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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 2016

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

IBISWorld’s Remodeling market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Market Share of Companies
There are no companies with a dominant market share
Industry Statistics & Market Size
Revenue
$76bn
Annual Growth 11-16
4.5%
Annual Growth 16-21
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Profit
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Employment
660,912
Businesses
419,911
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 Investment Chapter

The Remodeling industry is very labor-oriented, as it relies on employees to carry out most industry activities. Therefore, the industry requires a low level of capital investment and instead allocates much of its cost structure to labor payments, which accounts for 23.1% of revenue. Purchases account for 56.9% of industry revenue. These costs are largely related to materials, components and supplies used during service requests as well as the costs associated with contracting work out to third-party subcontractors. Depreciation absorbs only 1.0% of industry revenue, and capital purchases are largely limited to vehicles and computers used in sales offices... 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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