Press release
Construction Sector Surge Propels Growth In The Home Remodeling Market Driver: Leading Transformation in the Home Remodeling Market in 2025
Home Remodeling Market
The growth of the home remodeling market is anticipated to be fueled by the expansion of the construction industry. The construction industry, vital for both building and infrastructure development, covers a broad spectrum of tasks. This includes the construction of residential and commercial spaces, along with infrastructure like highways, bridges, airports, and public transportation systems. The growth of this sector can incite a demand for homes and intensify the competitiveness of the housing market. Consequently, property owners may opt to remodel their current homes rather than purchasing new ones. As the construction industry integrates new technology and materials, home upgrades featuring these advancements may pique the interest of homeowners. To illustrate, in August 2023, the U.S. Census Bureau, which is a government agency based in the US, reported that completed private residential housings stood at 1,406,000 units, which was a 3.7% increase from 1,355,000 units in August 2022. As a result, the ascension of the construction industry is a significant factor propelling the home remodeling market's growth.
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What is the projected compound annual growth rate (CAGR) of the home remodeling market from 2025 to 2034, and what factors influence it?
The size of the home remodeling market has been showing a consistent increase in recent years. An upward shift from $961.83 billion in 2024 to $1004.45 billion in 2025 is projected, at a compound annual growth rate (CAGR) of 4.4%. The growth experienced during the historic period may be due to factors such as the expansion of electronics manufacturing, heightened aerospace applications, the surge in medical device production, the growing trend of micro welding, and the focus on energy efficiency and precision.
The market size for home remodeling is projected to witness considerable growth in the coming years, with an estimated valuation of "$1235.92 billion by 2029 at a compound annual growth rate (CAGR) of 5.3%. The anticipated growth during this forecast period can be associated with the rising prominence of fiber lasers, development in the renewable energy industry, the increasing need for lightweight materials, the trend of miniaturizing medical devices, the acceleration of rapid prototyping, and the rise in small-batch manufacturing. The forecast period is set to experience notable trends like the evolution in laser technology, the fusion of automation and robotics, the advent of hybrid laser welding systems, adjustments and versatility in welding procedures, and the incorporation of artificial intelligence.
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How are the latest trends influencing the growth of the home remodeling market?
There's an emerging trend in the home remodeling market, driven by technological advancements. In order to stay competitive, firms active in this space are embracing these technological innovations. A case in point being Lennox International Inc., an American company that provides climate control solutions. As part of its smart home solution, the company introduced the Lennox S40 Smart Thermostat, the Lennox Smart Air Quality Monitor, and the Lennox Smart Room Sensor in January 2023. The Lennox S40 Smart Thermostat is part of a unique, fully integrated system that works intelligently and seamlessly to provide consistently clean, healthy air. It boasts innovative features like Schedule IQ Technology, Smart Away geo-fencing capabilities, and a one-touch Away Mode to allow the connected equipment and thermostat to operate optimally - delivering comfort when the home is occupied and energy savings when it's not. The S40 Smart Thermostat also monitors sensors across the house and offers a smooth user experience, enhanced further by a range of automation capabilities.
What are the major segments of the home remodeling market and their role in driving growth?
The home remodeling market covered in this report is segmented -
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
Subsegments:
1) By Do-It-Yourself (DIY): DIY Home Improvement Projects, DIY Home Repair
2) By Do-It-For-Me (DIFM): Professional Remodeling Services, Home Renovation Contractors
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Which regions are key players in the growth of the home remodeling market?
North America was the largest region in the home remodeling market in 2024. The regions covered in the home remodeling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the key firms paving the way for growth in the home remodeling market?
Major companies operating in the home remodeling market include 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., CertainTeed Corporation, Cornerstone Building Brands, CRH plc, Daltile Corporation, Delta Faucet Company, D.R. Horton Inc., Johns Manville Corporation, Ferguson Enterprises LLC, GAF Materials Corporation, Georgia-Pacific LLC, James Hardie Industries plc, Lennar Corporation, Lowe's Companies Inc., Owens Corning, Ply Gem Holdings Inc., Pool Corporation, Power Home Remodeling Group
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What Is Covered In The Home Remodeling Global Market Report?
• Market Size Forecast: Examine the home remodeling market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the home remodeling market for a structured understanding.
• Key Players Overview: Analyze major players in the home remodeling market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the home remodeling market.
• Segment Contributions: Evaluate how different segments drive overall growth in the home remodeling market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the home remodeling market.
• Industry Challenges: Identify potential risks and obstacles affecting the home remodeling market.
• Competitive Landscape: Review strategic developments in the home remodeling market, including expansions, agreements, and new product launches.
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