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The Business Research Company’s Roofing Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
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The roofing market size has demonstrated steady growth in recent years, projected to rise from $267.64 billion in 2023 to $277.42 billion in 2024, reflecting a compound annual growth rate (CAGR) of 3.7%. The growth during the historical period can be attributed to several factors, including the expansion of construction and real estate sectors, ongoing urbanization trends, varying climate and weather conditions, evolving architectural styles, and the increasing need for maintenance and replacement of roofing systems.
What Are the Market Size Estimates for the Global Roofing Market and Its Expected Growth Rate?
The roofing market size is anticipated to experience steady growth in the coming years, projected to reach $327.83 billion by 2028, with a compound annual growth rate (CAGR) of 4.3%. Factors contributing to this growth during the forecast period include the increasing adoption of sustainable and eco-friendly practices, enhanced resilience to extreme weather events, ongoing innovations in roofing materials, rising energy efficiency requirements, and the implementation of government regulations and building codes aimed at improving construction standards.
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What Are The Primary Growth Drivers Of The Roofing Market?
The growth of the roofing market is expected to be significantly driven by the rising infrastructure development in the coming years. Infrastructure encompasses the construction of essential physical structures, including bridges, highways, roads, and sewage systems. Roofing is a critical component of every construction project, providing essential protection against various elements such as rain, snow, sunlight, wind, and extreme temperatures. As infrastructure projects expand, the demand for roofing materials and solutions is likely to increase, supporting market growth.
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Who Are The Top Market Players Contributing To The Growth Of The Roofing Market?
Key players in the roofing market include Best Roofing Services Corp., Apex Roofing Contractors Ltd., Champion Roofing & Construction Inc., Bob’s Roofing & Repair Inc., Clear Choice Roofing Corp., Braas Monier Building Group Services S.A., Acme Roofing Solutions LLC, Dependable Roofing & Sheet Metal Ltd.
What Emerging Trends Are Affecting The Size Of The Roofing Market?
Key players in the roofing market are focusing on the development of innovative products, such as tiled roofs, to expand their customer base and boost sales and revenue. Tiled roofs consist of individual overlapping units known as tiles, offering aesthetic appeal and functional benefits. For example, in May 2023, Ruukki Construction, a Finland-based manufacturing company, introduced Ruukki Pohjalainen, showcasing their commitment to enhancing roofing solutions to meet evolving customer needs.
How Is the Global Roofing Market 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
Geographical Analysis: Asia-Pacific Emerges as the Roofing Market Leader
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is The Definition And Overview Of The Roofing Market?
Roofing involves the application of an external covering to the roof of a building, which can be either self-supporting or supported by underlying structures. The choice of roofing materials provides various benefits, including temperature regulation and waterproofing, ensuring the building is protected from environmental elements and contributing to its overall energy efficiency.
The Roofing Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Roofing Market Report: Trends, Opportunities, Strategies, and More
The Roofing Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into roofing market size, roofing market drivers and trends, roofing competitors’ revenues, and roofing market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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The Business Research Company has published more than 15,000 reports spanning 27 industries and over 60 regions. Our research is supported by 1.5 million datasets, thorough secondary research, and unique insights gained from interviews with industry experts. We offer ongoing and customized research services, featuring a variety of specialized packages designed to meet your specific needs, such as Market Entry Research, Competitor Tracking, Supplier & Distributor Packages, and many others.
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Oliver Guirdham
The Business Research Company
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Article originally published on www.einpresswire.com as Global Roofing Market 2024 To Reach $327.83 Billion By 2028 With A Growth Rate Of 4.3%