High Preference for Metal Outdoor Shed Drives Market Growth
According to our latest market study on "Europe & US Outdoor Shed Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type, Material Type, Application, and Size," the market is expected to grow from US$ 2,816.93 million in 2021 to US$ 3,868.74 million by 2028; it is expected to grow at a CAGR of 4.8% from 2022 to 2028.
Outdoor sheds are being widely used for storage purposes in residential, commercial, and industrial sectors worldwide. They can be prefabricated, which are ready to install with minimal assembling, or can be shipped to the owner in a disassembled state. The latter version requires additional assembly time. Various sizes and styles are available for outdoor sheds, and the customers can further customize the same depending on their choice. Outdoor sheds are often built with wood, metal, or plastic. Steel is the most preferred material for building outdoor industrial sheds owing to its properties, such as high durability and sturdiness. As it is considered the strongest metal-based viable material, steel-based outdoor sheds are witnessing high demand from users. Further, the use of steel sheds has increased as they are resistant to rotting or o do not get destroyed by pests, unlike wooden ones. Thus, these sheds require lesser maintenance compared to wooden sheds. Such advantages are boosting the Europe & US outdoor shed market growth.
Increasing gardening and agricultural activities are expected to boost the demand for outdoor sheds in the US. US citizens are increasingly installing outdoor sheds in their backyards to build temporary workstations. It allows them to work without interference while freeing up space inside the house. Increasing disposable income has also aided such trends. These sheds can serve multiple purposes such as storage of tools, vehicle garage, studio for artwork, and woodworking. Woodworking is common in the country, as people tend to build small furniture as a hobby. Such practices also aided the growth of the outdoor shed market in the US.
Biohort GmbH; Keter Group; Keops Interlok Log Cabins; Estonian Log Cabins LLC; Eurovudas Ltd.; Lifetime Products, Inc.; Palmako AS; Steeltech Sheds; Tiger Sheds; and Yardmaster International are a few of the key Europe & US outdoor market players profiled during this study. Several other important market players were studied and analyzed during this market study to get a holistic view of the market and its ecosystem.
Impact of COVID-19 Pandemic on Europe & US Outdoor Shed Market
The COVID-19 pandemic created acute disruptions across many European nations and the US. Severe travel restrictions were imposed across several countries. Such disruptions hampered the supply chain, which adversely affected the manufacturing of outdoor sheds. Further, imposed travel restrictions led to a lack of workforce and temporary halts in raw material supply. Such factors negatively impacted the Europe & US outdoor shed market growth in the first three quarters of 2020. However, the pandemic promoted work-from-home (WFH) trends as enterprises started to adapt to the changing business scenario. This created space constraints at home for office goers, as they had to setup temporary offices at home. Outdoor sheds were being utilized to setup temporary offices at home to avoid such limitations. This factor positively impacted the Europe & US outdoor shed market growth in the residential sector. Moreover, there was a rise in gardening activities, and outdoor sheds were required for storing the tools. Such trends negated the untoward impacts of the COVID-19 pandemic on the Europe & US outdoor shed market.
The report segments the Europe & US outdoor shed market as follows:
The Europe & US outdoor shed market is segmented into type, material type, application, size, and geography. Based on type, the market is segmented into garden sheds, lean-to sheds, insulated sheds, garage sheds, and others. Based on material type, the market is categorized into wood sheds, metal sheds, and plastic sheds. Based on application, the market is segmented into residential, commercial, and industrial. Based on size, the market is segmented into less than 5m2, 5m2 – 7m2, 7m2 – 10m2, and above 10m2. By Geography, the market is bifurcated into Europe and US.
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