Analysis of Remodeling market applications and company’s active in the industry

North America Remodeling Market revenue was registered over 800 billion in 2017. Design innovations along with large disposable incomes & highest consumer spending are primary drivers for the expanding services demand in the region. Extreme climatic variations accompanied by frequent disasters support the market development in the region. Increasing necessity to improve the employee productivity and reduce energy expenses will propel the services adoption in the commercial segment.

Capitalizing on the potential of digitalization, the e-commerce platforms are expected to offer unique opportunities while allowing the remodeling market companies to stay competitive. Amazon.com for example, joined a home-services & remodeling platform in 2015 and has expanded it to more than 15 U.S. cities. The instance goes on to validate that surely there is great deal of focus on online platforms within the remodeling market. All in all, driven by the increasing focus to enhance the overall consumer experience, remodeling market is expected to take a deeper dive in terms of revenue, surpassing USD 5 trillion by 2024.

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Soaring land & construction prices have furthermore resulted into exponentially higher real estate costs, which has in turn impacted remodeling market demand. On the grounds of these changing industry trends, reports claim that the global remodeling market from the residential sector was pegged at USD 2 trillion in 2017 and is estimated to continue its robust growth in the years ahead. Besides the residential sector, remodeling industry size from the commercial sector is also likely to be benefited from the corporate and industrial space renovations and is estimated to surpass USD 2.2 trillion by 2024.

The growing trend of providing remodeling services through online platforms has appreciably brought the construction and remodeling market into e-commerce. Right from designing and drawing up construction plans to providing 3rd party remodeling labors, online platforms are emerging as the new lucrative investment grounds where companies are massively advertising and distributing remodeling materials as well as related services to consumers. The benefits of cost, products, contractors, and services have significantly added to the growing popularity of this platform in the global market.       

Browse key industry insights spread across 250 pages with 127 market data tables & 8 figures & charts from the report, “Remodeling Market Size By End-Use (Residential [Interior Addition & Alterations {Kitchen, Bath, Other Room}, Exterior Addition & Alterations {Porch, Garden, Garage}, Others {System & Equipment, Disaster Repair, Property Improvement}], Commercial [Office Space Renovation, Retail Space Renovation, Hotel Remodeling, Restaurant Renovation & Remodeling, Snow Removal]) Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Poland, China, India, Japan, South Korea, Australia, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa, Turkey), Growth Potential, Price Trend, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:

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The key industry players in the global remodeling industry share include GAF Materials Corporation, JELD-WEN, Andersen Corporation, ABC Supply, Builders First Source, the Home Depot, Dow Building Solutions, Hanley Wood LLC, Ferguson Enterprises, and Fortune Brands Home & Security. Other prominent players in the industry are Lutron Electronics, Kohler Co., Masco Corporation, Move Inc., USG Corporation, National Gypsum Company, Oldcastle Building Products, Owens Corning, Pella Corporation, Ply Gem Industries Inc., ProBuild Inc., The Sherwin-Williams Company, and Mergers & acquisitions are among the key strategies adopted by the service providers to expand their product portfolio and gain market share. For instance, Norcraft companies was acquired by Fortune Brands Home and Security to expand their product portfolio in the residential segment.

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