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.
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Forecast period |
2024-2028 |
|
Base Year |
2023 |
|
Historic Data |
2018 – 2022 |
|
Segment Covered |
Product (Sheds, Decks, and boxes), Distribution |
|
Region Covered |
North America, Europe, APAC, Middle East and |
|
Key companies profiled |
Absco Sheds, Backyard Products LLC, Backyard |
Segment Overview
This residential outdoor storage products market report extensively covers market segmentation by
- Product
- 1.1 Sheds
- 1.2 Decks
- 1.3 boxes
- 2.1 Offline
- 2.2 Online
- 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.
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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.
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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
- Sheds
- Decks
- Boxes
- Distribution Channel
- Offline
- Online
- 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
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Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
