India Roofing Market Size

India Roofing Market Analysis

The India Roofing Market size is estimated at USD 7.59 billion in 2024, and is expected to reach USD 10.41 billion by 2029, growing at a CAGR of 6.5% during the forecast period (2024-2029).

The Roofing Sector 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 Indian government has introduced various incentives and schemes to promote the use of energy-efficient and sustainable roofing materials, further driving market growth. Also, the Indian government has been investing heavily in infrastructure projects, including airports, highways, and smart cities. These projects contribute to the demand for roofing materials in the construction sector.

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.

The Indian government's "Housing for All" initiative has stimulated the construction of affordable housing projects, boosting the demand for roofing products suitable for such developments. The initiative targets various segments of the population, including the economically weaker sections (EWS), low-income groups (LIG), and middle-income groups (MIG). The state governments have also introduced various housing policies for the economically and socially weaker sections of society. These schemes aim to provide housing or plots for allotment or construction along with the basic amenities.