Residential Outdoor Storage Market to Grow with a CAGR of 4.7% Globally through to 2028
Global Residential Outdoor Storage Market is rising due to increased
demand for outdoor storage solutions, driven by growing urbanization and the
need for organized and efficient storage spaces in residential areas in the
forecast period 2024-2028.
According to TechSci Research report, “Global Residential
Outdoor Storage Market - Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, The Global Residential Outdoor Storage
Market is experiencing substantial growth, propelled by the burgeoning need for
efficient storage solutions in residential spaces. As urbanization continues to
transform living environments, homes are becoming smaller, necessitating
creative storage solutions for outdoor spaces. This market addresses the demand
for high-quality storage options, catering to diverse needs such as garden tools,
sports equipment, and seasonal items. Manufacturers are innovating with
weather-resistant materials and smart designs, ensuring durability and
functionality in various outdoor environments. Additionally, the rising trend
of outdoor living spaces and homeowners' focus on aesthetics have contributed
to the market's expansion. Consumers seek stylish and versatile storage
solutions that complement their outdoor decor while providing ample space for
organizing belongings. Moreover, the market benefits from the growing interest
in home improvement projects, as homeowners invest in upgrading their outdoor
spaces for relaxation and entertainment. With a focus on enhancing outdoor
aesthetics and maximizing storage efficiency, the Global Residential Outdoor Storage
Market is set to flourish, meeting the evolving needs of homeowners in an
increasingly urbanized world.
Browse over 26 market data Figures
spread through 91 Pages and an in-depth TOC on "Residential Outdoor Storage Market”.
The global residential outdoor storage market is
experiencing significant growth as homeowners increasingly recognize the need
for efficient and organized storage solutions for their outdoor belongings.
With the rise in outdoor activities and the accumulation of outdoor equipment,
gardening tools, sports gear, and other items, the demand for residential
outdoor storage has surged. This market offers a wide range of storage options,
including sheds, cabinets, deck boxes, and storage benches, designed to cater
to the diverse needs and preferences of homeowners. One of the key drivers of
the global residential outdoor storage market is the growing trend of outdoor
living. Homeowners are increasingly transforming their outdoor spaces into
extensions of their homes, creating outdoor living areas for relaxation, entertainment,
and recreation. As a result, the need for adequate storage solutions to keep
outdoor furniture, cushions, and accessories protected from the elements has
become paramount. Residential outdoor storage provides a convenient and secure
solution, allowing homeowners to store their outdoor belongings when not in
use, ensuring they remain in good condition and ready for enjoyment.
Another factor fueling the growth of the residential
outdoor storage market is the increasing focus on home organization. With the
rise of minimalistic and clutter-free living, homeowners are seeking storage
solutions that help them maintain a neat and organized outdoor space.
Residential outdoor storage units offer ample storage capacity and customizable
features, allowing homeowners to efficiently store and access their belongings.
These storage solutions not only enhance the functionality of outdoor spaces
but also contribute to the overall aesthetic appeal of the property. The
convenience of online shopping has also played a significant role in the
expansion of the global residential outdoor storage market. Online retail
channels provide homeowners with a wide range of options from various brands
and sellers, allowing them to compare prices, read reviews, and make informed
purchasing decisions. The ease of online shopping has made it more accessible
for homeowners to find the perfect storage solution that fits their outdoor
space and storage requirements.
Furthermore, the integration of residential outdoor
storage solutions in various industries has contributed to the market's growth.
In the real estate sector, residential outdoor storage adds value to properties
by providing additional storage space for potential buyers. Homeowners’
associations and property management companies recognize the importance of
outdoor storage in maintaining a neat and organized community. Additionally,
the hospitality industry is incorporating residential outdoor storage in vacation
rentals and resorts to offer guests a convenient place to store their outdoor
equipment during their stay. As the market continues to evolve, manufacturers
are focusing on developing innovative residential outdoor storage solutions.
These solutions prioritize durability, functionality, and aesthetic appeal.
Manufacturers are incorporating advanced features such as smart locks,
adjustable shelving, and customizable compartments to meet the evolving needs
of homeowners. Additionally, there is a growing emphasis on sustainability,
with manufacturers using eco-friendly materials and incorporating
energy-efficient features in their storage units.
In conclusion, the global residential outdoor storage
market is witnessing significant growth driven by the increasing demand for
efficient and organized storage solutions among homeowners. The rise of outdoor
living, the focus on home organization, the convenience of online shopping, and
the integration in various industries are key factors contributing to the
market's expansion. As homeowners seek to enhance their outdoor spaces and
maintain a clutter-free environment, the demand for residential outdoor storage
solutions is expected to continue to rise. Manufacturers are poised to meet
this demand by developing innovative and sustainable storage units that cater
to the diverse needs and preferences of homeowners.
The Global Residential Outdoor Storage Market is
segmented into Material, Product, Distribution Channel, regional distribution,
and company.
Based on Material, the plastic segment account led to a
market size of USD 621.0 million in 2022. It is expected to grow at a CAGR of
4.2% from 2023 to 2030. Residential outdoor storage products made from plastic
material are anticipated to witness high demand over the forecast period.
Plastics remain popular in the market among consumers due to their availability
in a wide variety of shapes and sizes along with their water-resistant
properties. Various outdoor products
made up of plastics such as patio storage containers, bench deck boxes, storage
sheds, and outdoor shelves keep the storage items dry and mold-free in all
seasons. The high impact and tear resistance offered by plastic material are
due to their long and chained polymer structure, which provide the material
with its elasticity and high tensile strength against brittle fracture and
cracking. The rising adoption of high-density polyethylene (HDPE) in making
cabinets, shelves, and deck boxes, owing to their cost-effectiveness, high
quality, and water & chemical resistance, is anticipated to increase the
adoption of plastic materials.
Wood is used to make different types of
sheds in residential spaces, such as bike or bicycle sheds, car sheds, garden
sheds, tool sheds, and firewood storage sheds. Various shed construction
techniques, such as building on a solid foundation, roof trusses, and
implementation of sturdy frame & weather-resistant exterior grade plywood,
are prevalent in different countries including the U.S., New Zealand, and
Australia. Outdoor residential storage
products such as shelves and sheds made from metal materials are expected to
gain a prominent market share owing to their high usage in the form of racks.
These can store heavy items including automotive spare parts and hand and
powertools in outdoor conditions. Steel is one of the most widely used
materials used to produce outdoor shelves and storage racks owing to its
robustness and durability. Steel storage products are easy to maneuver and
construct for both normal and heavy product storage including hand tools and
power tools.
Based on region, The North America regional segment
dominated the market and accounted for the largest revenue share of 56.8% in
2022. The prevailing trend of constructing patios or pergolas outside
residential premises for recreational and leisure activities is further contributing
to the demand for residential outdoor storage, including deck boxes, bins,
totes, outdoor shelves, outdoor storage benches, cabinets, etc. The rising
consumer emphasis on outdoor activities in North America, coupled with the increasing
demand for outdoor storage due to the changing lifestyle of the masses, is
expected to fuel the demand for outside stowing various items such as log
woods, cleaning fabrics, pillows, and towels that are used for dining and
partying outdoors, as well as in pool activities.
Moreover, the easy
availability of wood in the U.S. and Canada is expected to lead to large-scale
production of residential outdoor storage made from wood in these countries.
Wood is used for developing sheds, outdoor shelves, cabinets, and deck boxes. These
storages are anticipated to witness an increased demand in North America due to
the increasing number of residential buildings, especially in suburban areas
owing to the easy availability of adequate land for developing them. The Europe
segment is forecasted to grow at a compound annual growth rate of 4.0% from
2023 to 2030. The rising consumer concerns about improving storage facilities
in their residential spaces to enhance the indoor appearance of their homes is
anticipated to drive the demand for outdoor storage in Europe over the coming
years.
The growing number of new
residential construction activities and ongoing renovations of existing
residential premises in Europe are expected to fuel the use of various tools
and equipment such as wood-cutting tools; paint and polish cans; handheld and power
tools; lawnmowers; and house windows glass cleaners in the region. As these
tools and equipment take a significant space inside residential buildings,
outdoor sheds, garages, and residential shipping containers can be used to
store them for proper management of space, and product stowing; the European
region is expected to witness promising growth during the forecast period.
Major companies operating in Global Residential
Outdoor Storage Market are:
- ShelterLogic Group
- Lifetime Products
- Suncast Corporation
- CEDARSHED USA
- Tuff Shed Inc.
- Backyard Buildings & More
- Keter
- Rubbermaid
- Leisure Season Ltd
- Barnyard Utility Buildings
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“The global residential outdoor storage market is
witnessing significant growth as homeowners increasingly recognize the need for
efficient and organized storage solutions for their outdoor belongings. With
the rise in outdoor activities and the accumulation of outdoor equipment,
gardening tools, sports gear, and other items, the demand for residential
outdoor storage has surged. This market offers a wide range of storage options,
including sheds, cabinets, deck boxes, and storage benches, designed to cater
to the diverse needs and preferences of homeowners. Factors driving this growth
include the growing trend of outdoor living, the focus on home organization,
the convenience of online shopping, and the integration of residential outdoor
storage solutions in various industries. Manufacturers are responding to this
demand by developing innovative and sustainable storage units that prioritize
durability, functionality, and aesthetic appeal. As homeowners seek to enhance
their outdoor spaces and maintain a clutter-free environment, the demand for
residential outdoor storage solutions is expected to continue to rise,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
“Residential
Outdoor Storage Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast, Segmented By Material (Wood, Plastic, Metal, Others), By Product
(Shipping Containers, Sheds, Deck Boxes, Bins & Totes, Outdoor Shelves,
Outdoor Storage Benches & Cabinets), By Distribution Channel (Retail,
Wholesale, E-Commerce), By Region, By Competition”, has evaluated
the future growth potential of Global Residential Outdoor Storage Market and
provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Residential Outdoor Storage Market.
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