Business research company, the Freedonia® Group, recently released a study on the gutter and downspout market growth. Through historical data covering a 10-year period between 2007 and 2017, it projected the demand for such products will reach $6.0 billion in 2022.
Gutter Helmet® Piedmont, your local company with great gutter guard reviews, explains how this slow yet steady growth affects contractors.
Providing Context
According to the Freedonia Group study, re-roofing activities saw a significant increase between 2012 and 2017, resulting in strong gutter and downspout sales gains. During the period, the U.S. experienced certain economic improvements years after the 2008 recession happened. Also, the country suffered from one of the costliest hurricane seasons to date. These are factors that brought about the uptick in the demand for these products.
Replacement Activity to Slow Down
The same organization, however, also said that going through 2022, replacement activity is expected to slow down. One factor for this is the ongoing tariffs being imposed on raw aluminum and steel. The producers are raising their prices for these raw materials, causing contractors that fabricate gutter and downspout coils to do the same, too.
Even with the high prices of gutters and downspouts, the demand won’t see a decrease anytime until 2022. Value gains may still be attained since gutter systems only have a few competitive products, and they are often additions to large-scale home improvement projects like roof replacement or siding installations.
What This Means for Contractors
The projected market growth and the accompanying decrease in replacement activity allow contractors a chance to diversify their product lineup. One can gain a competitive advantage over the others by offering gutters in a variety of colors, styles, coatings and materials. Gutter installations and subsequent profit gains can be boosted through add-on products like rain harvesting equipment and gutter protection systems.
For your gutter protection needs, turn to Gutter Helmet Piedmont. We provide exceptional products and ensure top-notch installations. Call (844) 204-1015, or fill out our contact form to find out more about what we offer. We serve residents of Charlotte, NC.
