Global Roofing Market Size to Rise Worth US$ 140.4 Billion at CAGR 5.5% by 2033: Fact.MR Study

0
109

FACT.MR

According to Fact.MR, rapid advances in technology such as the introduction of green roofing and solar roofing materials are complementing the growth of the global roofing market.

ROCKVILLE, March 16, 2023 (GLOBE NEWSWIRE) — According to Fact.MR, a provider of market research and competitive intelligence, the global roofing market is valued at US$82.2 billion in 2023 and is expected to grow by 5.5% . from 2023 to 2033.

Roofs protect against sun, rain and other environmental influences. The materials used to construct the roofs of homes and commercial structures, including offices, hotels, and educational institutions, include asphalt shingles, metal, elastomers, roof tiles, modified bitumen, and plastic.

The main factors expected to drive the roofing market growth are technological advancements, increasing urbanization and developments in the construction industry. Demand for roofing products is also increasing due to technological improvements, including eco-friendly roofing materials, green roofs, and drones for roof inspections.

Download a free sample copy of this report – https://www.factmr.com/connectus/sample?flag=S&rep_id=8436

It is expected that government support for construction projects in the form of subsidies and tax incentives in developing countries will result in the roofing market growing significantly throughout the projected period. Governments in both developing and developed countries intend to give citizens incentives to replace old, inefficient roofs with new ones that use less energy. So, all of these aspects drive revenue growth.

Important insights from the market study

  • Roofing material sales are projected to reach $140.4 billion by 2033.

  • The roofing market in China is expected to grow at a CAGR of 7% during the forecast period.

  • Demand for metal roofing materials is expected to grow at a CAGR of 6.5% over the next 10 years.

  • The German roof market is expected to develop at a CAGR of 5% from 2023 to 2033.

The story goes on

“The rapidly growing world population and increasing infrastructure development around the world are driving sales of roofing materials,” says a Fact.MR analyst.

Key segments covered in Roofing Industry research

  • By product:

    • asphalt shingles

    • metal

    • elastomer

    • roof tiles

    • Modified bitumen

    • plastic

  • By roof type:

  • After application:

    • residential

    • Advertising

    • Industrial

  • By region :

    • North America

    • Latin America

    • Europe

    • East Asia

    • South Asia & Oceania

    • THING

Have this report customized for specific research solutions https://www.factmr.com/connectus/sample?flag=RC&rep_id=8436

Recent Market Developments

  • Tesla introduced a new type of solar roof tile in October 2019 to boost its renewable energy business. Solar Roof Version 3 uses different materials and some components from the previous generation to ensure it installs faster than other roof shingles.

  • ProVia introduced a range of metal roofing solutions in January 2021, combining the beautiful appearance of slate or cedar with the strength and durability of a high-tech galvanized steel roofing system.

Important companies in profile

  • Carlisle Companies, Inc.

  • Atlas Roofing Corporation

  • American Hydrotech, Inc.

  • Axter Ltd.

  • ARTWOOD SRL

  • Alton Industrial Pty Limited

  • Arkistruct Pty Ltd

  • blachotrapezium

  • Architectural Panels Pty Ltd

  • Asc Profiles, Inc.

  • Bilka Steel SRL

  • Alliance Design and Development Group, Inc.

  • Agway Metals Inc.

  • Boato International SPA With sole shareholder

  • Aluform System GmbH & Company KG

Discover our secure payment options for Quick Buy https://www.factmr.com/checkout/8436

More valuable insights on offer

In its new offering, Fact.MR presents an unbiased analysis of the global roofing market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).

The study provides essential market insights based on product (asphalt shingles, metal, elastomeric, roof tile, modified bitumen, plastic), roof type (flat roofs, pitched roofs) and application (residential, commercial, industrial) across five major regions of the world (North America, Europe , Asia Pacific, Latin America and MEA).

Check out other related studies published by Fact.MR Research:

market for building boardsThe global building panels market is growing at a CAGR of 6% and is expected to grow from US$177.9 billion in 2023 to US$318.5 billion by the end of 2033. The rapidly increasing urbanization and industrialization around the world are the main drivers of sales of building boards for construction purposes.

solar pump market The global solar pump market is growing at a stellar CAGR of 12.1% and is projected to grow from a valuation of $1.5 billion in 2023 to $4.7 billion by the end of 2033.

Cold store construction market The global cold storage construction market is valued at US$13.4 billion in 2023 and is projected to reach US$49.6 billion by 2033. Global demand for cold storage construction services is expected to grow rapidly at a CAGR of 14% over the next 10 years.

marine aggregates marketThe global market for marine generators is valued at US$5.3 billion in 2023. Global marine generator sales are expected to grow at a CAGR of 4.5%, reaching a market valuation of US$8.2 billion by the end of 2033.

Zonal Isolation Packer MarketThe global market for zonal isolation packers is estimated at US$2.3 billion in 2023 and is projected to reach US$3.8 billion by the end of 2033. It is estimated that the market will grow at a constant CAGR of 5.1% from 2023 to 2033.

About Us:

We are a trusted research partner of 80% of the Fortune 1000 companies around the world. We are constantly growing in the field of market research with more than 1000 published reports per year. The dedicated team of more than 400 analysts and consultants strives to achieve the highest level of customer satisfaction.

Specialties: Competitor Tracking, Custom Research, Syndicated Research, Investment Research, Social Media Research, Business Intelligence, Industry Analysis, Thought Leadership.

Contact:
US sales office:
11140 Rockville Pike
suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Link to author: Shubham Patidar
e-mail : shubham@factmr.com
Sales team : sales@factmr.com
Follow us: LinkedIn | Twitter | youtube

finance.yahoo.com

https://finance.yahoo.com/news/global-roofing-market-size-rise-190000996.html