Product Code: GVR-4-68040-453-0
Residential Remodeling Market Trends:
The global residential remodeling market size was estimated at USD 2.70 trillion in 2023 and is projected to grow at a CAGR of 4.6% from 2024 to 2030. The market is driven by several key factors, including the aging housing stock and the growing trend of homeownership. Many homes in the U.S. are over 30 years old, necessitating updates and repairs to maintain their functionality and aesthetic appeal. This aging housing stock prompts homeowners to invest in remodeling projects that improve energy efficiency, increase home value, and enhance living conditions thus propelling the industry demand.
Additionally, the rise in homeownership rates, especially among millennials, has led to a surge in demand for renovations and remodeling, as new homeowners are eager to personalize their spaces and adapt them to modern living standards. The rising trend toward remote work has also significantly boosted the demand for home office setups and other home modifications to accommodate new lifestyle needs. As people spend more time at home, they are more inclined to invest in projects that improve comfort, functionality, and the overall quality of their living spaces, thus propelling the growth of the residential remodeling market.
The residential remodeling market presents numerous opportunities, particularly in the areas of sustainable and smart home renovations. Consumer interest is growing in eco-friendly remodeling solutions, such as energy-efficient windows, solar panels, and sustainable building materials. This trend is driven by increasing environmental awareness and government incentives aimed at reducing carbon footprints. Hence homeowners are increasingly looking to reduce their energy bills and improve their homes' environmental performance, creating significant opportunities for companies offering green remodeling products and services.
However, rising material costs and labor shortages are expected to restrain the market growth. The cost of construction materials, including lumber, steel, and concrete, has seen substantially increases in recent years due to supply chain disruptions, tariffs, and high demand. These rising costs can significantly impact project budgets, leading some homeowners to delay or scale back their remodeling plans. Additionally, labor shortages in the construction and remodeling sectors pose a major challenge, as the demand for skilled workers often exceeds supply. This can result in longer project timelines and increased labor costs, further straining homeowner budgets.
The competitive landscape of the residential remodeling market is highly fragmented, with a mix of large national players and numerous small, specialized contractors. Major companies in the market, such as Dow Inc., Pella Corporation, JELD-WEN, IndustrieCottoPossagno S.p.A, Andersen Corporation, Seven Group Holdings Limited, and Kohler Co., leverage their extensive distribution networks, strong brand recognition, and wide range of products and services to capture a significant share of the market. Furthermore, these companies often offer bundled services, such as design consultations and installation, which provide added convenience to homeowners and give them a competitive edge.
Global Residential Remodeling Market Report Segmentation
This report forecasts revenue growth at regional & country levels and provides an analysis of the industry trends in each of the segments from 2018 to 2030. For this study, Grand View Research has segmented the residential remodeling market based on application, service type, and region:
- Application Outlook (Revenue, USD Billion, 2018 - 2030)
- Flooring
- Walls
- Ceilings
- Porch, Garden And Garage
- System & Equipment
- Disaster Repair
- Other Applications
- Service Type Outlook (Revenue, USD Billion, 2018 - 2030)
- Full-remodeling Service Providers
- Specialized Service Providers
- Regional Outlook (Revenue, USD Billion, 2018 - 2030)
- North America
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Asia Pacific
- China
- Japan
- India
- South Korea
- Central & South America
- Middle East & Africa
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Scope & Assumption
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook, 2023 (USD Billion)
- 2.2. Segmental Outlook
- 2.3. Competitive Insights
Chapter 3. Residential Remodeling Market Variables, Trends & Scope
- 3.1. Market Ancillary/Lineage Outlook
- 3.2. Residential Remodeling Market - Value Chain Analysis
- 3.2.1. Sales Channel Analysis
- 3.3. Technology Overview
- 3.4. Regulatory Framework
- 3.5. Residential Remodeling Market - Market Dynamics
- 3.5.1. Market Driver Analysis
- 3.5.2. Market Restraint Analysis
- 3.5.3. Market Opportunity Analysis
- 3.5.4. Market Challenge Analysis
- 3.6. Residential Remodeling Market - Business Environment Analysis
- 3.6.1. PESTLE Analysis by SWOT
- 3.6.2. Porter's Five Forces Analysis
- 3.7. Market Disruption Analysis
Chapter 4. Residential Remodeling Market: Application Estimates & Trend Analysis
- 4.1. Key Takeaways
- 4.2. Application Movement Analysis & Market Share, 2023 & 2030
- 4.3. Residential Remodeling Market By Application, 2018 - 2030 (USD Billion)
- 4.4. Flooring
- 4.4.1. Residential Remodeling Market Estimates & Forecasts, for Flooring, 2018 - 2030 (USD Billion)
- 4.5. Walls
- 4.5.1. Residential Remodeling Market Estimates & Forecasts, for Walls, 2018 - 2030 (USD Billion)
- 4.6. Ceilings
- 4.6.1. Residential Remodeling Market Estimates & Forecasts, for Ceilings, 2018 - 2030 (USD Billion)
- 4.7. Porch, Garden and Garage
- 4.7.1. Residential Remodeling Market Estimates & Forecasts, for Porch, Garden and Garage, 2018 - 2030 (USD Billion)
- 4.8. System & Equipment
- 4.8.1. Residential Remodeling Market Estimates & Forecasts, for System & Equipment, 2018 - 2030 (USD Billion)
- 4.9. Disaster Repair
- 4.9.1. Residential Remodeling Market Estimates & Forecasts, for Disaster Repair, 2018 - 2030 (USD Billion)
- 4.10. Other Application
- 4.10.1. Residential Remodeling Market Estimates & Forecasts, for Other Application, 2018 - 2030 (USD Billion)
Chapter 5. Residential Remodeling Market: Service Type Estimates & Trend Analysis
- 5.1. Key Takeaways
- 5.2. Service Type Movement Analysis & Market Share, 2023 & 2030
- 5.3. Residential Remodeling Market By Service Type, 2018 - 2030 (USD Billion)
- 5.4. Full-Remodeling Service Providers
- 5.4.1. Residential Remodeling Market Estimates & Forecasts by Full-Remodeling Service Providers, 2018 - 2030 (USD Billion)
- 5.5. Specialized Service Providers
- 5.5.1. Residential Remodeling Market Estimates & Forecasts by Specialized Service Providers, 2018 - 2030 (USD Billion)
Chapter 6. Residential Remodeling Market: Regional Estimates & Trend Analysis
- 6.1. Key Takeaways
- 6.2. Regional Market Share Analysis, 2023 & 2030
- 6.3. Market Estimates & Forecasts by Region, 2018 - 2030 (USD Billion)
- 6.4. North America
- 6.4.1. North America Residential Remodeling Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.4.2. North America Residential Remodeling Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.4.3. North America Residential Remodeling Market Estimates & Forecasts, by Service Type, 2018 - 2030 (USD Billion)
- 6.4.4. U.S.
- 6.4.4.1. U.S. Residential Remodeling Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.4.4.2. U.S. Residential Remodeling Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.4.4.3. U.S. Residential Remodeling Market Estimates & Forecasts, by Service Type, 2018 - 2030 (USD Billion)
- 6.4.5. Canada
- 6.4.5.1. Canada Residential Remodeling Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.4.5.2. Canada Residential Remodeling Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.4.5.3. Canada Residential Remodeling Market Estimates & Forecasts, by Service Type, 2018 - 2030 (USD Billion)
- 6.4.6. Mexico
- 6.4.6.1. Mexico Residential Remodeling Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.4.6.2. Mexico Residential Remodeling Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.4.6.3. Mexico Residential Remodeling Market Estimates & Forecasts, by Service Type, 2018 - 2030 (USD Billion)
- 6.5. Europe
- 6.5.1. Europe Residential Remodeling Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.5.2. Europe Residential Remodeling Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.5.3. Europe Residential Remodeling Market Estimates & Forecasts, by Service Type, 2018 - 2030 (USD Billion)
- 6.5.4. Germany
- 6.5.4.1. Germany Residential Remodeling Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.5.4.2. Germany Residential Remodeling Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.5.4.3. Germany Residential Remodeling Market Estimates & Forecasts, by Service Type, 2018 - 2030 (USD Billion)
- 6.5.5. UK
- 6.5.5.1. UK Residential Remodeling Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.5.5.2. UK Residential Remodeling Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.5.5.3. UK Residential Remodeling Market Estimates & Forecasts, by Service Type, 2018 - 2030 (USD Billion)
- 6.5.6. France
- 6.5.6.1. France Residential Remodeling Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.5.6.2. France Residential Remodeling Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.5.6.3. France Residential Remodeling Market Estimates & Forecasts, by Service Type, 2018 - 2030 (USD Billion)
- 6.5.7. Spain
- 6.5.7.1. Spain Residential Remodeling Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.5.7.2. Spain Residential Remodeling Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.5.7.3. Spain Residential Remodeling Market Estimates & Forecasts, by Service Type, 2018 - 2030 (USD Billion)
- 6.5.8. Italy
- 6.5.8.1. Italy Residential Remodeling Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.5.8.2. Italy Residential Remodeling Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.5.8.3. Italy Residential Remodeling Market Estimates & Forecasts, by Service Type, 2018 - 2030 (USD Billion)
- 6.6. Asia Pacific
- 6.6.1. Asia Pacific Residential Remodeling Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.6.2. Asia Pacific Residential Remodeling Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.6.3. Asia Pacific Residential Remodeling Market Estimates & Forecasts, by Service Type, 2018 - 2030 (USD Billion)
- 6.6.4. China
- 6.6.4.1. China Residential Remodeling Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.6.4.2. China Residential Remodeling Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.6.4.3. China Residential Remodeling Market Estimates & Forecasts, by Service Type, 2018 - 2030 (USD Billion)
- 6.6.5. India
- 6.6.5.1. India Residential Remodeling Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.6.5.2. India Residential Remodeling Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.6.5.3. India Residential Remodeling Market Estimates & Forecasts, by Service Type, 2018 - 2030 (USD Billion)
- 6.6.6. Japan
- 6.6.6.1. Japan Residential Remodeling Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.6.6.2. Japan Residential Remodeling Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.6.6.3. Japan Residential Remodeling Market Estimates & Forecasts, by Service Type, 2018 - 2030 (USD Billion)
- 6.6.7. South Korea
- 6.6.7.1. South Korea Residential Remodeling Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.6.7.2. South Korea Residential Remodeling Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.6.7.3. South Korea Residential Remodeling Market Estimates & Forecasts, by Service Type, 2018 - 2030 (USD Billion)
- 6.7. Central & South America
- 6.7.1. Central & South America Residential Remodeling Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.7.2. Central & South America Residential Remodeling Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.7.3. Central & South America Residential Remodeling Market Estimates & Forecasts, by Service Type, 2018 - 2030 (USD Billion)
- 6.7.4. Brazil
- 6.7.4.1. Brazil Residential Remodeling Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.7.4.2. Brazil Residential Remodeling Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.7.4.3. Brazil Residential Remodeling Market Estimates & Forecasts, by Service Type, 2018 - 2030 (USD Billion)
- 6.8. Middle East & Africa
- 6.8.1. Middle East & Africa Residential Remodeling Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.8.2. Middle East & Africa Residential Remodeling Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.8.3. Middle East & Africa Residential Remodeling Market Estimates & Forecasts, by Service Type, 2018 - 2030 (USD Billion)
- 6.8.4. Saudi Arabia
- 6.8.4.1. Saudi Arabia Residential Remodeling Market Estimates & Forecasts, 2018 - 2030 (USD Billion)
- 6.8.4.2. Saudi Arabia Residential Remodeling Market Estimates & Forecasts, by Application, 2018 - 2030 (USD Billion)
- 6.8.4.3. Saudi Arabia Residential Remodeling Market Estimates & Forecasts, by Service Type, 2018 - 2030 (USD Billion)
Chapter 7. Supplier Intelligence
- 7.1. Kraljic Matrix
- 7.2. Engagement Model
- 7.3. Negotiation Strategies
- 7.4. Sourcing Best Practices
- 7.5. Vendor Selection Criteria
Chapter 8. Competitive Analysis
- 8.1. Recent Developments & Impact Analysis, By Key Market Participants
- 8.2. Company Categorization
- 8.3. Company Market Positioning
- 8.4. Company Heat Map Analysis
- 8.5. Company Listings
- 8.5.1. Dow Inc.
- 8.5.1.1. Company Overview
- 8.5.1.2. Financial Performance
- 8.5.1.3. Product Benchmarking
- 8.5.1.4. Strategic Initiatives
- 8.5.2. Pella Corporation
- 8.5.2.1. Company Overview
- 8.5.2.2. Financial Performance
- 8.5.2.3. Product Benchmarking
- 8.5.2.4. Strategic Initiatives
- 8.5.3. JELD-WEN
- 8.5.3.1. Company Overview
- 8.5.3.2. Financial Performance
- 8.5.3.3. Product Benchmarking
- 8.5.3.4. Strategic Initiatives
- 8.5.4. IndustrieCottoPossagno S.p.A
- 8.5.4.1. Company Overview
- 8.5.4.2. Financial Performance
- 8.5.4.3. Product Benchmarking
- 8.5.4.4. Strategic Initiatives
- 8.5.5. Andersen Corporation
- 8.5.5.1. Company Overview
- 8.5.5.2. Financial Performance
- 8.5.5.3. Product Benchmarking
- 8.5.5.4. Strategic Initiatives
- 8.5.6. Seven Group Holdings Limited
- 8.5.6.1. Company Overview
- 8.5.6.2. Financial Performance
- 8.5.6.3. Product Benchmarking
- 8.5.6.4. Strategic Initiatives
- 8.5.7. Kohler Co.
- 8.5.7.1. Company Overview
- 8.5.7.2. Financial Performance
- 8.5.7.3. Product Benchmarking
- 8.5.7.4. Strategic Initiatives
- 8.5.8. Trex Company
- 8.5.8.1. Company Overview
- 8.5.8.2. Financial Performance
- 8.5.8.3. Product Benchmarking
- 8.5.8.4. Strategic Initiatives
- 8.5.9. Lutron Electronics Co. Inc.
- 8.5.9.1. Company Overview
- 8.5.9.2. Financial Performance
- 8.5.9.3. Product Benchmarking
- 8.5.9.4. Strategic Initiatives
- 8.5.10. Boise Cascade company
- 8.5.10.1. Company Overview
- 8.5.10.2. Financial Performance
- 8.5.10.3. Product Benchmarking
- 8.5.10.4. Strategic Initiatives