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| Roofing Systems Market |
Roofing systems are an essential component of residential and commercial infrastructure used for protection from external elements such as rain, snow, wind, sunlight etc. Different types of roofing materials such as asphalt shingles, clay tiles, concrete tiles, metal roofing etc. are used depending on the climatic conditions and economic feasibility. Roofing systems also provide architectural aesthetics and energy efficiency. The global Roofing Systems Market is estimated to be valued at US$ 133.67 Bn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rapid urbanization has been a key driver accelerating the growth of the roofing
systems market over the past few years. According to the UN, around 68% of the
world's population is projected to live in urban areas by 2050. This rapid
transition is generating huge demand for residential and commercial
infrastructure development worldwide. The construction of new buildings and
refurbishment of existing structures require extensive usage of various roofing
materials and systems. Rising urban population has also boosted the real estate
and construction industries globally. This in turn is projected to augment the
sales volume as well as revenue generation in the roofing systems market during
the forecast period.
Segment Analysis
Residential segment dominates the global roofing systems market. Traditional
roofing materials like concrete and clay tiles dominate the residential
segment. Concrete and clay tiles offer durability and longevity suiting
residential requirements. These traditional materials have been used for decades
providing homeowners reliability and reducing maintenance costs.
Key Takeaways
The global Roofing
Systems Market Growth is
expected to witness high growth. Regional analysis shows that the Asia Pacific
region dominates the global roofing systems market. The region's large
population and infrastructure growth across countries like China and India are
driving demand for roofing systems in residential and non-residential
construction. Significant investments in commercial and industrial construction
are boosting the roofing systems market in the Asia Pacific region.
Regional analysis
The Asia Pacific region is projected to be the fastest growing as well as the
dominant region in the global roofing systems market during the forecast
period. Rapid urbanization and industrialization across developing nations like
China and India are propelling infrastructure development and construction
activities. This is augmenting demand for roofing systems in the residential,
commercial, and industrial construction sectors. Additionally, government
initiatives to develop smart cities and boost investments in public
infrastructure will continue driving the roofing systems market in the Asia
Pacific region.
Key players
Key players operating in the Roofing Systems market are Waifair LLC,Westminster
Teak Inc.,Polyteak,Bajanusa Furniture,Frontgate,Gloster Furniture
GMBH,Nusantara Teak,Teak Heirlooms,Raft Furniture,Wihardja,Artisera,Teak &
Mahogany,Dania Furniture,Danish Teak Classics,Casateak Teak wood furniture,Teak
Vogue Sdn Bhd,CV.Jepara Crafter Furniture,Wisanka Indonesia,Kalingga Jati
Furniture,Republic Furniture Group. These companies focus on new product
launches, expansions, and acquisitions to strengthen their market presence.
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