The roofing industry is a major contributor to the global economy, with an estimated market size of $92.9 billion in 2020 and expected growth at a compound annual rate (CAGR) of 3.1% from 2021 to 2028. The commercial segment was the largest roofing market segment in 2020, accounting for over 57%. Asphalt shingles dominated the residential roofing market in the U.S., making up 64% of it in 2020 while North America held its position as being the largest regional roofing market worldwide that same year, worth $38.71 billion dollars.
Roof repair services are also big business; they make up a large portion ($47 billion) of this industry within just one country -the United States- where there were more than 101 thousand businesses operating by 2021 and employing 472 thousand workers during that same period according to IBIS World research data .
Metal roofs have been gaining traction lately due to their durability and energy efficiency properties which has led them into becoming increasingly popular among homeowners; metal roofs are projected to grow at a CAGR of 4.3%, between 2021 and 2026 according Grand View Research estimates . Green roofs have also seen significant growth potential with Allied Market Research predicting it will reach 21$7 million by 2025 while other materials such as tiles or coatings show promising figures too: tiles reaching 41$3 million by 2027 per AMR’s report ,and coatings 2$94 million by 2023 respectively .
India’s own share on this sector is not small either since its current value stands around 11$03 Billion USD ; however thermal insulation seems like an area ripe for development given Adroit Market Research forecasts expecting it growing at 267 % CAGR between now until 2024 when asphalt shingle waste accounts for 70 percent alone out all US generated material related waste according EPA reports . Finally Statista predicts sales revenue hitting 19 9 billions USD mark come 2022 so overall prospects look good despite some challenges ahead..
Roofing Industry Statistics Overview
The commercial segment was the largest roofing market segment in 2020, with a share of over 57.0%.
This statistic is a testament to the commercial segment’s dominance in the roofing industry in 2020. It highlights the importance of the commercial segment in the roofing industry and its ability to capture a majority of the market share. This statistic is a valuable insight into the roofing industry and provides a glimpse into the industry’s current state.
Asphalt shingles accounted for 64% of the residential roofing market in the U.S in 2020.
This statistic is a testament to the popularity of asphalt shingles in the residential roofing market in the U.S. in 2020. It highlights the fact that asphalt shingles are the go-to choice for many homeowners when it comes to roofing materials, and it is a useful piece of information for anyone looking to gain insight into the roofing industry.
Roofing repair is a $47 billion industry in the United States.
This statistic is a testament to the sheer size and scope of the roofing repair industry in the United States. It speaks to the immense economic impact of this industry, and the importance of roofing repair services to the American economy. It is a powerful reminder of the importance of roofing repair and the need for reliable, quality services.
There were over 101,000 roofing businesses operating in the United States in 2021.
This statistic is a testament to the sheer size and scope of the roofing industry in the United States. It speaks to the fact that roofing is a major industry, with a large number of businesses operating in the country. This statistic is a great starting point for anyone looking to gain a better understanding of the roofing industry and its current state.
Roofing, siding, and sheet metal contractors in the U.S. employ over 472,000 workers in 2021.
This statistic is a testament to the size and scope of the roofing industry in the United States. It highlights the sheer number of people employed in the industry, demonstrating the importance of roofing, siding, and sheet metal contractors to the U.S. economy. It also serves as a reminder of the potential for job growth in the industry, as well as the need for skilled workers to fill these positions.
Metal roofing is expected to grow at a CAGR of 4.3% between 2021 and 2026.
This statistic is indicative of the fact that metal roofing is becoming increasingly popular in the roofing industry, with a projected growth rate of 4.3% over the next five years. This is a clear indication that metal roofing is becoming a more viable option for homeowners and businesses alike, as it offers a range of benefits such as durability, energy efficiency, and cost savings. As such, this statistic is an important one to consider when discussing the roofing industry and its current trends.
The Indian roofing market size was valued at around $11.03 billion in 2019.
This statistic is a testament to the immense potential of the Indian roofing market. It highlights the fact that the roofing industry in India is a lucrative and growing sector, with a market size of over $11 billion in 2019. This statistic is a valuable insight for anyone looking to invest in the roofing industry in India, as it shows the potential for growth and profitability.
The thermal insulation segment of the U.S roofing market is projected to grow at a CAGR of 2.67% between 2020 and 2027.
This statistic is indicative of the potential for growth in the U.S roofing market, particularly in the thermal insulation segment. It suggests that the roofing industry is likely to experience a steady increase in demand for thermal insulation products over the next seven years, providing a lucrative opportunity for businesses to capitalize on. As such, this statistic is an important piece of information for anyone interested in the roofing industry, and could be used to inform decisions about investments, product development, and marketing strategies.
More than 70% of roofing waste generated in the U.S is attributed to asphalt shingle waste.
This statistic is a telling indication of the prevalence of asphalt shingle waste in the U.S roofing industry. It highlights the need for more sustainable roofing materials and practices, as well as the potential for reducing the amount of waste generated by the industry. This is an important point to consider when discussing the current state of the roofing industry and the potential for improvement.
The U.S roofing industry is projected to record sales of $19.9 billion in 2021.
This statistic is a testament to the immense potential of the U.S roofing industry. It shows that the industry is expected to experience significant growth in 2021, with sales projected to reach nearly $20 billion. This is a clear indication that the roofing industry is a lucrative and profitable sector, and one that is worth investing in.
The global silicone roofing coatings market is projected to reach $258.5 million by 2026.
This statistic is a telling indication of the potential of the roofing industry. It shows that the market for silicone roofing coatings is expected to grow significantly over the next few years, indicating that the roofing industry is a lucrative and growing sector. This statistic is a valuable insight for anyone interested in the roofing industry, as it provides a glimpse into the potential of the industry and the opportunities it presents.
In 2020, the European market for pitched roofing materials was $17.86 billion.
This statistic is a testament to the immense size of the European pitched roofing materials market. It highlights the potential for growth and investment in this sector, as well as the importance of staying up-to-date with the latest industry trends. It also serves as a reminder of the importance of roofing materials in the construction industry, and the need for reliable and quality materials.
By 2025, the global liquid roofing market is expected to reach a value of $7.48 billion.
This statistic is a testament to the immense potential of the global liquid roofing market. It shows that the industry is expected to experience significant growth in the coming years, making it an attractive investment opportunity for those looking to capitalize on the booming roofing industry. With such a large market size, it is clear that the roofing industry is a lucrative one, and this statistic serves as a reminder of that.
Conclusion
The roofing industry is a rapidly growing market, with the global roofing market size valued at $92.9 billion in 2020 and expected to grow at a compound annual growth rate (CAGR) of 3.1% from 2021 to 2028. The commercial segment was the largest roofing market segment in 2020, accounting for over 57%. Asphalt shingle roofs are still dominant in residential markets across North America and Europe, while metal roofs have seen an increase due to their durability and energy efficiency benefits.
Roof repair services remain strong as well, with U.S contractors generating sales of nearly $48 billion annually employing 472 thousand workers nationwide. Additionally, green roofs are becoming increasingly popular due to their environmental advantages such as improved air quality and reduced urban heat island effect; this has led the green roofing market projected reach $21.7 billion by 2025 globally along with other materials like tiles ($41 million), coatings ($2 million), elastomeric coating ($6 million) liquid applied membranes($7million). All these factors point towards continued growth for the global roofing industry into future years
References
0. – https://www.osidenews.com
1. – https://www.epa.gov
2. – https://www.researchandmarkets.com
3. – https://www.ibisworld.com
4. – https://www.adroitmarketresearch.com
5. – https://www.grandviewresearch.com
6. – https://www.gminsights.com
7. – https://www.thomasnet.com
8. – https://www.statista.com
9. – https://www.factmr.com
10. – https://www.mordorintelligence.com
