Home Improvement Services Market Report 2022 | Trends, Industry Analysis, 2027

According to the global home improvement services market report by IMARC Group, the market reached a value of US$ 321.4 Billion in 2021, and it is projected to reach a value of US$ 411.3 Billion by 2027, exhibiting a CAGR of 3.80% during 2022-2027.

Home improvement services comprise numerous services related to refurbishing, renovation, and remodeling residential buildings. They include improving, altering, modifying, demolishing, decorating, and repairing various parts of residential or non-commercial properties. Some commonly offered home improvement services are floor replacement, room addition, kitchen and bathroom renovation, system upgrades, and exterior and interior replacements. They are generally used to improve aesthetics, privacy, safety, and comfort and protect the area from weather-related damage. Since they help enhance functionalities, improve energy efficiency, and optimize space utilization of the house, home improvement services are gaining immense traction across the globe.

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Home Improvement Services Market Trends and Drivers:

The global home improvement services market is primarily driven by the rising demand for remodeling homes and rapid urbanization. Moreover, many service providers are integrating artificial intelligence-enabled cameras, audio, lighting, and door entry systems to offer remote access to consumers. In line with this, the shifting inclination toward easy access and improved safety and convenience among individuals is positively influencing the market growth.

Additionally, the surging adoption of home improvement services for remodeling newly bought homes or modernizing existing residential complexes as per consumer preferences and needs is another major growth-inducing factor. Besides this, numerous technological advancements, including the integration of the Internet of Things (IoT) in home control systems embedded with single touch screen panels, have catalyzed market growth.

Furthermore, the escalating demand for energy-efficient, luxurious living spaces with efficient storage solutions and attractive floorings is contributing to the market growth. Other factors, including favorable government initiatives promoting the construction of green buildings, inflating consumer disposable incomes, and rising living standards, are also anticipated to drive the market further.

Global Home Improvement Services Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Home Improvement Services Companies:

Belfor, Coit Cleaners, Crane Renovation Group, DKI Ventures LLC, FirstService Corporation, Mr. Handyman International LLC, Power Home Remodeling Group, Rainbow International LLC, Servpro and Venturi Restoration.

The report has segmented the market on the basis of region, type, buyers age and city type.

Breakup by Type:

• Kitchen Renovation and Addition
• Bathroom Renovation and Addition
• Exterior and Interior Replacements
• System Upgrades
• Others

Breakup by Buyers Age:

• Under 35
• 35-54
• 55-64
• Above 65

Breakup by City Type:

• Metro Cities
• Non-metro Cities and Towns

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa

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 Key highlights of the report:

• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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