However, the high installation cost of roofing systems restrains the market growth. For instance, in June 2020, the Government of Canada has announced rebate programme of USD 30 million, which will help homeowners to save significant amount of money incurred on construction and renovation projects. The governments of developing and developed countries such as Germany, India, China, Brazil, the UK, the U.S, and others have taken initiatives to provide their citizens with affordable housing, which will boost the growth of the roofing tile market during the forecast period. In addition, it does not need frequent cleaning as there is no gap between the roof and solar roof tiles thus, no debris can get caught in the system. The major advantage of solar roof tiles is that it acts as an alternative to conventional solar panels. For instance, in October 2019, Tesla, Inc., a U.S.-based clean energy company launched Solar Roof tiles V3. In addition, rise in disposable income has resulted into the improvement in lifestyle of consumers across the globe due to which spend on new construction and remodeling of homes has increased, which may prove to be a crucial factor in the development of the market in the near future.įurther, technological advancement in tile manufacturing and rise in popularity of solar roof tiles provide a lucrative opportunity for the roofing tiles market growth in the near future. Increase in demand for roofing tiles can be attributed to the factors such as population growth and rapid urbanization & industrialization which drive the growth of the construction industry across the globe. These factors are expected to hinder the growth of the market during the forecast period. In addition, installation of roofing tiles requires skilled labor, which involves high wages. Moreover, cost of installation of roofing system is also high. Roofing tile have low long-term cost but it has high upfront cost. The COVID 19 outbreak has affected the growth of the roofing tiles industry owing to the lockdown measure in different countries and delay in manufacturing and production of clay and concrete roofing tiles. Roof tiles are preferred in residential construction, owing to its features and properties such as longevity, durability, fire resistance, wind resistance, and low long-term cost. They are generally fixed with nails hung from the framework of a roof, overlapping the row below it. They are manufactured from materials such as terracotta, clay, concrete, and slate. Roofing tiles are a type of tiles installed on the roof of the houses and apartments. The global roofing tiles market size was valued at $30,400.0 million in 2019, and is projected to reach $41,354.9 million by 2027, registering a CAGR of 5.2% from 2020 to 2027.
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