U.S. Home Improvement Size of Market Report
Thursday, July 21, 2016
Posted by: Pam Heidel
The U.S. Size of Market Report is an in-depth study of the home improvement products market’s consumer and professional segments. The report, released to HIRI members in March 2016, contains:
· Updated estimates for the U.S. and nine Census regions through 2015
· Revised forecasts of the U.S. market through 2020 based on the most recent IHS Economics forecast of the U.S. economy
U.S. size of market estimates are updated twice per year and are augmented with two interim updates on key market drivers. Estimates include history dating to 1992. Historical data and forecasts are provided for the nine Census divisions, and the consumer market is separated into 21 distinct product categories.
· The pace of growth of home improvement products sales is expected to increase by 4.7 percent in 2016, reaching $333.5 billion in sales. Growth for the forecast period is expected to increase by an average of 4.3 percent per year.
· Although all U.S. Census divisions saw growth in 2015, the Western and East South Central divisions experienced the largest growth.
The 113-page report includes a national economic outlook, home improvement products forecasts for the consumer and professional remodeler markets, a comparison of home improvement products to materials used in new construction, and risks to the forecast.
IHS Economics, a global leader in economic analysis and forecasting, prepares the U.S. Size of Market Report annually for HIRI.
Join HIRI now to gain immediate access to this study and all current and historical research. The U.S. Size of Market Report will be available for purchase to the public in September 2016. Nonmembers can also buy the previously published report.