The roofing industry is booming and doesn’t seem to be slowing down anytime soon. In fact, between 2015 and 2020, the roofing industry showed an annual 2.7% growth rate, according to Roofing Insights. Let’s review how and why the roofing industry continues to grow.
1. Home Renovations
More and more homeowners want to upgrade their homes and make them look nicer for themselves or for when they sell. One of the most common ways to renovate a home is to replace the roof. Not only does this give the home a whole new look, but it also increases its resale value.
2. New Home Construction
As the population continues to grow, there’s an increasing demand for new homes, causing work for roofing contractors to flourish. After all, every new home needs a roof. Even if the housing market slows, there will still be a demand for residential roofing companies as people continue to need repairs and replacements on their existing homes.
3. Changing Weather Patterns
As the climate changes, we’re seeing more extreme weather patterns across the country. Such weather can take a toll on roofs, causing them to deteriorate faster than they would in more moderate climates. Homes in hurricane-prone areas must be able to withstand high winds, while homes in snowy climates must handle the weight of the snow and ice. Due to climate changes, residential roofing companies are seeing more work than ever.
4. Improved Technology
Roofing contractors now have access to better materials and tools that make their jobs easier and more advanced. For example, there are shingles that can reflect heat, making homes cooler in the summer. There are also new roofing systems that can withstand high winds and heavy snowfall.
5. An Aging Population
As the population ages, homes are aging too, meaning there will be an increasing need for roofing work. Older homes are more likely to need repairs and replacements, and many older homeowners don’t have the time or ability to do such work themselves, nor should they. They’ll need to hire residential roofing companies to get the job done.
Residential roofing companies will continue to see a lot of work in the coming years. Homeowners are always looking for ways to renovate their homes, and with new construction popping up everywhere, that means more business for roofers. Give us a call today at (920) 791-0414 for any roof-related needs.