$44.1bn
$X.Xbn
88,016
45,691
$X.Xbn
Commercial remodelers have expanded modestly over the past five years. Even amid interest rate hikes, pent-up demand for construction led to massive growth in 2022. Still, declines in office building construction have subdued growth. Industry-wide revenue has been growing at a CAGR of 0.1% over the past five years and is expected to total $44.1 billion in 2024 when revenue will drop by an estimated 1.2%.
Industry revenue has grown at a CAGR of 0.1 % over the past five years, to reach an estimated $44.1bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Belfor Usa Group Inc. | 2,718.8 | 143.2 | 5.3 | |
Dki Ventures, Llc | 525.6 | 13.1 | 2.5 |
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Industry revenue is measured across several distinct product and services lines, including Interior additions and alterations, Exterior additions and alterations and Systems and equipment. Interior additions and alterations is the largest segment of the Commercial Property Remodeling in the US.
The essential nature of exterior additions and alterations drives growth
This industry primarily undertakes remodeling construction for commercial buildings. Remodeling work includes additions, alterations, reconstruction, maintenance and repair work. The sector comprises general contractors, operative remodelers, remodeling design-build companies and project construction management firms.
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NAICS 23622 - Commercial Property Remodeling in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Remodelers have seen modest growth amid economic challenges. Despite interest rate hikes, various markets, such as retail buildings and warehouses, have led to growth.
Learn about an industry's products and services, markets and trends in international trade.
Supply chain issues and growth in e-commerce boosted remodeling investments. They drove warehouse remodels to enhance operations and mitigate disruptions.
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
The Southeast's high population draws remodelers. Numerous metropolitan areas in the region make it an enticing hub for these specialists to set up their businesses.
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
In commercial remodeling, competition is fierce. Remodelers vie on varied fronts like project quality, speed, technological skill, prestige and cost, all of which distinguish...
Learn about the performance of the top companies in the industry.
No company has gained more than 5.0% of the market. US demand is so scattered that it's hard for one company to gain a significant share.
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Commercial property remodelers get public and private help. Tax credits aid eco-friendly projects, while associations provide training and certification programs.
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Increased competition for business stunted profit growth. The uptick in interest rates has hiked price-based competition among commercial remodelers, forcing them to underbid...
Including values and annual change:
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Key data sources in the US include:
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These sources include:
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The market size of the Commercial Property Remodeling in the US industry in United States is $44.1bn in 2024.
There are 45,691 businesses in the Commercial Property Remodeling in the US industry in United States, which has grown at a CAGR of 1.6 % between 2019 and 2024.
The market size of the Commercial Property Remodeling in the US industry in United States has been growing at a CAGR of 0.1 % between 2019 and 2024.
Over the next five years, the Commercial Property Remodeling in the US industry in United States is expected to grow.
The biggest companies operating in the Commercial Property Remodeling market in United States are Belfor Usa Group Inc. and Dki Ventures, Llc
Additions, alterations and renovations of commercial property (e.g. office building, hotel and retail store) and Construction management for commercial property remodeling are part of the Commercial Property Remodeling in the US industry.
The company holding the most market share in United States is Belfor Usa Group Inc..
The level of competition is high and steady in the Commercial Property Remodeling in the US industry in United States.