Find stats on top websites
Industry Landscape
The U.S. residential home improvement market is experiencing steady growth, driven by aging housing stock, rising home equity, and a continued focus on energy efficiency and aesthetic upgrades. Despite potential economic headwinds, homeowner investment in repairs and renovations remains robust, particularly for projects that enhance property value and long-term comfort. Supply chain stability and labor availability are key factors influencing project timelines and costs.
Total Assets Under Management (AUM)
Residential Remodeling Market Size in United States
~Approximately $487 billion in 2023
(3.5% CAGR)
- Driven by aging homes.
- Increased homeowner equity.
- Focus on energy efficiency and comfort upgrades.
Total Addressable Market
Approximately $487 billion
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Augmented Reality (AR) for Home Design
AR allows homeowners to visualize window and door styles in their own homes virtually before purchase, enhancing the customization and decision-making process.
Smart Windows and Doors
Integration of sensors and smart home technology into windows and doors for automated climate control, enhanced security, and remote monitoring.
Advanced Manufacturing (e.g., 3D Printing)
3D printing and other advanced manufacturing techniques could enable even more customized and complex window and door components, reducing waste and lead times.
Impactful Policy Frameworks
Inflation Reduction Act of 2022 (IRA) - Energy Efficient Home Improvement Credit
The IRA extended and modified tax credits for energy-efficient home improvements, offering homeowners up to 30% of project costs (with annual limits) for qualifying upgrades like energy-efficient windows and doors.
This policy directly incentivizes homeowners to invest in energy-efficient products, potentially increasing demand for Renewal by Andersen's High-Performance™ Low-E4® Glass and Fibrex® solutions.
Pennsylvania Building Energy Codes (2018 IECC Adoption)
Pennsylvania largely adopted the 2018 International Energy Conservation Code (IECC), setting stricter energy efficiency standards for new construction and major renovations, including requirements for window U-factors and Solar Heat Gain Coefficient (SHGC).
These updated building codes reinforce the market's need for high-performance windows and doors, aligning with Renewal by Andersen's emphasis on energy efficiency.
Lead-Based Paint Renovation, Repair, and Painting (RRP) Rule (2008, updated)
The EPA's RRP Rule requires firms performing renovation, repair, and painting projects that disturb lead-based paint in homes, child care facilities, and schools built before 1978 to be certified and follow lead-safe work practices.
This rule adds compliance requirements and costs for window and door replacement projects in older homes, which Renewal by Andersen must adhere to, potentially impacting project timelines and pricing for affected properties.
Transform Your Ideas into Action in Minutes with WaxWing
Sign up now and unleash the power of AI for your business growth
