Middle East and Africa 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)

Industrial Segment to Dominate the MEA Outdoor Shed Market in 2021-2028

According to a new market research study on “MEA Outdoor Shed Market to 2028 - COVID-19 Impact and Regional Analysis and Forecast by Type and Application” is expected to reach US$ 455.66 million by 2028 from US$ 352.46 million in 2021. The market is estimated to grow at a CAGR of 3.7% from 2021 to 2028. The report provides trends prevailing in the MEA outdoor shed market along with the drivers and restraints pertaining to the market growth. Growing popularity of gardening and consumers’ penchant for maintaining their lawns and burgeoning active lifestyles are the major factor driving the growth of the MEA outdoor shed market. However, rising raw material cost hinders the growth of MEA outdoor shed market.

In case of COVID-19, MEA is highly affected especially South Africa. The MEA comprises South Africa, the UAE, Saudi Arabia, and other countries. The Middle East & Africa region has a smaller number of companies that offer market-specific solutions. According to the Institute of Chartered Accountants in England and Wales (ICAEW), the Middle East economy is anticipated to witness a sharp slowdown in the first half of 2020, regardless of impetus packages as well as monetary rate cuts to relax the economic setback of the COVID-19 outbreak. Further, the Middle East economy is projected to notice a pickup in the second half of 2021, after both demand and supply-side disruptions disappear. In the Middle East & Africa, the requirement for outdoor sheds in commercial and industrial applications is more than the residential sector, owing to major use of outdoor sheds in industries. With the imposition of lockdown, the factories are unable to operate; therefore, there is a dip in the demand in 2020. However, as the lockdown restrictions have been lifted in 2021, the manufacturing and other industrial activities have started again. The number of factories is also growing in the region, leading to the requirements of outdoor sheds for the factories. Therefore, this factor will have a positive impact on the growth of the outdoor shed market in the region.

The MEA 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 industrial segment held the largest revenue share of the MEA outdoor shed market and commercial segment is expected to be fastest growing during forecast period. Based on country, the market is segmented into the UAE, Saudi Arabia, South Africa, and rest of MEA.

DuraMax, Keter, Lifetime Products, Rubbermaid, and Suncast are among the leading companies in the MEA 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 2021, UBQ Materials, developer of the most climate-positive thermoplastic material on the market, entered into a partnership with Keter Group, to incorporate UBQ™ into multiple product lines to achieve the sustainability goal of incorporating 55 percent recycled content in its product line by 2026.

Reasons to buy:

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the MEA 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 MEA 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 MEA market trends and outlook coupled with the factors driving the outdoor shed 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