The global market for roofing systems is projected to grow from USD 109.72 billion in 2016 to reach USD 157.56 billion by 2021, at an estimated CAGR of 3.06% from 2016 to 2021. Growth in the construction industry throughout the world as well as government regulations regarding zero energy building codes and green roofing have played a huge role in providing the necessary momentum to the roofing systems market, after the economic slowdown between 2007 and 2009.
The market for roofing systems is also segmented based on region, which includes North America, Europe, Asia-Pacific, and Rest of the World. North America accounted for the largest share of the total demand generated by the global roofing systems market in 2015 because of the willingness of companies in the region to take up capital-intensive projects, along with the availability of technical expertise. The Asia-Pacific region is projected to be the fastest-growing market for roofing systems, during the forecast period, owing to the rising economy and the rapid growth in the infrastructure sector.
Source : PR Newswire