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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 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
$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 Investment Chapter

The Remodeling industry is very labor-oriented, as it relies on employees to carry out the majority of industry activities. Therefore, the industry requires a low level of capital investment and instead allocates much of its cost structure to labor and subcontractor payments, which combine to account for 54.2% of revenue. Purchases account for about 33.8% of industry revenue, but these costs are largely related to materials, components and supplies used during service requests. Depreciation absorbs only about 1.0% of industry revenue, and capital purchases are largely limited to vehicles and computers used in sales offices. Heavy equipment used for larger renovations, such as room additions, is typically rented or brought by subcontracted machinery operators... 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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