The Roofing Global Market Report 2023 by The Business Research Company, provides roofing market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Roofing Global Market Report 2023, the market size is expected to grow from$151.80 billion in 2022 to $161.36 billion in 2023 at a compound annual growth rate (CAGR) of 6.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of roofing is expected to grow to $193.26 billion in 2027 at a CAGR of 4.6%.
he 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
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The roofing market 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”
New technological innovations have emerged as the key trend gaining popularity in the roofing market. Major companies operating in the roofing market are focused on new technological innovations to sustain their growth in the market. For instance, in January 2022, GAF, a US-based company that manufactures solar roofs launched its new solar roof called Timberline Solar based on solar roof technology. This helps in generating energy by using sunlight and this energy can be used for household purposes. This is very easy to install and it is most cost-effective. Solar roofs are the future of clean energy, and Timberline Solar is the game-changing innovation in this market
The roofing market report table of contents includes:
1. Executive Summary
2. Roofing Market Characteristics
3. Roofing Market Trends And Strategies
4. Roofing – Macro Economic Scenario
5. Roofing Market Size And Growth
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26. Africa Roofing Market
27. Roofing Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Roofing Market
29. Roofing Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
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