Remodeling Market Size, Share, Industry Analysis, Trends, Growth, Forecasts, 2032

Remodeling Market

Remodeling Market By End Use (commercial, residential, and others), By Competitive Players (Andersen Corporation, Dreamstyle Remodeling, The Sherwin -Williams Company, Masco Corporation, The Home Depot JELD-WEN), And By Region: - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts, 2024-2032

Category: Consumer Goods Report Format : PDF Report Code: ZMR-6076 Status : Upcoming
Market Size in 2023 Market Forecast in 2032 Growth Rate (in %) Base Year
USD 975.65 Billion USD 1412.87 Billion CAGR at 4.20% 2023

Description

According to the report published by Zion Market Research, the global Remodeling Market size was valued at USD 975.65 Billion in 2023 and is predicted to reach USD 1412.87 Billion by the end of 2032. The market is expected to grow with a CAGR of 4.20% during the forecast period. The report analyzes the global Remodeling Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Remodeling Market industry.

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Global Remodeling Market: Overview

Remodeling is the term coined for changing the design and functioning of an area. This may involve reconfiguration of the kitchen layout or tearing out a wall of a bathroom for its expansion. Constructing an addition to the home or commercial space is also remodeling. In the house, remodeling can be done with interior or exterior additions or changes for improving the property value or for self-living purposes.

Global Remodeling Market: Growth Factors

The global remodeling market is growing at a lucrative rate. Factors that are contributing to the growth of the global remodeling market include an increase in disposable income in developing countries, a change in consumer preferences to enhance the aesthetics & functionality, and a rise in remodeling of bathrooms & kitchens. In addition to this, it is been observed that there is a rise in spending on home improvement either to repair or replace the decay, defect & damage or to make the home a better to suit their lifestyle.

Additionally, the age of the housing stocks, existing home sales, and home price appreciation are the key indicators for remodeling activities. All these factors coupled with demographic shifts are surging the growth of the global market. Upgradation of the existing systems, remodeling of restaurants & hotels to maintain the ambience & attract consumers, and rapid urbanization are also some of the key features that are fueling the growth of the market. Moreover, an increase in remodeling activities as per the changing preference of the millennial and baby boomer is also significantly contributing to the growth of the market.

Furthermore, the rise in demand for commercial remodeling with the rise in the number of offices and companies in the developing countries due to economic growth may open beneficial opportunities for the growth of the global remodeling market during the forecast period. However, the requirement of more professional laborers, high material cost, and the necessity to reconfigure ductwork, plumbing & wiring may make the remodeling project pricey and complex. This may hinder the growth of the global remodeling market.

The global remodeling market has witnessed multifaceted effects during the outbreak of the Covid-19. Owing to strict regulations such as complete lockdown, stay-at-home orders, and restrictions on movement, most people are spending more time at home. The consumers are thus seeking to make their spaces functional and working on outdoor entertaining spaces, gardens, and redoing decks. In the first half of the year 2020, the market experienced a negative impact due to disruption in the supply chain and restrictions on personal movement. In addition to this, the change in consumer behavior has also affected the market growth as the consumers are leaning towards small-scale remodeling that is of low cost or DIY. However, in 2021, the market may speed up the growth rate with the rise in remodeling of kitchen, bathroom, hotels, and offices.

Global Remodeling Market: Segmentation

The global remodeling market is bifurcated into end use and region.

Based on the end use, the global remodeling market is divided into commercial, residential, and others. The commercial segment is expected to dominate the market during the forecast period owing to the rise in remodeling activities in retail space, restaurants, and commercial offices.

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Remodeling Market : Report Scope

Report Attributes Report Details
Report Name Remodeling Market Research Report
Market Size in 2023 USD 975.65 Billion
Market Forecast in 2032 USD 1412.87 Billion
Growth Rate CAGR of 4.20%
Number of Pages 196
Key Companies Covered Andersen Corporation, Dreamstyle Remodeling, The Sherwin -Williams Company, Masco Corporation, The Home Depot JELD-WEN, Case Design/Remodeling, Pella Corporation, State-wide Remodeling, Power Home Remodeling Group, and Harvey Building Products
Segments Covered By End Use and By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2023
Historical Year 2018 to 2022
Forecast Year 2024 - 2032
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Global Remodeling Market: Regional Analysis

Europe is expected to hold the maximum share in the market and retain its dominancy in the global remodeling market over the forecast period. Factors such as the rise in alteration of existing infrastructure, increase in the reconstruction of energy-efficient buildings, and increase in remodeling activities from millennials are driving the growth of the market in this region. On the other hand, Asia Pacific is anticipated to grow at a speedy rate owing to a rise in disposable income, changing lifestyle preferences of the consumer, and growing remodeling activities to improve the value of the property.

Global Remodeling Market: Competitive Players

  • Andersen Corporation
  • Dreamstyle Remodeling
  • The Sherwin -Williams Company
  • Masco Corporation
  • The Home Depot JELD-WEN
  • Case Design/Remodeling
  • Pella Corporation
  • State-wide Remodeling
  • Power Home Remodeling Group
  • Harvey Building Products

are some of the major players that are operating in the global remodeling market.

The Global Remodeling Market is segmented as follows:

By End Use 

  • commercial 
  • residential 
  • and others

Global Remodeling Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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FrequentlyAsked Questions

The global remodeling market is growing at a lucrative rate. Factors that are contributing to the growth of the global remodeling market include an increase in disposable income in developing countries, a change in consumer preferences to enhance the aesthetics & functionality, and a rise in remodeling of bathrooms & kitchens. Furthermore, the rise in demand for commercial remodeling with the rise in the number of offices and companies in the developing countries due to economic growth may open beneficial opportunities for the growth of the global remodeling market during the forecast period.

Andersen Corporation, Dreamstyle Remodeling, The Sherwin -Williams Company, Masco Corporation, The Home Depot JELD-WEN, Case Design/Remodeling, Pella Corporation, State-wide Remodeling, Power Home Remodeling Group, and Harvey Building Products are some of the major players that are operating in the global remodeling market.

Europe is expected to hold the maximum share in the market and retain its dominancy in the global remodeling market over the forecast period. Factors such as the rise in alteration of existing infrastructure, increase in the reconstruction of energy-efficient buildings, and increase in remodeling activities from millennials are driving the growth of the market in this region.

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