India Roofing Market – Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

India Roofing Market Analysis

The Indian roofing market is anticipated to record a CAGR of 6% during the forecast period (2022-2027). India's roofing industry is gearing up for the next wave of big projects. The roofing business has benefited from growth in the infrastructure and industrial segments. Several manufacturers are now offering sophisticated roofing solutions that include unique elements and extend a structure's total lifespan. The need for roofing in India is being fueled by this and significant expansion in industrial construction.

The residential sector is expected to account for a large portion of the market based on end users. This can be attributed to India's rapidly urbanizing population, increased disposable income, and rapid urbanization activities. These factors are expected to boost residential complexes or apartment buildings, hence raising demand for roofs, which is an essential component of any residential project.

Due to the country's lockdown and delays in the manufacturing and manufacture of roofing items used in residential and commercial areas, the COVID-19 pandemic has hampered the expansion of the roofing industry.

India Roofing Industry Segments

This report aims to provide a detailed analysis of the roofing market in India. It focuses on the roofing market insights, dynamics, technological innovations, government regulations and initiatives, and the impact of COVID-19 on the market. This report also covers segmentation by sector (commercial construction, residential construction, industrial construction, and other sectors (infrastructure buildings like railway stations, ports, airports, and energy infrastructures)) and material (bituminous, tiles, metal, plastic, and other materials).

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India Roofing Market Trends

This section covers the major market trends shaping the India Roofing Market according to our research experts:

Increasing Construction Activities to Bolster the Growth of the Roofing Industry in India

One of the primary reasons driving market expansion in India is the movement in consumer preferences away from traditional roofing materials and toward more reliable product varieties as income levels rise. Polycarbonate roofing sheets are also gaining popularity because they are simple to install in industrial and large-scale commercial structures, are weather-resistant, and come in a variety of textures and styles, all with low maintenance costs.

In the fourth quarter of 2020, India's construction industry was valued at over INR 2.7 trillion. When compared to July 2020, when the value fell due to the COVID-19 pandemic, this was a huge gain. Construction and industrial businesses in the country were among the hardest hit at the time. However, the industry appeared to recover soon and return to pre-crisis levels.

In recent years, infrastructure development has been at the forefront of India's economic development. The manufacturing industry attracted the most investment in 2016 and 2020. Foreign direct investments into infrastructure industries have fluctuated over the last five years, averaging about USD 2 billion in the fiscal year 2020.

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