The Rain Gutter Market size is estimated to be USD 7.0 billion in 2020 and projected to reach USD 8.26 billion by 2027, at a CAGR of 2.4%. Increasing unpredictable weather conditions in North America and other regions, such as heavy downpours, heatwaves, and strong winds, have all been putting pressure on rain gutters and other home maintenance systems In 2019, the US faced extreme weather conditions, such as the Mississippi River flood, snowfalls in summer, spurred tornadoes, and Hurricane Dorian in the Bahamas, which have damaged and in some cases decimated entire structures, costing an estimated USD 1.5 billion to USD 3 billion in damages. Recent damages to the surroundings caused due to Nisarga Hurricane (June 2020) in India and other Asian countries is expected to drive the market for rain gutters in the region for the near future.
The rain gutter market in major regions such as North America and Europe is in its mature stage, and thus, it is difficult to achieve profits at competitive prices. In order to stay competitive, manufacturers are also focusing on the expansion of their product lines by including new colours and styles, promoting value-added products, such as gutter guards, rain harvesting equipment, and rain chains, and other decorative items.
The improving economic conditions and severe weather conditions in various North American countries, in the last few years, resulted in more re-roofing projects, which typically include gutter replacement. This creates an opportunity for market players. As per New Building Materials and Construction World Magazine, ASEAN, a 10-country regional bloc consisting of the Philippines, Indonesia, Malaysia, Thailand, Vietnam, Cambodia, Myanmar, Singapore, Laos, and Myanmar, highlights USD 250 billion potential in construction. In these countries, the construction sector is expected to grow at 7.5%, compared to the global growth of 3% over the same period, by 2021.
The rain gutter manufacturers are dependent on local contractors and labours for installation, and do not have a permanent workforce and thus, face the problem of a qualified workforce for the installation of rain gutters. Gutter manufacturers and contractors are finding it difficult to get qualified and professional gutter installers in their areas. The labour cost is continuously increasing along with material cost, which creates difficulty in maintaining competitive pricing as well as affects the profitability. Few players say their expansion efforts have been scaled back, because, with the baby boomers retiring, and millennials disinterested in the construction industry, they are unable to find qualified workers for gutter work.
The rain gutter market is dominated by the regional players and fragmented market at regional level. A few established players such as Lindab (Sweden), Gibraltar Industries Inc (US), KMEW Co. Ltd (Japan), BraasMonier Building Group (UK), Senoxcorporation (US) are the key players.
Rain gutters have been historically used in the Asian region for rainwater harvesting, mainly to conserve water for the months of summer as there is uneven rainfall during the monsoons. The construction industry in APAC is growing at a high rate.
Many countries in APAC are facing difficult times due to the COVID-19 pandemic, and hence the construction industry is witnessing substantially slow growth along with economic slowdown. Since China has been severely affected along with other countries, the lockdown and general containment measures imposed to stop the virus spread continues to have a significant impact on the overall Asian construction sector. This has delayed many ongoing projects, and some of the projects have been stopped to contain the spread of the virus. This is expected to slow down the construction and, in turn, the rain gutter market growth in 2020. However, the market is expected to start recovering in early 2021.
The rain gutter market in major regions such as North America and Europe is in its mature stage, and thus, it is difficult to achieve profits at competitive prices. In order to stay competitive, manufacturers are also focusing on the expansion of their product lines by including new colours and styles, promoting value-added products, such as gutter guards, rain harvesting equipment, and rain chains, and other decorative items.
The improving economic conditions and severe weather conditions in various North American countries, in the last few years, resulted in more re-roofing projects, which typically include gutter replacement. This creates an opportunity for market players. As per New Building Materials and Construction World Magazine, ASEAN, a 10-country regional bloc consisting of the Philippines, Indonesia, Malaysia, Thailand, Vietnam, Cambodia, Myanmar, Singapore, Laos, and Myanmar, highlights USD 250 billion potential in construction. In these countries, the construction sector is expected to grow at 7.5%, compared to the global growth of 3% over the same period, by 2021.
The rain gutter manufacturers are dependent on local contractors and labours for installation, and do not have a permanent workforce and thus, face the problem of a qualified workforce for the installation of rain gutters. Gutter manufacturers and contractors are finding it difficult to get qualified and professional gutter installers in their areas. The labour cost is continuously increasing along with material cost, which creates difficulty in maintaining competitive pricing as well as affects the profitability. Few players say their expansion efforts have been scaled back, because, with the baby boomers retiring, and millennials disinterested in the construction industry, they are unable to find qualified workers for gutter work.
The rain gutter market is dominated by the regional players and fragmented market at regional level. A few established players such as Lindab (Sweden), Gibraltar Industries Inc (US), KMEW Co. Ltd (Japan), BraasMonier Building Group (UK), Senoxcorporation (US) are the key players.
Rain gutters have been historically used in the Asian region for rainwater harvesting, mainly to conserve water for the months of summer as there is uneven rainfall during the monsoons. The construction industry in APAC is growing at a high rate.
Many countries in APAC are facing difficult times due to the COVID-19 pandemic, and hence the construction industry is witnessing substantially slow growth along with economic slowdown. Since China has been severely affected along with other countries, the lockdown and general containment measures imposed to stop the virus spread continues to have a significant impact on the overall Asian construction sector. This has delayed many ongoing projects, and some of the projects have been stopped to contain the spread of the virus. This is expected to slow down the construction and, in turn, the rain gutter market growth in 2020. However, the market is expected to start recovering in early 2021.
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