Freedonia Group, a business research company, recently published the results of their study on the growth of the gutter and downspout market. Presenting historical data covering the period between 2007 and 2017, they projected the demand for such products to reach $6 billion by the year 2022. Gains in linear feet, however, are expected to slow down thanks to a predicted decline in residential improvements and repairs.
Gutter Helmet® of Minnesota, your local provider of the best gutter covers, discusses the implications of this projected market growth for homeowners.
Data Reveals Period of Heavy Gutter Replacement
The study showed that demand for gutter products relied heavily on residential repairs and improvement. In fact, between 2012 and 2017, re-roofing activities have seen a tremendous increase, resulting in strong sales gains. Economic improvements years after the recession, as well as the U.S. experiencing one of the costliest hurricane seasons to date, occurred within said period. From that high base, replacement activity is expected to slow down going through 2022.
Ongoing Tariffs on Steel and Aluminum
The current administration’s continued imposition of aluminum and steel tariffs also plays a huge part in the projected growth of the market and the decline in replacement activity. As U.S. coil producers increase the price of these raw materials, contractors fabricating the coil to create gutters and downspouts pass these high costs to their customers.
Higher prices for these products, however, tend to hurt the competitive advantage of contractors. Fortunately, a decrease in demand is not likely to happen and may still result in considerable value gains. Gutters are often considered as additions to larger projects like roof replacement or siding installations.
Paving the Way for Diversification
Diversifying product lines is one way for contractors to gain a competitive advantage moving forward. They can offer a variety of gutter styles, coatings and materials. Additions like rain harvesting equipment and gutter protection systems can also be included to boost profits that come with gutter installations. All of these can also benefit homeowners who might be looking for more options on their next home improvement project.
Whether you are in need of new gutters or gutter protection systems, Gutter Helmet of Minnesota is your o-to local dealer. We don’t just offer Gutter Helmet®, the best gutter covers, but we also install GenGo designer series gutters and the Helmet Heat® ice reduction system. Call us at (866) 200-5339 or fill out our contact form to learn more about our products. We serve residents of Monticello, MN.
