According to a report published by the Allied Market Research, the North American roofing market generated $29.86 billion in 2017. It is expected to reach $47.51 billion by 2025, growing at a compound annual growth rate (CAGR) of 5.9% from 2018 to 2025.
Factors Pushing the Growth of the North American MarketDifferent factors are attributed to the growth of the North American roofing market. The increasing demand for new construction, renovation and retrofitting services as well as the rise in expenditure on home remodeling and repair works have been significant in boosting the market.
Also, several cities in the U.S. faced severe weather conditions in the last couple of years, destroying many roofs across the country. This resulted in demands for the services of roofers including roof replacement or reroofing.
Another important factor that pushed the growth of the market is the increasing popularity of eco-friendly roofing technologies. Thanks to the technological advancements in roofing products and techniques, more property owners are gradually considering the benefits of energy-efficient and eco-friendly roofing.
U.S. to Dominate the MarketThe study looked into the different categories of the market, and the residential segment is forecast to dominate the market through 2025. Based on country, the U.S. holds a significant share in the North American roofing market. It is also expected to register a significant CAGR due to higher income levels, rapid urbanization and industrialization, and the rise of government initiatives to invest in infrastructure development.
Roofing by Curry boasts of several years of experience. Our team, which consists of skilled and professional roofers, ensures top-notch results for every project we handle. Call us at (941)-270-4770, or fill out our contact form to request an estimate. We serve customers in Sarasota, FL, and the surrounding areas.