With decreasing office rental vacancy, commercial property remodeling is on the rise following a period of hardship during the recession. More new businesses are opening and many existing businesses are expanding, which is creating a growing need for the industry's commercial building addition, alteration and renovation services. In the five years to 2019, the industry is forecast to exhibit more steady growth as the office rental vacancy rate decreases and consumer spending and corporate profit increases.
This industry primarily remodels construction for commercial buildings. Remodeling construction includes additions, alterations, reconstruction, maintenance and repair work. This industry is composed of general contractors, operative remodelers, remodeling design-build companies and remodeling project construction management firms. This industry does not include residential remodeling.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.