GITNUX MARKETDATA REPORT 2024

Roofing Industry Statistics And Trends in 2024

With sources from: ibisworld.com, grandviewresearch.com, consumerreports.org, mordorintelligence.com and many more

In this post, we will explore key statistics and trends in the roofing industry. From the rise of energy-efficient roofing solutions to the projected market growth of different roofing materials, these data points provide valuable insights into an essential sector that impacts construction, energy efficiency, and employment opportunities.

Statistic 1

"Approximately 30% of roofing contractors reported labor shortages as one of their top challenges in 2021."

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Statistic 2

"Green roofing solutions are seeing a growth of 15% annually due to environmental benefits."

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Statistic 3

"The roofing industry in the United States reached a market size of approximately $51.9 billion in 2021."

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Statistic 4

"New roofing technologies like drones and 3D modeling are being adopted by over 40% of roofing contractors."

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Statistic 5

"Roofing labor costs make up 40-50% of the total cost of a roofing project."

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Statistic 6

"Average annual revenue per roofing company in the U.S. is approximately $700,000."

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Statistic 7

"Roofing material prices have increased by more than 20% from 2020 to 2021 due to supply chain disruptions."

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Statistic 8

"The average lifespan of an asphalt shingle roof is 20-25 years."

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Statistic 9

"The average cost to replace a roof in the U.S. ranges from $5,000 to $10,000 depending on materials and size."

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Statistic 10

"Asphalt shingles account for about 80% of residential roofing market share in the United States."

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Statistic 11

"The commercial roofing sector accounts for about 38% of the total roofing market in the United States."

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Statistic 12

"Metal roofing demand is growing, with a market value expected to surpass $4 billion by 2026."

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Statistic 13

"The top five roofing companies in the U.S. have a combined market share of over 25%."

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Statistic 14

"Storm-related roof damage accounts for over 80% of insurance claims in the roofing sector."

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Statistic 15

"Synthetic roofing underlayment is becoming increasingly popular, with its market share rising to 12% in 2021."

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Statistic 16

"The number of roofing-related permits issued in the U.S. increased by 18% from 2019 to 2020."

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Statistic 17

"There are over 108,000 roofing businesses currently operating in the U.S."

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Statistic 18

"Over 70% of roofing contractors offer some form of financing options to their customers."

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Statistic 19

"The roofing industry is expected to grow at a CAGR of 3.6% from 2021 to 2028."

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Statistic 20

"In 2020, the reroofing segment accounted for more than 65% of the market share in the roofing industry."

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Interpretation

In conclusion, the roofing industry is experiencing significant shifts and growth opportunities driven by various factors such as energy efficiency, material preferences, sustainability trends, market projections, labor challenges, and financial aspects. Energy-efficient cool roofs, rooftop solar installations, and green roofing options are gaining traction, while materials like bitumen and metal are seeing market dominance and growth prospects. The industry is poised for substantial expansion globally and in the U.S., with evolving consumer demands and market dynamics shaping the landscape. However, challenges such as labor shortages and maintenance issues underscore the need for innovation and adaptation within the industry to ensure sustainable growth and success.

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