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Soaring Growth in the Global Home Remodeling Market: A Detailed Analysis on Market Size, Drivers and Emerging Trends
Home Remodeling Market Share
Robust Expansion in Home Remodeling Market - Insights, Key Drivers, and Future Predictions
What Is The Projected Market Size Of The Global Home Remodeling Market And Its Growth Rate?
The global home remodeling market has experienced steady growth throughout recent years and is expected to further expand.
• 2024 Market Size: $961.83 billion
• 2025 Market Size: $1004.45 billion (4.4% CAGR)
• 2029 Market Size: $1235.92 billion (5.3% CAGR)
This growth is largely driven by various factors such as the growth of electronics manufacturing, increased aerospace applications, rise in medical device manufacturing, and advancements in laser technology amongst others.
What Is Driving The Growth In The Home Remodeling Market?
The rapid growth of the construction sector plays an integral role in driving the home remodeling market's expansion. This industry encapsulates a myriad of activities related to building and infrastructure development, promoting housing demand and competitiveness. Consequently, homeowners are more likely to renovate their existing homes or upgrade with the introduction of new technology and materials in the construction sector. For instance, the U.S. Census Bureau reported a 3.7% increase in privately-owned residential housing completions from 1,355,000 housing units in August 2022 to 1,406,000 in August 2023. Thus, the construction sector's growth significantly contributes to the home remodeling market's thriving presence.
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Who Are the Key Players Driving Home Remodeling Market Growth?
• Andersen Corporation
• JELD-WEN Holdings Inc.
• Kohler Co.
• Pella Corporation
• The Home Depot Inc.
• Dow Inc.
• Kajaria Ceramics Limited
• Lutron Electronics Company
• Mohawk Industries Inc.
• Masco Corporation
• Industry Cotto Possagno S.p.A
• Seven Group Holdings Limited (Boral Limited)
• Harvey Industries Inc.
• Neil Kelly Company
• Case Design, ABC Supply Co.
• Atlas Roofing Corporation
• AZEK Building Products Inc
• Beacon Roofing Supply Inc.
• Builders FirstSource Inc.
What Are The Key Trends In The Home Remodeling Market?
Key trends gaining traction in the home remodeling market comprise:
• Advancements in laser technology
• Integration of automation and robotics
• Hybrid laser welding systems
• Customization and flexibility in welding processes
• Integration of artificial intelligence.
What Are The Segments Of The Global Home Remodeling Market?
1) By Type: Do-It-Yourself (DIY), Do-It-For-Me (DIFM)
2) By Distribution Channel: Online, Offline
3) By Application: Windows And Doors, Kitchen And Bathroom, Floor And Roof, Walls, Other Applications
4) By End-Use: Residential, Commercial
Which Region Leads The Home Remodeling Market?
North America dominates the home remodeling market, taking the lead in 2024. Alongside North America, the report covers regions including Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa in the home remodeling market study.
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What Is Covered In The Home Remodeling Market Global Market Report?
This report covers the following sections:
- Market Size Analysis: Analyze the Home Remodeling Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Home Remodeling Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Home Remodeling Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Home Remodeling Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. With 1,500,000 datasets, the optimistic contribution of in-depth secondary research, unique insights from industry leaders provides the reliable information you need to stay ahead.
Our flagship product, the Global Market Model, delivers comprehensive and updated forecasts to support informed decision-making.
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