North America Roofing Market Forecast by Type (Shingle Roofing, Tile Roofing, Engineered Solution Roofing, Paneled Roofing, and Structural Concrete Roofing), Material Type (Metal, Wood, Clay and Slate, Asphalt, Concrete, and Membrane), Roof Type (Flat Roof and Slope Roof), and Application (Residential, Commercial, and Industrial): Opportunity Analysis and Industry Forecast, 2018–2025
The North America Roofing market size was $29,864.4 million in 2017, and is projected to reach $47,517.8 million in 2025, growing at a CAGR of 5.9%. A roof is the uppermost part of a building, which shields the building from rain, heat, snow, sunlight, and wind. The roofing market includes various types of roofing such as asphalt roofing, metal roofing, tile roofing, and others.
The North America roofing industry experiences growth owing to various factors such as rise in construction industry, rapid urbanization, and technological innovations, which drive the growth of the market. According to the reports from the World Urbanization Prospect, about 54% population belonged to urban areas in 2014, which is projected to reach 66% by 2050, thereby fueling the market growth. Furthermore, rise in standard of living of people boosts the demand for re-roofing construction projects. Rise in air pollution, loss of biodiversity and increase in formation of urban heat island are the factors that make way for green roof technology to decrease environmental degradation.
Major players are producing high-quality and high-performance roofing to ensure energy efficiency, thereby stimulating the growth of the market. For instance, Boral offers different types of roofing such as clay, concrete, composite, and steel roofing that meet or exceed the Energy Star reflectivity threshold, and makes buildings more energy-efficient and consequently, more comfortable during the entire year. Hence, augmented energy saving by use of high quality and high-performance roofing is estimated to drive the North America roofing market growth. However, shortage of skilled tradespeople is one of the major challenges faced by the North America roofing industry. On the contrary, technological improvements are anticipated to offer lucrative opportunities for the players in the North America roofing market.
The North America Roofing market is segmented based on type, roof type, material type, application, and country. Based on type, the market is divided into shingle roofing, tile roofing, engineered solution roofing, paneled roofing, and structural concrete roofing. The shingle roofing segment is anticipated to dominate the North America Roofing market throughout the study period in terms of value. Based on roof type, the market is bifurcated into flat roof and slope roof. The flat roof segment is anticipated to dominate the North America Roofing market throughout the study period in value terms. Based on material type, the market is divided into metal, wood, clay and slate, asphalt, concrete, and membrane. In terms of volume, the asphalt type is estimated to hold a major share of the North America Roofing market throughout the study period.
On the basis of application, the market is categorized into residential, commercial, and industrial. The residential segment is expected to dominate the market during the forecast period. Based on country, the North America roofing market is analyzed across the U.S. and Canada. U.S. is expected to dominate the market throughout the forecast period due to rise in income levels, rapid urbanization & industrialization, and increase in government initiative to invest in infrastructure development. The key players profiled in this report include Beacon Roofing Supply, Inc., Berkshire Hathway, Bridgestone Americas, Carlisle Companies Incorporated, CertainTeed (Saint Gobain), FiberTite (Seaman Corporation), GAF Materials Corporation, IKO Industries, Owens Corning, and Sika Group.
KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the North America Roofing market, and current & future trends to elucidate the imminent investment pockets.
Information about the key drivers, restraints, and opportunities and their impact on the market is provided.
Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
The quantitative analysis of the market from 2017 to 2025 is provided to determine the market potential.
KEY MARKET SEGMENT
Engineered Solution Roofing
Structural Concrete Roofing
By Material Type
Clay and slate
By Roof Type
KEY MARKET PLAYERS PROFILED IN THE REPORT
Beacon Roofing Supply, Inc.
Carlisle Companies Incorporated
CertainTeed (Saint Gobain)
FiberTite (Seaman Corporation)
GAF Materials Corporation
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