Published Date: 2021-03-04
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APAC Remodeling Market size is projected to reach USD 1,604 billion by 2026, according to a latest forecast report by Graphical Research. The growth of the industry is underpinned by the rising necessity for energy-efficient structures and the integration of the internet of things (IoT) into the construction industry.
Asia Pacific is significantly contributing to the overall size of the global construction industry. The increasing number of aging infrastructures in the region is playing a critical part in the growth of the remodeling market. The strong evolution of the industry in the region is due to some key factors, including the developing economy, increasing population, and growing energy demand. To limit the usage of energy in the buildings, the actions that are preferred to consist of thermal barriers for walls, roofs, and floors. This method is widely practiced in both commercial and residential places. Additionally, government initiatives to promote the usage of renewable energy and the rising adoption of energy-saving approaches are further fueling the market growth.
Moreover, the increasing implementation of modern technologies in construction is offering the sector transformative opportunities. Technologies, including building, information modeling, smart materials, internet of things (IoT), and other collaborative platforms are creating lucrative opportunities for the market expansion.
Browse detailed statistical insights from the report, “Asia Pacific Remodeling Market Size By End-use (Commercial [Retail space renovation, Office space renovation, Hotel remodeling, Snow removal, Restaurant renovation & remodeling], Residential [Exterior addition and alterations {Garden, Porch, and garage}, Interior addition & alterations {Bath, Kitchen, Other room}, Others {Disaster Repair, System & equipment, Property improvement}]), Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2020 – 2026” along with the table of contents (ToC) @
https://www.graphicalresearch.com/industry-insights/1674/asia-pacific-remodeling-market
However, restrictions imposed by the government to contain the contagious virus significantly affected the movement of goods and disrupted the regional supply chain, followed by a halt on large number of construction projects. This, in turn, flatlined the revenue growth of manufacturers and other industry players in the first two quarters of 2020. But, with the revival of China’s economy - the major raw material supplier in the Asia Pacific region, the industry is estimated to recover and attain its previous growth track in the approaching years.
Based on end-users, the residential segment is set to observe the highest growth rate during the forecast timeframe owing to the strong demand for aesthetically appealing interiors and exteriors designs for residential buildings. The implementation of modern technologies and the augment of new tech companies in the construction remodeling sector will further stimulate the market demand.
Key manufacturers operating in the market consist of Sumitomo Mitsui Construction Co., Ltd., Hometyme.in, Housejoy, Indian Mason, International Construction Co., Toymoku Corporation, Tokyu Construction, Donnellan Constructions, Aghapy Constructions Pty Ltd, Easy Reno, and Renofix Building Group.
The APAC remodeling market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2015 to 2026 for the following segments:
Asia Pacific Market, By End-use
The above information has been provided for the following countries:
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