The Home Improvement Services Global Market Report 2023 by The Business Research Company, provides home improvement services market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Home Improvement Services Global Market Report 2023, the global home improvement services market is expected to grow from $324.87 billion in 2022 to $343.80 billion in 2023 at a compound annual growth rate (CAGR) of 5.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global home improvement services market is expected to grow to $423.98 billion in 2027 at a CAGR of 5.4%.
Increasing demand for remodeling homes is expected to propel the growth of the home improvement services market going forward. Home remodeling refers to the renovation of real estate. This involves making alterations or enhancements to a house or other real estate. In addition to upgrading residential buildings, house upgrades can also relate to renovating commercial and company assets.
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The home improvement services market is segmented:
1) By Type: Kitchen Renovation and Addition, Bathroom Renovation and Addition, Exterior and Interior Replacements, System Upgrades, Other Types
2) By City Type: Metro Cities, Other Non-Metro Cities and Towns
3) By Buyers Age: Under 35, 35-54, 55-64, Above 65
Technological innovations are a key trend gaining popularity in the home improvement services market. Modern computer-based technologies have inspired homeowners to make improvements to their homes, such as visualization apps and 3D software. Manufacturers are concentrating on launching innovative products like windows and doors that open quickly and effortlessly. Such innovation enable key players to gain a competitive edge in the market. For instance, in December 2020, Pella Corporation, a US-based window, and door manufacturing company, launched the new Easy-Slide Operator, the new hardware solution offers a considerably smoother operation than continuously cranking by allowing homeowners to just slide the operator up to open and down to close the window. The innovative design of the Easy-Slide Operator brings modern technology and aesthetics to the window and door industry.
The home improvement services market report table of contents includes:
1. Executive Summary
2. Home Improvement Services Market Characteristics
3. Home Improvement Services Market Trends And Strategies
4. Home Improvement Services Market – Macro Economic Scenario
5. COVID-19 Impact On Home Improvement Services Market
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26. Africa Home Improvement Services Market
27. Home Improvement Services Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Home Improvement Services Market
29. Home Improvement Services Market Future Outlook and Potential Analysis
30. Appendix
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