The global residential remodeling market was valued at USD 2.70 trillion in 2023 and is expected to reach USD 3.67 trillion by 2030, expanding at a CAGR of 4.6% from 2024 to 2030. Market growth is primarily supported by the aging residential housing stock worldwide and a steady increase in homeownership levels. As existing homes require upgrades to remain functional, energy efficient, and visually appealing, homeowners continue to invest in remodeling activities that enhance property value and living standards.

Market Size and CAGR

  • 2023 Market Size: USD 2.70 trillion
  • 2030 Projected Market Size: USD 3.67 trillion
  • CAGR (2024–2030): 4.6%
  • Key Market Trends & Insights

Key Market Trends & Insights

Asia Pacific accounted for the largest revenue share of 36.9% in 2023 and is anticipated to register the fastest growth rate over the forecast period. Rapid urbanization, expanding middle-class populations, and increasing residential construction activity are key contributors to regional growth. The U.S. residential remodeling market is projected to grow at a CAGR of 4.6% during the forecast period, supported by a large base of aging homes and strong consumer spending on renovations.

By application, the system and equipment segment led the market with a revenue share of 26.3% in 2023 and is expected to maintain robust growth through the forecast period. Rising investments in HVAC systems, plumbing, electrical upgrades, and smart home installations continue to support segment expansion. Disaster repair applications are expected to grow at a CAGR of 4.6% from 2024 to 2030, as climate change increases the occurrence and severity of natural disasters such as floods, hurricanes, and wildfires.

On the basis of service type, specialized service providers dominated the market, accounting for 81.7% of total revenue in 2023. This dominance reflects homeowners’ preference for experienced contractors capable of handling complex remodeling projects, regulatory requirements, and customized design solutions.

In the U.S., a significant portion of residential properties are over 30 years old, creating sustained demand for renovations that improve energy efficiency, safety, and aesthetics. Homeowners are increasingly prioritizing projects that enhance comfort, reduce utility costs, and increase resale value. Additionally, the continued adoption of remote and hybrid work models has boosted demand for home office renovations and space optimization projects.

The residential remodeling market offers substantial opportunities in sustainable and smart home renovations. Growing consumer awareness of environmental impact, combined with government incentives for energy-efficient upgrades, is driving demand for eco-friendly solutions such as solar panels, energy-efficient windows, and sustainable building materials. Homeowners are increasingly focused on reducing energy consumption and carbon footprints, creating favorable conditions for companies offering green remodeling products and smart home technologies.

Order a free sample PDF of the Residential Remodeling Market Intelligence Study, published by Grand View Research.

Key Residential Remodeling Company Insights

Leading companies in the market include Andersen Corporation, Dow Inc., Kohler Co., Pella Corporation, Trex Company, and JELD-WEN. Andersen Corporation maintains a strong position in the window and door segment through its focus on energy-efficient and premium design products supported by an extensive distribution network. JELD-WEN is recognized for its wide portfolio of energy-efficient windows and doors and its strong presence across North America, Europe, and Australia.

Emerging participants such as Boise Cascade Company, Lutron Electronics Co. Inc., Seven Group Holdings Limited, and IndustrieCottoPossagno S.p.A are strengthening their market presence. Lutron Electronics is gaining traction through its advanced lighting control systems and smart home solutions, aligning well with the rising adoption of home automation. Seven Group Holdings Limited continues to expand through strategic investments and acquisitions, leveraging its strong financial base to capture growth opportunities in the remodeling sector.

Key Residential Remodeling Companies

  • Dow Inc.
  • Pella Corporation
  • JELD-WEN
  • IndustrieCottoPossagno S.p.A
  • Andersen Corporation
  • Seven Group Holdings Limited
  • Kohler Co.
  • Trex Company
  • Lutron Electronics Co. Inc.
  • Boise Cascade Company

Conclusion

The residential remodeling market is poised for steady growth through 2030, supported by aging housing stock, rising homeownership, and evolving lifestyle preferences. Increasing investments in disaster repairs, smart home upgrades, and sustainable remodeling solutions are reshaping market dynamics. With strong regional demand, particularly in Asia Pacific and the U.S., and continued innovation from both established and emerging players, the market is expected to maintain consistent expansion and offer long-term opportunities for stakeholders across the value chain.

Explore Horizon Databook – The world’s most expansive market intelligence platform developed by Grand View Research.