Find stats on top websites
Industry Landscape
The US home improvement industry is robust, driven by aging housing stock, rising home values, and increased demand for energy efficiency and aesthetic upgrades. Despite potential economic fluctuations, the desire for comfort and value retention keeps the market active, with a growing focus on sustainable solutions and smart home integration. Digital engagement is increasingly critical for customer acquisition and service.
Total Assets Under Management (AUM)
Residential Remodeling Spending in United States
~Approximately $480 billion USD (2023 estimate)
(3.5% CAGR)
- Growth driven by homeowner equity and deferred maintenance.
- Demand for larger, more complex projects.
- Focus on improving home value and livability.
Total Addressable Market
480 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Augmented Reality (AR) for Design Visualization
AR allows homeowners to visualize home improvements like siding, roofing, and windows on their actual homes in real-time using a smartphone or tablet.
AI-Powered Project Management Software
AI-driven platforms can optimize scheduling, resource allocation, and communication for home improvement projects, improving efficiency and customer experience.
Advanced Material Science (e.g., Self-Healing Coatings)
New materials with self-healing properties or enhanced durability and insulation are emerging, offering longer-lasting and more energy-efficient solutions.
Impactful Policy Frameworks
Inflation Reduction Act (IRA) of 2022 - Energy Efficient Home Improvement Credit (25C)
The IRA extended and modified tax credits for energy-efficient home improvements, including highly efficient windows, doors, and insulation, offering homeowners up to 30% of project costs for certain upgrades, capped annually.
This policy directly incentivizes Western Products' customers to invest in energy-efficient products like Renewal by Andersen windows and insulated siding, potentially increasing demand for these high-value offerings.
Lead Renovation, Repair, and Painting (RRP) Rule (2008, updated)
This EPA rule requires lead-safe work practices for renovations, repairs, and painting projects that disturb lead-based paint in homes, child care facilities, and schools built before 1978.
Western Products must ensure its installers are lead-safe certified and follow specific protocols, potentially increasing project costs and complexity, especially for older homes prevalent in their service area.
State and Local Building Codes (e.g., Minnesota and North Dakota Energy Codes)
States like Minnesota and North Dakota regularly update their building codes to align with national standards like the International Energy Conservation Code (IECC), imposing stricter requirements for insulation, window U-factors, and air sealing in new construction and major renovations.
Western Products must ensure all installed products and installation practices meet or exceed current state-specific energy code requirements, driving demand for higher-performance materials and expert installation.
Transform Your Ideas into Action in Minutes with WaxWing
Sign up now and unleash the power of AI for your business growth
