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The Remodeling Market is expected to expand at a modest CAGR (Compound Annual Growth Rate) of 5.5% between 2023 and 2030, after having surpassed USD 4,079 billion in 2023.
The transformational shift in consumer preferences and purchasing behaviors, as well as the increased investments in repairing and maintaining aged infrastructure, are the primary drivers of this expansion. Demand for the renovation sector rises as more people update and customize their homes and workplaces. Renovation and transformation services are in high demand in the residential, commercial, and industrial sectors due to the confluence of urbanization, technological breakthroughs, and shifting design aesthetics. Over the course of the projection period, this consumer-driven trend is expected to radically alter the industrial landscape by stimulating innovation and directing remodeling projects to meet the shifting needs of contemporary lives and workplaces.
Remodeling, home improvement, and home renovation all relate to the same thing: making changes to or additions to one's dwelling. Improvements to the property's façade, interior, or both are all fair game. The motivation behind this endeavor could be anything from a simple desire to improve the home's aesthetics to a more practical goal like increasing the family's security. Rapid urbanization, rising demand for home repairs rather than rebuilding, and customers' inclination toward new technologies have all contributed to the sector's expansion. Homeowners invest in periodic renovations to extend the lifespan of their dwellings.
To better inform vendors, this research will break down the market's potential by geography and product category. Understanding the existing market condition and the way it will evolve in the future was crucial for estimating the opportunity. In order to predict the market, researchers are closely comparing production and consumption habits. The expansion of adjacent markets, rising sales by leading market vendors, scenario-based analyses, and expanding market segments are all taken into account when making predictions about the overall market.
The market size was estimated using both a top-down and bottom-up strategy, and the results were verified by in-depth interviews with market participants. Taking into account the characteristics of the market, we calculated the Construction Materials by summing their respective segments, calculating the Construction Materials' share of the Diversified Materials market, and calculating the vendor market share. The effect of a number of elements, including drivers, trends, constraints, and opportunities, was identified and studied to forecast market expansion. We evaluated the yearly expansion of the market to get a feel for its dynamics. We also examined growth rates over time to spot trends.
The market is split into the residential and commercial sectors according to its ultimate consumer. Over $650.0 billion was spent in 2022 on residential exterior renovations and additions. In Brazil, where an increasing number of people are interested in enhancing the appearance of their homes, offices, stores, hotels, and restaurants, this sector is expected to expand rapidly in the next years. Investments in redesigning the interior and exterior of hotels across the hospitality sector would help shape segment perspective, as would the strengthening of the tourism industry.
Report Coverage
Global Remodeling research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Remodeling report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Remodeling competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Remodeling market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Remodeling market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Remodeling market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Andresen Corporation, Dow Inc, Jeld-Wen Holdings Inc, Kajaria Ceramics Limited, Kohler Co, Mohawk Industries Inc, Pella Corporation, Harvey Building Products, Seven Group Holdings Limited, The Home Depot, Masco Corporations, Neil Kelly Company, Case Design, Rockwool International, Henkel Construction.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Remodeling market based on the below-mentioned segments:
Global Remodeling Market, By End User
Residential
Commercial
Global Remodeling market, Regional Analysis
The transformational shift in consumer preferences and purchasing behaviors, as well as the increased investments in repairing and maintaining aged infrastructure, are the primary drivers of this expansion. Demand for the renovation sector rises as more people update and customize their homes and workplaces. Renovation and transformation services are in high demand in the residential, commercial, and industrial sectors due to the confluence of urbanization, technological breakthroughs, and shifting design aesthetics. Over the course of the projection period, this consumer-driven trend is expected to radically alter the industrial landscape by stimulating innovation and directing remodeling projects to meet the shifting needs of contemporary lives and workplaces.
Remodeling, home improvement, and home renovation all relate to the same thing: making changes to or additions to one's dwelling. Improvements to the property's façade, interior, or both are all fair game. The motivation behind this endeavor could be anything from a simple desire to improve the home's aesthetics to a more practical goal like increasing the family's security. Rapid urbanization, rising demand for home repairs rather than rebuilding, and customers' inclination toward new technologies have all contributed to the sector's expansion. Homeowners invest in periodic renovations to extend the lifespan of their dwellings.
To better inform vendors, this research will break down the market's potential by geography and product category. Understanding the existing market condition and the way it will evolve in the future was crucial for estimating the opportunity. In order to predict the market, researchers are closely comparing production and consumption habits. The expansion of adjacent markets, rising sales by leading market vendors, scenario-based analyses, and expanding market segments are all taken into account when making predictions about the overall market.
The market size was estimated using both a top-down and bottom-up strategy, and the results were verified by in-depth interviews with market participants. Taking into account the characteristics of the market, we calculated the Construction Materials by summing their respective segments, calculating the Construction Materials' share of the Diversified Materials market, and calculating the vendor market share. The effect of a number of elements, including drivers, trends, constraints, and opportunities, was identified and studied to forecast market expansion. We evaluated the yearly expansion of the market to get a feel for its dynamics. We also examined growth rates over time to spot trends.
The market is split into the residential and commercial sectors according to its ultimate consumer. Over $650.0 billion was spent in 2022 on residential exterior renovations and additions. In Brazil, where an increasing number of people are interested in enhancing the appearance of their homes, offices, stores, hotels, and restaurants, this sector is expected to expand rapidly in the next years. Investments in redesigning the interior and exterior of hotels across the hospitality sector would help shape segment perspective, as would the strengthening of the tourism industry.
Report Coverage
Global Remodeling research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Remodeling report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Remodeling competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Remodeling market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Andresen Corporation, Dow Inc, Jeld-Wen Holdings Inc, Kajaria Ceramics Limited, Kohler Co, Mohawk Industries Inc, Pella Corporation, Harvey Building Products, Seven Group Holdings Limited, The Home Depot, Masco Corporations, Neil Kelly Company, Case Design, Rockwool International, Henkel Construction. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Remodeling Market from 2021 to 2030.
- Market Forecast for Remodeling Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Remodeling competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Remodeling
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Remodeling market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Remodeling market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Andresen Corporation, Dow Inc, Jeld-Wen Holdings Inc, Kajaria Ceramics Limited, Kohler Co, Mohawk Industries Inc, Pella Corporation, Harvey Building Products, Seven Group Holdings Limited, The Home Depot, Masco Corporations, Neil Kelly Company, Case Design, Rockwool International, Henkel Construction.
Primary Target Market
- Market Players of Remodeling
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Remodeling market based on the below-mentioned segments:
Global Remodeling Market, By End User
Residential
Commercial
Global Remodeling market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
You will get in-depth and extensive remodeling market market research and competitor analysis for your business to help you develop more profound insights into the remodeling market Market.
Through INFINITIVE Data Expert is a professional Market Research services, I will identify the remodeling market market size, demand & opportunities, growth rate, and target audience with a comprehensive analysis of your competitors.