IMARC Group, a leading market research company, has recently releases report titled “Home Improvement Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global home improvement services market growth, size, share, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Home Improvement Services
Home improvement services encompass the provision of expert assistance and labor for residential property renovation, repair, and remodeling. They comprise various aspects of renovation, repair, and remodeling, and they play a crucial role in maintaining and upgrading homes. They also include services, such as plumbing, electrical work, and roof repair, to maintain the structural integrity of a house, preventing costly damage. They address diverse aspects of a home, from structural improvements to aesthetic upgrades, catering to the needs of homeowners for enhanced living spaces. They assist in creating functional spaces, such as adding rooms, converting basements, or remodeling kitchens and bathrooms.
How Big Is the Home Improvement Services Market?
The global home improvement services market size reached US$ 341.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 426.7 Billion by 2028, exhibiting a growth rate (CAGR) of 4.56% during 2023-2028.
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What are the growth prospects and trends in the home improvement services industry?
At present, the increasing demand for home improvement services for insulation installation and window replacement to improve energy efficiency and reduce utility bills represents one of the vital factors impelling the growth of the market.
Besides this, the rising popularity of home improvement services, as they boost the value of houses and make them more attractive to potential buyers, is contributing to the growth of the market. In addition, the growing emphasis on environmentally friendly materials, energy-efficient solutions, and sustainable construction practices is offering a favorable market outlook.
Apart from this, the increasing demand for contemporary and minimalist designs that promote simplicity and functionality is bolstering the growth of the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Type Insights:
- Kitchen Renovation and Addition
- Bathroom Renovation and Addition
- Exterior and Interior Replacements
- System Upgrades
- Others
Buyers Age Insights:
- Under 35
- 35-54
- 55-64
- Above 65
City Type Insights:
- 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
Who are the key players operating in the industry?
The report covers the major market players including:
- Belfor
- Coit Cleaners
- Crane Renovation Group
- DKI Ventures LLC
- FirstService Corporation
- Mr. Handyman International LLC
- Power Home Remodeling Group
- Rainbow International LLC
- Servpro
- Venturi Restoration
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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