TOP 500 List of Remodeling and Home Improvement Firms Details Fast-Growing Industry

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EVANSTON, In poor health. — Qualified Remodeler, the main media outlet for residential remodelers and residential enchancment corporations, lately launched its forty third annual TOP 500 list of the trade’s largest corporations. As a bunch, the QR TOP 500 tallied $14 billion in gross sales on 1.13 million jobs, a giant improve over the prior yr after they posted $11.4 billion in income on 1.12 million jobs. For the present yr the group is on file tempo with projections to develop to $16.7 billion in 2021.

The fast progress of prime remodelers and residential enchancment corporations is a results of robust market demand and elevated funding, mentioned Patrick O’Toole, co-owner of SOLA Group Inc., which publishes Certified Remodeler and two different residential design and development media manufacturers.

“In 2020, massive remodelers reported a giant surge in exercise as a result of a spike in home-improvement spending by their shoppers. The elevated demand is a direct results of COVID-19 stay-at-home measures,” mentioned O’Toole. “Moreover, exterior funding within the trade is approach up. Personal fairness corporations and different traders, attracted by strong returns, have helped prime corporations develop by way of acquisition. There’s additionally been investments in territory expansions by large corporations which might be opening areas in neighboring cities and states.”

Current estimates of the dimensions of the reworking and residential enchancment markets have exceeded $400 billion yearly. The TOP 500 is comprised of 5 major sub-verticals—house enchancment or alternative corporations, design/construct corporations, full-service normal contractors, kitchen and bathtub remodelers and insurance coverage restoration corporations.

Segment-by-segment analysis of the record reveals that whereas all segments grew, the quickest progress was amongst specialty house enchancment corporations who concentrate on a spread of alternative merchandise like home windows, roofing, siding, decking and bathtub enclosures, amongst others. Giant full-service and design/construct corporations expect to see their greatest years in 2021. They’re reporting a rise in massive, discretionary initiatives.

Certified Remodeler is owned by SOLA Group Inc., a business-to-business media firm targeted on residential design and development. SOLA additionally publishes Kitchen & Tub Design Information and Residential Design magazines a business-to-business media firm targeted on residential design and development. To study extra about Certified Remodeler, go to www.QualifiedRemodeler.com or www.SolaBrands.com.

To study extra about promoting with SOLA Group Inc., contact firm president Paul DeGrandis paul@solabrands.com or (847) 440-3000 x100.