The state of the roofing industry report from BBB was released last week. 65% of roofing contractors are expecting sales to continue to climb.
A competitive landscape for new roofing companies.
This report stated that the start-up and maintenance costs are low to create your own roofing company. With basic tools, minimal safety equipment, and portable equipment being accessible, starting as a roofing contractor wouldn't be extremely hard. A simple lesson in economics, with many players, prices drop as roofing contractors try to stay competitive and win business.As many roofing contractors have seen over the last two years, the biggest challenges have been labor and material shortages. These shortages are expected to stick around as they keep prices higher. It's a unique time in the roofing industry as roofing contractors are looking to stay competitive in price as well as source labor and materials at the same time.
Home improvement projects continue to rise.
Even with increasing interest rates, the BBB report states that homeowners are continuing to focus on their homes.If you have a steep-slope shingled roof, you have the top product for residential roofing contractors. Metal roofing comes in as the next most popular roofing product and it accounted for 18% of the roofing industry revenue in 20202. 68% of roofing contractors that work with metal roofs expect sales to increase over the next few years.94% of roofing projects in North America are for roof replacements and not for repairs. This specifically is for homes built around twenty-five years ago or older.
What helps the roofing industry grow?
New Roofing Materials
Like many roofing companies, Cenvar Roofing also uses technology to help better serve our customers. Some steep-slope roofs that need replacement are too dangerous to get on to measure but drone technology allows us to continue to excel. The use of satellite images also helps to get a picture and measurement of roofs with pitch changes.
As always, a customer relationship management system helps keep the roof replacement project on track allowing for quick customer communication.Government regulations have played an impact on what effects global warming potential in other northern and western states. This has yet to reach the VA area.New materials for roofing such as synthetic materials are starting to help with durability and waterproofing. These newer options help recycle and keep rubber and plastic out of landfill deposits. A new roofing material that is of popular conversation would be solar shingles.
The roofing industry continues to grow and Cenvar is here with it!