EVANSTON, Ill.–Qualified Remodeler, the leading media outlet for residential remodelers and home improvement firms, recently released its 43rd annual TOP 500 list of the industry’s largest companies. As a group, the QR TOP 500 tallied $14 billion in sales on 1.13 million jobs, a big increase over the prior year when they posted $11.4 billion in revenue on 1.12 million jobs. For the current year the group is on record pace with projections to grow to $16.7 billion in 2021.
The rapid growth of top remodelers and home improvement companies is a result of strong market demand and increased investment, said Patrick O’Toole, co-owner of SOLA Group Inc., which publishes Qualified Remodeler and two other residential design and construction media brands.
“In 2020, large remodelers reported a big surge in activity due to a spike in home-improvement spending by their clients. The increased demand is a direct result of COVID-19 stay-at-home measures,” said O’Toole. “Additionally, outside investment in the industry is way up. Private equity firms and other investors, attracted by solid returns, have helped top firms grow via acquisition. There’s also been investments in territory expansions by big firms that are opening locations in neighboring cities and states.”
Recent estimates of the size of the remodeling and home improvement markets have exceeded $400 billion annually. The TOP 500 is comprised of five primary sub-verticals—home improvement or replacement firms, design/build firms, full-service general contractors, kitchen and bath remodelers and insurance restoration companies.
Segment-by-segment analysis of the list shows that while all segments grew, the fastest growth was among specialty home improvement firms who focus on a range of replacement products like windows, roofing, siding, decking and bath enclosures, among others. Large full-service and design/build firms are expecting to see their best years in 2021. They are reporting an increase in large, discretionary projects.
Qualified Remodeler is owned by SOLA Group Inc., a business-to-business media company focused on residential design and construction. SOLA also publishes Kitchen & Bath Design News and Residential Design magazines a business-to-business media company focused on residential design and construction. To learn more about Qualified Remodeler, go to www.QualifiedRemodeler.com or www.SolaBrands.com.
Courtesy of -(BUSINESS WIRE)-