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Home Improvement Services Market Trends, Industry Analysis and Forecast 2023-2028

The global home improvement services market size reached US$ 341.3 Billion in 2022. By 2028, it will reach a value of US$ 426.7 Billion, growing at a CAGR of 4.56% (2023-2028).
Published 22 August 2023

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 trends, share, size, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

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.

What is Home Improvement Services?

Home improvement services comprise a wide range of professional offerings to enhance the aesthetic appeal, functionality, and value of residential properties. They involve various renovations, repairs, and upgrades that cater to the needs of homeowners. They assist in enhancing outdoor spaces and addressing a spectrum of projects, such as remodeling kitchens and bathrooms, installing energy-efficient systems, and renovating living spaces. They aid in creating a more comfortable living environment, reflecting personal preferences, and enhancing the overall quality of life. As they benefit from renewing living spaces and optimizing functionality, the demand for home improvement services is increasing around the world.  

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What are the growth prospects and trends in the home improvement services industry?

At present, the rising preference for personalized home improvement solutions among individuals represents one of the primary factors strengthening the market growth. Besides this, the growing popularity of modernization and convenience is offering a positive market outlook.

Apart from this, the increasing preference for energy-efficient and sustainable living spaces is bolstering the growth of the market. Moreover, the rising demand for professional home improvement services among individuals is contributing to the growth of the market. Additionally, the advent of digital platforms that streamline access to home improvement specialists and information is offering lucrative growth opportunities to industry investors.

Furthermore, the rising integration of smart home technologies, such as automated systems and intuitive controls, to maximize storage solutions is propelling the growth of the market. 

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What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Type:

·     Kitchen Renovation and Addition

·     Bathroom Renovation and Addition

·     Exterior and Interior Replacements

·     System Upgrades

·     Others

 Breakup by Buyers Age:

·     Under 35

·     35-54

·     55-64

·     Above 65

 Breakup by City Type:

·     Metro Cities

Non-metro Cities and Towns

Market 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 and 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.

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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