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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 | Jun 2014

Touched up: Housing market and disposable income growth will boost demand for remodeling

IBISWorld’s Remodeling market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

Report Snapshot
Market Share of Companies
There are no companies with a dominant market share
Industry Statistics & Market Size
Revenue
$52bn
Annual Growth 09-14
3.8%
Annual Growth 14-19
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Profit
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Employment
804,391
Businesses
102,915
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 2019, 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 Products Chapter

Room additions and interior alterations

This segment is the largest source of revenue, estimated at 39.0% in 2014. It includes revenue from homeowners adding additional bedrooms, baths, kitchens, recreational rooms, offices and other rooms. This segment also includes household spending on insulation, new flooring, ceilings and paneling. The largest source of revenue comes from adding bedrooms; about 4.5% of the industry's revenue comes from bedroom additions. This is partly because bedroom additions have some of the highest costs, averaging $20,676 per addition. Bathroom additions are another significant source of revenue and typically average $18,992 per addition. New flooring projects account for about 5.9% of the total revenue... 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 firms. 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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