysis of the current and emerging steel roofing market trends and dynamics.
Depending on the fastening type, the exposed fastened segment dominated the steel roofing market, in terms of revenue in 2020.
By distribution channel, the offline segment accounted for the highest market share in 2020.
By end user, the residential segment is anticipated to grow with a higher CAGR during the forecast period.
Asia-Pacific is projected to register the highest growth rate in the coming years.
The key players within the steel roofing market are profiled in this report, and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the steel roofing industry.
The report provides an extensive analysis of the current trends and emerging opportunities in the market.
In-depth steel roofing market analysis is conducted by constructing estimations for the key segments between 2023 and 2032.
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About Us:
Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.
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