Market Overview

The global Home Improvement Services Market reached USD 371.3 Billion in 2024. The market is projected to grow at a CAGR of 3.82% during the forecast period 2025-2033, reaching USD 529.4 Billion by 2033. Key factors driving this growth include the rising need for home remodeling, increasing adoption of smart home technologies, and demand for energy-efficient living spaces.

Study Assumption Years

• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033

Home Improvement Services Market Key Takeaways

• The market size stood at USD 371.3 Billion in 2024.
• The market is expected to register a CAGR of 3.82% from 2025 to 2033.
• Forecast market value for 2033 is USD 529.4 Billion.
• Increasing homeownership rates globally are driving market growth by motivating homeowners to enhance and beautify their properties.
• The growing adoption of smart homes integrated with AI, VR, AR, and IoT technologies boosts demand for smart security and automation upgrades.
• Demand for energy-efficient and luxurious living spaces with efficient storage and trendy flooring supports market expansion.
• Natural disasters like hurricanes, floods, and wildfires increase repair and maintenance service needs.

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Market Growth Factors

The home improvement services market is bolstered by rising homeownership rates worldwide. Rapid urbanization, increased income levels, and elevated living standards empower homeowners to invest in property enhancements. Homeowners view remodeling and renovations as means to increase property value and equity, motivating them to undertake various improvement projects that enhance both aesthetics and comfort.

The rising adoption of smart home technology is significantly shaping market growth. Integration of devices such as smart thermostats, lighting, appliances, and security systems with artificial intelligence (AI), virtual reality (VR), augmented reality (AR), and the Internet of Things (IoT) enables homeowners to visualize and implement improvements efficiently. Features like video surveillance, motion and entry sensors, and smart locks improve security and convenience.

Additionally, the market sees increasing demand for energy-efficient living spaces. Services including the installation of energy management systems help monitor and optimize energy usage while incorporating renewable energy sources like solar panels. The need for repairs and maintenance has also surged due to frequent natural disasters such as hurricanes, floods, and wildfires, which damage homes and create a continuous demand for restoration services.

Market Segmentation

Type Insights:

• Kitchen Renovation and Addition: Optimizes kitchen layout and design by reconfiguring space, adding storage, or expanding areas with smart organization solutions.
• Bathroom Renovation and Addition: Enhances bathroom functionality and layout through space reconfiguration, storage additions, or expansions.
• Exterior and Interior Replacements: Largest segment, involving replacement of worn elements like windows, doors, and insulation to improve home appearance and temperature regulation.
• System Upgrades: Includes HVAC, insulation, and window upgrades to enhance energy efficiency, reducing consumption and utility costs.
• Others

Buyers Age Insights:

• Under 35: Buyers often customize homes to reflect personal lifestyle and preferences.
• 35-54: Families with growing children seek additional functional spaces like bedrooms and play areas.
• 55-64: Buyers aim for accessible, functional homes with modifications such as grab bars and walk-in tubs.
• Above 65: Require home modifications to ensure safety and comfort including wheelchair accessibility and non-slip flooring.

City Type Insights:

• Metro Cities: Largest market share due to limited living space, with emphasis on optimizing space through storage, compact furniture, and efficient layouts; preference for energy-efficient and automated technologies.
• Non-metro Cities and Towns: Prioritize customization and personalization; focus on maintenance and repair of older homes to ensure safety and longevity.

Regional Insights

North America, encompassing the United States and Canada, dominates the home improvement services market. The region benefits from strong remodeling and renovation activities, rising awareness about energy efficiency and sustainability, and increasing adoption of smart home technologies. This combination fuels demand and positions North America as the largest market in this industry.

Key Players

• American Exteriors
• Ashley Global Retail, LLC
• ATI Restoration, LLC
• Belfor
• COIT Cleaning and Restoration Services
• Crane Renovation Group
• FirstService
• Kohler Co.
• Mr. Handyman LLC
• Rainbow Restoration
• Servpro

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