Market share, size, share, regional analysis of the European restructuring by major players | Industry forecast up to 2026 – KSU
In terms of annual assessment, the size of the European remodeling market is projected to reach $ 1,702 billion by the end of 2026, driven by growing energy efficiency concerns in urban areas and the need to make buildings more sustainable.
The need to improve the energy efficiency of aging buildings is possibly one of the biggest trends for the expansion of the European remodeling market. Europe is a pioneer in the field of renewable and sustainable technologies. The government’s ongoing efforts to make buildings more energy efficient have resulted in numerous infrastructure renovation and refurbishment projects in recent years.
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With the robust digitization in recent years, the European construction sector is experiencing the widespread adoption of transformative technologies such as Internet of Things (IoT), BIM (Building Information Modeling) data, collaborative platforms and applications, as well as intelligent materials that can contribute to the existing To make infrastructure affordable, sustainable and energy efficient.
The trend towards aesthetic interiors has gained massive popularity in numerous European countries, and consumers are increasingly investing in solutions for living spaces. Given similar trends in the future, the European residential remodeling market is expected to grow at an annual rate of 3.4% through 2026.
The residential remodeling segment includes adding and modifying interiors, adding and modifying exteriors, and other areas such as disaster repair, property improvement, and system and equipment.
The interior fit-out and modification segment had a market share of more than 43% of sales in 2019 and is expected to grow significantly in the coming years. There is a wide variety of bespoke interior designs available in the market today. Home remodeling service providers use online websites and social media platforms for efficient marketing and customer loyalty. It is expected that a large number of European consumers will be looking for bespoke aesthetic interior solutions, especially bathroom and kitchen remodeling, in the near future.
In view of the regional landscape, it is expected that the German market for commercial conversions will show significant growth in the coming years. The regional economic sector is driven by the massive growth of the urban population. There are several large renovation service providers in Germany and new companies are constantly emerging, which will significantly strengthen the regional prospects.
The European remodeling industry is likely to face numerous challenges in the future. This includes excessive costs of redesigning solutions as they translate modern technologies into application. Additionally, the industry is still recovering from the impact of the global COVID-19 pandemic, which can present multiple hurdles, especially for emerging players.
The coronavirus public health emergency had resulted in a lack of raw material availability due to inefficiency in production and supply. After a major outbreak of the pandemic, the European construction sector suspended a number of large refurbishment projects that had a significant impact on its growth in the first quarter of 2020. However, in May production improved by almost 22% after an unprecedented decline, utilities resumed. Between September and October, construction output improved by around 1.2%.
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The recovery in the construction sector is expected to have a positive impact on the market outlook for remodeling in Europe and promising growth opportunities for industry players Dow Building Solutions, House Renovation London, Walker Construction Ltd., Sherwin-Williams Company and Vinci Construction offer other notable companies.
Table of contents (ToC) of the report:
Chapter 2 Summary
2.1 Snapshot of the market for the renovation in Europe
Chapter 3 Insights into the Transformation of European Industry
3.1 Industry coverage
3.2 Industry size and forecast, 2016-2026
3.3 Analysis of the industrial ecosystem
3.3.1 Supplier matrix
3.4 Future trends
3.4.1 Innovation landscape
3.5 Analysis of raw materials
3.6 Regulatory Standards and Guidelines
3.7 Driver and restraint systems
3.8 Application growth mapping
3.9 Industry analysis: Porter’s
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