U.S. Home Remodeling Market Analysis

U.S. Home Remodeling Market Analysis

Do it yourself (DIY) projects are forecast to register a growth rate of over 4.3% through 2027. Millennials are getting interested in do-it-yourself projects and shifting their preference toward eco-friendly and energy-efficient projects with advanced features. These DIY projects are cost-effective to end consumers as there is no inclusion of third-party members. Homeowners and rental property owners can consult with top architects to invest in prominent energy-efficient upgrades and also visualize & implement their vibrant and out of the box ideas for executing the projects.
 

Wholesalers play a pivotal role in the distributing channel by collaborating with manufacturers, retailers, and consumers. The wholesale to retailer segment registered the highest revenue of around USD 140 billion in 2020 and is poised to see a constant pace up to 2027. Wholesalers can improve the demand supply stability by providing customer’s feedback directly to the manufacturers.
 

Rapidly growing ecommerce business enables wholesalers or manufacturers to offer numerous options for home improvement products or materials to the customers at an affordable cost. Additionally, real-time tracking and comparable pricing options can influence consumers toward digital platform, eventually boosting the home remodeling market size in the U.S.
 

Residential showroom segment is set to cross USD 80 billion by 2027. Residential showrooms enable consumers to observe and inspect the product before making purchase. They give sense of personal touch and make consumers more confident about the purchase. However, residential showrooms carry greater inventory options and provide a wide range of products to customers. 
 

The kitchen improvement & additions segment is anticipated to witness highest gain of above 5% through 2027. Increasing adoption of smart kitchens in high income states owing to its energy-efficient and water-efficient applications such as motion sensing water faucets and lights, auto dispensing washing liquid, and Bluetooth or Wi-Fi-enabled appliances is spurring the segment demand. An upsurge in the popularity of attractive colors and designs among cabinet structures coupled with maximum storage capacity and fire-proof cooking countertops will stimulate the U.S. home remodeling market share.