Europe & US Outdoor Shed Market to Grow at a CAGR of 4.8% to reach US$ 3,868.74 million Million from 2022 to 2028

The Europe & US outdoor shed market is expected to grow from US$ 2,816.93 million in 2021 to US$ 3,868.74 million by 2028; it is estimated to grow at a CAGR of 4.8% from 2022 to 2028.

Outdoor sheds are structures that are constructed on the outside of a home for additional storage requirements. They can be built easily and can enhance a space significantly. Outdoor sheds for storage of gardening tools are common in Europe, while sheds for woodworking are gaining popularity in the US. Wood, metal, and plastic are the most common materials used for constructing outdoor sheds. Steel-based outdoor sheds are gaining popularity in residential, commercial, and industrial sectors owing to higher durability and sturdiness. Aluminum sheds are also being used regularly due to their lightweight and corrosion resistance. Metal-based outdoor sheds are more expensive than other sheds, but they offer several advantages such as higher sturdiness, lower maintenance cost, and heightened longevity. Such advantages are boosting the adoption of metal-based outdoor sheds, which is promoting the Europe & US outdoor shed market growth.

Impact of COVID-19 Pandemic on Europe & US Outdoor Shed Market

According to data provided by Eurostat, EU’s statistical service provider, the COVID-19 pandemic-related restrictions and norms reduced household consumption by 8% across Europe. The reduction was higher in countries that imposed severe lockdowns. The confinement of household budgets to essential goods, reduction in disposable incomes due to layoffs and salary cuts, and uncertainties related to the pandemic temporarily reduced the demand for outdoor sheds in the first three quarters of 2020. However, the pandemic also promoted the work-from-home (WFH) trend and increased the adoption of gardening as a hobby. WFH required the employees to setup home offices. However, space constraints and distractions from family members or pets hindered productivity. Hence, people started installing outdoor sheds for setting up temporary home offices. Such sheds aided in bypassing distractions while also solving the problem of space constraints. This positively impacted the Europe & US outdoor shed market growth. Moreover, as people were forced to stay indoors for additional time, gardening allowed them to spend time in the backyard and close to nature. This increased the popularity of outdoor gardening, which raised the requirement for tool storage. Hence, gardening sheds were increasingly utilized, which promoted the Europe & US outdoor shed market growth. Thus, despite the negative impacts of the pandemic during the first three quarters of 2020, the Europe & US outdoor shed market size increased considerably since Q4 of 2020.

Market Insight - Europe & US Outdoor Shed Market

The Europe & US outdoor shed market experienced several new trends from 2021 to 2022. The increasing disposable income of people in developed economies such as the US, Germany, the UK, and France enriched their purchasing power. People were willing to pay more for lifestyle products and household renovation. This has augmented the demand for outdoor sheds. Further, the rising standard of living has boosted the need for outdoor sheds in houses and offices.

Physical activity is an essential practice that aims to seriously address the problems of sedentary living and obesity among children and adults. Active living contributes to an individual's and community's physical and mental well-being. Physical activities are not limited to sports or organized recreation activities nowadays. The US citizens mainly focus on active lifestyles to stay healthy. The increasing active lifestyle of people that comprises various physical activities such as bicycling, camping, and skiing will need extra space to store activity equipment outside the residential area. This offered lucrative growth opportunities for the Europe & US outdoor shed market players.

Type-Based Segment Insights

Based on type, the Europe & US outdoor shed market is segmented into garden sheds, lean-to sheds, insulated sheds, garage sheds, and others. In 2021, the garage sheds segment held the largest share of the market. However, the garden sheds segment is anticipated to grow at the highest CAGR during the forecast period. A garden shed provides a dedicated room to keep lawn-care kits and supplies that are different from the isolated clutter in most garages. It provides a pleasing space for propagating cuttings, puttering & potting, starting seeds, and separating plants.

Material Type-Based Segment Insights

Based on material type, the Europe & US outdoor shed market is segmented into wood sheds, metal sheds, and plastic sheds. Owing to the higher price point and advantages such as durability and longevity, the metal sheds segment led the Europe & US outdoor shed market. However, the plastic sheds segment is expected to grow at the highest CAGR by 2028.

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Europe & US Outdoor Shed Market: Strategic Insights

Europe & US Outdoor Shed Market

• Market Size 2021
  US$ 2,816.93 Million
• Market Size 2028
  US$ 3,868.74 Million

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Regional Overview

• Europe

Market Segmentation

Type

• Garden Sheds
• Lean-To Sheds
• Insulated Sheds
• Garage Sheds

Material Type

• Wood Sheds
• Metal Sheds
• Plastic Sheds

Application

• Residential
• Commercial
• Industrial

Size

• Less than 5M2
• 5M2 - 7M2
• 7M2 - 10M2
• Above 10M2

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The Europe & US outdoor shed market players are focused on promoting their products through advertisements and competing by enhancing marketing strategies. In early 2022, Chief Productions, a UK-based company, and Flipbook unveiled a new TV ad campaign for Tiger Shed. The advertisements, which were planned to run through June 2022, were designed to capture customers' need for extra space in their homes and gardens by depicting a typical family going about their daily lives while also looking for an outdoor structure to serve as their home office and storage space.

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.

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 major Europe & US outdoor shed market players.

Europe & US Outdoor Shed Market Report Scope