Portland, OR, May 03, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global home remodeling market was estimated at $852.10 billion in 2020 and is expected to hit $1,317.50 billion by 2030, registering a CAGR of 4.3% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
Advancements in the computer-based technologies such as visualization apps, 3D rendering software, and other such technologies drive the growth of the global home remodeling market. On the other hand, high costs associated with certain technologies restrain the growth to some extent. However, increased spending on remodeling by homeowners is expected to create lucrative opportunities in the industry.
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Covid-19 scenario-
- The global lockdown had a negative impact on the global home remodeling market, especially during the initial period. The disrupted supply chain affected the manufacturing of home remodeling products.
- However, as the global situation has started getting better, the market is expected to get back on track soon.
The global home remodeling market is analyzed across project type, distribution channel, application, and region.
Based on project type, the professional segment accounted for around three-fourths of the total market share in 2020, and is expected to rule the roost by 2030. The DIY segment, on the other hand, would garner the fastest CAGR of 4.7% throughout the forecast period.
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Based on distribution channel, the offline segment contributed to nearly four-fifths of the total market revenue each in 2020, and are projected to lead the trail by 2030. The online segment, however, would exhibit the fastest CAGR of 4.8% during the forecast period.
Based on region, the market across North America held the major share in 2020, garnering more than two-fifths of the global market. The Asia-Pacific region, simultaneously, would manifest the fastest CAGR of 5.3% throughout the forecast period.
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Leading Players:
The key market players analyzed in the global home remodeling market report include Dow Inc., IndustrieCottoPossagno S.p.A, JELD-WEN, Seven Group Holdings Limited (Boral Limited), Andersen Corporation, Kajaria Ceramics Ltd., Kohler Co., Lutron Electronics Co., Inc, Mohawk Industries, Inc., and Pella Corporation.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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