The home remodeling market size was valued at $852.10 billion in 2020, and is estimated to reach $1,317.50 billion by 2030, growing at a CAGR of 4.3% from 2021 to 2030, according to a new report published by Allied Market Research.
According to EIN Newswires,
Home remodeling projects are commonly categorized into two types: DIY (Do It Yourself) and Contractor-led. Among these, the professional segment, led by skilled labor, dominated the market in 2020. The market analysis encompasses various applications of home remodeling, including windows & doors, kitchen & bathroom, floor & roof, walls, and others.
A significant driver of this market is the surge in remodeling activities targeting older buildings. However, fluctuating prices of raw materials used in home remodeling product manufacturing pose a challenge to market growth.
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