Market Overview

The global home improvement services market size reached USD 371.3 Billion in 2024. Forecasts by IMARC Group project the market to attain USD 529.4 Billion by 2033, growing at a CAGR of 3.82% from 2025 to 2033. Key drivers include the increasing need for home remodeling, rising smart home adoption, and the demand for energy-efficient and luxurious living spaces. Explore more about the Home Improvement Services Market

Study Assumption Years

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

Home Improvement Services Market Key Takeaways

• The global home improvement services market size was USD 371.3 Billion in 2024.
• The market is projected to grow at a CAGR of 3.82% during the forecast period 2025-2033.
• Market value is expected to reach USD 529.4 Billion by 2033.
• Increasing homeownership rates motivate homeowners to enhance and beautify their properties.
• Rising urbanization and inflating income levels strengthen the market growth worldwide.
• The demand for energy-efficient and smart homes is driving adoption of related services.
• Growing instances of natural disasters prompt repair and maintenance activities boosting the market.

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Market Growth Factors

Rapid urbanization, increasing homeownership, and rising income levels globally are significant catalysts for the home improvement services market. Homeowners are motivated to invest in projects that beautify and enhance their residences, leading to increased demand for renovation and remodeling. Such investments also boost property values by helping homeowners build equity and commanding higher resale prices over time.

The demand for energy-efficient living spaces and adoption of smart home technologies are key growth drivers. Homeowners are increasingly investing in energy management systems, solar panels, and smart devices integrated with AI, VR, AR, and IoT technologies. These enable visualization of projects before implementation while promoting energy efficiency and safety through advanced security systems like smart locks and surveillance features.

The rising frequency of natural disasters such as hurricanes, floods, and wildfires is accelerating market growth by creating urgent needs for repair and restoration services. Additionally, homeowners seek luxury upgrades including efficient storage solutions and trendy flooring, complementing the overall market expansion by enhancing living comfort and aesthetic appeal.

Market Segmentation

Type Insights:

• Kitchen Renovation and Addition: Optimizes kitchen layouts and design by reconfiguring space, adding storage solutions, and expanding kitchen areas. Enables incorporation of smart storage and organization systems.
• Bathroom Renovation and Addition: Enhances bathroom functionality and layout by reconfiguring space, expanding area, and adding storage solutions.
• Exterior and Interior Replacements: Largest segment; involves replacing outdated or worn elements like windows, doors, and insulation to improve appearance and regulate indoor temperatures.
• System Upgrades: Includes HVAC, insulation, and windows improvements to enhance energy efficiency and reduce utility costs.

Buyers Age Insights:

• Under 35: Buyers aim to customize homes to reflect personal preferences and lifestyle.
• 35-54: Homeowners with growing families seek additional bedrooms, play areas, or functional spaces.
• 55-64: Desire accessible, functional homes to age in place with modifications like grab bars and ramps.
• Above 65: Require modifications ensuring safety and comfort such as wheelchair accessibility and non-slip flooring.

City Type Insights:

• Metro Cities: Largest market share due to limited living spaces requiring optimized storage, compact furniture, and creative layouts. Emphasis on energy-efficient, automated systems for convenience.
• Non-metro Cities and Towns: Focus on customization and personalization; maintenance and repair of older homes to ensure longevity and safety.

Regional Insights

North America, comprising the United States and Canada, is the largest market for home improvement services. This dominance is driven by increasing remodeling and renovation activities and a rising awareness of energy efficiency and sustainability. Additionally, the growing adoption of smart homes and the need for energy-efficient living spaces are positively influencing market trends in the region.

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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IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.

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