- Posted at 9:47, November 09, 2013
- By Russ Bleemer
Principia, a Malvern, Pa., company that consults in the building products industry, is forecasting strong growth for roofs, both commercial and residential.
On commercial, it says,
Demand is expected to show solid growth over the next few years due to a growing economy and a robust forecast for fixed investment in commercial buildings, which will drive the growth for both new and replacement roofing.
On residential, Principia reports, 2013’s “relatively calm storm season” has quieted demand this year, but “an improving economy will help drive consumer investment in home improvement including roof replacement, which represents about 85% of overall roofing demand.”
North America commercial roofing in 2013 was valued in the report at about $5 billion, with . replacement roofing accounting for more than 70% of all commercial roofing demand. Growth, Principia says, “is mostly attributed to the backlog of deferred replacements that began during the economic downturn of 2008.”
Residential is a much bigger market, pegged at about $13 billion this year, and the company says it sees pent-up consumer demand driving growth in the replacement market.
The company is launching two 2014 market studies of growth opportunities to forecast the next three years of respectively, the commercial and residential roofing markets. The studies—wide ranging surveys of more than 500 “value chain participants” in each market, will be completed and sold beginning in 2014’s second quarter.
Both reports trumpet “a unique interactive Market Model and Forecasting Tool that allows subscribers to model hypothetical market performance based on their own assumptions of metrics.”
Full details on Principia’s methodology and its pricing--$10,000 for residential and $12,500 for commercial if you get in before Nov. 30—is available here.