PUBLISHER: Roots Analysis | PRODUCT CODE: 1821521
PUBLISHER: Roots Analysis | PRODUCT CODE: 1821521
As per Roots Analysis, the global roofing market size is estimated to grow from USD 88.38 billion in the current year to USD 146.9 billion by 2035, at a CAGR of 4.73% during the forecast period, till 2035.
The opportunity for roofing market has been distributed across the following segments:
Type of Material
Type of Application
Type of End-User
Geographical Regions
Roofing Market: Growth and Trends
Roofing encompasses the materials, methods, and techniques utilized to shield and safeguard a building's structure from outside elements like rain, sunlight, and severe weather conditions. The roof serves as an essential part of any construction, providing protection against weather variations as well as offering insulation and structural integrity. Therefore, the choice of roofing materials is vital in shielding various types of buildings depending on their climate conditions and aesthetic preferences. Currently, asphalt shingles and clay & concrete tiles are becoming increasingly popular as top roofing options for residences. In contrast, the rising demand for resilient and energy-efficient roofing products is propelling the growth of the roofing industry.
Additionally, there is a growing preference for robust, lightweight materials like metal and composite shingles that provide durability and reduced maintenance requirements, broadening the market's potential. Furthermore, as new trends emerge in the roofing materials sector, industry leaders are actively innovating and expanding their product offerings, including solar tiles, green roofs, and smart roofing solutions that combine technology with nature. As a result, owing to an increase in construction activities and a growing interest in solar roofing solutions, the global roofing market is projected to experience significant growth during this forecast period.
Roofing Market: Key Segments
Based on type of material, the global roofing market is segmented into asphalt shingles, clay & concrete tiles, metal, synthetic, wood shingles, and others. According to our estimates, currently, the asphalt shingles segment captures the majority of the market share. This growth can be linked to their affordability, durability, and ease of installation.
Based on type of application, the global roofing market is segmented into new construction and repair & replacement. According to our estimates, currently, the new construction application segment captures the majority of the market share, due to the surge in urbanization in various regions which has significantly boosted construction activities, particularly in housing construction.
In contrast, the repair & replacement segment is projected to grow at a higher CAGR throughout the forecast period. This can be attributed to the increasing need for upkeep and modernization of aging infrastructure. Additionally, the necessity for regular maintenance of residential properties due to severe weather conditions is further aiding the growth of this segment.
Based on type of end-user, the global roofing market is segmented into commercial, industrial, and residential. According to our estimates, currently, the residential segment captures the majority of the market share. This can be linked to the rising demand for new housing construction, renovation projects, and roof replacements. In addition, increased adoption of energy-efficient and solar-integrated roofing systems is accelerating market growth.
However, the commercial roofing segment is projected to grow at a higher CAGR throughout the forecast period. This can be attributed to the expansion of industries and greater business investment in durable, weather-resistant, and energy-saving roofing solutions for facilities such as office buildings and warehouses.
Based on geographical regions, the roofing market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to our estimates, currently, North America captures the majority share of the market, driven by the strong demand for both commercial and residential roofing, particularly across the US and Canada.
Additionally, the region's robust construction activity and high frequency of roof replacements in homes and commercial buildings are further fueling the growth of roofing and roof repair services.
Roofing Market: Research Coverage
The report on the roofing market features insights on various sections, including:
Key Questions Answered in this Report
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Additional Benefits