The roofing industry in the United States is one of the fastest-growing industries in the world. With the rise of urbanization, construction, environmental issues, and technological advancements, the demand for roofing services has increased significantly.
In 2024, the US roofing market size is estimated to be around USD 23.35 billion. It is expected to reach USD 33.45 billion by 2029, growing at a CAGR of 6.17% during the forecast period (2024-2029).
Roofing replacements make up a large portion of the overall North American roofing market, accounting for over 90% of both the market’s volume and value. According to the 2019 US Bureau of Labor Statistics, there were 197,390 roofing contractors in the country.
The roofing contractor industry market size is expected to grow by 0.6% in 2022. Additionally, the roofing contractors industry is growing by one percent annually between 2017-2022.
Roofing is a crucial aspect of any building, and it is essential to ensure that it is well-maintained and in good condition. The roofing industry encompasses a wide range of services, including installation, repair, replacement, and maintenance of roofs. See Commercial Roofer near me.
With the increasing demand for roofing services, it is important to understand the size and scope of the US roofing industry. In this article, we will explore the US roofing industry’s size and growth trends, as well as the factors driving its growth.
Market Overview
If you’re interested in the roofing industry in the United States, understanding the market overview is essential. In this section, we’ll take a closer look at the market size, market share, market growth, base year, and CAGR of the US roofing industry.
Market Size
The United States roofing market is one of the fastest-growing industries in the world. According to recent estimates, the market size of the US roofing industry is around USD 23.35 billion in 2024, and it is expected to reach USD 33.45 billion by 2029. The growth rate of the market is projected to be around 6.17% during the forecast period (2024-2029).
Market Share
The US roofing industry is highly fragmented, with a large number of players operating in the market. The top players in the market account for a significant share of the overall market. However, the market share of individual players varies widely depending on various factors like product quality, brand reputation, and pricing.
Market Growth
The US roofing industry is expected to grow at a CAGR of 6.6% between 2024 and 2032, reaching a value of around USD 41.50 billion by 2032. The growth of the market is driven by various factors like urbanization, construction, environmental issues, and technological advancements.
Base Year and CAGR
The base year for the US roofing market is 2024, and the CAGR for the forecast period (2024-2029) is projected to be around 6.17%. The CAGR for the period between 2024 and 2032 is projected to be around 6.6%.
Segmentation of the Roofing Industry
When it comes to the roofing industry in the United States, there are several ways to segment it. Here are some of the most common ways:
By Sector
The roofing industry can be divided into two main sectors: residential and commercial. Residential roofing refers to roofs on homes and other residential buildings, while commercial roofing refers to roofs on businesses and other commercial buildings. Both sectors are important to the roofing industry, and each has its own unique set of challenges and opportunities.
By Material
Another way to segment the roofing industry is by the type of material used. Some of the most common roofing materials in the United States include asphalt shingles, tiles, metal roofing, and single-ply roofing. Each material has its own advantages and disadvantages, and the choice of material often depends on factors such as cost, durability, and aesthetics.
By Roofing Type
Finally, the roofing industry can also be segmented by the type of roofing installed. Some of the most common types of roofing include flat roofs, pitched roofs, and mansard roofs. Each type of roofing has its own unique characteristics and requirements, and the choice of roofing type often depends on factors such as the building’s architecture and the climate in the area.
Economic Impact
Revenue
The US roofing industry is one of the fastest-growing industries in the world. According to a report by Industry Research, the United States Roofing Market size is estimated to be USD 23.35 billion in 2024 and is expected to reach USD 33.45 billion by 2029, growing at a CAGR of 6.17% during the forecast period (2024-2029). This indicates that the roofing industry has a significant economic impact on the US economy.
Labor Costs
The roofing industry provides employment opportunities for many people in the United States. The US roofing industry employs more than 260,000 people, according to a report by the Better Business Bureau.
Labor costs are a significant expense for roofing companies. The cost of labor varies depending on the location, experience, and skills of the workers.
The roofing industry also provides opportunities for small businesses to thrive, which contributes to the overall economic growth of the country. See Commercial Roofer near me.
Material Costs
The cost of materials is a significant expense for roofing companies. The cost of materials varies depending on the type of roofing material used.
For example, metal roofing is more expensive than asphalt shingles. The cost of materials also varies depending on the location of the roofing company.
Furthermore, the roofing industry is affected by the cost of raw materials, which can fluctuate depending on market conditions.
Key Players and Competitive Landscape
Major Manufacturers
The US roofing industry is home to several major manufacturers that produce high-quality roofing materials. These manufacturers include GAF, Owens Corning, Atlas Roofing Corporation, and IKO Industries.
These companies are known for manufacturing roofing materials that are durable, long-lasting, and able to withstand harsh weather conditions.
Roofing Contractors
The roofing contractors industry in the US is highly competitive and fragmented, with numerous small and large players operating across various segments. Some of the major players in this industry include Tecta America, Centimark Corp, and Tamko Building Products.
These companies are known for their expertise in installing and repairing roofs of all types.
Company Profiles
GAF
GAF is one of the largest roofing manufacturers in the US, producing a wide range of roofing materials including shingles, tiles, and membranes.
The company has been in business for over 130 years and is known for its high-quality products and exceptional customer service.
Owens Corning
Owens Corning is a leading manufacturer of insulation, roofing, and fiberglass composites. The company has a strong presence in the US roofing industry and is known for its innovative products and commitment to sustainability.
Atlas Roofing Corporation
Atlas Roofing Corporation is a family-owned business that has been in operation for over 30 years. The company produces a wide range of roofing materials including shingles, underlayment, and insulation.
Atlas Roofing Corporation is known for its commitment to quality and customer satisfaction.
Tecta America
Tecta America is one of the largest commercial roofing contractors in the US, with operations in over 70 locations across the country.
The company specializes in both new construction and roof replacement projects and is known for its expertise in all types of roofing materials.
Tamko Building Products
Tamko Building Products is a leading manufacturer of roofing materials, including shingles, underlayment, and ventilation products.
The company has been in business for over 75 years and is known for its commitment to quality and innovation.
Competitive Landscape
The US roofing industry is highly competitive, with numerous players operating across various segments. The industry is expected to continue to grow in the coming years, driven by factors such as urbanization, construction, and technological advancements.
Manufacturers and contractors that are able to produce high-quality products and provide exceptional customer service are likely to succeed in this dynamic and competitive market.
Technological Advancements
The US roofing industry has seen significant technological advancements in recent years, leading to improved materials and product development. These advancements have allowed for more efficient and effective roofing solutions, resulting in increased customer satisfaction and better environmental outcomes.
Innovative Materials
Innovative materials have played a key role in the advancement of the US roofing industry. These materials, such as synthetic underlayment and cool roofs, provide superior performance and durability compared to traditional materials.
Synthetic underlayment, for example, is lightweight, tear-resistant, and provides better protection against water damage. Cool roofs, on the other hand, reflect sunlight and reduce heat absorption, resulting in lower energy costs and a more comfortable living environment.
Product Development
Product development has also been a major focus in the US roofing industry. Roofing companies have invested heavily in research and development to create new and improved roofing products.
One example of this is the development of mobile apps that allow customers to visualize different roofing options on their homes before making a decision. This technology has made the roofing process more streamlined and convenient for customers, resulting in increased sales for roofing companies.
Trends and Forecasts
Current Trends
The US roofing industry has experienced steady growth over the past few years, with a projected CAGR of 6.6% between 2024 and 2032. The industry is expected to reach a value of around USD 41.50 billion by 2032.
The roofing materials market includes ceramic tiles, hypalon, teflon fabric, metals such as zinc and cast iron, and asphalt shingles. North America has the largest share of the global roofing market, with the US accounting for a significant portion of that share.
The COVID-19 pandemic has had a significant impact on the roofing industry, causing delays in construction projects and supply chain disruptions. The pandemic has led to an increase in demand for air quality improvements, which has resulted in a surge in green roofing and solar roofing installations.
Solar sales have increased in 2022 compared to 2021, but contractors are less confident in solar sales in the future.
Future Forecasts
The roofing industry is expected to continue its growth trajectory in the coming years, with a projected CAGR of 4.5% during the forecast period 2023 to 2033. The market is expected to reach a value of USD 42.66 billion by 2033.
The roofing industry is expected to experience a surge in demand for energy-efficient roofing materials due to increasing concerns about climate change. This will result in an increase in green roofing and solar roofing installations.
A SWOT analysis of the roofing industry reveals that the industry’s strengths include its steady growth, increasing demand for energy-efficient roofing materials, and the emergence of new technologies. However, the industry faces challenges such as supply chain disruptions, labor shortages, and increasing competition.
Regulatory and Environmental Factors
Government Regulations
The US roofing industry is subject to various government regulations. These regulations have an impact on the industry’s growth and development. The regulations are designed to ensure that roofing materials and practices meet certain standards of safety, quality, and environmental sustainability.
For example, the Environmental Protection Agency (EPA) regulates the disposal of roofing materials, such as asphalt shingles, to prevent environmental pollution. The Occupational Safety and Health Administration (OSHA) also regulates workplace safety. This includes the use of personal protective equipment and safe work practices.
In addition, state and local governments have their own regulations that govern roofing practices. Some states require roofing contractors to be licensed, while others require contractors to carry liability insurance. These regulations can affect the cost of doing business and the competitiveness of the industry.
Impact of Natural Disasters
Natural disasters, such as hurricanes, tornadoes, and wildfires, can have a significant impact on the US roofing industry. These events can cause damage to roofs and other structures, leading to increased demand for roofing services.
In some cases, natural disasters can also disrupt the supply chain for roofing materials, leading to shortages and price increases.
In response to these challenges, the industry has developed new technologies and practices to improve the resilience of roofs and other structures.
For example, some roofing materials are designed to be more resistant to high winds and impact damage. Additionally, some roofing contractors specialize in disaster recovery. They provide emergency services and repairs in the aftermath of natural disasters.
Challenges and Opportunities
Labor and Skill Shortages
One of the biggest challenges facing the US roofing industry is the lack of qualified workers. The industry has struggled to attract and retain skilled workers in recent years, which has led to a shortage of qualified workers.
This shortage has resulted in longer lead times for projects, increased labor costs, and decreased quality of work.
To address this challenge, roofing companies have started to offer more competitive wages and benefits packages to attract and retain qualified workers. Additionally, some companies are using employee referral programs to incentivize their current employees to refer qualified candidates for open positions.
Supply Shortages
Supply shortages are another major challenge facing the US roofing industry. The industry relies heavily on raw materials such as asphalt, shingles, and metal, which are subject to supply chain disruptions and price fluctuations.
These supply shortages can lead to delays in projects, increased costs, and decreased profitability.
To mitigate these challenges, roofing companies are working to diversify their supply chains and establish long-term relationships with suppliers. Additionally, some companies are investing in new technologies and processes to reduce waste and improve efficiency in their supply chains.
Safety and Quality
Safety and quality are two critical factors in the roofing industry. Roofing work can be dangerous, and accidents can result in serious injuries or fatalities. Additionally, poor quality work can lead to leaks, structural damage, and other issues that can be costly to repair.
To address these challenges, roofing companies are investing in safety training and equipment to ensure that their workers are properly protected on the job. Additionally, companies are implementing quality control processes to ensure that their work meets industry standards and customer expectations.
Regional Insights
North America
The United States roofing industry is one of the fastest-growing industries in the world. According to industry research, the United States Roofing Market size is estimated at USD 23.35 billion in 2024, and is expected to reach USD 33.45 billion by 2029. The market is expected to grow due to factors such as urbanization, construction, environmental issues, and technological advancements.
Key States
The roofing industry in the United States is highly concentrated, with a few key states accounting for a significant portion of the market. Texas, California, and Florida are among the top states in terms of market size and demand for roofing products and services.
In Texas, the roofing market is expected to grow due to the state’s large population and high demand for new construction and renovation projects. California, on the other hand, has a large number of older homes that require regular maintenance and repairs, leading to a steady demand for roofing services. In Florida, the roofing market is driven by the state’s high humidity and frequent hurricanes, which cause damage to roofs and require repairs and replacements.
In addition to these key states, the roofing industry is also growing in other parts of the country, such as the southern region. The demand for roofing services in the southern United States is driven by factors such as the region’s high temperatures, frequent storms, and aging infrastructure.
Conclusion
In conclusion, the roofing industry in the US is a rapidly growing industry. It is expected to reach a value of around USD 41.50 billion by 2032. It is growing at a CAGR of 6.6% between 2024 and 2032.
The industry is driven by factors such as urbanization, construction, environmental issues, and technological advancements.
Roof replacements are a significant part of the roofing industry. Many homeowners and building owners opt for new and improved roofing solutions. Sales of roofing materials and services are expected to increase in the coming years. The roofing industry is projected to reach nearly $20 billion in 2021.
Performance analysis and estimation are crucial aspects of the roofing industry. Contractors and manufacturers continually strive to improve the quality and efficiency of their products and services.
The industry is also witnessing a shift towards sustainable and eco-friendly roofing solutions. The US green roofing market is expected to grow significantly in the coming years.
Overall, the US roofing industry is a dynamic and evolving industry that offers numerous opportunities for growth and development. As a homeowner or building owner, it is essential to stay informed about the latest trends and advancements in the industry to make informed decisions about your roofing needs.
