CLEVELAND, Sept. 14, 2020 /PRNewswire/ -- US roofing demand is expected to edge up to 253.0 million squares in 2024, according to a new Freedonia Group analysis. Advances will be supported by:
Growth in the Leading Residential Market to Account for Increases
Residential roofing demand will hold up well in 2020 as a strong recovery over the summer will limit losses for the year. An improving economy and a rise in new housing starts will support demand growth in 2021. Through 2024, growth in residential roofing demand will offset a slight anticipated decline in the commercial segment. The residential market accounts for majority of roofing demand due to:
Commercial Roofing Sales to Contract Slightly Through 2024
US demand for commercial roofing is expected to fall slightly on average through 2024 due to:
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About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group