The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The home improvement services market size has grown strongly in recent years. It will grow from $345.33 billion in 2023 to $364.01 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%.  The growth in the historic period can be attributed to shifts in homeowner lifestyles, government incentives and programs, weather-related events, real estate market influences, consumer preferences for energy efficiency. The home improvement services market size is expected to see strong growth in the next few years. It will grow to $450.42 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%.  The growth in the forecast period can be attributed to resilience and disaster-proofing, adaptable living spaces, urbanization and housing trends, health and wellness focus, DIY and educational resources. Major trends in the forecast period include eco-friendly and sustainable solutions, smart home integration, remote services and virtual consultations, health and wellness focus, outdoor living space enhancement.

The home improvement services market is set to witness significant growth, propelled by the increasing demand for remodeling homes. Home remodeling involves making alterations or enhancements to residential and commercial properties, contributing to the overall demand for home improvement services. As of January 2023, the Joint Center for Housing Studies of Harvard University reported a projected national spending of $485 billion on remodeling and repairs for owner-occupied homes in 2023, indicating a 2.6% increase from the previous year, 2022. The rising demand for home remodeling is a key driver behind the increasing demand for home improvement services, with market size estimates extending into 2023, 2024, and 2028.

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What Are The Key Trends That Influence Home Improvement Services Market Share Analysis?

Technological innovations are a key trend gaining popularity in the home improvement services market. Modern computer-based technologies have inspired homeowners to make improvements to their homes, such as visualization apps and 3D software. Manufacturers are concentrating on launching innovative products like windows and doors that open quickly and effortlessly. Such innovation enables key players to gain a competitive edge in the market. For instance, in February 2021, APL Apollo, an Indian-based steel company, launched Apollo Chaukhat, door frames manufactured using direct forming technology. These frames boast fire-resistant and termite-proof properties, ensuring easy installation both during and post-construction. Additionally, they are environmentally friendly and present a cost-effective solution.

Which Market Players Are Driving Growth In The Home Improvement Services Market?

Major companies operating in the home improvement services market report are <b>The Home Depot Inc., Lowe’s Companies Inc., Lennar Corporation, Henkel Corporation, Sherwin-Williams Company, PulteGroup Inc., Toll Brothers Inc., Owens Corning, Masco Corporation, KB Home, Meritage Homes Corporation, JELD-WEN Inc., Andersen Corporation, FirstService Corporation, Servpro, Pella Corporation, Belfor, Trex Company Inc., Armstrong Flooring Inc., Power Home Remodeling Group LLC, Steves and Sons Inc., Mr. Handyman International LLC, Rainbow International Restoration, Dreamstyle Remodeling, Coit Services Inc., DKI Ventures LLC, Venturi Restoration, American Exteriors, Neil Kelly Company, Crane Renovation Group, Simpson Strong-Tie Company Inc., D.R. Horton Inc., MI Windows and Doors LLC, Ply Gem Holdings Inc., Whirlpool Corporation, Mohawk Industries Inc., USG Corporation</b>

How Is The Global Home Improvement Services Market Segmented?

The home improvement services market covered in this report is segmented –

1) By Type: Kitchen Renovation and Addition, Bathroom Renovation and Addition, Exterior and Interior Replacements, System Upgrades, Other Types
2) By City Type: Metro Cities, Other Non-Metro Cities and Towns
3) By Buyers Age: Under 35, 35-54, 55-64, Above 65

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The Home Improvement Services Global Market Report 2024 provides an overview of the home improvement servicesmarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The home improvement services market forecast analyzes home improvement services market size, home improvement services market share, leading competitor and their market positions.

The Table Of Content For The Home Improvement Services Market Include

1. Home Improvement Services Market Executive Summary
2. Home Improvement Services Market Segments
3. Home Improvement Services Market Size And Template Market Growth Rate
4.  Key Home Improvement Services Market Trends
5. Major Home Improvement Services Market Drivers
……
25. Key Mergers And Acquisitions In The Home Improvement Services Market
26. Top Home Improvement Services Companies
27. Home Improvement Services Market Opportunities And Strategies
28. Home Improvement Services Market, Conclusions And Recommendations
29. Appendix

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