According to the latest research report titled “Outdoor Shed Market Forecast to 2028 - COVID-19 Impact and Global Analysis,” the market is expected to reach US$ 9,615.28 million by 2028, registering a CAGR of 5.5% during 2021-2028.
Popularity of Gardening and Consumers’ Penchant for Maintaining Lawns to Drive Market During Forecast Period
With the increase in population, the construction of residential houses is increasing. With this growth, the gardening activities are also rising. For keeping gardening tools, such as lawnmower, outdoor sheds are needed. For instance, the Garden Shed Company mentioned that there has been an increase in the number of orders for sheds and shed equipment in the UK. Also, in October 2020, the Timber Trade Federation reported that the imports of softwood were 34% higher than a year earlier. With stocks running low, whatever wood is available is quickly snapped up, according to The Economist Newspaper Limited 2021.
In North America, people maintain their lawns because the lawn is considered as an important factor in relation to their status within the community. Lawns connect neighbors and neighbourhoods. They are viewed as an indicator of socio-economic character, which translates into propertyo and resale values. A well-maintained lawn is a sign that its owner has time and/or money to support this attraction. Therefore, for maintaining lawns, people keep gardening equipment and tools. They need a storage area to store these equipment and tools. Thus, the outdoor shed market is anticipated to witness the growth in coming years.
With growing industrialization across the world, there is a continuous need of storage area for storing all equipment, tools, and raw materials at a single place. Therefore, the demand for outdoor sheds is growing in industries. Steel metal is the most preferred material for building outdoor industrial sheds owing to its properties such as tough nature and sturdiness. As it is considered as a strongest metal-based material, things made from steel last for a very long period. Additionally, steel-metal sheds do not rot or get destroyed by pests, accelerating its usage. Further, these sheds require less maintenance than wooden outdoor sheds. It is also much easier to clean steel sheds with a pressure washer or hose water. Moreover, the sheds can withstand extreme temperatures. When required, metal sheds are easier to transport as they are comparatively lighter than the wood sheds. A few manufacturers who provide metal outdoor sheds are Aussie Outdoor, Eo Pack Polymers Private Limited, and Bharathi Steel Building Solutions. Owing to various benefits of metal sheds, their demand from various end-use industries is rising, which is propelling the market growth.
Increase in adoption of smartphones and high penetration of internet are bolstering the adoption of e-commerce across the world. Nowadays, products are easily accessible, with only a tap away. This has also influenced the outdoor shed businesses to adopt online selling channels to expand their respective customer bases. Raw materials and other equipment required to construct outdoor sheds are often bulky. Therefore, in conventional purchase, it is difficult to carry everything from store to home. On the other hand, in online purchases, these materials and tools are delivered at the doorstep. Also, with the help of e-commerce, a consumer compares the material quality and significant price among various options. Furthermore, the ongoing COVID-19 pandemic crisis is compelling consumers to stay indoors. With the do-itoyourself (DIY) concept, people are developing the outer area of their houses by themselves in the pandemic. As a result, the use of online shopping for both essential and nonessential goods, comprising outdoor shed materials, is increasing amid pandemic.
Key Findings of the Study:
The global outdoor shed market is segmented into five major regions-North America, Europe, APAC, MEA, and SAM. APAC led the global outdoor shed market, followed by North America and Europe. In coming years, the market in Asia would witness a massive growth in the demand for outdoor sheds due to the rise in population of countries in the region, coupled with various government initiatives to attract private investments in construction and infrastructure development. Moreover, the surging number of commercial and industrial end users is inclined to use outdoor storage sheds, owing to their benefits such as low cost and higher utility than cemented buildings.
Reasons to Buy- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Outdoor Shed market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the global Outdoor Shed market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- DuraMax
- Handy Home Products
- Keter
- Lifetime Products
- PM Impex Pvt. Ltd.
- Rubbermaid
- ShelterLogic
- Suncast
- Tuff Shed
- Pressmach Infrastructure Private Limited
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 142 |
| Published | June 2021 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value ( USD | $ 6590.6 Million |
| Forecasted Market Value ( USD | $ 9615.28 Million |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
