What Are The Home Renovation Market Shares?

The remodeling market is segmented into residential, commercial, and industrial sectors. In 2023, the residential segment emerged as dominant, commanding a market share of around 73, and is expected to reach 74 by 2032. The U.S. Home Remodeling Market was valued at USD 432 billion in 2023 and is projected to grow at a CAGR of 4.8 from 2024 to 2032. The global home improvement market is classified into kitchen improvement and additions, bath improvement and additions, system upgrades, exterior replacements, interior replacements, and property.

The remodeling market size was estimated at USD 4 trillion in 2023 and is expected to register a CAGR of around 4.2 between 2024 and 2032. The global home remodeling market is expected to be worth around USD 949.8 billion by 2033, from USD 630 Billion in 2023, growing at a CAGR of 4.30 during the forecast period.

The global home remodeling market is segmented by project type ( DIY (Do It Yourself) and Professional), distribution channel (Online and Offline), and application (Windows and Doors). The Saudi Arabian home remodeling market will generate an estimated USD 12.2 billion revenue in 2024, with a CAGR of 5.2 during 2024-2030.

The global home improvement services market reached US$ 356.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 512.6 Billion by 2032, exhibiting growth. The U.S. residential remodeling market is projected to cross USD 797.8 billion by the end of 2036, expanding at a CAGR of 6.2 during the forecast period.

The global home remodeling market is expected to reach USD xx.x Billion by 2031, growing at a CAGR of greater than 4.31. The global home remodeling market size was valued at $852.10 billion in 2020 and is projected to reach $1,317.50 billion by 2030, growing at a CAGR of 4.3 from 2021 to 2030.

What is the world’s largest home improvement company?

The Home Depot, founded in 1978, is the world’s largest home improvement retailer with over 2, 300 stores across North America. The company aims to excel in service to customers, associates, communities, and shareholders. The company’s culture and success are built on eight guiding principles, including the Inverted Pyramid, which focuses on putting customers and associates first. The Home Depot’s success is built on their dedication to excellence and their commitment to their values.

What is the largest home improvement company?

Home Depot, the largest US home improvement retailer, is headquartered in Onalaska, Wisconsin. It is a constituent of the New York Stock Exchange (NYSE), the Dow Jones Industrial Average (DJIA), the S&P 100, and the S&P 500. The company is overseen by a board of directors comprising Bernard Marcus, Arthur Blank, Ron Brill, Pat Farrah, and Ken Langone.

How many home remodeling companies are there in the US?

In 2023, the US remodeling industry exhibited an 8. 6% growth from the previous year, with 781, 646 businesses operating within the country.

Who are the global home improvement retailers?

The largest companies in the home improvement retail industry are The Home Depot, Lowe’s Companies, Floor and Decor Holdings, Inc., and Arhaus, Inc.

How big is the remodeling market in the US?

The U. S. Residential Remodeling Market was valued at USD 517. 61 million in 2023 and is expected to grow from USD 538. 10 million in 2024 to USD 754. 75 million by 2032, with a CAGR of 4. 3. The market is driven by growing consumer demand for modern lifestyles and the adoption of advanced technology, such as climate control and smart lighting, in residential spaces. The market share is also driven by the development of devices by major players and increased adoption of secured detection devices by US consumers. For example, Signify introduced a new product line in August 2023, which includes smart cameras, detection devices, and app functions from Philips Hue safeguard to help protect homes.

What is the market forecast for home improvement products?

It is anticipated that the home improvement market will reach a value of USD 797. It is projected that the market will reach 8 billion by 2036, exhibiting a compound annual growth rate (CAGR) of 6. 2%. Notable industry participants include Home Depot, Lowe’s, Ferguson Enterprises, Masco Corporation, The Sherwin-Williams Company, Watsco, Dreamstyle Remodeling, Inc., and DuPont. It is anticipated that the do-it-yourself (DIY) segment will maintain a 60% market share over the course of this period.

What home improvement stores have market share?

The Home Depot is the largest home improvement retailer, holding around 17% of the market share, followed by Lowe’s with 12%. In 2021, Home Depot’s sales exceeded $130 billion, while Lowe’s sold $89. 6 billion. However, Lowe’s customers tend to spend more per shopping trip at $96 compared to $83. As Home Depot caters more to trade professionals, and Lowe’s more towards DIYers, retail sales for Lowe’s are expected to decrease until consumer confidence resurges. Despite this, Pros are still productive and in high demand for remodeling projects. Home Depot, frequented more by Pros, posted a 3. 75 quarterly revenue growth rate in Q1 2022.

What is the home improvement industry?

The home improvement industry encompasses various home improvement projects undertaken by homeowners worldwide, including garden work, DIY projects, and home decoration. The industry has experienced significant growth in recent years, encompassing the sale of building materials, appliances, décor, and services offered by contractors, tradespeople, and workers. Homeownership is a significant part of the global economy, with many consumers seeking to make their homes more attractive and functional. In recent years, they have also started introducing integrated devices that automate various home functions. The home improvement industry is stronger than ever.

How big is the market for home decor?

The global home decor market, valued at USD 856. 26 billion in 2022, is expected to grow from USD 912. 77 billion in 2023 to USD 1522. 02 billion by 2031, at a CAGR of 6. 60. The market is driven by consumer preferences for ostentatious home décor products, particularly timber flooring and furniture. The trend towards environmentally friendly items is also driving demand for innovative home décor products using various raw materials. The market is also driven by consumer shifting preferences towards urban lifestyles, which necessitate the placement of high-quality premium furniture.

With 55. 0 percent of the world’s population living in urban areas, the demand for home décor goods is expected to increase. The growth of the home decor market is expected to be complemented by the growth in the real estate industry. The market is expected to continue expanding due to the increasing demand for high-quality, eco-friendly products.

How large is the home improvement market?

The global home improvement market, valued at USD 340. 81 billion in 2022, is expected to grow to USD 490. 13 billion by 2030, with a compound annual growth rate (CAGR) of around 4. 65 between 2023 and 2030. This segment of the building and construction industry focuses on projects aimed at improving or enhancing the functional features of existing homes, ranging from exterior improvements to plumbing systems and lighting upgrades. Home improvement and interior design are two separate segments of the building industry, but they work together to deliver houses with better appeal and functional attributes.

The main reasons for undertaking a home improvement project may vary, such as aging housing facilities or a desire for more functional spaces, such as stairlifts for elderly citizens. The demand for home improvement projects has gained momentum since COVID-19, as people invest in building houses that accommodate specific working spaces and remote work culture trends. However, changing raw material prices could act as a growth barrier.