The Siding Market is being driven by Booming global construction industry
The Siding Market is expected to grow at a CAGR of 4.2% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 22.1 billion. In the realm of tourism, sports tourism represents a significant segment that entails traveling to various locations to engage in or spectate athletic competitions. This trend, which emerged in 2015, has resulted in a surge of sports enthusiasts attending events, thereby driving growth within the hospitality industry. Notable sports events, such as the Olympics, FIFA World Cup, Super Bowl, and Cricket World Cup, attract billions of viewers globally. The Super Bowl, an annual American football spectacle, boasts a massive following, while the Cricket World Cup and FIFA World Cup are organized every four years. These events serve as key drivers for the expansion of the sports tourism market.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
|
Report Coverage |
Details |
Page number |
218 |
Base year |
2024 |
Historic period |
2019-2023 |
Forecast period |
2025-2029 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.2% |
Market growth 2025-2029 |
USD 22.1 billion |
Market structure |
market_structure.ucfirst |
YoY growth 2024-2025(%) |
3.9 |
Key countries |
China, US, India, Japan, Canada, South Korea, UK, Australia, France, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The global building products market encompasses businesses producing components such as windows and doors, flooring, ceiling and wall fixtures, roofing and gutter materials, insulation, cabinets, plumbing fixtures, and home improvement products and equipment. According to Technavio, the market size is determined by the consolidated revenue of these manufacturers. Factors driving the expansion of the global building products market include the burgeoning construction sector in both developed and developing economies, necessitating the development of infrastructure for residential and healthcare facilities to accommodate urbanization and public healthcare demands. Network connectivity, cloud-based Excel documents, web apps, and bug fixes are essential workflow enhancements for market participants to optimize production and meet increasing demand.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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