Roofing Services
Market Overview
- The United States roofing services market was valued at $27.5 billion in 2023 and is projected to grow at a CAGR of 4.5%, reaching $34.3 billion by 2028.
- A combination of the increasing commercial demand, driven by aging facilities, and the substantial cost efficiency achieved through updating roofing systems are expected to be major drivers in market growth. A similar sentiment exists for aging residential houses, with the median age of homes in the United States being ~40 years old.
- With many of these residential houses approaching the end of their life expectancies, roofing work on existing residential properties has come to account for a greater share of the roofing services market, generating 31.4% of total industry revenue in 2023.
- This trend is expected to continue over the next several years despite uncertainty in the broader economic environment, as service and maintenance spending remains consistent during such times, creating additional opportunities for residential roofers to capitalize on, compared to other industries.
Industry Snapshot
$27.5B → $34.3B
U.S. roofing services market projected to grow at a 4.5% CAGR from 2023 to 2028
~40 years
Median age of U.S. residential housing stock, driving repair and replacement demand
31.4%
Share of total roofing industry revenue generated by existing residential properties in 2023
~64%
Roofing services performed on existing buildings, including repair, maintenance, and replacement
