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Surge In Home Improvement Shows Fueling The Growth Of The Market Due To Increasing Homeowner Interest In DIY Renovations: Strengthening the Growth Trajectory of the Kitchen Remodel Services Market
Kitchen Remodel Services
What Is the Expected CAGR for the Kitchen Remodel Services Market Through 2025?
The market size for kitchen makeover services has seen substantial growth in recent years. It is projected to expand from $11.07 billion in 2024 to $11.86 billion in 2025, resulting in a compound annual growth rate (CAGR) of 7.2%. This increase in the historical timeframe is a consequence of several factors: Growing trends in home refurbishment, an increase in discretionary income, a surge in property values, heightened demand for contemporary kitchens, along with the escalating impact of home improvement-related media.
What's the Projected Size of the Global Kitchen Remodel Services Market by 2029?
It is anticipated that the kitchen remodel services market will maintain robust expansion in the coming years, ballooning to $15.73 billion by 2029 at a compound annual growth rate (CAGR) of 7.3%. The upswing over the projection period can be ascribed to a growing emphasis on cutting-edge kitchen technologies, increased demand for green and sustainable materials, surging urbanization and shrinking living spaces, rising preference for modular kitchen aesthetics, and a need for upgrades in aged housing inventories. Noteworthy trends expected through the forecast duration encompass advancements in eco-friendly kitchen appliances, prolific use of 3D visualization and design software, establishing multifunctional kitchen spaces, cultivating innovative solutions in space-saving storage and progressive incorporation of IoT-backed kitchen systems.
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Top Growth Drivers in the Kitchen Remodel Services Industry: What's Accelerating the Market?
The kitchen remodel services market is projected to expand due to the growing popularity of home improvement shows. These shows, either broadcasted on TV or streamed online, concentrate on the makeover, redecoration, and upgrading of houses. The appeal of these programs is fuelled by homeowners' growing interest in do-it-yourself renovations, as these shows offer economical solutions and allow viewers to customize their spaces. Kitchen makeover services augment the appeal of home improvement shows by exhibiting impressive transformations that accentuate modern design ideas, enhance functionality, and add to a home's value, catching viewers' attention with dramatic before-and-after outcomes. For example, Fittra Ltd., a construction company in the UK, reported that in 2024, 88% of UK homeowners had carried out renovations in 2022. Also, a retail company named Hillarys in the UK noted that UK's average individual home improvement spending escalated to £17,000 ($22,671) in 2023, marking a rise of 4.6% from the preceding year. Hence, the escalating popularity of home improvement shows is spurring growth in the kitchen remodeling services market.
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What Long-Term Trends Will Define the Future of the Kitchen Remodel Services Market?
Prominent firms in the kitchen remodel services market are prioritizing the delivery of superior remodeling services to gain a competitive advantage. These top-tier services encompass expert renovation efforts marked by extraordinary skill, long-lasting materials, and fine attention to detail. For example, River City Construction Inc., a construction company based in the United States, introduced its home remodeling services in Boston in September 2024, bringing a novel and creative touch to house renovation in the city. The firm's specialty lies in kitchen remodeling, offering extensive solutions to turn kitchens into contemporary, utilitarian, and trendy areas. Their proficiency includes tailor-made kitchen designs, upgrading of appliances, pocket-friendly makeovers, and luxury renovations, all precisely customized to satisfy the distinctive requirements and choices of homeowners in Boston and neighboring regions.
What Are the Main Segments in the Kitchen Remodel Services Market?
The kitchen remodel services market covered in this report is segmented -
1) By Type: Wall, Floor, Cabinet
2) By Service Type: Design, Installation, Renovation, Custom Cabinetry, Countertops, Flooring, Plumbing, Electrical, Other Types
3) By Application: Residential, Commercial
4) By Distribution Channel: Online, Offline
Subsegments:
1) By Wall: Paint, Wallpaper, Tile Backsplash, Wall Panels, Open Shelving Installations
2) By Floor: Hardwood, Laminate, Vinyl, Tile, Stone
3) By Cabinet: Stock Cabinets, Semi-Custom Cabinets, Custom Cabinets, Cabinet Refacing, Cabinet Hardware Replacement
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Which Top Companies are Driving Growth in the Kitchen Remodel Services Market?
Major companies operating in the kitchen remodel services market are The Home Depot Inc., Lowe's Companies Inc., IKEA Group, HomeAdvisor Inc., CliqStudios Inc., Modsy Inc., enovo Home Partners LLC, Re-Bath LLC, Cabinets To Go Inc., Neil Kelly Company Inc., Plain & Fancy Custom Cabinetry Inc., DreamMaker Bath & Kitchen, Kitchen Saver Inc., Kitchen Magic Inc., Schuler Cabinetry Inc., Alure Home Improvements Inc., Case Design/Remodeling Inc., Kitchen Tune-Up LLC, Classic Home Improvements Inc., Harth Builders Inc.
Which Regions Will Dominate the Kitchen Remodel Services Market Through 2029?
North America was the largest region in the kitchen remodel services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the kitchen remodel services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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