The global home remodeling market size was valued at $852.1 billion in 2020, and is projected to reach $1,317.5 billion by 2030, registering a CAGR of 4.3% from 2021 to 2030. Home remodeling is the process of making alterations to the existing residential unit, in order to improve is serviceability and aesthetical appearance. The alterations typically include repairing structures or fixtures, expanding the existing space, and other changes intended toward improving safety of the buildings.
Home remodeling solutions are available for a wide range of applications such as doors, windows, lighting systems, flooring solutions, and others. Furthermore, home remodeling is a great solution when it comes to achieving most out of the existing building. In addition, the new look that can be achieved in the existing old structure; through home remodeling, is also one of the reasons that drive the demand in the home remodeling market.
The surge in investments on the maintenance of ever-increasing number of old buildings drives the demand in the home remodeling market. In addition to this, the high cost of constructing a completely new house, encourages the homeowners to remodel their existing old houses instead of buying a new one. This further adds to the demand in home remodeling market. However, high labor cost is one of the constraints to the market growth. Furthermore, advancement in the computer-based technologies such as visualization apps, 3D rendering software, and others, has enabled the homeowners to visualize the remodeled house on a computer screen, providing lucrative opportunities for the growth of the market.
The home remodeling market is segmented on the basis of type, application, distribution channel, and region. By project type, the market is categorized into Do It Yourself (DIY) and professional. On the basis of application, it is categorized into windows & doors, kitchen & bathroom, floor & roof, walls, and others. And on the basis of distribution channel, the market is categorized into online and offline. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players that operate in the global market have adopted key strategies such as product launch, business expansion, and product development to strengthen their market outreach and sustain the stiff competition in the market
Key companies profiled in the home remodeling market report include Andersen Corporation, Dow Inc., IndustrieCottoPossagno S.p.A, JELD-WEN, Kajaria Ceramics Ltd., Kohler Co., Lutron Electronics Co., Inc, Mohawk Industries, Inc., Pella Corporation and Seven Group Holdings Limited (Boral Limited)
Home remodeling solutions are available for a wide range of applications such as doors, windows, lighting systems, flooring solutions, and others. Furthermore, home remodeling is a great solution when it comes to achieving most out of the existing building. In addition, the new look that can be achieved in the existing old structure; through home remodeling, is also one of the reasons that drive the demand in the home remodeling market.
The surge in investments on the maintenance of ever-increasing number of old buildings drives the demand in the home remodeling market. In addition to this, the high cost of constructing a completely new house, encourages the homeowners to remodel their existing old houses instead of buying a new one. This further adds to the demand in home remodeling market. However, high labor cost is one of the constraints to the market growth. Furthermore, advancement in the computer-based technologies such as visualization apps, 3D rendering software, and others, has enabled the homeowners to visualize the remodeled house on a computer screen, providing lucrative opportunities for the growth of the market.
The home remodeling market is segmented on the basis of type, application, distribution channel, and region. By project type, the market is categorized into Do It Yourself (DIY) and professional. On the basis of application, it is categorized into windows & doors, kitchen & bathroom, floor & roof, walls, and others. And on the basis of distribution channel, the market is categorized into online and offline. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The major players that operate in the global market have adopted key strategies such as product launch, business expansion, and product development to strengthen their market outreach and sustain the stiff competition in the market
Competition Analysis
Key companies profiled in the home remodeling market report include Andersen Corporation, Dow Inc., IndustrieCottoPossagno S.p.A, JELD-WEN, Kajaria Ceramics Ltd., Kohler Co., Lutron Electronics Co., Inc, Mohawk Industries, Inc., Pella Corporation and Seven Group Holdings Limited (Boral Limited)
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging home remodelingmarkettrends and dynamics.
- In-depth market analysis is conducted by constructing market estimations for the key Market Segments between 2020 and 2030.
- Extensive analysis of the home remodeling market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all regions is provided to determine the prevailing opportunities.
- The global home remodelingmarketforecast analysis from 2021 to 2030 is included in the report.
- The key market players within home remodelingmarkets are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the home remodeling industry.
Key Market Segments
By Project Type
- DIY (Do it yourself)
- Professional
By Distribution Channel
- Online
- Offline
By Application
- Windows and Doors
- Kitchen and Bathroom
- Floor and Roof
- Walls
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Italy
- U.K.
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Andersen Corporation
- Dow Inc.
- Industrie Cotto Possagno S.p.A
- Jeld-Wen Holdings Inc.
- Kajaria Ceramics Limited
- Kohler Co.
- Lurton Electronics
- Mohawk Industries, Inc.
- Pella Corporation
- Seven Group Holdings Limited (Boral Limited)
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: HOME REMODELING MARKET: GLOBAL OPPORTUNITY ANALYSIS AND INDUSTRY FORECAST, 2020-2027 MARKET, BY PROJECT TYPE
CHAPTER 5: HOME REMODELING MARKET: GLOBAL OPPORTUNITY ANALYSIS AND INDUSTRY FORECAST, 2020-2027 MARKET, BY DISTRIBUTION CHANNEL
CHAPTER 6: HOME REMODELING MARKET: GLOBAL OPPORTUNITY ANALYSIS AND INDUSTRY FORECAST, 2020-2027 MARKET, BY APPLICATION
CHAPTER 7: HOME REMODELING MARKET: GLOBAL OPPORTUNITY ANALYSIS AND INDUSTRY FORECAST, 2020-2027 MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Home Remodeling Market,' the home remodeling market size was valued at $852.10 billion in 2020, and is estimated to reach $1,317.50 billion by 2030, growing at a CAGR of 4.3% from 2021 to 2030.Commonly observed types of home remodeling projects are DIY (Do It Yourself) and Contractor. Among these, the project type, the professional segment accounted for the highest market share in 2020, owing to requirement of skilled labor. The market is analyzed with respect to different applications of home remodeling such as windows & doors, kitchen & bathroom, floor & roof, walls and others. The market is mainly driven by rise in remodeling activities of the old buildings. However, fluctuating prices of raw materials used for manufacturing of home remodeling products is a restraining factor that hinders the growth of the market.
In 2020, North America dominated the global home remodeling market, in terms of revenue, followed by Europe and Asia-Pacific. Moreover, the market in Asia-Pacific has grown with high CAGR, owing to increase in disposable income of homeowner, which eventually led to increased spending on home remodeling activities by them.
The advancements in the computer-based technologies such as visualization apps, 3D rendering software, and other such technologies have positively influenced the growth in the home remodeling market. Such advancements have enabled the homeowners to easily visualize the intentions of the architects related to remodeling. Moreover, home remodeling is done for many purposes, such as; to add new space or level in the house, making cosmetic changes inside & outside the buildings, adding new features to the buildings, and other changes meant for improving quality of life of the residents of buildings. This is possible due to availability of different types of products and options in the home remodeling market.
Furthermore, on the basis of application type, the demand for others segment is anticipated to grow rapidly, during the forecast period due to awareness regarding security and fire safety.
For instance, in January 2022, Pella Corporation, a leading manufacturer of windows and doors, unveiled its latest innovation the ‘Hidden Screen’. This innovative design makes the screen appear when the window is opened and folds away when the window is closed. Pella is the first company to incorporate this feature in its vinyl windows.
However, during the pandemic lockdown, various manufacturers in the home construction market had to stop their business in countries such as China, the U.S., and India. This break directly impacted sales of home renovation product manufacturing companies. In addition, lack of manpower and raw materials constricted supply of home remodeling components; and has negatively influenced the home remodeling market growth. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of home remodeling product manufacturing companies.
Key companies profiled in the home remodeling market report include Andersen Corporation, Dow Inc., Industrie Cotto Possagno S.p.A, JELD-WEN, Kajaria Ceramics Ltd., Kohler Co., Lutron Electronics Co., Inc, Mohawk Industries, Inc., Pella Corporation and Seven Group Holdings Limited (Boral Limited).
Key findings of the Study
- The report provides an extensive analysis of the current and emerging home remodeling market trends and dynamics.
- Depending on type, the ride-on mowers dominated the home remodeling market share, in terms of revenue in 2020 and the robotic mower segment is projected to grow at a significant CAGR during the home remodeling market forecast.
- By end user, residential segment registered highest revenue in 2020.
- Asia-Pacific is projected to register highest growth rate in the coming years.
The report provides an extensive analysis of the current trends and emerging opportunities of the market.
In-depth home remodeling market analysis is conducted by constructing estimations for the key segments between 2021 and 2030.
Companies Mentioned
- Andersen Corporation
- Dow Inc.
- Industrie Cotto Possagno S.p.A
- Jeld-Wen Holdings Inc.
- Kajaria Ceramics Limited
- Kohler Co.
- Lurton Electronics
- Mohawk Industries, Inc.
- Pella Corporation
- Seven Group Holdings Limited (Boral Limited)
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 227 |
| Published | April 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 852.1 billion |
| Forecasted Market Value ( USD | $ 1317.5 billion |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
