Press release
Home Remodeling Market Technological Innovation In Industry to Reach $1,317.50 Billion by 2030
Growth Demands:Advancements in computer-based technologies, such as visualization apps, 3D rendering software, and similar tools, have significantly boosted growth in the home remodeling market. These innovations allow homeowners to easily visualize architects' remodeling plans.
Home remodeling serves various purposes, including adding new rooms or levels, making cosmetic upgrades inside and outside buildings, incorporating new features, and improving residents' quality of life. This growth is supported by the wide range of products and options available in the home remodeling market.
The home remodeling market size was valued at $852.10 billion in 2020, and is estimated to reach $1,317.50 billion by 2030, growing at a CAGR of 4.3% from 2021 to 2030.
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Industry News:
Commonly observed types of home remodeling projects are DIY (Do It Yourself) and Contractor. Among these, the project type, the professional segment accounted for the highest market share in 2020, owing to requirement of skilled labor. The market is analyzed with respect to different applications of home remodeling such as windows & doors, kitchen & bathroom, floor & roof, walls and others. The market is mainly driven by rise in remodeling activities of the old buildings. However, fluctuating prices of raw materials used for manufacturing of home remodeling products is a restraining factor that hinders the growth of the market.
In 2020, North America dominated the global home remodeling market, in terms of revenue, followed by Europe and Asia-Pacific. Moreover, the market in Asia-Pacific has grown with high CAGR, owing to increase in disposable income of homeowner, which eventually led to increased spending on home remodeling activities by them.
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Top Players:
Jeld-Wen Holdings Inc., Andersen Corporation, Dow Inc., Lurton Electronics, Kajaria Ceramics Limited, Mohawk Industries, Inc., Seven Group Holdings Limited (Boral Limited), Kohler Co., Pella Corporation, Industrie Cotto Possagno S.p.A
KEY FINDINGS OF THE STUDY
The report provides an extensive analysis of the current and emerging home remodeling market trends and dynamics.
Depending on type, the ride-on mowers dominated the home remodeling market share, in terms of revenue in 2020 and the robotic mower segment is projected to grow at a significant CAGR during the home remodeling market forecast.
By end user, residential segment registered highest revenue in2020.
Asia-Pacific is projected to register highest growth rate in the coming years.
The key players within the home remodeling market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the home remodeling industry.
The report provides an extensive analysis of the current trends and emerging opportunities of the market.
In-depth home remodeling market analysis is conducted by constructing estimations for the key segments between 2021 and 2030.
Read More Related Information:
Home improvement services market - https://www.prnewswire.com/news-releases/home-improvement-services-market-to-garner-585-3-bn-globally-by-2030-at-6-2-cagr-allied-market-research-301334459.html
Home Automation Market - https://www.globenewswire.com/news-release/2022/01/25/2372380/0/en/Global-Home-Automation-Market-Is-Expected-to-Reach-239-89-Billion-by-2030-Says-AMR.html
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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