The global shed and outdoor storage market is poised for substantial growth, with an estimated market size of USD 7,222.7 million in 2024 and projected to expand to USD 13,213.4 million by 2034. This represents a robust compound annual growth rate (CAGR) of 6.2% over the next decade. The growth trajectory is propelled by rising consumer interest in maximizing outdoor spaces and a growing need for organized storage solutions.
Key Drivers
- Urbanization: Increasing urban populations are driving the demand for effective outdoor storage solutions due to limited residential space.
- Outdoor Living Trend: A growing interest in outdoor living spaces encourages homeowners to invest in organized and aesthetically pleasing storage options.
- DIY Culture: The rise of DIY home improvement projects, particularly among younger consumers, fuels demand for easy-to-assemble and customizable storage solutions.
- Technological Advancements: Integration of smart technology and solar-powered options is appealing to tech-savvy consumers seeking innovative storage solutions.
- Sustainability Focus: An increasing emphasis on eco-friendly materials and practices is influencing purchasing decisions and driving market growth.
Key Takeaways
- The global shed and outdoor storage market is projected to grow from USD 7.2 billion in 2024 to USD 13.2 billion by 2034, with a CAGR of 6.2%.
- Rising urbanization and the outdoor living trend are driving demand for organized storage solutions.
- The DIY culture among younger consumers is boosting interest in customizable and easy-to-assemble storage options.
- Technological advancements, including smart and solar-powered sheds, are appealing to modern consumers.
- A focus on sustainability is influencing purchasing decisions in the market.
- Increased vehicle ownership is creating a strong demand for secure and versatile outdoor storage solutions.
Competitive Landscape
Technological advancements and innovations, such as eco-friendly materials and modular construction techniques, have strengthened the presence of major companies in the industry. These developments allow businesses to provide sustainable and versatile storage solutions that align with the changing preferences of global consumers, solidifying their leadership in the shed and outdoor storage market. Additionally, manufacturers worldwide are emphasizing sustainability, producing eco-friendly sheds and outdoor storage options to appeal to a diverse audience.
Industry Update
- On January 30, 2024, Coleson Pokorny of Emerlin Custom Storage Sheds & Outdoor Buildings discussed the company’s new name and expanded services. Originally Colonial Barns, founded by Merlin Miller in 1979, the company rebranded to honor its history and future, offering concrete slabs, electrical, and garages.
- On July 10, 2023, SunVilla and Suntek launched the Solar Powered Smart Yard, a storage shed equipped with solar panels and semi-solid-state batteries. This innovative shed can charge electric outdoor lawn equipment and power outdoor furniture while in storage, merging technology with practical outdoor solutions.
Leading Shed and Outdoor Storage Brands
- Lifetime Products Inc.
- Suncast Corporation
- Rubbermaid
- Keter Group
- ShelterLogic Group
- Arrow Storage Products
- Rowlinson Garden Products
- Tuff Shed
- DuraMax Building Products
- Palram Applications
- Kondor Outbuildings
- Handy Home Products
- Outdoor Living Today
- Cedarshed Industries
- YardStash Solutions
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Key Segments of Shed and Outdoor Storage Market Report
By Product Type:
Depending in product type, the industry is trifurcated into steel, wood, and fabric-covered sheds, and deck boxes.
By Material:
Based on material, the industry is divided into steel, wood, resin, plastic, and metal materials.
By Application:
Sheds and outdoor storages find application in garden tools and equipment, vehicular storage, and refuse containers.
By Distribution Channel:
Online channels, hypermarkets and retail stores, supermarkets, departmental stores, and convenience stores are top distributed channels in this sector.
By Region:
A regional analysis has been carried out in key countries of North America, Latin America, Asia Pacific, Middle East and Africa (MEA), and Europe.
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