The APAC outdoor shed market is expected to grow from US$ 2,198.10 million in 2021 to US$ 3,495.73 million by 2028; it is estimated to grow at a CAGR of 6.9% from 2021 to 2028.
Burgeoning popularity of gardening and consumers’ penchant for maintaining their lawns is expected to surge the market growth in coming years.With the increase in population, the construction of residential houses is increasing.
With this growth, the gardening activities are also rising.For keeping gardening tools, such as lawnmower, outdoor sheds are needed.
For instance, in China, the Garden Shed Company mentioned that there has been a high increase in the number of orders for sheds and shed equipment.In several countries across the region, people maintain their lawns because the lawn is considered as an important factor in relation to their status within the community.
Lawns connect neighbors and neighborhoods. They are viewed as an indicator of socio–economic character, which translates into property- and resale values. A well-maintained lawn is a sign that its owner has a time or money to support this attraction. Therefore, for maintaining lawns, people keep gardening equipment and tools. They need a storage area to further store these equipment and tools. Thus, the APAC outdoor shed market is anticipated to witness the growth in coming years.
In APAC, India witnessed the highest number of COVID-19 cases in 2021.The COVID-19 outbreak that emerged in China has affected several neighboring countries such as India, South Korea, and Japan.
China and India are the most prominent manufacturing hubs in the region and have an enhanced focus on industrialization.The growth of the manufacturing industry has been hampered due to lockdown; however, the industry is soon expected to recover it by enhancing the production capabilities in the second half of 2021.
The ban imposed on commercial activities has disrupted the industrial supply chains in APAC, leading to raw material shortages.Industries such as metal processing are the worst affected.
Since steel is an important raw material for constructing outdoor industrial sheds, the nonavailability of raw materials has impacted the outdoor sheds manufacturers. The shortage of steel sheets is restricting the construction of steel sheds. Moreover, social distancing protocols are preventing consumers from visiting retail stores to purchase the necessary material. However, as the lockdown restrictions have been lifted, and vaccination process has begun, shipment of raw materials and industrial activities have started again. This will boost the growth of the outdoor shed manufacturing in the region.
Based on type, the plastic sheds segment is expected to be fastest growing during forecast period for APAC region.Plastic sheds segment includes resin sheds, vinyl sheds, or high-density polyethylene sheds.
These are the latest type of sheds in the market.The plastic sheds offer certain advantages over the other two types.
Since theses sheds are made of a vinyl material, they are lighter, yet stronger and more durable than wooden sheds.Some manufacturers integrate steel reinforcements for support and a double wall panel construction for extra strength and durability in wooden or plastic sheds.
Further, plastic sheds are basically maintenance free and stain resistant. Another advantage of the product is its easy installation and less assembly time. Also, to install these sheds, less carpentry knowledge is required. Plastic shed kits are less expensive than wooden DIY sheds but can be more expensive than basic metal shed kits. The given above advantages of plastic sheds are expected to increase its demand in coming years, thereby driving the APAC outdoor shed market during forecast period.
The overall APAC outdoor shed 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 APAC outdoor shed market.
The process also serves the purpose of obtaining overview and forecast for the APAC outdoor shed market with respects to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants who typically take part in such a 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 APAC outdoor shed market.Keter, Lifetime Products, PM Impex Pvt.
Ltd., Pressmach Infrastructure Private Limited, Rubbermaid, ShelterLogic, and Suncast are among a few players operating in the APAC outdoor shed market.
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