Remodeling in the US - Industry Market Research Report

Touched up: Shifting demographics like an increasing trend of urbanization are expected to create more demand for remodeling services

Remodelers renovate the interiors and exteriors of residential buildings. Industry activities include additions, alterations, reconstruction, maintenance and repair work. The Remodeling industry is inextricably tied to consumers' disposable income levels and propensity toward discretionary spending. A decline in consumer confidence amid uncertain economic conditions and rising mortgage rates has caused the industry to contract. Remodeling revenue has been declining at a CAGR of 0.5% to $110.8 billion over the past five years, including a projected skid of 3.4% in 2023 alone, as profit is expected to stabilize at 7.2%.

Operators in this industry remodel and renovate the interiors 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.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.