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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 2015

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

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
$66bn
Annual Growth 10-15
7.7%
Annual Growth 15-20
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Profit
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Employment
1,012,921
Businesses
96,408
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 2020, 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 SWOT Analysis Chapter

IBISWorld estimates that the Remodeling industry is in the mature phase of its life cycle due to the industry's services being fully accepted by the market and tied to US construction markets. During the 10 years to 2020, industry value added (IVA), which measures the industry's contribution to the economy, is expected to rise at an average annual rate of about 5.3%, while US GDP is forecast to increase an average of 2.5% annually over this same period. Rapid IVA growth has been accomplished by the strong rebound of US construction markets, which has allowed this industry to outpace US GDP growth despite being a mature industry.

After the housing bubble burst, property values plummeted and unemployment rose, which caused demand for remodeling activities to collapse... 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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