Plastic Sheds Segment is Expected to be Fastest Growing During Forecast Period for APAC Region  

According to a new market research study on “APAC Outdoor Shed Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type and Application” is expected to reach US$ 3,495.73 million by 2028 from US$ 2,198.10 million in 2021. The market is estimated to grow at a CAGR of 6.9% from 2021 to 2028. The report provides trends prevailing in the APAC outdoor shed market along with the drivers and restraints pertaining to the market growth. Growing active lifestyles and burgeoning popularity of gardening and consumers’ penchant for maintaining their lawns are the major factor driving the growth of the APAC outdoor shed market. However, expensive raw material hinders the growth of APAC outdoor shed market.

In case of COVID-19, APAC is highly affected specially India in 2021. The COVID-19 outbreak that emerged in China has affected several neighboring countries such as India, South Korea, and Japan. China and India are the most prominent manufacturing hubs in the region and have an enhanced focus on industrialization. The growth of the manufacturing industry has been hampered due to lockdown; however, the industry is soon expected to recover it by enhancing the production capabilities in the second half of 2021. The ban imposed on commercial activities has disrupted the industrial supply chains in APAC, leading to raw material shortages. Industries such as metal processing are the worst affected. Since steel is an important raw material for constructing outdoor industrial sheds, the nonavailability of raw materials has impacted the outdoor sheds manufacturers. The shortage of steel sheets is restricting the construction of steel sheds. Moreover, social distancing protocols are preventing consumers from visiting retail stores to purchase the necessary material. However, as the lockdown restrictions have been lifted, and vaccination process has begun, shipment of raw materials and industrial activities have started again. This will boost the growth of the outdoor shed manufacturing in the region.    

The APAC outdoor shed market is segmented into the type, application, and country. Based on type, the market is segmented into wood sheds, metal sheds, and plastic sheds. The metal sheds segment held the largest market share in 2020 owing to high demand of industrial and commercial sheds from region. In terms of growth rate, plastic sheds are the expected to be the fastest growing segment over the forecast period of 2021 to 2028. Based on application, the market is segmented into residential, commercial, and industrial. In 2020, the commercial segment held the largest revenue share of the APAC outdoor shed market and same segment is expected to be fastest growing during forecast period.  Based on country, the market is segmented into China, India, Japan, South Korea, Australia, and rest of APAC.

Keter, Lifetime Products, PM Impex Pvt. Ltd., Pressmach Infrastructure Private Limited, Rubbermaid, ShelterLogic, and Suncast are among the leading companies in the APAC outdoor shed market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, ShelterLogic Corp. announced their acquisition of several product brands from Bravo Sports Corp. including QuikShade, MotoShade, ShadeTech, QuikChair, Solo, and GO to diversify their range of outdoor shade products and increase their product portfolio.   

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