The residential remodelers market size is expected to see steady growth in the next few years. It will grow to $926.83 billion in 2028 at a compound annual growth rate (CAGR) of 2.3%. The growth in the forecast period can be attributed to aging population and accessibility, sustainable and energy-efficient upgrades, growing technological integration in homes, home office and remote work trends, covid-19 pandemic impact. Major trends in the forecast period include technology-driven project management, multigenerational living spaces, resilient and disaster-resistant design, energy-efficient upgrades, online presence and marketing..
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Segmentation & Regional Insights
The residential remodelers market covered in this report is segmented –
1) By Project: DIY (Do It Yourself), Professional
2) By Distribution Channel: Online, Offline
3) By Application: Flooring, Walls, Ceilings, Porches, Gardens, Garages, System And Equipment, Disaster Repair, Other Applications
North America was the largest region in the residential remodelers market in 2023. The regions covered in the residential remodelers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The rise in the construction sector is expected to propel the growth of the residential remodelers market going forward. The construction industry is concerned with the construction, alteration, and repair of structures such as houses, industries, highways, bridges, and other infrastructure. Growth in the building industry may have a favorable influence on the residential remodelling market since it leads to an increase in the number of new houses being built, which creates a demand for remodelling services. For instance, in March 2023, according to a recent statistical report published by the United States Census Bureau, a US-based agency of the Federal Statistical System, total construction spending in the United States was $1.54 trillion in November 2020, and it grew to $1.84 trillion in November 2022, reflecting a 16.3% rise. Therefore, the rise in the construction sector is driving the residential remodelers market.
Key Industry Players
Major companies operating in the residential remodelers market are focused on introducing advanced next-gen solutions leveraging innovative technologies, such as LiDAR, to gain a competitive edge in the market. The next-generation residential remodeler app with LiDAR is an innovative application that leverages Light Detection and Ranging (LiDAR) technology to facilitate advanced 3D scanning, modeling, and measurements for home remodeling and renovation projects. For instance, in October 2023, West Shore Home, a US-based home renovation and remodeling company, launched Hawkeye, its proprietary iOS application that captures lightning-fast, 3-D scans of remodeling projects in less than a minute with the help of LiDAR to provide pinpoint accuracy. The organization is beginning to lay the groundwork for a cutting-edge purchasing experience in the future by building up a complete library of 3-D scans. Its data-driven strategy will improve not just its internal operations but also the home remodeling sector as a whole. Hawkeye won’t invade customers’ privacy, and it will just measure the renovation space.
The residential remodelers market report table of contents includes:
1. Executive Summary
2. Residential Remodelers Market Characteristics
3. Residential Remodelers Market Trends And Strategies
4. Residential Remodelers Market – Macro Economic Scenario
5. Global Residential Remodelers Market Size and Growth
……………………..
31. Global Residential Remodelers Market Competitive Benchmarking
32. Global Residential Remodelers Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Residential Remodelers Market
34. Residential Remodelers Market Future Outlook and Potential Analysis
35. Appendix
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