3.13% CAGR in Roofing Market in North America: By Application and Regional Analysis | Historical Market and Forecast (2022-2026) | Market Dynamics, Five Forces Analysis, Vendor Analysis, Industry Events and Developments

The high demand for bitumen coating is one of the key factors driving growth in the roofing market in North America. The excellent mechanical properties of bitumen make it an ideal material for waterproofing. Being water repulsive, it does not absorb water and can withstand structural movements. Furthermore, it retains these properties for an extended period and significantly contributes to a building’s life. Bitumen is also known as asphalt and is widely used in waterproofing systems in residential and commercial buildings. When applied on the roof, bitumen coatings reduce the carbon footprint of houses by lowering the temperatures. These coatings are extensively used in modern buildings, low-slope roofs, ceilings, walls, roof gardens, and eco-roofing owing to their significant advantages and ability to withstand severe weather conditions.

Access our 120-page report on “Roofing Market In North America by Application and Geography – Forecast and Analysis 2022-2026”:https://www.technavio.com/report/report/roofing-market-industry-in-north-america-analysis

A major challenge that the roofing market will face in North America will be the low availability of the workforce and rising labor costs during COVID-19 outbreak. The COVID-19 pandemic severely impacted the roofing market in North America, resulting in a considerable reduction in revenues in 2020. Labor issues further aggravated the situation in the market. One of the factors is the shortage of skilled workers. According to the US Bureau of Labor Statistics, the industry is expected to need an additional 747,000 workers by 2026. According to the Associated General Contractors of America, in 2021, the average hourly earnings of workers in the construction sector surged by 3.2% to $30.73 compared to the previous year. Their wages were also 10.1% higher than the average wages in the private sector, which was $27.90 in 2020. Such factors hamper the profit margins of construction product manufacturers and pose a challenge for the Roofing Market in North America.

Download Free sample Report for insights on the challenges that will help companies evaluate and develop growth strategies for 2022-2026.

Major Five Roofing Companies in North America:

  • Beacon Roofing Supply Inc.
  • Carlisle Companies Inc.
  • CertainTeed
  • Firestone Fibers and Textiles Company LLC
  • GAF Materials LLC

Subscribe to our “Lite Plan” billed annually at USD 3000 that enables you to download 3 reports a year and view 3 reports every month.

Roofing Market in North America Application Outlook (Revenue, USD bn, 2021-2026)

  • Residential – size and forecast 2021-2026
  • Non-residential – size and forecast 2021-2026

Roofing Market in North America Geography Outlook (Revenue, USD bn, 2021-2026)

  • US – size and forecast 2021-2026
  • Canada – size and forecast 2021-2026
  • Mexico – size and forecast 2021-2026

Download this Roofing Market in North America report to make the most of future growth opportunities.

Related Reports on Industrials Include:

Global Roofing Panels Market: This industry research report identifies ArcelorMittal, OmniMax International, Kingspan Group, Lindab, NCI Building Systems, Palram Industries, and Rautaruukki as the key vendors in the global roofing panels market. To get extensive research insights: Download our FREE sample report

Global Roofing Tiles Market: This market research study presents a comprehensive analysis of the global roofing tiles market by type (concrete tiles and clay tiles). The key leading vendors identified in the market are Braas Monier Building Group, Etex, IKO, and Wienerberger. To get extensive research insights: Download our FREE sample report

Roofing Market in North America Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 3.13%

Market growth 2022-2026

USD 4.28 billion

Market structure

Fragmented

YoY growth (%)

2.67

Regional analysis

US, Canada, and Mexico

Performing market contribution

US at 61%

Key consumer countries

Afghanistan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Beacon Roofing Supply Inc., Carlisle Companies Inc., CertainTeed, Firestone Fibers and Textiles Company LLC, GAF Materials LLC, Johns Manville, Owens Corning, Seaman Corp., Sika AG, and The IKO Group of Companies

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

Exit mobile version