Global Home Remodeling Market Report and Forecast 2024-2032

Global Home Remodeling Market Outlook

The global home remodeling market size reached approximately USD 665.86 billion in 2023. The market is assessed to grow at a CAGR of 5.6% between 2024 and 2032 to attain a value of around USD 1094.34 billion by 2032.

Key Trends in the Market

Home remodelling, variously known as property renovation, refers to improvements and changes made to a residential property. Remodelling can enhance the aesthetics and functionality of interior and exterior spaces of homes. It can also increase the value of a home and provide a relaxing experience to homeowners.

• The home remodeling market demand is being fuelled by the increasing focus of homeowners to enhance the value of their properties. Moreover, the increasing costs of moving to new homes, coupled with the rising ageing population in developed countries, are surging spending on upgrades, renovations, and repairs.

• Ageing infrastructure in countries like the United States is prompting homeowners to upgrade spaces such as kitchens, bathrooms, family rooms, and closets, among others, as well as functionalities such as plumbing, cooling, ventilation, and heating.

• One of the key home remodeling market trends is the growing usage of technology in home renovation projects to improve the efficiency of home designing processes and make them less expensive and less time-consuming. Homeowners are also increasingly buying remodelling materials and equipment from online channels at attractive discounts and with free delivery.

Moreover, homeowners are integrating home automation and smart home technologies to enhance the versatility, usability, and functionality of homes, increase security and convenience, and reduce energy consumption and utility costs.

• Environmental concerns and rapid climate change are further driving the home remodeling market growth. There is rising usage of natural materials such as wood, hemp, bamboo, and straw, among others, in remodeling activities to eliminate the toxicity associated with chemical materials and improve the quality of life of residents.

The surging eco-consciousness is also bolstering the installation of energy-efficient components and renewable energy systems in home remodeling projects.

Market Analysis

Based on type, the home remodeling market segmentation includes DIY (do it yourself) and professional. By application, the market is divided into windows and doors, kitchen and bathroom, floor and roof, and walls, among others. The major regional markets for home remodeling include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global home remodeling market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Kohler Co.  

• Belfor Holdings Inc. 

• Crane Renovation Group  

• JELD-WEN, Inc. 

• Mr. Handyman LLC 

• Pella Corporation 

• Neil Kelly Inc 

• Dreamstyle Remodeling, Inc. 

• Steve & Sons Contracting Inc. 

• Venturi Restoration 

• Others

Market Share by Type

As per the home remodeling market analysis, DIY (do it yourself) remodelling is significantly gaining popularity due to growing interest by homeowners to expand and upgrade their spaces. With surging costs of construction materials, contractors, and labourers, homeowners are undertaking DIY home remodeling projects. Moreover, the rising popularity of various DIY home décor and remodelling trends on social media platforms like TikTok is anticipated to aid the market growth in the forecast period.

Market Share by Application

Kitchens and bathrooms account for a substantial portion of the home remodeling market share. Remodeling a kitchen and bathroom can considerably enhance the value of a home while improving the aesthetics of these spaces. Moreover, kitchen and bathroom remodeling can improve the functionality of homes and increase the quality of life of residents.

In the forecast period, homeowners are expected to extensively invest in upgrading kitchens and bathrooms to enhance the energy efficiency of homes and increase their safety and comfort.

Competitive Landscape

Kohler Co., established in 1873, is a company that is engaged in innovation and designing of bath and kitchen products. Headquartered in Wisconsin, the United States, the company offers smart bath and kitchen products, world-class hospitality experiences, and clean energy solutions.

Belfor Holdings Inc. is a company that is engaged in restoring properties that are damaged by water, fire, natural disasters, and wind. With more than 300 locations in over 35 countries, the company aims to rapidly secure the property and minimise damage. It is headquartered in Minnesota, the United States, and the company has established its position as a leading single-source provider of environmental services in the United States.

Mr. Handyman LLC is a network of operated franchises and independently owned franchises in over 200 locations across the United States. Founded in 1996, the company provides residential and commercial property repair and maintenance services. It is renowned for its home repair and maintenance and is recognised for its professional reliability and workmanship.

Other home remodeling market players include Crane Renovation Group, JELD-WEN, Inc., Pella Corporation, Neil Kelly Inc, Dreamstyle Remodeling, Inc., Steve & Sons Contracting Inc., and Venturi Restoration, among others.

Key Highlights of the Report