Roofing industry statistics 2024
The global and U.S. roofing industries are vast and diverse, with a low market concentration driving variation in employment, wages and growth across different regions. The market size of the global roofing materials industry is expected to reach nearly $134.1 billion in 2024 and expand to over $192.8 billion by 2032. In the U.S., the roofing market was valued at $23.35 billion in 2023. The U.S. market is growing slightly faster than the global market, with the former projected to enjoy a compound annual growth rate (CAGR) of 6.6% between 2024 and 2032 and the latter a CAGR of 4.2% during that period.
As of May 2023, 135,140 roofers were working in the U.S. The vast majority of these workers, 91.6%, are employed in the foundation, structure and building exterior contractors sector. Florida leads the U.S. in roofing employment, followed by California and Illinois. Conversely, the states with the highest mean hourly and annual wages for roofers are Massachusetts, Illinois and Connecticut.
The global roofing materials industry is expected to have a market size of $134.08 billion in 2024. With a projected CAGR of 4.2% between 2024 and 2032, the market is anticipated to reach $192.82 billion by the end of the forecast period.
Jump to insightAs of May 2023, the roofing industry employed 135,140 workers in the U.S. Among these, 123,840 people, or about 91.6% of all U.S. roofers, work in the foundation, structure and building exterior contractors sector.
Jump to insightFlorida has the largest share of roofers in the U.S., at 25,190 (18.6% of all U.S. roofing industry workers). California and Illinois have the second- and third-highest share of roofing employees, at 18,920 and 6,240, respectively.
Jump to insightMassachusetts has the highest mean pay for roofers, offering an average annual salary of $72,390. Illinois and Connecticut have the second- and third-highest average salaries, at $70,110 and $69,170, respectively.
Jump to insightThe largest roofing contractor in the U.S. is Tecta America, with a total market share of 1.7%. However, the top three contractors have a combined market share of less than 4%, giving the industry a low market concentration.
Jump to insightRoofing industry statistics
The U.S. roofing industry is competitive and fragmented, with a low market concentration among top companies. The industry is largely made up of small, regional operations, and the top three roofing contractor companies in the U.S. have a combined market share of less than 4%.
Roofing industry market size
The global commercial roofing materials market size is estimated to be $134.08 billion. The industry is expected to have a CAGR of 4.2% between 2024 and 2032 and should reach an estimated $192.82 billion by the end of the forecast period.
In the U.S., the market size of the roofing industry reached $23.35 billion in 2023. Domestically, the market is growing faster than the global market, with a projected CAGR of 6.6% between 2024 and 2032.
What are the major market drivers for the roofing industry?
Several key market drivers are influencing the trajectory of the roofing industry. These factors are largely related to automation and smart building construction, changing lifestyles and rapid urbanization, including an increase in nonresidential projects and environmentally friendly roofing materials. Eco-friendly options like green roofs, solar roofs and recycled roofing materials have all gained momentum.
Overall, a rise in technological advancements and increased urban construction activity are the primary trends propelling market growth.
Employment by roofing type
As of May 2023, the roofing industry employed 135,140 workers in the U.S. These workers have a mean hourly wage of $26.85, or $55,840 annually.
The industry sector with the largest share of roofing employees is foundation, structure and building exterior contractors, employing 123,840 people, or 91.6% of all U.S. roofers. The residential and nonresidential building construction sectors have the second- and third-largest shares of roofers, at 3,400 and 1,910 employees, respectively.
The U.S. industry sectors with the highest mean hourly and annual wages for roofers employ relatively few people. For example, roofers who work for local governments (excluding schools and hospitals) have the highest average wages, at $34.46 per hour, or $71,680 per year. However, this industry only employs 120 roofers in total.
Roofing industry by state
Employment and income for American roofers vary significantly by state. Florida has 25,190 roofers, making up 18.6% of all roofers in the U.S. California and Illinois have the second- and third-highest share of roofers among all the states, with 14% and 4.6% of U.S. roofers, respectively.
While Florida has the largest share of roofing employees, the state’s mean annual wage for roofing ($47,030) is significantly less than that of the states with the highest mean pay. Massachusetts has the highest mean pay for roofers, offering an average annual salary of $72,390, nearly 54% more than the average roofer’s annual salary in Florida. Conversely, New Mexico is the state with the lowest average annual salary for roofers, at $42,320.
Florida also has the highest concentration of roofing jobs within its job market as a whole, at 2.63 roofing employees per thousand jobs. This is followed by Oregon (1.9 per thousand) and Utah (1.61 per thousand).
Who are the key players in the roofing industry?
As of 2023, Tecta America is the largest roofing contractor in the U.S. Tecta America has a total market share of 1.7% and reached $960.2 million in revenue in 2023. CentiMark and Baker Roofing Company are the second- and third-largest American roofing contractors, with market shares of 1.4% and 0.52%, respectively. Given these market shares, the roofing industry is rather competitive when compared with other U.S. industries.
Roofing industry projections
While the U.S. roofing industry is projected to grow at a CAGR of 6.6% between 2024 and 2032, the industry’s revenue and employment growth are lackluster, if not on the decline. In particular, revenue is expected to decline between 2024 and 2028. Employment growth is technically positive, but at a projected growth rate of 2% between 2022 and 2032, roofer employment is growing slightly below the average U.S. employment growth rate of 3%.
Going forward, the roofing industry will likely focus on new technologies, including cool and green roofs, as well as solar roofing and other energy-saving materials. The green and vegetative roof market is expected to grow annually by more than 5% between 2022 and 2025.
But as far as traditional roofing materials go, metal roofing has been growing the most in popularity. According to Clear Seas Research, 62% of roofing contractors surveyed in 2023 expected their metal roof sales to increase in 2024.
FAQ
Is the roofing industry growing?
Yes, the global roofing industry is growing at a CAGR of 4.2%. Between 2024 and 2032, the industry’s market value is projected to grow from $134.08 billion to $192.82 billion. In the U.S., projected industry growth is even higher, with a CAGR of 6.6%.
Is the roofing industry slowing down?
No, the roofing industry is not slowing down but rather changing to adapt to new technologies. However, the industry’s revenue is expected to decline in the 2020s, and its projected employment growth of 2% between 2022 and 2032 is below the national average of 3%.
Which roofers earn the most?
According to the U.S. Bureau of Labor Statistics, the highest-paid roofing jobs are in local government, excluding schools and hospitals. Roofers lucky enough to work in this sector receive an average pay of $34.46 hourly and $71,680 yearly.
What is the roofing industry’s outlook for 2024?
The outlook for the U.S. roofing industry in 2024 is positive. The industry’s market size was $23.35 billion in 2023 and is forecast to experience a 6.6% CAGR between 2024 and 2032.
References
- “Residential and Commercial Roofing Materials Market Share, Size, Trends, Industry Analysis Report, By Construction Type (New Construction, Re-roofing); By Product; By Application; By Region; Segment Forecast, 2024 - 2032.” Polaris Market Research. Evaluated May 28, 2024.Link Here
- “United States Roofing Market Share, Size, Growth, Forecast: By Type: Asphalt Shingles, Metal, Tiles, Wood Shingles, Others; By Roof Type: Flat Roof, Slope Roof; By Application: Residential, Non-Residential; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2024-2023.” Expert Market Research. Evaluated May 28, 2024.Link Here
- “Roofing Contractors in the US - Market Size, Industry Analysis, Trends and Forecasts (2024-2029).” IBISWorld. Evaluated June 5, 2024.Link Here
- “Occupational Employment and Wage Statistics.” U.S. Bureau of Labor Statistics. Evaluated May 29, 2024.Link Here
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