Market Introduction
The region is expected to witness a rapid increase in commercialization and industrialization, which would further boost the demand for outdoor sheds in the region. Urbanization in the Middle East is transforming the outlook of countries. The MEA stands among the most highly urbanized regions which is having the construction of the new cities. Responding toward a shift occurring in the global economic power has positioned the Middle East firmly as the world’s fastest-growing market with Dubai and Abu Dhabi turning into global industrial hubs. With the rising industrialization, the adoption of outdoor shed in the manufacturing plants is increasing. Israel, Turkey, and Saudi Arabia are a few countries that hold a significant position in the industrial growth. The government of Saudi Arabia is providing huge financial and administrative backing to the manufacturing sector. These include implementation of the required infrastructure, construction of new industrial cities such as Jubail and Yanbu, and the establishment of Saudi Industrial Development Fund (SIDF) and other incentives to help industrialization. With the rise in industrialization and manufacturing activities, there is an increase in manufacturing plants. Each manufacturing plant will require a storage space, which is increasing the demand for outdoor industrial sheds. In the MEA, there is already a pressure on the economy of various oil-based countries due to falling oil prices. In addition to this, the factory lockdowns and business shutdowns due to COVID-19, are further aggravating the economic problems of the countries in the region. The construction activities in the MEA dropped significantly. However, with the release of lockdown restrictions and start of vaccination process, the construction activities have started again. The number of factories in the region is also growing, leading to the requirements for outdoor sheds in the factories.
In case of COVID-19, MEA is highly affected especially South Africa. The MEA comprises South Africa, the UAE, Saudi Arabia, and other countries. The Middle East & Africa region has a smaller number of companies that offer market-specific solutions. According to the Institute of Chartered Accountants in England and Wales (ICAEW), the Middle East economy is anticipated to witness a sharp slowdown in the first half of 2020, regardless of impetus packages as well as monetary rate cuts to relax the economic setback of the COVID-19 outbreak. Further, the Middle East economy is projected to notice a pickup in the second half of 2021, after both demand and supply-side disruptions disappear. In the Middle East & Africa, the requirement for outdoor sheds in commercial and industrial applications is more than the residential sector, owing to major use of outdoor sheds in industries. With the imposition of lockdown, the factories are unable to operate; therefore, there is a dip in the demand in 2020. However, as the lockdown restrictions have been lifted in 2021, the manufacturing and other industrial activities have started again. The number of factories is also growing in the region, leading to the requirements of outdoor sheds for the factories. Therefore, this factor will have a positive impact on the growth of the outdoor shed market in the region.
Market Overview and Dynamics
The MEA outdoor shed market is expected to grow from US$ 352.46 million in 2021 to US$ 455.66 million by 2028; it is estimated to grow at a CAGR of 3.7% from 2021 to 2028. Increase in the adoption of smartphones and the high penetration of internet are bolstering the adoption of e-commerce across the region. Nowadays, products are easily accessible, with only a tap away. This has also influenced the outdoor shed businesses to adopt online selling channels to expand their respective customer bases. Raw materials and other equipment required to construct outdoor sheds are often bulky. Therefore, in conventional purchase, it is difficult to carry everything from store to home. On the other side, in online purchases, these materials and tools are delivered at the doorstep. Also, with the help of e-commerce, a consumer compares the material quality and significant price among various options. Furthermore, the ongoing COVID-19 pandemic crisis is compelling consumers to stay indoors. With the DIY (do it yourself) concept, in the pandemic, people are getting more time to develop the outer area of their houses by themselves. As a result, the use of online shopping for both essential and nonessential goods, comprising outdoor shed materials, is increasing amid pandemic across MEA region.
Key Market Segments
In terms of type, the metal sheds segment accounted for the largest share of the MEA outdoor shed market in 2020. In terms of application, the industrial segment held a larger market share of the MEA outdoor shed market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the MEA outdoor shed market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are DuraMax, Keter, Lifetime Products, Rubbermaid, and Suncast.
Reasons to buy report
MEA Outdoor Shed Market Segmentation
MEA Outdoor Shed Market - By Type
MEA Outdoor Shed Market - By Application
MEA Outdoor Shed Market - By Country
MEA Outdoor Shed Market - Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 352.46 Million |
| Market Size by 2028 | US$ 455.66 Million |
| CAGR (2021 - 2028) | 3.7% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Middle East and Africa
|
| Market leaders and key company profiles |
|
The Middle East and Africa Outdoor Shed Market is valued at US$ 352.46 Million in 2021, it is projected to reach US$ 455.66 Million by 2028.
As per our report Middle East and Africa Outdoor Shed Market, the market size is valued at US$ 352.46 Million in 2021, projecting it to reach US$ 455.66 Million by 2028. This translates to a CAGR of approximately 3.7% during the forecast period.
The Middle East and Africa Outdoor Shed Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East and Africa Outdoor Shed Market report:
The Middle East and Africa Outdoor Shed Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East and Africa Outdoor Shed Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East and Africa Outdoor Shed Market value chain can benefit from the information contained in a comprehensive market report.
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