$120.9bn
$X.Xbn
1m
820k
$XX.Xbn
Remodelers enjoyed modest growth over the past five years. A decline in consumer confidence amid uncertain economic conditions and rising interest rates offset some gains remodelers benefited from early over the past five years. Remodeling revenue has been increasing at a CAGR of 0.5% to $120.9 billion over the past five years, including a projected increase of 0.9% in 2024 alone, as profit is expected to dip to 6.2%. Labor shortages and increased price-based competition among a growing number of remodelers have primarily contributed to profit declines. Remodelers' ability to pass higher construction costs onto consumers prevented large profit declines.
Industry revenue has grown at a CAGR of 0.5 % over the past five years, to reach an estimated $120.9bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($short_0)
2024 | Profit ($short_0)
2024 | Profit Margin (%)
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There are no companies that hold a large enough market share in the Remodeling in the US industry for IBISWorld to include in this product.
Remodeling in the US
Industry revenue is measured across several distinct product and services lines, including Kitchen and bathroom remodeling, Room additions and other interior alterations and Outside additions. Kitchen and bathroom remodeling is the largest segment of the Remodeling in the US.
High home prices encourage consumers to make additions to their homes
Operators in this industry remodel and renovate the interiors and exteriors of residential buildings (i.e. single-family homes and multifamily apartment building units). Remodeling includes additions, alterations, reconstruction, maintenance and repair work. This industry is composed of general contractors, operative remodelers, remodeling design-build companies and remodeling project construction management companies. This industry does not include commercial remodeling.
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NAICS 236118 - Remodeling in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Remodeling revenues are down because of rising interest rates. However, anticipated rate cuts in 2024 may offer a boost for remodelers, potentially sparking a late business s...
Learn about an industry's products and services, markets and trends in international trade.
Skyrocketing home prices have sparked homeowner investments in additions and improvements. Still, the growth of do-it-yourself projects and a trend toward urban lifestyles ha...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
High home prices spur remodeling in areas like New York and California. Homeowners there are often more driven to maintain or boost their property values through ambitious re...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Remodelers need cost-effective services to stay competitive. They also set themselves apart by offering design samples and demonstrating their work's quality, efficiency and ...
Learn about the performance of the top companies in the industry.
No company holds over 5.0% of the remodeling market share. The majority are small, niche-based entities operating in local markets, with most employing less than five people.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Residential remodelers navigate a web of regulations. They must meet state licensing requirements and follow both OSHA safety standards and International Code Council buildin...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profit has taken a hit because labor shortages have driven up wages. Slow growth has also raised price-based competition, leading to profit declines.
Including values and annual change:
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Key data sources in the US include:
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
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IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
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The market size of the Remodeling in the US industry in United States is $120.9bn in 2024.
There are 820k businesses in the Remodeling in the US industry in United States, which has grown at a CAGR of 7.5 % between 2019 and 2024.
The market size of the Remodeling in the US industry in United States has been growing at a CAGR of 0.5 % between 2019 and 2024.
Over the next five years, the Remodeling in the US industry in United States is expected to grow.
Outside additions and Systems and equipment are part of the Remodeling in the US industry.
The level of competition is high and increasing in the Remodeling in the US industry in United States.