Remodeling in Illinois
Over the five years to 2017, the Remodeling industry in Illinois has grown quickly as several factors have prompted homeowners and real estate companies to increase spending on home improvements. Fast growth in residential construction activity has been the main cause of increased revenue in the industry. With double-digit growth in the value of residential construction and the number of housing starts in Illinois over the past five years, the potential number of clients for remodeling services increased quickly, boosting demand for industry services. Over the five years to 2022, the industry is expected to continue to grow as per capita disposable income rises in Illinois, while the construction sector is expected to continue to underpin growth.
Operators in this industry remodel and renovate the interior 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.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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