GITNUX MARKETDATA REPORT 2024

Siding Industry Statistics

The siding industry is projected to experience steady growth over the next few years due to increasing construction activities and a growing demand for energy-efficient and aesthetically pleasing building materials.

Highlights: Siding Industry Statistics

  • The Global Siding Market size was valued at $101.06 million in 2020.
  • The Siding Market is predicted to reach $118.88 million by 2027.
  • In 2020, the vinyl siding segment held the largest share of the market.
  • North America held the highest share in 2020, along with largest consumer base for the Siding Market.
  • By 2027, Asia-Pacific is expected to witness the highest growth in the Siding Industry.
  • In 2021, the residential sector held the largest share in the Siding Industry.
  • In the U.S, the Siding Industry employs over 127,000 people.
  • There are over 40,500 siding businesses in the U.S. as of 2022.
  • In 2021, industry revenue was increased by 7.9% in the U.S.
  • The fiber cement siding market is expected to grow at a CAGR of 3.7% from 2019 to 2025.
  • In 2018, North America accounted for the largest market share of 30.8% in the fiber cement siding market.
  • The encoding for Siding Contractors has grown at 0.6% per year on average between 2016 and 2021 in the U.S.
  • The siding contractors' market size in the U.S. has decreased -1.2% in 2021.
  • In 2022, the U.S. siding industry revenue is expected to reach $30 billion.
  • The commercial sector is expected to grow at a CAGR of 2.6% from 2020 to 2027 in the global siding market.
  • In 2019, steel siding accounted for over 14.1% of the operation segment share in the Rainscreen Cladding Market.

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The Latest Siding Industry Statistics Explained

The Global Siding Market size was valued at $101.06 million in 2020.

The statistic ‘The Global Siding Market size was valued at $101.06 million in 2020’ represents the total financial worth of the siding market worldwide during the year 2020. This figure indicates the total revenue generated from the sale of siding products across different regions and segments of the global market. The value of $101.06 million reflects the combined sales volume and prices of various types of siding materials such as vinyl, wood, metal, and fiber cement, among others. This statistic is essential for businesses, investors, and policymakers to understand the scale and economic significance of the siding industry, which plays a crucial role in the construction and renovation sectors.

The Siding Market is predicted to reach $118.88 million by 2027.

The statistic indicates a forecasted value for the Siding Market, predicting that it will grow to an estimated worth of $118.88 million by the year 2027. This figure suggests anticipated growth and expansion within the siding industry over the specified timeframe. Factors contributing to this expected increase in market value could include rising demand for siding products, advancements in technology and materials used in siding production, and potentially favorable economic conditions driving investments in construction and renovation projects. This projection serves as a valuable insight for stakeholders in the siding industry, helping them anticipate market trends and plan their strategies accordingly to capitalize on potential growth opportunities.

In 2020, the vinyl siding segment held the largest share of the market.

In 2020, the statistic indicating that the vinyl siding segment held the largest share of the market suggests that among all types of siding materials available, vinyl siding was the most popular choice among consumers and builders during that time. This statistic implies that the demand for vinyl siding exceeded that of other siding materials such as wood, fiber cement, or metal. Factors contributing to vinyl siding’s dominance in the market could include its durability, low maintenance requirements, affordability, and versatility in terms of colors and styles. This information is valuable for industry professionals, policymakers, and investors in understanding market trends and making informed decisions related to the siding industry.

North America held the highest share in 2020, along with largest consumer base for the Siding Market.

The statistic states that in 2020, North America had the highest market share in the Siding Market and boasted the largest consumer base compared to other regions. This indicates that North America was the dominant player in the siding industry during that year, with a substantial number of consumers purchasing siding products. The high market share suggests that North America had a strong presence in terms of revenue and market influence within the siding market, while the large consumer base implies a significant demand for siding products in the region. This data highlights the importance of North America in the global siding market landscape and signifies the region’s leading position in driving the market trends and developments in 2020.

By 2027, Asia-Pacific is expected to witness the highest growth in the Siding Industry.

The statistic ‘By 2027, Asia-Pacific is expected to witness the highest growth in the Siding Industry’ indicates a projected surge in the demand for siding materials and services in the Asia-Pacific region compared to other regions by the year 2027. This growth may be driven by factors such as rapid urbanization, increasing construction activities, rising disposable income, and a growing focus on infrastructure development and renovation projects in countries across the Asia-Pacific region. The statistic implies that businesses operating in the siding industry could benefit from expanding their presence in the Asia-Pacific market to seize potential opportunities for growth and market share in this region over the coming years.

In 2021, the residential sector held the largest share in the Siding Industry.

The statistic indicating that the residential sector held the largest share in the Siding Industry in 2021 suggests that among all market segments, including commercial, industrial, and institutional sectors, residential construction projects accounted for the majority of demand for siding materials. This finding likely reflects the continued growth and strength of the housing market during that time, as more homeowners and developers engaged in new construction or renovation projects that required siding installations. The preference for siding in residential applications may be due to factors such as aesthetic appeal, durability, and energy efficiency. This trend underscores the significance of the residential sector as a key driver of activity within the siding industry in 2021.

In the U.S, the Siding Industry employs over 127,000 people.

The statistic ‘In the U.S, the Siding Industry employs over 127,000 people’ indicates the significant impact of the siding industry on the economy and labor market within the United States. With a workforce of over 127,000 individuals, this industry plays a crucial role in providing jobs and livelihoods for a substantial number of workers. Employment within the siding industry includes a diverse range of roles, such as manufacturing, installation, sales, and management, contributing to the overall growth and stability of the construction sector. This statistic underscores the industry’s importance in fostering economic development, supporting communities, and meeting the demands for residential and commercial construction projects across the country.

There are over 40,500 siding businesses in the U.S. as of 2022.

The statistic that there are over 40,500 siding businesses in the U.S. as of 2022 indicates a substantial number of enterprises within the industry, showcasing a competitive market landscape for siding services. This figure highlights the availability and demand for siding installation, repair, and maintenance in residential and commercial properties across the country. The high number of siding businesses suggests a diverse range of options for consumers seeking these services, potentially leading to competitive pricing and varying levels of expertise among service providers. Additionally, the presence of a large number of siding businesses signifies the industry’s economic significance and job opportunities within this sector.

In 2021, industry revenue was increased by 7.9% in the U.S.

The statistic indicates that in the year 2021, the total revenue generated by the industry in the United States experienced a positive growth of 7.9% compared to the previous year. This growth suggests that the industry has performed well and expanded its financial output, potentially due to various factors such as increased consumer demand, improved efficiency, or favorable market conditions. The 7.9% increase in revenue signifies a substantial improvement in the industry’s economic performance and may indicate a positive outlook for the sector in terms of profitability and overall contribution to the economy.

The fiber cement siding market is expected to grow at a CAGR of 3.7% from 2019 to 2025.

This statistic indicates that the fiber cement siding market is projected to experience a Compound Annual Growth Rate (CAGR) of 3.7% over the period spanning from 2019 to 2025. A CAGR of 3.7% suggests a steady and moderate growth trajectory for the market. This growth rate reflects an increasing demand for fiber cement siding products, likely driven by factors such as a growing construction industry, rising awareness of the benefits of fiber cement siding, and possibly even changing consumer preferences towards more durable and sustainable building materials. Overall, this statistic points towards a positive outlook for the fiber cement siding market over the specified time frame.

In 2018, North America accounted for the largest market share of 30.8% in the fiber cement siding market.

In 2018, North America held the dominant position in the fiber cement siding market by capturing a market share of 30.8%. This statistic indicates that nearly one-third of the total market for fiber cement siding products was concentrated in North America during that year, making it the most significant geographical segment in terms of sales and demand. Factors such as the region’s strong construction activity, preference for durable and weather-resistant building materials, and sustained demand for home renovation and remodeling projects likely contributed to North America’s market dominance in the fiber cement siding industry. This high market share suggests that North America was a key driver of the global fiber cement siding market in 2018, showcasing the region’s importance in shaping the industry landscape.

The encoding for Siding Contractors has grown at 0.6% per year on average between 2016 and 2021 in the U.S.

The statistic indicates that the number or presence of companies classified as Siding Contractors in the U.S. has increased by an average of 0.6% per year between 2016 and 2021. This growth rate suggests a gradual expansion within the siding contracting industry over the specified period. The increase could be attributed to various factors such as a growing demand for home improvement services, new construction projects, or advancements in technologies and materials used in the siding industry. This statistic provides insights into the evolving landscape of the siding contracting sector and may be indicative of broader trends in the housing market and construction industry.

The siding contractors’ market size in the U.S. has decreased -1.2% in 2021.

The statement indicates that the market size of siding contractors in the United States experienced a decrease of 1.2% in 2021 compared to the previous year. This statistic suggests that the industry contracted slightly during that period. The decline could be attributed to various factors, such as economic conditions, fluctuations in demand for construction services, or changes in consumer preferences. Understanding the reasons behind this decrease can provide valuable insights for businesses operating in the siding contracting sector, helping them adjust their strategies and make informed decisions to navigate through challenging market conditions.

In 2022, the U.S. siding industry revenue is expected to reach $30 billion.

The statistic stating that the U.S. siding industry revenue is projected to reach $30 billion in 2022 reflects the anticipated total income generated within the siding sector across the United States within that year. This figure serves as an estimation of the combined sales and revenue from the production, installation, and maintenance of siding materials throughout residential and commercial properties. The $30 billion amount indicates the significant economic activity expected to be generated by the siding industry, highlighting its importance within the construction and real estate sectors in the U.S. for the specified year.

The commercial sector is expected to grow at a CAGR of 2.6% from 2020 to 2027 in the global siding market.

The statistic indicates that the commercial sector in the global siding market is projected to experience a Compound Annual Growth Rate (CAGR) of 2.6% between 2020 and 2027. This means that on average, the commercial sector’s revenue in the siding market is estimated to increase by 2.6% every year during this period. The CAGR provides a standardized way to measure and compare growth rates over time, making it a useful metric to assess the sector’s performance and potential expansion in the global market. This forecast suggests a steady and moderate growth trajectory for the commercial sector within the siding industry over the specified period.

In 2019, steel siding accounted for over 14.1% of the operation segment share in the Rainscreen Cladding Market.

In 2019, steel siding comprised more than 14.1% of the operation segment share in the Rainscreen Cladding Market, indicating a substantial market presence within the industry. This statistic suggests that steel siding was a popular and widely utilized material within the segment during that period. The high percentage signifies that steel siding was a significant player in the market, potentially due to its durability, cost-effectiveness, or aesthetic appeal compared to other materials. The strong market share of steel siding indicates a favorable demand and adoption by consumers or industry professionals within the Rainscreen Cladding Market in 2019.

References

0. – https://www.www.ibisworld.com

1. – https://www.www.prnewswire.com

2. – https://www.www.globenewswire.com

3. – https://www.www.gminsights.com

4. – https://www.www.grandviewresearch.com

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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