Home Remodeling Market Expected to Reach $1,317.50 Billion by 2030
WILMINGTON, DELAWARE, UNITED STATES, April 29, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, 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.
Home remodeling projects are commonly categorized into two types: DIY (Do It Yourself) and Contractor-led. Among these, the professional segment, led by skilled labor, dominated the market in 2020. The market analysis encompasses various applications of home remodeling, including windows & doors, kitchen & bathroom, floor & roof, walls, and others.
A significant driver of this market is the surge in remodeling activities targeting older buildings. However, fluctuating prices of raw materials used in home remodeling product manufacturing pose a challenge to market growth.
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Driving Demands:
Advancements in computer-based technologies, such as visualization apps and 3D rendering software, have had a positive impact on the home remodeling market's growth trajectory. These technologies empower homeowners to easily envision architects' remodeling plans. Moreover, home remodeling serves diverse purposes, ranging from adding new space or levels to making cosmetic changes both inside and outside buildings, integrating new features, and enhancing residents' quality of life. The availability of a wide array of products and options in the home remodeling market facilitates such transformations.
Segmentation Based On:
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
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Top Players:
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 in2020.
Asia-Pacific is projected to register highest growth rate in the coming years.
The key players within the home remodeling market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the home remodeling industry.
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.
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David Correa
Allied Market Research
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