NEW YORK, Oct. 3, 2022 /PRNewswire/ -- The Roofing Market size in North America is expected to grow by USD 4.28 bn during 2021-2026 according to the latest market research report by Technavio. As per Technavio, the increasing demand for residential and commercial construction owing to rapid urbanization will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2021-2026. Read Free Sample Report.

Roofing Market In North America: Regional Analysis

The US will account for 61% of market growth. The market in this region will expand more slowly than the markets in Canada and Mexico. Over the course of the forecast period, the expansion of the building and construction sector and the expansion of infrastructure will support the growth of the roofing market in North America and the US.

Roofing Market In North America: Segmentation Analysis

• By Geography
• US
• Canada
• Mexico
• By Application
• Residential
• Non-Residential

The roofing market share growth in North America by the residential segment will be significant during the forecast period. The roofing market in North America is anticipated to grow significantly due to strengthening consumer finances, lower interest rates, and decreasing unemployment, which will help reduce the stock of excess housing and support the construction of new houses and consequently of new roofs across North America. Population growth and urbanization will also support gains in the residential roofing segment. The population boom and the falling interest rates have propelled growth in the housing market in various countries. Buy Sample Report.

Market Drivers

The rising demand for bitumen coating is one of the main drivers fueling growth in the North American roofing market. Asphalt commonly referred to as bitumen, is frequently utilized in waterproofing systems in both residential and commercial structures. By decreasing the temperatures when applied to the roof, bitumen coatings lessen the carbon footprint of buildings.

Due to their many benefits and resilience to extreme weather, these coatings are widely employed in modern structures, low-slope roofs, ceilings, walls, roof gardens, and eco-roofing. Bitumen is the perfect substance for waterproofing because of its great mechanical qualities.  Additionally, it keeps these qualities for a long time and makes a big difference in a building's lifespan.

Vendor Landscape

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Beacon Roofing Supply Inc.
• Carlisle Companies Inc.
• CertainTeed
• Firestone Fibers and Textiles Company LLC
• GAF Materials LLC
• Johns Manville
• Owens Corning
• Seaman Corp.
• Sika AG
• The IKO Group of Companies

Find additional highlights on the growth strategies adopted by vendors and their product offerings, Download Free Sample Report.

Related Reports

Automatic Doors Market by Product and Geography - Forecast and Analysis 2022-2026: The automatic doors market share is expected to increase by USD 1.24 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 6.46%.

Duplex Stainless Steel Pipe Market by Application and Geography - Forecast and Analysis 2022-2026: The duplex stainless steel pipe market share is expected to increase to USD 114.58 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.93%.

Table of Contents

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2021
• Market outlook: Forecast for 2021 - 2026

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Application

• Market segments
• Comparison by Application
• Residential - Market size and forecast 2021-2026
• Non-residential - Market size and forecast 2021-2026
• Market opportunity by Application

Customer landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• US - Market size and forecast 2021-2026
• Canada - Market size and forecast 2021-2026
• Mexico - Market size and forecast 2021-2026
• Market opportunity by geography
• Market drivers
• Market challenges
• Market trends

Vendor Landscape

• Vendor landscape
• Landscape disruption

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• Beacon Roofing Supply Inc.
• Carlisle Companies Inc.
• CertainTeed
• Firestone Fibers and Textiles Company LLC
• GAF Materials LLC
• Johns Manville
• Owens Corning
• Seaman Corp.
• Sika AG
• The IKO Group of Companies

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/roofing-market-in-north-america-to-grow-by-usd-4-28-bn-high-demand-for-bitumen-coating-to-boost-the-market-growth---technavio-301638726.html

SOURCE Technavio