The global outdoor shed market is expected to grow from US$ 6,590.60 million in 2021 to US$ 9,615.28 million by 2028; it is estimated to grow at a CAGR of 5.5% during 2021–2028.
Outdoor sheds are widely used for storage purposes in residential, commercial, and industrial sectors worldwide.Continuously rising focus on infrastructure development, expanding residential complexes, and increasing investments in research and development by outdoor shed designing and manufacturing companies worldwide are anticipated to drive the global outdoor shed market during 2021–2028.
Asia Pacific (APAC) is a key region driving the global market, and countries such as China, India, Australia, Japan, and South Korea are major players in the regional market.The increasing industrial and infrastructural operations in APAC, especially in India and China, led to a rise in the number of construction projects, which is propelling the demand for outdoor industrial sheds for storing heavy machinery such as construction tools.
The thriving construction business, owing to the increase in investment in infrastructure in countries such as US and Canada, coupled with strong consumer spending on home repairs and renovations, is bolstering the growth of the outdoor shed market in North America. Further, the demand for the outdoor sheds in the region is gaining momentum, owing to the popularity of gardening and consumers’ initiatives to maintain their lawns and continue active lifestyles with equipment such as bicycle, skis, camping equipment, and fitness equipment that require an outdoor storage space.
The outdoor shed machine market is segmented based on type, application, and geography.Based on type, the market is categorized into wood shed, metal shed, and plastic shed.
The metal shed segment represented the largest share of the overall market in 2020.In terms of application, the outdoor shed machine market is segmented into residential, commercial, and industrial.
In 2020, the commercial segment accounted for a substantial share of the market.Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).
In 2020, APAC accounted for the significant share in the global market.
The COVID-19 pandemic has affected the growth of several industries worldwide, including the outdoor shed market.The tremendous growth in the spread of the virus has urged governments worldwide to impose strict restrictions on vehicle and human movement.
Due to travel bans, mass lockdowns, and business shutdowns, the pandemic has affected economies and countless industries in various countries.The lockdown imposition has resulted in lesser production of commodities, goods, and services.
Manufacturing, automotive, semiconductor & electronics, oil & gas, mining, aviation, and other industries have witnessed a decline in their operations due to the temporary shutdown of activities.The worldwide lockdown to minimize the transmission of virus has significantly disrupted the supply chain activities, along with the production volume, across several manufacturers, especially the small & medium enterprise owners.
Moreover, the production activities in multiple industries have contracted significantly in 2020, resulting in decline in the manufacturing of outdoor sheds. However, with the increase in popularity of gardening and consumers’ penchant for maintaining their lawns and continuing active lifestyles (bicycling, skis, camping equipment, and others), consumers need a place to store such equipment.Moreover, with the do-it-yourself (DIY) concept, most of the people across the globe are building outdoor sheds by themselves with the help of e-commerce for getting the raw materials.
Also, with the release of lockdown restrictions in 2021, the manufacturing business has started in full strength, which would help in creating a positive scenario for the outdoor shed market.
The overall outdoor shed machine market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the outdoor shed machine market with respect to all the segments.It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the outdoor shed machine market.
Major players operating in the global outdoor shed machine market include Duramax, Handy Home Products, Keter, Lifetime Products, PM Impex Pvt. Ltd., Rubbermaid, ShelterLogic, Suncast, Tuff Shed, and Pressmach Infrastructure Private Limited.
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