Market Research Report
Global Roofing System Market Size study, by Material, Product, Construction type, End Use sectors and Regional Forecasts 2019-2026
|Published by||Bizwit Research & Consulting LLP||Product code||917005|
Delivery time: 2-3 business days
|Global Roofing System Market Size study, by Material, Product, Construction type, End Use sectors and Regional Forecasts 2019-2026|
|Published: November 10, 2019||Content info:||
Global Roofing System market is valued approximately USD 116.40 billion in 2018 and is anticipated to grow with a growth rate of more than 3% over the forecast period 2019-2026. The term roofing system is referred to the air barrier or vapor retarder, roof insulation, roof membrane, flashing and accessories. The factors driving the growth of market over the forecast years are rise in construction and infrastructure activities due to the increase in disposable income and rebound in non-residentialWhereas, the high cost associated to the raw material and installation are the factors hampering the growth of market over the upcoming years. However, rise in population and urbanization, increasing demand for sustainable roofing material and growing emerging market are the key factors for the lucrative growth opportunity of the market. For instance: According to the Association of Equipment Manufacturer, the U.S construction industry is estimated to grow with 1% annually and it is found that increase of 1.1% in 2017 and 1.9 percent in 2018. Similarly, as per the National Investment Promotion & Facilitation Agency, the construction industry in India is expected to reach up to USD 738.5 billion till 2022. Thus, the rise in construction industry across the globe accelerate the growth of market over the forecast years.
The regional analysis of Global Roofing System Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America accounts for the largest share in the global roofing system market due to the rising demand for the residential sector, rising manufacturing industries and growing government initiative for the development of social infrastructure. Whereas, Asia Pacific is the fastest growing region in the roofing system market due to the presence of large developing economies such as India, China and Japan coupled with government initiative for rising construction sector.