Core Insights - Cornerstone Building Brands has acquired Mueller Supply Company, enhancing its position in the residential metal roofing and steel buildings sector [1] - The Global Carports Market, valued at USD 1.61 Billion in 2023, is projected to grow to USD 3.1 Billion by 2032, reflecting a CAGR of 7.56% from 2024 to 2032 [1][2] Market Drivers - Urbanization is increasing the demand for metal carports due to their affordability, customization, and functionality [2] - The need for protection against climate change and unpredictable weather patterns is driving demand for metal carports, as they are cost-effective and low-maintenance [3] - The DIY trend is contributing to market growth, with 45% of U.S. homeowners engaging in DIY projects in 2021 [3] Market Restraints - The high cost of premium materials like stainless steel, which has risen 8% annually over the past three years, poses a barrier to market growth [4] - Limited awareness in developing regions and regulatory challenges, such as strict zoning and building codes, hinder adoption [4] Market Opportunities - The increasing popularity of outdoor living areas is boosting demand for customizable metal carports, which can serve multiple functions [7] - The surge in electric vehicle (EV) adoption, with a 40% increase in EV ownership from 2020 to 2023, is driving demand for specialized carports with charging stations [7] Market Challenges - Competition from alternative materials like fabric and wood remains a challenge, particularly in mild climates [8] - Supply chain disruptions, including steel and aluminum shortages, are impacting production and increasing costs [8] Regional Insights - North America is expected to lead the carports market, driven by high vehicle ownership and the need for protection against harsh weather [14] - Europe is experiencing a shift towards sustainable building materials, enhancing the popularity of metal carports as eco-friendly alternatives [14] - The Asia-Pacific region is witnessing strong growth due to rapid urbanization and a rising middle class, leading to increased investments in infrastructure [14] Recent Developments - MetalGarage.com has expanded its delivery and installation services to over 21 states, enhancing its market presence [12] - Transition Capital Partners has acquired Texwin Metal Buildings, marking a significant investment in the metal building sector [12]