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The global home improvement services market reached a value of US$ 321.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 411.3 Billion by 2027, exhibiting at a CAGR of 3.80% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Home improvement services refer to the activities that involve remodeling, refurbishing and renovation of residential buildings. They include repairing, altering, remodeling, improving, modifying and demolishing parts of residential or non-commercial properties. Kitchen and bathroom renovation and addition, floor replacement, room addition, system upgrades and exterior and interior replacements are some commonly used home improvement services. They are widely used to enhance the overall appearance, privacy, safety and comfort and protect the unit from weather-related damage. Home improvement services also aid in improving energy efficiency, optimizing space utilization and improving the functionalities of the house.
Rapid urbanization, along with the increasing demand for remodeling homes, is one of the key factors driving the growth of the market. Home improvement services are widely adopted to remodel newly bought homes or upgrading existing residential complexes as per the preference and requirements of the consumers. Additionally, the rising requirement for energy-efficient and luxurious living spaces with efficient storage cabinets and trendy floorings is favoring the market growth. Moreover, various technological advancements, such as the launch of the Internet of Things (IoT)-integrated home control systems embedded with single touch screen panels, are providing a thrust to the market growth. These solutions provide convenient access and enhanced safety and convenience to users. In line with this, service providers are also integrating artificial intelligence-enabled cameras, lighting, audio and door access systems for providing remote access to the users, which is positively impacting the market growth. Other factors, including the implementation of various government initiatives to promote the construction of green buildings, along with the increasing expenditure capacities of the consumers, are anticipated to drive the market toward growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global home improvement services market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, buyers age and city type.
Breakup by Type:
Breakup by Buyers Age:
Breakup by City Type:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.
|Base Year of the Analysis||2021|
|Segment Coverage||Type, Buyers Age, City Type, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||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.|
|Customization Scope||10% Free Customization|
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The global home improvement services market was valued at US$ 321.4 Billion in 2021.
We expect the global home improvement services market to exhibit a CAGR of 3.80% during 2022-
The widespread utilization of home improvement services to protect the units from weather-related
damage and enhance the overall appearance, safety, and comfort while remodeling the residential
spaces is primarily driving the global home improvement services market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent
lockdown regulations across several nations resulting in temporary halt in numerous construction
activities, thereby negatively impacting the demand for home improvement services.
Based on the type, the global home improvement services market has been segmented into kitchen
renovation and addition, bathroom renovation and addition, exterior and interior replacements,
system upgrades, and others. Currently, exterior and interior replacements represent the largest
Based on the city type, the global home improvement services market can be bifurcated into metro
cities and non-metro cities and towns. Among these, metro cities currently account for the majority
of the total market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin
America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global home improvement services market include 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
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