Over the five years to 2017, the Remodeling industry has continued its upward trend, as several factors have encouraged consumers to increase spending on home improvements. Over the five years to 2022, industry recovery will be driven by improvements in employment and per capita disposable income. Additionally, housing prices are expected to continue rising, bolstering demand for industry services. Despite tightening monetary policy, interest rates are expected to grow slowly. As a result, the homeownership rate is anticipated to only slightly decrease over the five years to 2022. Consequently, industry revenue is forecast to increase, albeit at a slightly slower rate than during the previous five-year period.
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.