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2024 U.S. Industry Statistics & Market Forecast - Residential Remodelers
Market Size & Industry Statistics
The total U.S. industry market size for Residential Remodelers:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|
| Market Forecast ($ millions) | ||||||
| Projected Industry Growth Rate (%) | ||||||
Industry Insights
The Residential Remodelers industry has witnessed several key trends over the past few years that have transformed the way this segment operates. One of the major trends is the increasing consumer interest in sustainable and eco-friendly practices. Homeowners are now seeking out remodeling solutions that not only enhance the aesthetic appeal of their homes but also promote energy efficiency and reduce the carbon footprint.Another significant trend is the shift towards technology adoption. With the advent of new tools and software, residential remodelers are now able to streamline their operations, optimize project management, and enhance communication with their clients. For instance, the use of 3D modeling software has enabled remodelers to present more realistic representations of home renovations to clients, thereby improving their decision-making process.
The rise of smart homes and intelligent systems is also impacting the Residential Remodelers industry. With more homeowners investing in home automation and voice-activated technologies, remodelers must incorporate these smart features into their renovation plans and designs.
Lastly, there is an increasing demand for aging-in-place remodeling options. As baby boomers age, more homeowners are seeking to modify their homes with features like grab bars, wheelchair ramps, and bathroom safety features to ensure their homes remain functional and safe as they age.
In summary, sustainable practices, technology adoption, smart homes, and aging-in-place remodeling are some of the major trends impacting the Residential Remodelers industry. To stay competitive, remodelers must adapt to these trends and incorporate them into their service offerings.
U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) | |
|---|---|---|
| Total Revenue | Order at top of page |
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| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Residential Remodelers company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Residential Remodelers industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Residential Remodelers measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 13% | Order at top of page |
||
| Chief Executives | 0% | |||
| General and Operations Managers | 5% | |||
| Other Management Occupations | 7% | |||
| Construction Managers | 6% | |||
| Construction Managers | 6% | |||
| Business and Financial Operations Occupations | 8% | |||
| Business Operations Specialists | 7% | |||
| Office and Administrative Support Occupations | 13% | |||
| Construction and Extraction Occupations | 56% | |||
| Supervisors of Construction and Extraction Workers | 8% | |||
| First-Line Supervisors of Construction Trades and Extraction Workers | 8% | |||
| First-Line Supervisors of Construction Trades and Extraction Workers | 8% | |||
| Construction Trades Workers | 46% | |||
| Carpenters | 24% | |||
| Carpenters | 24% | |||
| Construction Laborers | 16% | |||
| Construction Laborers | 16% | |||
Residential Remodelers Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Residential Remodelers industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Residential Remodelers industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Residential Remodelers industry. |
Source:
Innovation News
- Jan 24, 2024: Prefix trademarks "FASTFIX" - Home repair services for major home equipment and appliances; preventive maintenance services for major home equipment and appliances; consultation in the field of repairing and maintaining home appliances; providing home repair information
- Jan 03, 2024: Rhode Island Restoration trademarks "READY. RAPID. RELIABLE." - Restoration services in the field of water, smoke and fire damage
- Jul 28, 2023: Twin Construction trademarks "TWIN CONSTRUCTION" - Constructing decks; Constructing porches; Constructing sunrooms; Construction and maintenance of buildings; Construction and renovation of buildings; Construction and repair of buildings; Construction and repair of houses; Construction of building interiors; Construction of buildings; Construction of commercial buildings; Construction of decks; Construction of houses; Construction of office buildings; Construction of porches; Construction of residential buildings; Construction planning; Construction project management services; Construction supervision; Building construction; Building construction advisory services; Building construction and repair; Building construction consultancy services; Building construction services; Building construction supervision; Building construction, remodeling and repair; Commercial building construction; Custom construction of buildings; Custom construction of homes; Custom construction of houses; Custom building construction; General construction contracting; Provision of construction advice; Provision of construction information; Residential building construction; Supervision of building construction
- Oct 25, 2018: Scandic Builders patents Technologies For Underfloor Fluid Conduction
Recent Federal Contracts for Residential Remodelers- Mar 29, 2024: MISCELLANEOUS FOREIGN AWARDEES (Washington, DC) awarded $10,459
- Mar 27, 2024: MELTON MICHAEL C (Columbia, TN) awarded $154,000
- Mar 20, 2024: FOREIGN AWARDEES (UNDISCLOSED) (Washington, DC) awarded $10,896
- Mar 19, 2024: LK TECH CO., LTD. (Gunsan-si, JEONBUK) awarded $140,552
- Mar 12, 2024: FROST ENGINEERING CC (Windhoek, KHOMAS) awarded $14,260
- Mar 12, 2024: PT. SURYA KUSUMA (Jakarta, ) awarded $29,053
- Mar 29, 2024: MISCELLANEOUS FOREIGN AWARDEES (Washington, DC) awarded $10,459
- Mar 27, 2024: MELTON MICHAEL C (Columbia, TN) awarded $154,000
- Mar 20, 2024: FOREIGN AWARDEES (UNDISCLOSED) (Washington, DC) awarded $10,896
- Mar 19, 2024: LK TECH CO., LTD. (Gunsan-si, JEONBUK) awarded $140,552
- Mar 12, 2024: FROST ENGINEERING CC (Windhoek, KHOMAS) awarded $14,260
- Mar 12, 2024: PT. SURYA KUSUMA (Jakarta, ) awarded $29,053
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