Remodeling Market 2020 – 2026 | Industry Segments, Trends and Regional Analysis

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Remodeling Market Development Trends and Growth
Drivers Analysis by 2026

• The global remodeling market is projected to
  foresee a period of respectable growth over the
  coming years owing to the mounting investments
  towards infrastructural development across a
  number of global economies. Additionally,
  changing consumer demographics are also slated to
  make major contributions towards the market
  outlook. The emerging trend of upgrading existing
  home HVAC, electrical systems, and other major
  appliances to work with smart automation to cut
  down energy consumption would further fuel
  industry revenues through remodeling activities.
• According to a research report by Global Market
  Insights Inc., the global remodeling market is
  likely to surpass a valuation of 4.76 trillion
  by the end of 2026.

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• Additionally, increasing expenditure on house
  repairs and home improvements on owner-occupied
  properties would positively influence market
  growth. In fact, according to the Harvard
  University LIRA (Leading Indicator of Remodeling
  Activity), the U.S. will observe a 1.5 rise in
  home remodeling expenditures percent in 2020. The
  market is witnessing this growth despite the
  global pandemic, which has caused many industries
  to go into an economic slump. In fact, in spite
  of the slowdown, homeowner repair as well as
  improvement expenditures are still expected to
  grow in 2020 to over 330 billion.

• With respect to end-use, the commercial sector is
  projected to register a healthy CAGR of 3.8
  through the forecast timeframe. Commercial
  infrastructure is a crucial for attaining high
  economic growth for any country. Which is why
  government bodies frequently promote innovation
  within the commercial sector, which results in
  numerous mega projects across the globe. Office
  space renovation leads to modernization, enhanced
  safety and health, better company image, as well
  as an improved infrastructural layout. Moreover,
  renovation also helps decrease the technical and
  operational barriers faced by employees, which
  would positively influence the overall market
  expansion.

• Market players are increasingly using various
  growth strategies such as acquisitions,
  partnerships, and attractive discount offers to
  customers to bring in more business. Likewise,
  over the past years it was also observed that
  industry players were focusing on expanding their
  regional footprints by opening new facilities.

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• Regional Analysis

• On the regional front, the Latin America
  remodeling market is projected to observe a CAGR
  of 4.3 over the analysis period. Increasing
  changes in the outlook for commodity rates,
  stronger exports, rising business confidence, and
  elevated consumption across several areas of the
  region are some of the prominent factors that are
  outlining regional market size. In addition,
  steady growth trend in the tourism industry along
  with rapid expansion of regional population and
  increasing economic stability should further
  stimulate the LATAM market expansion.

• Competitive Analysis

• The competitive landscape of the remodeling
  industry is inclusive of players such as
  State-wide remodeling, ROCKWOOL International,
  Power Home Remodeling Group, Pella Corporation,
  Owens Construction, Neil Kelly Company, Henkel
  Construction, Harvey Building Products,
  Dreamstyle Remodeling, Case Design/Remodeling,
  The Sherwin -Williams Company, Lutron
  Electronics, Kohler, The Home Depot JELD-WEN,
  Masco Corporation, Dow Building Solutions, and
  Andersen Corporation among others.

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eling-market
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