May 2024 | Report Format: Electronic (PDF)
U.S. Retractable Roofing System Market Growth & Trends
The U.S. retractable roofing system market size is expected to reach USD 1.19 billion by 2030 with a CAGR of 4.9%, according to a new report by Grand View Research, Inc. Retractable roofing systems are innovative outdoor living solutions designed to enhance the functionality and comfort of outdoor spaces by providing adjustable shelter and protection. These systems provide an option to extend or retract the canopy or roof that can be used as needed.
Retractable roofing systems play a crucial role in enhancing comfort and adapting to various weather conditions. In scorching summer weather, these systems offer shade, reducing the need for excessive cooling. Conversely, during colder months, they act as a barrier against chilly winds, helping maintain a warm and inviting ambiance in outdoor settings. This versatility has led to a surge in the adoption of retractable roofs in both residential and commercial settings.
Furthermore, the integration of retractable roofing systems allows users to expand their indoor living or commercial spaces by seamlessly connecting them with outdoor areas. Commercial establishments can increase their seating capacity, providing more options for customers, while homeowners gain extra room for leisure, entertainment, and social gatherings. This expansion often leads to an increase in property values and the potential for businesses to generate additional income.
Retractable roofing systems offer a wide range of options in terms of design, materials, and styles, enabling users to tailor their outdoor spaces to align with their specific aesthetic tastes and architectural motifs. Their sleek and contemporary look has the potential to elevate the visual allure of properties, rendering them more welcoming and appealing to residents, guests, and potential purchasers. These elements have proven advantageous to the market and are poised to drive the demand for retractable roof systems in the foreseeable future.
The restrictions imposed by the governments of North America amid the outbreak of COVID-19 in 2020–2021 created new growth opportunities for the U.S. outdoor living structures market that triggered the demand for retractable roofing systems in the country. This trend is expected to continue in the coming years as well due to the increased preference for working remotely witnessed among the young working population of the U.S. It is expected to contribute to the demand for retractable roofing systems in residential applications in the country in the coming years.
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U.S. Retractable Roofing System Market Report
U.S. Retractable Roofing System Market Report Highlights
- Based on the retractable roof type, the retractable awnings segment led the market with the highest revenue share of 78.0% in 2022. The growth can be attributed to the rising consumer preference for outdoor seating spaces such as decks and patios. Surging consumer spending on outdoor living spaces is expected to fuel the demand for retractable awnings in the U.S. in the coming years
- The retractable louvered roof segment is expected to grow at the highest CAGR of 5.4% over the forecast period. Louvered roofs can adapt to changing environments with the help of their smart sensors without using any remote control to operate the louvers of these roofs. In addition, they offer a wide range of features, as well as provide a modern and sophisticated look to outdoor living structures
- Based on application, the residential segment was valued at USD 499.5 million in 2022. The rising demand for retractable roofing systems, primarily driven by the growing inclination of people to enjoy outdoor experiences has sparked a surge in outdoor activities, such as al fresco dining, entertainment, and relaxation
U.S. Retractable Roofing System Market Segmentation
Grand View Research has segmented the U.S. retractable roofing system market based on retractable roof type, and application:
U.S. Retractable Roofing System Retractable Roof Type Outlook (Revenue, USD Million, 2018–2030)
- Retractable Glass Roof
- Retractable Louvered Roof
- Retractable Fabric Roof
- Retractable Awnings
U.S. Retractable Roofing System Application Outlook (Revenue, USD Million, 2018–2030)
- Residential
- Non-residential
List of Key Players in the U.S. Retractable Roofing System Market
- Pergola Roof
- ShadeFLA
- OpenAire
- Infinity Canopy, Inc.
- KE USA Inc.
- L.I.TRA. USA
- Roll-A-Cover, LLC
- Struxure
- Corradi USA
- AZENCO INTERNATIONAL
- Rollamatic Illuminate Living
- RETRACTABLE ROOF SYSTEMS
