The MEA outdoor shed market is expected to grow from US$ 352.46 million in 2021 to US$ 455.66 million by 2028; it is estimated to grow at a CAGR of 3.7% from 2021 to 2028.
Burgeoning active lifestyles is expected to escalate the market growth in coming years.Physical activity is one of the essential practices that aim to seriously address the problems of sedentary living and obesity among children and adults.
Active living contributes to the physical and mental well-being of an individual and community.Physical activities are not limited to sports or organized recreation.
They exist everywhere, where people live and work, and in neighborhoods.For instance, people in the several MEA countries mainly focus on active lifestyles to stay healthy.
According to the world health organization (WHO), the study found that physically active people have lower annual direct medical costs than inactive people. The study also showed that increasing regular moderate physical activity among inactive adults might reduce the annual national direct medical costs by many billions of dollars. Employers also benefit, since having a physically active workforce can lead to reductions in absenteeism and increased productivity. Cities that spend the least on providing mobility infrastructure for their inhabitants are medium- or high-density towns, where trips are being made mainly using public transport, walking, and cycling. The increasing active lifestyle across the region that comprises bicycling, skis, camping, and other such physical activities will create a need of extra space other than the residential houses to store activity equipment, which will offer lucrative opportunities for the MEA outdoor shed market in the coming years.
In case of COVID-19, the MEA is highly affected especially South Africa.The MEA comprises South Africa, the UAE, Saudi Arabia, and other countries.
The Middle East & Africa region has less number of companies that offer market-specific solutions.According to the Institute of Chartered Accountants in England and Wales (ICAEW), the Middle East economy is anticipated to witness a sharp slowdown in the first half of 2020, regardless of impetus packages as well as monetary rate cuts to relax the economic setback of the COVID-19 outbreak.
Further, the Middle East economy is projected to notice a pickup in the second half of 2021, after both demand and supply-side disruptions disappear.In the Middle East & Africa, the requirement for outdoor sheds in commercial and industrial applications is more than the residential sector, owing to major use of outdoor sheds in industries.
With the imposition of lockdown, the factories are unable to operate; therefore, there is a dip in the demand in 2020. However, as the lockdown restrictions have been lifted in 2021, the manufacturing and other industrial activities have started again. The number of factories is also growing in the region, leading to the requirements of outdoor sheds for the factories. Therefore, this factor will have a positive impact on the growth of the outdoor shed market in the region.
Based on application, the industrial segment dominated the MEA outdoor shed market in 2020.An industrial shed is a cost-effective solution for housing and storing heavy machinery, such as manufacturing equipment and raw and finished materials used for industrial purposes.
The high level of flexibility and cost benefits offered by metal, plastic, and wooden sheds make them a favorable choice for various industries over traditional brick and mortar buildings.Since industries require high utility and functionality on spaces, industrial outdoor sheds come with many features such as open sides, tilt panels, and concrete flooring to ensure the safety and longer shelf life of machinery.
The industrial sheds are cost-effective alternatives to traditional building structures and provide greater return on investment.Majority of the industrial sheds are made of metal since they require high tensile strength and durability.
The industrial sheds are maintenance-free, and users can modify the sheds according to their requirements. Given above advantages of sheds in the industrial sector is expected to increase its demand, thereby driving the MEA outdoor shed market.
The overall MEA 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 MEA outdoor shed market.
The process also serves the purpose of obtaining overview and forecast for the MEA 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 MEA outdoor shed market. DuraMax, Keter, Lifetime Products, Rubbermaid, and Suncast are among a few players operating in the MEA outdoor shed market.
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