NEW
YORK, May 20, 2024 /PRNewswire/ -- The
global residential outdoor storage products
market size is estimated to grow by USD 327.56 mn from 2024-2028, according to
Technavio. The market is estimated to grow at a CAGR of
over 3.82% during the forecast period.
For more insights on the forecast market size and
historic data (2018 - 2022) - Download
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Product (Sheds, Decks,
and boxes), Distribution
Channel (Offline and Online), and Geography
(North America, Europe, APAC, Middle East and
Africa, and South America)
|
Region
Covered
|
North America, Europe,
APAC, Middle East and
Africa, and South America
|
Key companies
profiled
|
Absco Sheds, Backyard
Products LLC, Backyard
Storage Solutions, LLC, Barnyard Utility Buildings,
Better Homes and Gardens, Cedarshed USA,
Keter Home and Garden Products Ltd., Leisure
Season Ltd., Lifetime Products Inc., Lowes Co.
Inc., Newell Brands Inc., Palram Industries Ltd.,
SHARKCAGE Inc., ShelterLogic Group, Stilla
Group, Suncast Corp., The Home Depot Inc., The
Home Shoppe., Tuff Shed Inc., and Warner Bros
Discovery Inc.
|
Segment Overview
This residential outdoor storage products market report
extensively covers market segmentation by
- Product
- 1.1 Sheds
- 1.2 Decks
- 1.3 boxes
- Distribution Channel
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Sheds- The residential outdoor storage
products market segmentation by product includes various
categories, such as low-cost airlines, marine transportation, and
aerospace transportation. In the marine sector, illuminating
devices are essential for ensuring safety and efficiency. Seaports
and airports require visual signaling through marine lights,
running lights, and marine docks. These include red lights, green
lights, and white lights, which signal hazards and energy-efficient
lighting solutions. The shipbuilding industry and aviation industry
utilize high-intensity discharge, halogen lighting, and light
emitting diodes (LED) for navigation. LED technology is
increasingly adopted due to its energy efficiency and long
lifespan. Cruise ships and low-cost carriers also rely on these
lighting solutions for their vessels and boats. Land-based
structures, such as visual signaling devices and control panels,
are integral components of this market. Flashers, steady-burning
light bars, and lenses are essential accessories for marine and
aviation applications. The global market for residential outdoor
storage products experiences growth due to the increasing demand
for energy-efficient lighting solutions and the expansion of marine
tourism.
3.1 North
America- In the expansive geographic landscape of
North America, the residential
outdoor storage products market thrives under the influence of
advanced industries such as aircraft manufacturing, ship building,
and marine transportation. The region's dominance is driven by the
increasing emphasis on outdoor living and utilization of outdoor
spaces. Homeowners invest in functional and visually appealing
outdoor solutions, including sheds, decks, and boxes, to
accommodate gardening tools, sports equipment, and residential
outdoor storage cushions. The aerospace and maritime industries,
with their cargo planes, military aircraft, ships, and low, medium,
and high light intensity illuminating devices, significantly impact
the market. Air passenger traffic and cruise ship tourism fuel the
demand for outdoor storage solutions near airports and seaports.
Fighter jets, helicopters, and airline companies, including
low-cost carriers, require efficient storage for their equipment
and supplies. Marine transportation and shipping vessels rely on
visual signaling, steady-burning light bars, and marine docks for
safe navigation in waterways routes. The market is further enriched
by the integration of energy-efficient lighting solutions, such as
light emitting diodes and high intensity discharge lamps, into
land-based structures, marine lights, and running lights. The
interplay of these industries and technologies contributes to the
robust growth of the North American residential outdoor storage
products market.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Key Market Trends Fueling Growth
The residential outdoor storage market is significantly
influenced by technological innovations. These advancements
encompass the adoption of novel materials and smart storage
solutions, as well as automation. Notable material developments
include composite materials, such as wood-plastic composites and
aluminum composite panels, which provide enhanced durability,
sustainability, and natural appearance. Key sectors utilizing these
advancements are marine, aviation, and shipbuilding industries,
with a focus on energy-efficient lighting solutions and automation
for land-based structures.
Market Challenges
- The global residential outdoor storage market growth is
hindered by escalating installation costs and complexities.
Homeowners face financial challenges when selecting outdoor storage
solutions, including sheds, decks, and boxes. These options
necessitate substantial investments in materials, labor, and
installation fees. For instance, shed costs fluctuate based on
size, materials, and features. High-quality, larger sheds can be
prohibitively expensive for some homeowners. In addition, consider
the aerospace and marine industries, which utilize various
illuminating devices, such as navigation lights, nighttime vehicle
operation, and visual signaling. These industries require
significant investments in high-intensity discharge, halogen
lighting, and light-emitting diodes. Similarly, homeowners must
weigh the costs of outdoor storage solutions against their
budgets.
Research report provides comprehensive data on
impact of trend, driver and challenges - Buy
Report
Research Analysis
In the marine sector, outdoor storage products play a crucial
role in ensuring the efficient operation of various vessels and
watercraft. These products include navigation lights, which are
essential for nighttime vehicle operation in seaports and airports.
The harbor master and yard crew rely on these lights to guide
shipping vessels and boats safely in and out of the harbor. Bridge
engineers overseeing land-based structures also benefit from
well-lit areas for optimal safety and visibility. Incandescent
filaments and high-intensity discharge lights have traditionally
been used for illuminating devices on marine transportation, such
as ships and boats. However, the shift towards energy-efficient
lighting solutions, like light-emitting diodes (LEDs), is gaining
momentum in the marine transportation industry. This includes
passenger aircraft, cruise ships, and other shipping vessels. The
shipbuilding industry and aviation industry have embraced LED
technology for its numerous advantages, such as longer lifespan,
lower energy consumption, and reduced maintenance costs. Visual
signaling, using red, green, and white lights, remains an essential
aspect of marine transportation, ensuring clear communication and
safety for all involved.
Market Research Overview
The Residential Outdoor Storage Products market encompasses a
variety of items designed to enhance and organize exterior spaces.
These products include shed panels, doors, hinges, locks, windows,
roofing materials, flooring, shelves, hooks, and various types of
containers such as bins, planters, and garbage cans. The market
caters to homeowners seeking to maximize their outdoor living areas
by providing functional and aesthetically pleasing storage
solutions. Materials used range from wood, metal, and plastic, with
each offering unique benefits in terms of durability, maintenance,
and cost. The market is driven by factors such as increasing home
ownership, growing focus on home improvement, and the trend towards
outdoor living.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Distribution Channel
-
- Geography
-
- North America
- Europe
- APAC
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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