Global Residential Outdoor Storage Products Market Insights Forecasts to 2033

• The Global Residential Outdoor Storage Products Market Size was Valued at USD 1.43 Billion in 2023
• The Market Size is Growing at a CAGR of  3.92% from 2023 to 2033
• The Worldwide Residential Outdoor Storage Products Market Size is Expected to Reach USD 2.10 Billion by 2033
• Europe is Expected to Grow the fastest during the forecast period.

The Residential Outdoor Storage Products Market Size is Anticipated to Exceed USD 2.10 Billion by 2033, Growing at a CAGR of 3.92% from 2023 to 2033. Growth for residential outdoor storage is anticipated to be driven by the growing number individuals using numerous vehicles as a result of consumers' quickly shifting preferences for maintaining multiple vehicles. Some of the few tasks involved in enhancing residential landscaping are constructing garden structures and setting up watering systems.

Market Overview

Residential outdoor storage supplies are objects intended to provide organized and easily accessible storage options for outside environments. These products comprise sheds, deck boxes, storage cabinets, and tool storage containers made of wood, metal, and plastic. They are built to endure outside elements while also providing convenience and effectiveness to organize outdoor equipment and valuables. The growing number of nuclear families world-wide, driven by a growing significance of economic and social mobility for job opportunities, marriages, and learning, is predicted to lower demand for large-sized single-family homes. The increasing number of nuclear families is resulting in the development of apartment focusing units, which require less space and are less expensive.  

Opportunities

There is a growing need for efficient storage options that improve the use and management of outdoor living spaces including patios and gardens. Because customers are searching for products that promote their outdoor lifestyle, this trend offers enormous opportunities for market expansion.

Report Coverage

This research report categorizes the market for the residential outdoor storage products market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the residential outdoor storage products market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the residential outdoor storage products market.

Driving Factors

There is an intense desire to invest in storage options that provide both effectiveness and aesthetic value as more homeowners strive to optimize the usability and appearance of their outdoor spaces. The growing popularity of different outdoor storage systems that effectively manage and arrange sports equipment, gardening tools, and other outside objects is indicative of this trend and helps to improve residential properties broadly.

Restraining Factors

One of the most significant issues in the residential outdoor storage products industry is the high upfront cost of excellent products.

Market Segmentation

The residential outdoor storage products market share is classified into material, product, and distribution channel.

• The plastic segment accounted for the largest revenue market share over the forecast period.

Based on the material, the residential outdoor storage products market is categorized into wood, plastic, metal, and others. Among these, the plastic segment accounted for the largest revenue market share over the forecast period. Residential outdoor storage products constructed of plastic are expected to be in substantial demand during the projection period. Plastics are popular among customers due to their versatile shapes and sizes, and additionally for their water resistance.

• The outdoor storage benches & cabinets segment is anticipated to grow at the highest CAGR during the forecast period.

Based on the product, the residential outdoor storage products market is categorized into shipping containers, sheds, deck boxes, bins & totes, outdoor shelves, and outdoor storage benches & cabinets. Among these, the outdoor storage benches & cabinets segment is anticipated to grow at the highest CAGR during the forecast period. Cedar, pine, and teak are the ideal woods for outdoor benches because of their excellent strength and water resistance. However, cedar and teak are more expensive than pine; hence pine is frequently utilized in the design and production of storage benches and cabinets. Metal is additionally utilized to make storage benches because of its excellent durability and low cost.

• The retail segment dominates the market with the highest market share through the forecast period.

Based on the distribution channel, the residential outdoor storage products market is categorized into retail, wholesale, and e-commerce. Among these, the retail segment dominates the market with the highest market share through the forecast period. Retail is the most prevalent distribution route in the industry. Consumers purchase such things, such as deck boxes, bins, totes, outside shelves, outdoor benches, cabinets, and sheds, directly from business owners since they come in handy and sometimes include shipping and installation services.

Regional Segment Analysis of the Residential Outdoor Storage Products Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the residential outdoor storage products market over the predicted timeframe.

North America is projected to hold the largest share of the residential outdoor storage products market over the forecast period. A requirement for residential outdoor storage, such as deck boxes, bins, totes, outdoor shelves, outdoor storage benches, cabinets, etc., is also being fueled by the widespread trend of building patios or pergolas outside of homes for recreation and entertainment reasons. In North America, consumers' growing emphasis on outdoor activities and the need for outdoor storage as a result of people's changing lifestyles are predicted to increase. The demand for outdoor storage of a variety of objects, including log woods, cleaning cloths, pillows, and blankets used for dining outdoors and partying and even pool activities.

Europe is expected to grow at the fastest CAGR growth in the residential outdoor storage products market during the forecast period. Growing consumer worries about upgrading storage capabilities in their residential spaces to improve the internal look of their houses are expected to boost popularity of outdoor storage in Europe in the coming years.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the residential outdoor storage products market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• ShelterLogic Group
• Lifetime Products
• Suncast Corporation
• CEDARSHED
• Tuff Shed Inc.
• Backyard Buildings & More
• Keter
• Rubbermaid
• Leisure Season Ltd
• Barnyard Utility Buildings
• Harwal Group of Companies
• Palram Industries Ltd.
• Porta-King Building Systems
• Keter
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In October 2022, Suncast, a market leader in outdoor storage solutions, recently unveiled its revolutionary residential outdoor storage unit lineup. The new items incorporate innovative materials and design aspects to increase durability and weather resistance. Suncast storage solutions are designed to withstand severe climates, assuring long-term performance.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the residential outdoor storage products market based on the below-mentioned segments: 

Global Residential Outdoor Storage Products Market, By Material

• Wood
• Plastic
• Metal
• Others

Global Residential Outdoor Storage Products Market, By Product

• Shipping Containers
• Sheds
• Deck Boxes, Bins & Totes
• Outdoor Shelves
• Outdoor Storage Benches & Cabinets

Global Residential Outdoor Storage Products Market, By Distribution Channel

• Retail
• Wholesale
• E-Commerce

Global Residential Outdoor Storage Products Market, By Regional Analysis

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