When it comes to the upkeep of your house, roofing gets should be a high priority for most Americans. While you can keep looking at an unattractive wall that needs paint for a few months without any harm, roof replacement for a leaky roof cannot be delayed. There’s much more at stake, potential mold problems, water distress and other issues as well.
Considering this, it is not a surprise to know that the roofing industry in the U.S. along with its many roofing contractors has been on the rise in the past few years. According to a report published in 2018, it was noted that the roofing industry has seen a 14 percent rise in sales as compared to the figures reported for 2017.
While speaking of those figures, it is also prudent to note that this is not the first time that the roofing industry has reported an increase in its sales. In fact, the very year that the 14 percent rise is being compared to, 2017, saw an increase in sales by 13.5 percent as compared to the previous year.
To make the statistics easy to discern, here they are, broken down in a simple manner:
Increase of Sales in the Roofing Industry
2018 – 2017: 14.2%
2017 – 2016: 13.5%
2016 – 2015: 15.3%
2015 – 2014: 11.5%
2014 – 2013: 3.9%
As the above statistics demonstrate, the roofing industry has shown an upward trend of increase in sales. Even the year 2017, with its slightly decreased number of 13.5 percent, still shows an increase in sales from previous year, which is not a mean feat to achieve.
The research was conducted by Sageworks, a financial data analytics company, and also mentioned that the net profit margin for roofing contractors also increased by each year, where in the range for 2018 – 2017, it got to be 6.3 percent, the highest that it has been in 5 years.
Why Has the Roofing Industry Seen Such a Boom in the Past Few Years?
With the notion to save for emergencies on the rise and resulting in rainy day funds and emergency savings, more and more people have had the opportunity to address issues related to emergencies such as burst pipes and roof replacement needs right away.
Issues related to climate change may also have something to do with the rise in roofing sales as well.
Along with this, the need to have strong and reliable roofing in every new house and commercial property also is a necessity. After all, regardless of the type of structure that you are creating a roof matter. You might be building a comfortable house or even a modern office structure or possibly even a country sanctuary; if it has four walls, it is has got to have a roof in order for the structure to be completed and sustainable for years to come.
The ubiquitous and the perpetual need for roofing contractors is what has made the industry to thrive so consistently, and with various roof contractors on the rise to offering customized, friendly and reliable services, it is not naively optimistic to think that the industry is only to be on an upward slope from here onward.