Global House Painting Services Market Is Expected to Reach US$ 29.6 billion by 2033: Fact.MR Research

The report by Fact.MR comprises insights regarding recent market trends, driving & challenging factors, market taxonomy, and future estimations of the global house painting services market.

Rockville, Feb. 07, 2023 (GLOBE NEWSWIRE) -- The global house painting services market is expected to be valued at US$ 17.8 billion in 2023 and rise at a CAGR of 5.2% during the forecast period of 2023 to 2033.

Significant rise in residential construction worldwide and growing consumer focus on home improvement are major factors driving to the demand for house painting services. House painting professionals offer various suggestions regarding suitable colors for the walls and work towards enhancing the aesthetic value of the house. They offer an attractive interior and exterior look to the house along with prevention from mold, insects, and moisture.

The market is projected to expand positively with the integration of advanced tools such as IoT and 3D visual solutions that can offer pre-insights about the look of a house look in particular shades. These tools will bring precision to the house painting and result in cost- and time-effectiveness for clients.

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Key Takeaways from Market Study

  • During the historic period (2018-2022), the CAGR of house painting services market was 3.8%.
  • The market is projected to expand at a CAGR of 5.2% during the forecast period (2023-2033).
  • Among the regions, East Asia is expected to hold a leading share and be the fastest-growing market for house painting services.
  • By application, house redecoration accounts for 58% of the global house painting services market.

“Integration of advanced technology will significantly drive overall market growth during the forecast period,” says a Fact.MR analyst.

Segmentation of House Painting Services Industry Research

  • By Service Type :
    • Interior House Painting
    • Exterior House Painting
  • By Application :
    • New Homes
    • House Redecoration
  • By Region :
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Oceania
    • Middle East & Africa

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Market Development

The market is highly competitive with the presence of a large number of local players offering house painting services. However, the market is expected to see substantial expansion with the emergence of new market players and strategic moves by them. Introduction of new branches and acquisition of other businesses are some initiatives that have been observed in the global market.

For instance,

  • In January 2022, Authority Brands, a leading home service provider, acquired Color World Housepainting based in the United States, specialized in providing exterior and interior painting services for both the commercial & residential sectors. The acquisition is aimed at expanding the company’s footprint and service portfolio in the United States.
  • In March 2020, 3rd Gen Painters Downers Grove, a Chicago-based painting service provider, expanded its business by introducing its 5th branch in DuPage County, Chicago.

Key Companies Profiled

  • Five Star Painting
  • Canadian Pro Painting
  • JXF Painting Service
  • Home Painters Toronto
  • Royal Home Painters Inc.
  • 360 Painters
  • Perfect Painters & More
  • Wall Alive Painting Group
  • EF Painting Services Corp
  • Gold Star Painting
  • AGM Renovations
  • Asian Paints
  • Sunshine Home Painting Services
  • Berger paints
  • Nippon
  • Gush Paints

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global house painting services market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.

The study reveals essential insights on the basis of service type (interior house painting, exterior house painting) and application (new homes, house redecoration), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).

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