In the United States, there are many companies involved in remodeling bloomington il and construction. These firms perform projects ranging from small commercial remodeling projects to commercial build-outs, and from hospitals to landmarks. These companies are required to be experienced and skilled in their work. There are several types of remodeling firms, including general contractors, operative remodelers, and remodeling design-build companies.
This Segment Is Booming, With A High Percentage Of The Industry’s Revenue Coming From This Segment.
Homeowners in the US spend more than $260 billion on home improvement each year, and a significant portion of this money goes toward hiring professional contractors. Over the last two decades, the percentage of home improvement spending spent by homeowners on professional contractors has grown steadily. Twenty years ago, that percentage was just over 75 percent; by 2019, it jumped to almost 83 percent. Although this percentage is higher than before the recession, do-it-yourself activity increased during the Great Recession.
While the industry is still highly fragmented, it has undergone a shift toward specialization. Specifically, exterior replacements, which include roofing, siding, windows, doors, and other exterior components, now account for 20 percent of all homeowner spending. This segment is booming, with a high percentage of the industry’s revenue coming from this segment.
In the US, there are around 493,728 remodeling companies. This represents an increase of 3.8% over 2021. Remodeling companies can work on residential or commercial projects. Residential remodelers are also known as home improvement contractors.
