North America Outdoor Shed Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Wood Sheds, Metal Sheds, and Plastic Sheds) and Application (Residential, Commercial, and Industrial)

Metal Sheds Segment to Dominate North America Outdoor Shed Market During 2021-2028

According to a new market research study on “North America Outdoor Shed Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by Type and Application” is expected to reach US$ 2,511.03 million by 2028 from US$ 1,783.37 million in 2021. The market is estimated to grow at a CAGR of 5% from 2021 to 2028. The report provides trends prevailing in the North America outdoor shed market along with the drivers and restraints pertaining to the market growth. Growing preference for metal outdoor sheds and rising online purchases of outdoor shed equipment and materials are the major factor driving the growth of the North America outdoor shed market. However, high raw material cost hinders the growth of North America outdoor shed market.

In case of COVID-19, North America is among the worst-hit regions by the pandemic. The US, Canada, and Mexico have witnessed a significant rise in the number of COVID-19 infected patients. COVID-19 has negatively impacted manufacturing businesses in the region in four critical areas - supply chain/operations, workforce, 2020 investments, and product offering. In the first nine months, overhead costs, including expenses for sales, research & development (R&D), and administration of various providers fell adversely, due to severe measures taken during the pandemic. North American manufacturers of outdoor sheds suffered a significant loss in the first half of 2020, owing to the high number of COVID-19 cases, specifically in the US. Thus, the constant demand for outdoor sheds witnessed a slight decrease in 2020, owing to the lockdown imposed by the government and low manufacturing of sheds. This has hindered the growth of the outdoor shed market last year, which is likely to continue slightly during 2021. The major loss was seen in commercial and industrial applications; however, in the residential sector, the demand is being sustained due to the penetration of online marketing. As residents are forced to remain indoors, recreational activities such as gardening are surging. This has escalated the demand for new gardening equipment and discarding of old ones. Moreover, to store the obsolete material, people are investing in making more outdoor sheds. Thus, people are purchasing all the equipment online. Therefore, this factor is driving the North America outdoor shed market.

The North America outdoor shed market is segmented into the type, application, and country. Based on type, the market is segmented into wood sheds, metal sheds, and plastic sheds. The metal sheds segment held the largest market share in 2020 owing to high demand of industrial and commercial sheds from region. In terms of growth rate, plastic sheds are the expected to be the fastest growing segment over the forecast period of 2021 to 2028. Based on application, the market is segmented into residential, commercial, and industrial. In 2020, the commercial segment held the largest revenue share of the North America outdoor shed market and same segment is expected to be fastest growing during forecast period. Based on country, the market is segmented into the US, Canada, and Mexico.

DuraMax, Handy Home Products, Keter, Lifetime Products, Rubbermaid, ShelterLogic, Suncast, and Tuff Shed are among the leading companies in the North America outdoor shed market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019, ShelterLogic Group’s ShelterTech brand teamed up with Graveyard Carz to build one of the largest ShelterTech buildings to date with dimensions 30 ft. wide, 15 ft. high, and 120 ft. long.

Reasons to buy:

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• Scrutinize in-depth North America market trends and outlook coupled with the factors driving the outdoor shed market, as well as those hindering it
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