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U.S. Home Remodeling Market by Project (DIY, DIFM), by Wholesale (Residential trade, Residential showroom, B2C), by End Use (Windows & doors, Kitchen additions & improvements, Bathroom additions & improvements, Landscaping, Flooring, Roofing, HVAC, Pools/Hot tubs, Electrical construction, Other room additions & alterations), by Distribution (Direct selling through online, Direct selling to consumer, Wholesale to retailer, Wholesale to consumer, Wholesalers selling online), by U.S. Forecast 2025-2033
The size of the U.S. Home Remodeling Market was valued at USD 432 Billion in 2023 and is projected to reach USD 599.81 Billion by 2032, with an expected CAGR of 4.8% during the forecast period. You will be receiving training from data sources up until October 2023. The broad-based U.S. Home Remodeling Market, however, is thriving in many different avenues. This includes rising house prices, increased ownership amongst people, and changing preferences towards home being personalized living spaces which will lead to increased demands for home remodeling, which includes kitchens and bathrooms, installation of energy-efficient and smart home technologies, and all other types of home renovation. This has also served as a great impetus in bringing thousands of dollars when it comes to investments in home construction offices and outdoor spaces since telework became a trend for many. As well as, the further reasons for the market driving factors outward are the growing number of aging houses nowadays, considering that most of them are rehabilitative or modernized updates regarding the economics of sustainability and eco-friendly products.
The home remodeling market is highly concentrated, with the top five players accounting for around 40% of the market share. These include industry giants such as ABC Supply, The Home Depot, Ferguson Enterprises, Masco Corporation, and Lowe's Companies. Innovation is a key characteristic, with companies investing heavily in research and development to introduce new materials, designs, and technologies. The market also faces regulatory influences, as building codes and permitting requirements vary across jurisdictions. End-user concentration is significant, with homeowners comprising the majority of the market. Mergers and acquisitions are prevalent as companies seek to expand their market share and strengthen their position.
The home remodeling market is witnessing several key trends. DIY projects are on the rise, enabled by accessible information and online marketplaces. Technology is revolutionizing the industry, with virtual reality and augmented reality enhancing customer experiences and design visualization. Sustainable building practices are gaining popularity, driven by concerns about climate change. Smart home technology is also making its mark, providing homeowners with increased convenience and energy efficiency. Aging populations are creating demand for aging-in-place modifications, such as accessible bathrooms and ramps.
The U.S. is the dominant region in the home remodeling market, accounting for over 85% of the global market. Within the U.S., the Northeast and West Coast are major hubs for remodeling activity. The DIY project segment is expected to dominate the market, driven by rising homeownership rates and the increasing popularity of home improvement television shows. Wholesale distribution channels are also expected to experience significant growth as contractors and building professionals seek cost-effective and efficient procurement methods.
The U.S. Home Remodeling Market is highly fragmented, with numerous players competing for market share. Key market drivers include rising consumer spending on home improvements, growing urbanization, and the increasing demand for energy-efficient and sustainable solutions. The market is expected to continue growing steadily in the coming years, reaching a projected value of $647 billion by 2029.
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 4.8% from 2019-2033 |
Segmentation |
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Note* : In applicable scenarios
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