Saudi Arabia’s home renovation market share
According to the latest market research survey released by P&S Intelligence, Saudi Arabia’s home renovation market reached 5.2% in 2024 and USD 16.6 billion by 2030, resulting from this surge and increased residents level. Saudi homeowners are increasingly investing in home renovations to enhance both the features and styles that are further supported by government initiatives focusing on affordable housing and urban regeneration.
Key factors for market growth
Urbanization is an important factor driving demand in the home remodeling sector in Saudi Arabia. The country’s urban and semi-economic areas have experienced a rapid influx of people from rural areas, leading to increased demand for new homes, as well as renovations to existing properties. As we move to urban centres such as Riyadh, the need for remodeling of services, especially as kitchens, bathrooms and living spaces escalates. Additionally, as disposable income rises, homeowners are looking for upgrades to luxury modern homes with premium materials such as granite, marble and top-quality hardwood.
The Saudi government’s efforts to promote affordable housing and sustainable development also play a crucial role in stimulating the market. For example, the partnership with the National Housing Company to build housing units in Jeddah highlights the long-term demand for home renovation services as newly built homes require upgrades to meet evolving homeowners’ preferences.
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Market segmentation and trends
The professional remodeling segment holds the largest market share in 2024, accounting for around 80%. This category is expected to continue its rapid growth with a 5.5% CAGR forecast from 2024 to 2030. Professional services are in high demand due to the need for professional skills and high quality results. In contrast, the DIY market has also gained traction, but remains small in comparison.
Regarding distribution channels, the online sector is growing faster at a CAGR of 5.6%, as e-commerce platforms offer convenience, competitive pricing and access to a wider range of products. However, offline distribution channels still hold a large share, especially for products that require in-person consultation or installation.
Important insights
Rapid urbanization and population growth: Saudi cities, especially Riyadh, have experienced significant urban growth that has driven both new construction and demand for remodeling of existing properties.
Luxurious and Modern Design: Homeowners are increasingly pursuing the demand for premium materials and technologies in renovations, including smart home features and energy-efficient appliances, and are increasingly craving modern, luxurious designs.
Increased demand for kitchen and bathroom renovations: These spaces have the highest growth rate in the market, with a CAGR of 5.8% predicted. Renovations in these areas focus on improving functionality and incorporating the latest design trends.
Regional Trends: Al Riyadh remains the largest market, accounting for 40% of the market share in 2024, driven by the region’s large population and rapid urban expansion. However, the eastern region is the fastest growing, driven by ongoing development projects.
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Market fragmentation: Despite the dominance of a small number of large players, the market remains fragmented, with many small local contractors and specialist companies competing for market share. This creates ample opportunities for new entrants and creates expansion within the sector.
Labor shortage: A key challenge to market growth is the shortage of skilled workers, such as carpenters, electricians, and plumbers. Although the demand for such professionals is growing, Saudi Arabia faces a lack of local talent and is heavily dependent on expatriates.
View related reports
Saudi Arabian Builder Builders and Carpenter Wood Market: https://www.psmarketresearch.com/market-analysis/saudi-arabia-builders-joinary-carpentry of wood-market
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