U.S. Retractable Roofing System Market Size, Share & Trends Analysis Report By Retractable Roof Type (Glass Roof, Louvered Roof, Fabric Roof, Retractable Awnings), By Application (Residential, Non-residential), And Segment Forecasts, 2023 - 2030

Market Size & Trends

The U.S. retractable roofing system market size was estimated at USD 812.2 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.9% from 2023 to 2030. Retractable roofing systems help in creating a comfortable environment by regulating temperature and creating a barrier against harsh weather elements. The ability of retractable roofing systems to respond to changing weather conditions is one of their most important benefits. These roofing systems enable users to regulate the quantity of sunlight or shade and offer protection from rain or wind by opening and closing the roof panels or fabric as required. This versatility helps extend the usability of areas like patios, terraces, and outdoor dining areas by converting outdoor spaces into comfortable, usable locations regardless of the weather.

Retractable roofing systems help in creating a comfortable environment by regulating temperature and creating a barrier against harsh weather elements. During hot summer days, the system provides shade, reducing the need for excessive cooling. Whereas in colder months, it can help retain warmth by acting as a barrier against chilly winds, creating a cozy atmosphere even in outdoor spaces. This has resulted in the increased adoption of retractable roofing in residential and commercial applications.

Retractable roofing systems are available in various designs, materials, and styles, allowing users to personalize their outdoor spaces to match their aesthetic preferences and architectural themes. The sleek and modern appearance of these systems can enhance the visual appeal of properties, making them more inviting and attractive to occupants, visitors, and prospective buyers. These factors have benefitted the market and are likely to propel the demand for retractable roofing in the coming years.

Moreover, architects and designers are exploring innovative ways to incorporate retractable roofing systems into their projects. Similarly, the hospitality and tourism sectors are continually evolving, with a focus on enhancing guest experiences. These factors are expected to surge the adoption of retractable roofs in resorts, hotels, restaurants, etc. in the U.S. in the coming decade.

Several states in the U.S. are witnessing an emerging trend, wherein the population category with high discretionary income is using garden areas or backyards to extend building structures into trendy dining areas, luxury hubs, working spaces, grill areas, screened porches, and sunrooms, among others. This helps customers expand their living spaces, have better space management of their plots, and increase the value of their properties. This is triggering the demand for retractable roofing systems in outdoor living structures such as patios and decks.

Moreover, restaurants, coffee shops, and event venues are among the hospitality-related businesses that profit from rising disposable income. Customers with higher disposable income are more likely to set up these commercial establishments. Retractable roofing solutions give these companies the ability to design appealing and welcoming outside eating and event spaces that satisfy patron desires for outdoor experiences while protecting them from extreme weather conditions.

Retractable Roof Type Insights

Based on the retractable roof type, the retractable awnings segment led the market with the highest revenue share of 78.0% in 2022. Surging consumer spending on outdoor living spaces is expected to fuel the demand for retractable awnings in the U.S. in the coming years. According to the International Casual Furnishings Association, after the COVID-19 pandemic, approximately 90% of Americans are of the opinion that outdoor living is more valuable than indoors, with approximately 78% of the people upgrading their outdoor areas.

These factors are expected to increase the consumption of retractable awnings in the U.S. during the forecast period owing to their low costs, ease of installation, convenient operations, sun and rain protection, improved aesthetics, minimal maintenance, and high energy efficiency. Moreover, advancements in technologies have resulted in the introduction of weather sensors. These sensors respond to changing weather conditions. With the rising number of restaurants, hotels, and cafes in the U.S., the demand for retractable awnings is anticipated to surge in the coming years.

The louvered roofs segment is projected to grow at the highest CAGR of 5.4% over the forecast period. These roofing systems have slanted horizontal rotating blades that can be opened and closed as per the requirement. These louvered roofs can be adjusted to control sunlight, offer shade, and provide rain protection. By controlling sunlight and ventilation, these roofs enable energy savings, thereby reducing the requirement for additional artificial lighting.

Application Insights

Based on application, the residential segment led the market with the highest revenue share of 61.5% in 2022 and is fostered to grow with the highest CAGR of 5.0% from 2023 to 2030. The demand for retractable roofing systems is growing in the U.S. owing to the increasing preference of people to spend time outdoors. This has led to a surge in outdoor activities among consumers, including outdoor dining, entertainment, and relaxation. It has resulted in the adoption of retractable roofing systems in the residential construction segment as they offer covering or retracting flexibility depending on weather conditions carried out either manually or through motorized systems.

The growth of the non-residential segment can be attributed to the rising adoption of retractable roofing systems in commercial spaces such as hotels, resorts, cafes, restaurants, and recreational spaces in the country. Retractable roofing systems are used in commercial spaces to improve the overall dining experience, create functional outdoor spaces, and cater to the rising demand for outdoor amenities.

Retractable roofing systems improve the exterior appearance of commercial establishments and help them utilize maximum outdoor space. These systems can be adjusted as per requirements using a remote. Moreover, they also protect the furniture of restaurants and cafes from harsh UV rays and reduce their energy consumption by blocking the sunlight and reducing their cooling costs.

Key Companies & Market Share Insights

The market is fully customer-driven, i.e., these roofing systems are built as per the specifications provided by customers. In addition, the raw materials are also selected as per customer preferences. The customers have several options to choose from; for instance, in terms of material, some customers prefer glass retractable roofs or fabric retractable roofs. The system for closing and opening the roofs also differs, which also gives options to the customers. Players in the market primarily compete based on product quality, customer service, and product pricing. Providing structures with superior sun protection, and extreme weather handling situations are considered important competitive factors.

The market is also witnessing an increase in the number of new entrants, owing to the growing market potential of the expanding architectural and outdoor construction industry. Commercial spaces, including hotels, restaurants, parks, and cafes, are increasingly adopting retractable roofing systems to make outdoor spaces profitable in every weather condition. Therefore, the companies in the market are engaged in enhancing their market position by expanding their distribution network to reach a wider customer base.

U.S. Retractable Roofing System Market Report Scope

U.S. Retractable Roofing System Market Report Segmentation

This report forecasts revenue growth at the country level and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the U.S. retractable roofing system market report based on retractable roof type, and application:

• Retractable Roof Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Retractable Glass Roof

  • Retractable Louvered Roof

  • Retractable Fabric Roof

  • Retractable Awnings

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Residential

  • Non-residential