Outdoor Shed Market is expected to reach US$ 9,615.28 million by 2028

Continued Active Lifestyles to Provide Growth Opportunities for Outdoor Shed Market During 2021–2028

According to our latest market study on “Outdoor Shed Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type and Application,” the market is projected to reach US$ 9,615.28 million by 2028; it is expected to grow at a CAGR of 5.5% from 2021 to 2028.

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 US mainly focus on active lifestyles to stay healthy. According to the World Health Organization (WHO) study, the US people are 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 from this 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 world 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 outdoor shed market in the coming years.

The outdoor shed market is segmented into type, application, and geography. Based on type, the market is further segmented into wood sheds, metal sheds, and plastic sheds. In 2021, the metal sheds segment accounted for a significant share in the global outdoor shed market. In terms of application, the market is categorized into residential, commercial, and industrial. In 2021, the commercial segment accounted for a significant share in the global outdoor shed market. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA), and South America (SAM). In 2021, Asia Pacific accounted for a significant share in the global outdoor shed market.

Impact of COVID-19 Pandemic on Outdoor Shed Market

The COVID-19 pandemic has affected the growth of several industries worldwide, including the outdoor shed market. The tremendous growth in the spread of the virus has urged governments worldwide to impose strict restrictions on vehicle and human movement. Due to travel bans, mass lockdowns, and business shutdowns, the pandemic has affected economies and countless industries in various countries. The lockdown imposition has resulted in lesser production of commodities, goods, and services. Manufacturing, automotive, semiconductor & electronics, oil & gas, mining, aviation, and other industries have witnessed a decline in their operations due to the temporary shutdown of activities. The worldwide lockdown to minimize the transmission of virus has significantly disrupted the supply chain activities, along with the production volume, across several manufacturers, especially the small & medium enterprise owners. Moreover, the production activities in multiple industries have contracted significantly in 2020, resulting in decline in the manufacturing of outdoor sheds.

However, with the increase in popularity of gardening and consumers’ penchant for maintaining their lawns and continuing active lifestyles (bicycling, skis, camping equipment, and others), consumers need a place to store such equipment. Moreover, with the do-it-yourself (DIY) concept, most of the people across the globe are building outdoor sheds by themselves with the help of e-commerce for getting the raw materials. Also, with the release of lockdown restrictions in 2021, the manufacturing business has started in full strength, which would help in creating a positive scenario for the outdoor shed market.

DuraMax, Handy Home Products, Keter, Lifetime Products, PM Impex Pvt. Ltd., Rubbermaid, ShelterLogic, Suncast, Tuff Shed, and Pressmach Infrastructure Private Limited are among the major companies operating in the outdoor shed market.

Outdoor Shed Market – by Geography, 2020 and 2028 (%)

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Outdoor Shed Market to Grow at a CAGR of 5.5% to reach US$ 9,615.28 million from 2021 to 2028

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Outdoor Shed Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Wood Sheds, Metal Sheds, and Plastic Sheds) and Application (Residential, Commercial, and Industrial)

The report segments the global outdoor shed market as follows:

By Type

• Wood Sheds
• Metal Sheds
• Plastic Sheds

By Application

• Residential
• Commercial
• Industrial

By Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • Italy
  • UK
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • South Korea
  • Japan
  • Australia
  • Rest of APAC
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA
• South America
  • Brazil
  • Argentina
  • Rest of SAM