Market Overview

The global Home Improvement Services Market was valued at USD 371.3 Billion in 2024. It is expected to reach USD 529.4 Billion by 2033, growing at a CAGR of 3.82% during the forecast period of 2025-2033. Driving factors include increased home remodeling, rising smart home adoption, and greater emphasis on energy-efficient living spaces.

Study Assumption Years

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

Home Improvement Services Market Key Takeaways

• The market size was USD 371.3 Billion in 2024.
• The market is projected to grow at a CAGR of 3.82% from 2025 to 2033.
• Forecast to reach USD 529.4 Billion by 2033.
• Rapid urbanization, inflating income levels, and changing living standards are driving growth.
• Increasing homeownership motivates homeowners to improve properties to beautify and enhance value.
• Smart home technology adoption and demand for energy-efficient homes are expanding market opportunity.
• Natural disasters boosting demand for repair and maintenance services.

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Market Growth Factors

The growth of the home improvement services market is driven by rising homeownership rates worldwide. Rapid urbanization and increased income levels have created stronger incentives for homeowners to invest in remodeling and upgrading their properties. Homeownership fosters pride and responsibility, motivating individuals to beautify living spaces and increase property values for future equity gains.

The increasing incorporation of smart home technologies is positively influencing the market. Homeowners are adopting smart devices such as thermostats, lighting solutions, appliances, and security systems integrated with AI, IoT, VR, and AR. These technologies also help visualize projects prior to implementation, enhancing safety and convenience, which fuels demand for related services.

Energy efficiency mandate adoption is another major factor boosting market growth. Home improvement projects increasingly include installation of energy management systems and renewable energy solutions like solar panels. Additionally, rising natural disasters such as hurricanes and floods have increased the need for home repairs, maintenance, and resilience upgrades, further expanding the service market.

Market Segmentation

Type Insights:

• Kitchen Renovation and Addition: Optimizes layout and design by reconfiguring space, adding storage, or expanding. Includes smart storage solutions.
• Bathroom Renovation and Addition: Enhances functionality and layout by reconfiguring or expanding bathroom areas.
• Exterior and Interior Replacements: The largest segment involving replacement of elements like windows, doors, and insulation to improve appearance and regulate indoor temperature.
• System Upgrades: Covers HVAC, insulation, and window upgrades to boost energy efficiency and reduce utility bills.

Buyers Age Insights:

• Under 35: Typically customize homes to reflect individuality and lifestyle.
• 35-54: Home improvement addresses needs of growing families and teenagers, such as additional bedrooms or play areas.
• 55-64: Focus on aging in place with modifications for accessibility and safety like grab bars or ramps.
• Above 65: Require modifications including bathroom grab bars and wheelchair accessibility for safe, comfortable living.

City Type Insights:

• Metro Cities: Account for largest market share due to limited living spaces; focus on space optimization with compact furniture and storage solutions. Emphasize energy efficiency, automation, and advanced technologies.
• Non-metro Cities and Towns: Prioritize customization and personalization. Focus on maintenance and repairs of older homes for longevity and safety.

Regional Insights

North America, comprising the United States and Canada, dominates the home improvement services market. The region's largest market share is supported by increasing home remodeling and renovation activities, heightened energy efficiency awareness, and growing smart home adoption. These factors collectively propel demand and market growth in North America.

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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