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Remodeling in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Remodeling Market Research Report | NAICS 23611d | Mar 2016

Touched up: Housing market growth will provide a boost to industry demand and revenue

IBISWorld’s Remodeling market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Market Share of Companies
There are no companies with a dominant market share
Industry Statistics & Market Size
Revenue
$61bn
Annual Growth 11-16
4.5%
Annual Growth 16-21
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Profit
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Employment
335,403
Businesses
101,333
Industry Analysis & Industry Trends

The Remodeling industry's foundation shook as the housing bubble burst, with several factors contributing to discourage consumers from spending on home improvements. During the five years to 2021, industry recovery will be driven by improvements in employment and per capita disposable income. Home prices are expected to continue rising, facilitating growth in demand for industry services because homeowners often leverage the value of their homes through loans to fund remodeling projects... purchase to read more

Industry Report - Industry Key Buyers Chapter

The Remodeling industry has a low level of concentration. The top three largest operators account for less than 5.0% of industry revenue in 2016. Only 0.1% of operators employ more than 100 workers; most industry operators are smaller operators that specialize in specific regions or industries; 83.8% of enterprises have fewer than five employees.

During the five years to 2016, many operators reentered the industry due to the strong rebound in the housing market. Early in the time period, homeowners either postponed remodeling projects or participated in do-it-yourself (DIY) projects, reducing demand for industry services. Since smaller players are typically most sensitive to changes in demand, they were the first to exit when operating conditions suffered... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Remodeling Industry?

Operators in this industry remodel and renovate the interiors and exterior of residential buildings (i.e. single-family homes and multifamily apartment building units). Remodeling includes additions, alterations, reconstruction, maintenance and repair work. This industry is composed of general contractors, operative remodelers, remodeling design-build firms and remodeling project construction management companies. This industry does not include commercial remodeling.

Industry Products
Kitchen remodelingBathroom remodelingRoom additions and other interior alterationsOutside additionsSystems and equipmentDisaster repairs
 
Industry Activities
Residential additions, alterations and renovations Construction management for residential remodelingFire and flood restorationHome improvementPorch constructionSunroom additionsKitchen and bathroom upgradesOther remodeling projects


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