Latest News- Roofing Market: Material is expected to lead the Component segment during 2024-2028

The Roofing Market is being driven by Growing number of construction projects

The Roofing Market is expected to grow at a CAGR of 4.35% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 30.8 billion. In the realm of advanced roofing solutions, a smart roof stands out with its autonomous functions. This innovative roofing system is governed by an intricate algorithm, enabling it to monitor and manage humidity levels within roof structures. Sensors installed in the roof and buildings measure both internal and external humidity, with the system automatically activating the ventilation system via IoT technology when necessary. The roof fan, equipped with an automatic control system, receives data from the sensors and responds accordingly, ensuring optimal humidity levels and eliminating the need for manual intervention by building owners. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Component
  • Material
  • Chemicals
• Application
  • Residential
  • Commercial
  • Industrial
• Geography
  • APAC
    • China
    • India
    • Japan
  • North America
    • US
  • Europe
    • Germany
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing number of construction projects
• Growing disposable income in developing countries
• Growing awareness of roofing benefits

However, the market also witnesses some limitations, which are as follows:

• Health hazards associated with roofing chemicals
• Environmental impact caused by roofing materials
• Fluctuations in raw material prices used in production of roofing materials

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Market Scope in Roofing Market Research Report

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Research Analysis Overview

The roofing market encompasses various aspects, including shingle lifespan, metal panel durability, tile roof weight, membrane seams, insulation R-value, ventilation efficiency, flashing failures, underlayment types, coating application, drainage capacity, access safety, snow load design, green roof benefits, solar panel mounting, repair techniques, maintenance schedules, design standards, load calculations, waterproofing standards, sealant selection, inspection checklist, leak detection tools, thermal bridging, lifecycle cost analysis, wind load resistance, fire rating standards, structural integrity, material specifications, and installation standards. These factors influence the performance, durability, and cost-effectiveness of different roofing systems.

Market Research Overview

The global construction and engineering market encompasses businesses specializing in non-residential construction, including engineering service providers and Engineering, Procurement, and Construction (EPC) contractors. This sector excludes entities involved in residential construction. According to Technavio, market size is determined by the consolidated revenue generated by engineering firms and EPC contractors active in the non-residential sector. Key growth drivers for the construction and engineering market include escalating investment in urban infrastructure. Urban areas face mounting pressure from growing populations and heightened demands for transportation, communication services, and essential utilities like water and electricity. Asphalt shingles, metal roofing panels, tile roofing systems, built-up roofing, and single-ply membranes are among the various roofing solutions that will be in demand as part of this infrastructure development.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/