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Home Improvement Services Size
IMARC Group, a leading market research company, has recently releases report titled“ Home Improvement Services Market Report by Type (Kitchen Renovation and Addition, Bathroom Renovation and Addition, Exterior and Interior Replacements, System Upgrades, and Others), Buyers Age (Under 35, 35-54, 55-64, Above 65), City Type (Metro Cities, Non-metro Cities and Towns), and Region 2024-2032 “, Offers a comprehensive analysis of the industry, which comprises insights on the market.
How big is the home improvement services industry?
The global home improvement services market size reached US$ 356.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 512.6 Billion by 2032, exhibiting a growth rate (CAGR) of 4% during 2024-2032.
Industry Overview of Home Improvement Services
Home improvement services refer to professional services and solutions designed to enhance the functionality, aesthetics, and value of residential properties. These services encompass a wide range of tasks and projects, from minor repairs to major renovations. They assist in remodeling kitchens and bathrooms, upgrading flooring and fixtures, landscaping, and painting. They allow homeowners to customize their living spaces according to their preferences and needs. Whether it's expanding living areas, modernizing outdated features, or creating a more energy-efficient home, these services enable homeowners to tailor their spaces to their lifestyles. In addition, upgrading key aspects of a home, such as kitchens and bathrooms, can attract potential buyers and increase resale value. Moreover, energy-efficient upgrades, like installing insulated windows or upgrading to energy-efficient appliances, can lead to long-term savings on utility bills. Home improvement services also contribute to improved comfort and safety. Fixing structural issues, repairing plumbing or electrical systems, and ensuring proper insulation can create a safer living environment for residents. Upgrades to heating, ventilation, and air conditioning (HVAC) systems can also enhance indoor air quality and overall comfort. Furthermore, these services can help homeowners save money by addressing issues before they escalate.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/home-improvement-services-market/requestsample
What are the growth prospects and trends in the home improvement services industry?
At present, rapid urbanization is leading to increasing demand for housing, prompting homeowners to invest in enhancing their living spaces. As urban population is expanding, the need to optimize existing homes becomes crucial, driving the demand for home improvement services. Besides this, homeowners recognize that upgrading their homes not only enhances aesthetics but also ensures safety and functionality, fostering a steady demand for improvement services. In addition, changing lifestyle preferences and design trends are influencing homeowners to modify their living spaces.
With a focus on open layouts, energy efficiency, and smart home technologies, people seek professionals to remodel their homes accordingly. Moreover, fluctuations in the real estate market are encouraging homeowners to invest in home improvements to increase property value. Whether selling or renting, a well-maintained and modernized property can yield better returns. Apart from this, the increasing environmental consciousness is prompting homeowners to opt for sustainable home improvements, such as energy-efficient windows, insulation, solar panels, and water-saving fixtures, which is strengthening the growth of the market.
Additionally, the rising demand for home improvement services, as homeowners value professional expertise for complex projects that ensure quality workmanship and minimize risks, is offering lucrative growth opportunities to industry investors. Furthermore, home improvement services play a crucial role in adapting living spaces to cater to the elderly and differently-abled, which is bolstering the growth of the market.
Leading Companies Operating in the Global Home Improvement Services Industry: 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
Home Improvement Services Market Report 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
Regional Insight:
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
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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