Residential Remodelers Market Share, Trends, Size, Major Players And Forecast To 2033

The Business Research Company recently released a comprehensive report on the Global Residential Remodelers Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The residential remodelers market size has grown steadily in recent years. It will grow from $825.71 billion in 2023 to $845.03 billion in 2024 at a compound annual growth rate (CAGR) of 2.3%. The growth in the historic period can be attributed to economic conditions and home equity, changing lifestyle trends, aging housing stock, real estate market dynamics, homeownership rates..

The residential remodelers market size is expected to see steady growth in the next few years. It will grow to $926.83 billion in 2028 at a compound annual growth rate (CAGR) of 2.3%. The growth in the forecast period can be attributed to aging population and accessibility, sustainable and energy-efficient upgrades, growing technological integration in homes, home office and remote work trends, covid-19 pandemic impact.. Major trends in the forecast period include technology-driven project management, multigenerational living spaces, resilient and disaster-resistant design, energy-efficient upgrades, online presence and marketing..

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Market Drivers and Trends:

The rise in the construction sector is expected to propel the growth of the residential remodelers market going forward. The construction industry is concerned with the construction, alteration, and repair of structures such as houses, industries, highways, bridges, and other infrastructure. Growth in the building industry may have a favorable influence on the residential remodelling market since it leads to an increase in the number of new houses being built, which creates a demand for remodelling services. For instance, in March 2023, according to a recent statistical report published by the United States Census Bureau, a US-based agency of the Federal Statistical System, total construction spending in the United States was $1.54 trillion in November 2020, and it grew to $1.84 trillion in November 2022, reflecting a 16.3% rise. Therefore, the rise in the construction sector is driving the residential remodelers market.

Technological advancements are a key trend gaining popularity in the residential remodeler market. Major companies operating in the residential remodeler market are focused on developing innovative solutions to strengthen their position in the market. For instance, in December 2022, Eyrus Inc., a US-based software business, announced substantial platform enhancements with the launch of Eyrus Evolved, a full, end-to-end solution to assist general contractors make better decisions about progress, risk, and safety. The new technology features an easy-to-use, non-intrusive system that offers full workforce data and analytics in real-time via a Consolidated Workforce Database. Eyrus enables project teams to proactively adapt in dynamic project settings to favorably affect schedule, safety, and cost. The Eyrus platform decreases project administrative overhead by 25% by automating essential operations such as worker on boarding, project time keeping, and compliance reporting by integrating Construction IoT (Internet of Things) technology.

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Major Key Players of the Market:

Andersen Corporation; Dow Inc.; Jeld-Wen Holdings Inc.; Kajaria Ceramics Limited; Kohler Co.; Pella Corporation; Seven Group Holdings Limited; Industrie Cotto Possagno S.p.A; Lutron Electronics Inc.; Mohawk Industries Inc.; Masco Corporation; Ferguson Enterprises Inc.; Case Design/Remodeling Inc.; Trex Company Inc.; Henkel Construction Company; D.R. Horton Inc.; Lennar Corporation; PulteGroup Inc.; Greystar Real Estate Partners LLC; Alliance Residential Company LLC; NVR Inc.; Taylor Morrison Home Corporation; KB Home Inc.; Meritage Homes Corporation; Clayton Properties Group Inc.; Century Communities Inc.; LGI Homes Inc.; Mill Creek Residential Trust LLC; Wood Partners LLC; Trammell Crow Residential; DHI Communities Inc.; Bridge Investment Group; The Related Group; The NRP Group LLC; Continental Properties Company Inc.; Anywhere Remodeling; Power Home Remodeling Group; Dreamstyle Remodeling Inc.; Reborn Cabinets Inc.; Kitchen Magic Inc.

Residential Remodelers Market 2024 Key Insights:

• The residential remodelers market will grow to $926.83 billion in 2028 at a compound annual growth rate (CAGR) of 2.3%.
• Construction Sector Growth Propels Residential Remodelers Market Expansion
• Technological Advancements Drive Innovation In The Residential Remodeler Market
• North America was the largest region in the residential remodelers market in 2023

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