Revenue renovation: A booming construction sector in the state will support industry growth

Over the five years to 2017, the Remodeling industry in Illinois has grown quickly as several factors have prompted homeowners and real estate companies to increase spending on home improvements. Fast growth in residential construction activity has been the main cause of increased revenue in the industry. With double-digit growth in the value of residential construction and the number of housing starts in Illinois over the past five years, the potential number of clients for remodeling services increased quickly, boosting demand for industry services. Over the five years to 2022, the industry is expected to continue to grow as per capita disposable income rises in Illinois, while the construction sector is expected to continue to underpin growth...purchase to read more.

Industry Statistics & Market Size
Revenue
$4bn
Annual Growth 12-17
7.7%
Forecast Growth 17-22
Profit
Employment
14,050
Businesses
6,121

Industry Threats & Opportunities

  • Fast growth in residential construction activity has been the main cause of increased revenue in the industry
  • When economic conditions are good, industry demand and revenue generally trend upward
  • Residential construction activity in the state is forecast to continue growing at a fast pace
  • Additional Insights for the Remodeling in Illinois Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Remodeling in Illinois Industry are

  • Having a high prior success rate (including completed prior contracts)
  • Access to multiskilled and flexible workforce
  • Effective cost controls
  • IBISWorld analysts also discuss how external factors such as Value of Residential Construction in Illinois and Housing starts in Illinois in the Remodeling in Illinois industry impact industry performance..

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    What's in this report

    What is the Remodeling in Illinois Industry?

    Operators in this industry remodel and renovate the interior and exteriors 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 companies and remodeling project construction management companies. This industry does not include commercial remodeling.

    Industry Products
  • Room additions & other interior alterations
  • Systems & equipment
  • Kitchen remodeling
  • Bathroom remodeling
  • Disaster repairs
  • Exterior additions
  • Industry Activities
  • Residential additions, alterations and renovations
  • Construction management for residential remodeling
  • Fire and flood restoration
  • Home improvement
  • Porch construction
  • Sunroom additions
  • Kitchen and bathroom upgrades
  • Other remodeling projects
  • Similar Industries
  • Home Builders
  • Apartment & Condominium Construction
  • Industrial Building Construction
  • Drywall & Insulation Installers
  • Roofing Contractors
  • Residential Building Construction in California
  • Home Builders in Illinois
  • Apartment & Condominium Construction in Illinois
  • Home Builders in Texas
  • Home Builders in Florida
  • Apartment & Condominium Construction in Florida
  • Remodeling in Florida
  • Home Builders in Massachusetts
  • Apartment & Condominium Construction in Massachusetts
  • Remodeling in Massachusetts
  • Home Builders in Ohio
  • Remodeling in Ohio
  • Apartment & Condominium Construction in Ohio
  • Home Builders in Pennsylvania
  • Apartment & Condominium Construction in Pennsylvania
  • Remodeling in Pennsylvania
  • Home Builders in New Jersey
  • Apartment & Condominium Construction in New Jersey
  • Remodeling in New Jersey
  • Home Builders in Georgia
  • Apartment & Condominium Construction in Georgia
  • Remodeling in Georgia
  • Home Builders in Michigan
  • Apartment & Condominium Construction in Michigan
  • Remodeling in Michigan
  • Home Builders in Wisconsin
  • Apartment & Condominium Construction in Wisconsin
  • Remodeling in Wisconsin
  • Home Builders in Washington
  • Apartment & Condominium Construction in Washington
  • Remodeling in Washington
  • Home Builders in Virginia
  • Apartment & Condominium Construction in Virginia
  • Remodeling in Virginia
  • Home Builders in Tennessee
  • Apartment & Condominium Construction in Tennessee
  • Remodeling in Tennessee
  • Home Builders in Missouri
  • Apartment & Condominium Construction in Missouri
  • Remodeling in Missouri
  • Home Builders in North Carolina
  • Apartment & Condominium Construction in North Carolina
  • Remodeling in North Carolina
  • Home Builders in Minnesota
  • Apartment & Condominium Construction in Minnesota
  • Remodeling in Minnesota
  • Home Builders in Maryland
  • Apartment & Condominium Construction in Maryland
  • Remodeling in Maryland
  • Home Builders in Colorado
  • Apartment & Condominium Construction in Colorado
  • Remodeling in Colorado
  • Apartment & Condominium Construction in New York
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Value of Residential Construction in Illinois
  • Housing starts in Illinois
  • Corporate profit
  • Per Capita Disposable Income in Illinois

  • Current Performance
  • Residential construction activity
  • Illinois economy
  • Industry structure
  • Chart: Revenue Growth

  • Industry Outlook
  • Continued growth in housing and residential construction
  • Illinois’ future economy
  • Industry structure
  • Table: Remodeling in Illinois Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Remodeling in Illinois Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Apartment Rental
  • Educational Services
  • Public Administration
  • Consumers

  • Key Selling Industries
  • Cement Manufacturing
  • Clay Brick & Product Manufacturing
  • Construction
  • Lumber Wholesaling
  • Ready-Mix Concrete Manufacturing
  • Roofing, Siding & Insulation Wholesaling
  • Sawmills & Wood Production
  • Stone, Concrete & Clay Wholesaling

  • Products & Services
  • Other
  • Exterior additions
  • Systems & equipment
  • Room additions & other interior alterations
  • Kitchen remodeling
  • Bathroom remodeling
  • Disaster repairs
  • Chart: Remodeling in Illinois Industry Products and Services Segmentation

  • Major Markets
  • Detached single-family houses
  • Apartment buildings
  • Attached single-family houses
  • Other
  • Chart: Major Market Segmentation for the Remodeling in Illinois Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Remodeling in Illinois

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Remodeling in Illinois Industry

  • Clayco Inc., Pepper Construction Group LLC, Power Construction Company LLC, Walsh Group,
  • Table: Clayco Inc. - financial performance
  • Table: Pepper Construction Group LLC - financial performance
  • Table: Power Construction Company LLC - financial performance
  • Table: Walsh Group - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Remodeling in Illinois Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Remodeling in Illinois Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Value of Residential Construction in Illinois (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    General Contractor
  • An individual or company that manages the construction of a building or structure for a property owner or developer. A GC may retain its own labor force or use subcontractors for projects.
  • Green Remodeling
  • Remodeling which increases a home's energy efficiency as well as reduces a building's impact on human health and the environment, through better design, construction, operation and maintenance.
  • Gypsum Wallboard
  • Also known as drywall, it is a panel used in interior construction to form a wall or ceiling.
  • Weatherization Assistance Program
  • Federal program to enable low-income families to reduce energy expenses by funding remodeling or repair projects to improve a home's energy efficiency
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Remodeling in Illinois Industry Research Report offers insight into the market at the national level. Our analysis highlights macro trends in the overall sector and the micro trends faced by companies that do business in the Remodeling in Illinois industry. Our five-year outlook forecasts explain how the market is set to change and the product segments that will drive growth.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Remodeling in Illinois:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Remodeling in Illinois market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Remodeling in Illinois, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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