The outdoor shed market size is projected to reach US$ 12,587.34 million by 2031 from US$ 7,258.84 million in 2023. The market is expected to register a CAGR of 7.1% during 2023–2031. The application of mercury and air toxics standards is likely to remain a key trend in the market.
The increasing demand of gardening and lawns and continuing active lifestyles (bicycling, garden equipment, camping equipment, and others) require a place to store this equipment, and with the DIY (do it yourself) concept, most the consumer across the globe are establioshing outdoor sheds by themselves with the help of e-commerce for getting the raw materials. The development in the construction of residential and commercial buildings is estimated to provide growth opportunities to the market globally.
The key stakeholders in the global outdoor shed market ecosystem include raw materials, outdoor shed manufacturers, and end-users. The outdoor shed manufacturing market players procure raw materials such as metals, wood, and plastic from various suppliers across the globe. These suppliers continuously optimize their production lines and lead times to enhance their respective supply chains. Outdoor shed manufacturers are witnessing significant demand for their products owing to the rising demand in multiple fields, including an increase in the number of factories, increasing popularity of gardening & consumers’ penchant for maintaining their lawns, and continuing active lifestyles from the past few years across the globe.
Higher disposable incomes of individuals, owing to economic prosperity, have been a major factor driving the outdoor shed market in the residential sector. With the improving standard of living, the spending on home infrastructure is increasing. This, in turn, is increasing the demand for outdoor sheds globally. Consumers are now more focused on obtaining outdoor shed materials and equipment from online retailers, which is steering the growth of the outdoor shed market at the global level. Increasing shopping convenience and availability of more options are acting as a major growth propeller for the market of outdoor shed.
The growing consumer preference for outdoor gardening and inclination towards maintaining laws are some of the prime drivers for the market of outdoor sheds. The increasing urbanization would be a result of higher disposable income, which would further enable the building of residential houses with lawns and would lead to the growth of the outdoor shed market globally. The rising consumer spending on outdoor infrastructure is likely to boost the demand for outdoor sheds globally.
Key segments that contributed to the derivation of the Outdoor Shed market analysis are type and application.
The geographic scope of the outdoor shed market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
Asia Pacific is leading the market. Governments of nations such as India and Indonesia actively provide subsidies on land and construction costs. This initiative is positively impacting the overall growth of industrialization in these countries and leading to the rise in demand for outdoor sheds. China and India as the world’s leading growing economies. Moreover, the Socio-Economic Development Plan (SEDP) has supported the country’s construction industry growth, which is acting as a major driver for the market. The governments in the Middle East & Africa are taking various initiatives to grow investment in manufacturing and construction sectors. South America consists of developing economies such as Brazil, Argentina, and Chile that attract investors for long-term investments. Thus, with the growing industrialization, the number of outdoor sheds in the factories is also increasing. The population of North American countries such as the US and Canada enjoys a high standard of living. The spending capacity of the people in these developed countries is also increasing due to the high per capita income. With active lifestyles (bicycling, skis, camping equipment, and others), people need to have a space to store such equipment. Therefore, the demand for outdoor sheds is increasing.
The outdoor shed market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the outdoor shed market are listed below:
The “Outdoor Shed Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
Asia Pacific dominated the outdoor shed market in 2023.
The increasing development in the construction sector is the future trend of the outdoor shed market.
Harwal Group of Companies, Marco Wood Products Inc., Keter, Lifetime Products, PM Impex Pvt. Ltd., Rubbermaid, ShelterLogic, Suncast, Tuff Shed, and Pressmach Infrastructure Private Limited. are some of the leading players in the market.
US$ 12,587.34 million estimated value of the outdoor shed market by 2031.
7.1% is the expected CAGR of the outdoor shed market.