U.S. home remodeling market is anticipated to reach over USD 450 billion by 2027, according to a new research report by GMI Inc. Rapid industrialization and increasing growth of population in developed cities create moderate crisis for affordable housings in the U.S., which will drive the home remodeling industry growth. Moreover, achieving longevity by restructuring and remodeling aging buildings will boost the home improvement market across the states.

Home improvement activities are gaining popularity across the U.S. in recent years owing to attractive appearances and multiple functionalities along with numerous designs. The high-end structuring and finishing of existing structures opens up a variety of project opportunities for architects, developers, and homeowners. In order to replace outdated components, add the newest amenities, and decrease energy consumption, the ageing housing stock needs to be renovated and reorganised. A demand for home improvement projects will also be driven by rising new housing costs and high transfer costs.

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The ongoing COVID-19 pandemic has slowed the growth of the U.S. home remodeling market due to production halts, high construction material costs, and a lack of skilled labour. The spread of the coronavirus has a particularly negative impact on California’s major cities, including San Francisco and Los Angeles. The market revenue will also be further constrained by the fluctuating cost of necessary materials. Due to the growing demand for office and gym space as well as recreational activities, the work from home policy significantly expands the potential for industry expansion.

The DIFM segment will proliferate the market size by 2027

The Do-It-For-Me (DIFM) segment is anticipated to grow at a significant rate and is predicted to hold over 60% of the U.S. home remodeling market share in 2027. Rapidly growing consumer demand for high-end operations, quality finishing, and high convenience will stimulate the segment growth. DIFM project professionals are highly capable to execute complex and expensive projects effectively. However, the supplementation of the existing skillset with additional expertise along with technological advancements such as 3D modeling will proliferate the market statistics.

Direct selling through online will have a considerable market share

Over the years, e-commerce platforms have grown significantly across the United States. To counter third-party members, manufacturers and producers are concentrating on directly connecting with customers through online platforms. Numerous domestic service providers are also committing themselves to offering automated home improvement solutions in accordance with client needs. Due to its numerous benefits, such as customised delivery, a wide range of options, and flexible buying hours, the direct selling through online segment is expected to surpass USD 70 billion in 2020. Convenient ways to compare goods and their prices lead to higher sales and improved customer satisfaction.

The B2C segment will contribute to the wholesale market growth

The B2C wholesale segment is set to cross USD 100 billion revenue by 2027. Growing incorporation of e-commerce platforms among wholesalers will propel the B2C segment through 2027. Easy delivery options, quality packaging, and lower delivery time are significantly contributing to the expansion of businesses in new geographical areas. E-commerce offers wholesalers a better inventory control system to track inventory movement across the channels. Supportive state policies and regulations on e-commerce businesses will provide a positive outlook for the U.S. home remodeling market share.

Growing preference toward bathroom additions and improvements will boost the market share

Growing consumer demand for opulent bathrooms with useful amenities is probably going to affect market demand. Up until 2027, the bathroom additions and improvements market is anticipated to grow at a rate of close to 4.2%. This segment is improving noticeably in states like Colorado, California, Alabama, Alaska, Tennessee, and New Hampshire. The market growth will be supported by the quick uptake of cutting-edge bathroom and plumbing fixtures, such as designer cabinets, functional spaces, hidden showers, built-in media units, etc. Additionally, the construction of these facilities will result in lower long-term costs, less water use, fewer risks, and greater comfort. The market will grow as a result of rising living standards and the high purchasing power of many homeowners.

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Economical products will gain competitive advantages

The U.S. home remodeling market is highly competitive and major market players are continuously focusing on different business strategies, such as planned investments and new product developments, to gain competitive advantages. For instance, in January 2020, Kohler announced to launch five new kitchen & bathroom products including Moxie showerhead & smart speaker, Aquifer Refine water purification system, etc., to strengthen its foothold in the market. Key market players in the market are Andersen Corporation, APCO Industries, Ferguson Enterprises, ABC Supply, The Sherwin-Williams Co., JELD-WEN, Masco Corp., Kohler Co., Pella Corporation, etc.

Partial Chapter of the Table of Content

Chapter 1 Methodology and Scope

1.1 Market definitions

1.2 Base estimations & workings

1.1.1 U.S.

1.3 Forecast calculations

1.3.1 COVID-19 impact calculations on industry forecast

1.4 Data sources

1.4.1 Primary

1.4.2 Secondary

1.4.2.1 Paid sources

1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 U.S. home remodeling market 3600 synopsis, 2017–2027

2.1.1 Business trends

2.1.2 Project trends

2.1.3 Distribution channel trends

2.1.4 Wholesale trends

2.1.5 Application trends

2.1.6 TOP 5 player for each wholesaler segments in U.S.

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