Press release
Home Remodeling Market Share, Analysis & Growth Forecast, 2020–2027
Home remodeling is the process of improving, making additions, and renovating one’s home. Home remodeling includes all the projects related to customization of the home interior like plumbing, electrical, and furniture, and renovating properties like garages, gardens, and lawns. The major objectives of home remodeling include safety, additional beautification, repairs, comfort upgrades, and home additions.Get a Sample Report @ https://www.alliedmarketresearch.com/request-sample/8233
Home improvement commonly refers to the building activities that customize the home structure but it also includes customization of gardens, outdoor structures like garages and gazebos, and lawns. Home remodeling holds major applications for remodeling of kitchen additions, windows and doors, bathroom additions, roofing, HVAC, and more.
COVID-19 Scenario analysis:
COVID-19 pandemic has shut-down the production of various products in the home remodeling industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of home remodeling market significantly from last few months, as is likely to continue during 2020.
COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year.
The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
Drivers, restraints, and opportunities
Surging demand for repairing and renovation of bathrooms and kitchens for residential buildings is a key factor that is expected to drive the growth of the home remodeling market in the upcoming years. Besides, escalating home prices and leveraging home improvement projects with loans by residents can propel the growth of the home remodeling market.
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Moreover, new government incentives for home remodeling can significantly contribute to the growth of the market. However, huge investments required for remodeling activities is a restraining factor that can hinder the market growth. On the contrary, the growing popularity of online home services provided by renowned companies like Amazon, Zillow, and others are anticipated to provide lucrative growth opportunities for the home remodeling market during the forecast period.
Key Segments
By Project Type
Do-it-yourself (DIY)
Do-it-for-me (DIFM)
Do-it-with-me (DIWM)
By Application
Windows and doors
Kitchen
Bathroom
Floors
Roofs
Others
Distribution channel
Online
Offline
By Region
North America
Europe
Asia-Pacific
LAMEA
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Key Players
Major players analyzed include ABC Supply, Andersen Corporation, Builders FirstSource, Dow Building Solutions, Ferguson Enterprises, Hanley Wood, LLC, The Home Depot, JELD-WEN, Kohler Co., Lutron Electronics, Masco Corporation
Contact:
David Correa
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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