The US Roofing Market- Global Industry Analysis, Growth and Trends
The roofing industry is transforming and 2018 is a sign of simply how vital it is to consider that transformation for accomplishment. Let us reflect back on what has happened in 2018 and simply look ahead to 2019.
From the outlook of a large-scale economy, the U.S. economy started to enhance in 2017. The rate of unemployment was extremely low, customer confidence was high, and decent interest rates caused home buying.
For roofing, 2018 has been a year of ample development. Storm-driven functionality paired with a highly confident economy upheld re roofing demand and residential roofing while driving development in the sector of commercial roofing. ISO and TPO led the charge, especially in the west.
The channel of distribution centralized further this last year and building maximized into new development areas. Roofing contractors in the US accepted new technologies and procedures incorporating solar, mobile applications, drones, and financing to increase close rates, enhance client service, and spare labor time.
Since we look ahead to the roofing industry outlook in 2019 during a powerful economy, claim for roofing materials stay constant with the US demand for roofing anticipated to develop 1% yearly through 2021. Old houses, a more suitable lending ambiance and maximized in housing begins will help drift that claim. With anticipated wage increases, job market development, and the currently passed tax reform law, analysts predict to see constant development in the housing market this year. According to the roofing industry outlook in 2019, on the commercial part, both institutional and commercial roofing market size will develop 2.6% in 2019.
Adding to our roofing industry outlook in 2019, 65% of roofing contractors said that they anticipate next year being better than 2018 in terms of profit, and over 76% said they think sales will constantly develop through 2020.
So, are roofers in demand in the US? Developed by an extension in a family housing begins and the increasing demand for storm-resistant items, the need for roofing in the US is anticipated to develop at a CAGR of 4.9% for reaching $19.9 billion in 2021. Read on for a fast analysis of the US roofing market size and its trends depending on some reports.
Noteworthy Roofing Trends to Watch
The residential roofing market size is anticipated to develop as more of the older residences of the country reach the end of their lifetimes and require being replaced. Nevertheless, not every roofing material is made similarly and roofing contractors in the US and customers will fall to some materials popular for their ease of installation, energy efficiency, and durability.
- A lack of roofing contractors in the US and expert craftspeople will increase the demand for easy-to-install roofing items with snap-together metal panels, spray-applied roof coatings, and self-adhesive membranes.
- Cool, energy-efficient roofing will see unique demands in sales in the future, especially in Texas, Florida, California, and other portions of the southern part of the US.
- Long-lasting roofing materials which can bear severe weather will also experience increased use, particularly those which are resistant to UV, impact, prolonged moisture, high temperatures, and wind.
- Storm-resistant roofing will be in a high claim because of the needs of insurance policies and new building codes which need the use of storm-resistant items.
Albeit we expect constant development in 2019, we can’t be confident. Since trends change and house owners’ purchasing habits also change, there is a notable chance for manufacturers and contractors to transform their business tactics and thinking for making sure they are fulfilling the demands of the market. Let’s analyze some of the basic changes and trends which will shape the roofing industry in 2019.
The Urgent Requirement for Expertise
The principal problem facing the industry is going to be the lack of labor. According to a market analysis report, nearly 88% of commercial roofers and 85% of residential contractors said seeking trained workers was their prime concern.
Former employees are leaving the roofing job and the newbies don’t always embrace the chance of a career in the trained business. Therefore, it is highly vital for the roofing contractors in the US to concentrate on methodical manpower strategizing and constant training and education for recruiting and retaining expertise. The national certification program of NRCA will help grow a foundation for addressing this problem by making a skill set industry rules, designing a career path for roofing experts, and enhancing the roofing industry outlook in 2019 as a whole. Reid Ribble, the NRCA CEO is making this effort a prime concern in 2019. Makers will also help lessen the labor deficiency with the launch of labor-saving items which can lessen the cost and difficulty of roofing tasks.
Digital Devices Make the Chance for Better Involvement
While roofing contractors remain a necessitous authority and resource for householders making home enhancement decisions, the impact of online sources and social media has transformed the way clients make and approve their buying decisions. While more superior in young gen, as per a research by Pew Research Center, in the US, 82% of adults say they often read online reviews or client ratings prior to buying something, incorporating 40% that say they always do this. While looking at customers who are looking for home remodeling work actively, 96% conduct web research, along 71% referencing social platforms. For roofing purchasers, 62% studied a contractor online. Instead of just depending on the suggestions of their contractors, homeowners presently have ample web resources at their conclusion which permit them for studying different options and items accessible and weigh the positivity and negativity and rates of each.
Moreover, they are taking a step further. With social channels, customers possibly comment on their experiences, quality, and service. This is a particular growth for the roofing industry. How is it possible to keep pace with a new gen of vocal, savvy householders?
There is no definite answer, but a vital element is making a relationship with these purchasers. Sites have been the present strategy utilized for growing this relationship. There is an increasing necessity for incorporating irresistible assets like pictures of completed tasks, community engagement, testimonials, and workers bios as householders are depending more of their decisions on the analysis they do on their peers’ opinions and online.
How Technology Influences B2B
For distributors and manufacturers, rising faith in websites and customer reviews makes it more vital to have a powerful online presence concentrated on giving real-time info which can boost the selling and client experience.
The latest technologies are enhancing the way people do business. For instance, drones are becoming more important as contractors highly utilize them as a visualization, measurement, selling and problem-identifying tool. The use of Big Data and analytics and Artificial Intelligence and are helping makers grow enhanced supply chain strategies and helping contractors make personalized weather mapping. The way to a more creative roofing industry falls on the investment and adoption in new capacities and technologies.
All indications point to 2019 being another accomplished year. With this positive strength, it is possible to concentrate on making enhancements which will drive our industry forward this year and in the following years to come. While a transforming client base with bigger anticipations and digitization will constantly shake up the social state of affairs, these challenges represent considerable chances to improve the value to the communities and clients the roofers serve.