Dublin, October 7, 2021 (GLOBE NEWSWIRE) – The “Global market for outdoor living structures 2021-2028” the report was added to ResearchAndMarkets.com offer.
The global outdoor living structures market is expected to reach USD 2.9 billion by 2028 and is expected to grow at a CAGR of 6.1%.
The increasing trend of using gardens or backyards to extend building structures to dining rooms, workspaces, and grill areas is expected to propel the market growth during the forecast period.
According to a survey released by the National Kitchen & Bath Association (NKBA) for 2020-21, interest in adopting outdoor living projects has increased by around 65% in the United States compared to recent years. Additionally, demand for outdoor kitchen facilities is expected to be highest, followed by patios and decks, screened porches and three-season rooms.
Home stay restrictions imposed by governments in several countries amid the outbreak of the COVID-19 pandemic are expected to create new growth opportunities for the market. Companies offering a perpetual work-from-home opportunity to employees have allowed owners to renovate their existing spaces into offices, mini-play areas, grill areas, mini-gymnasiums and yoga spaces.
The market is 100% customer driven, that is, these structures are built to specifications provided by customers. In addition, the raw materials are also selected according to the preferences of consumers. This has led to market domination by local players confined to specific regions, however, companies like Absolute Outdoor Living, Corradi, Outdoor World are improving market penetration through contractors and architects.
Highlights of the Outdoor Living Structures Market Report
- The pavilion / gazebo segment is expected to grow at the fastest CAGR of 6.9% during the forecast period due to the structure having its own floor and partially enclosed sides, improving placement and application options.
- In addition, the increasing use of the product to add aesthetics near mini bars near swimming pools, fireside gatherings and entertainment areas is expected to propel the market growth during the forecast period.
- North America dominated the market with a revenue share of 43.4% in 2020. This is attributed to the growing popularity of the concept of “outdoor living” among consumers as it offers relaxation, recreation to spend with family and friends and a way to connect with nature.
- The European market for outdoor living structures is driven by key factors such as the demand for an improved and luxurious lifestyle, the increase in per capita income, the presence of developed economies and the increase in investments in residential construction and landscaping projects.
- Several companies offer application-based AI solutions to customers to update their preferences for structural design, materials to be used, tile colors and designs, and size of structures according to desired applications. For example, Absolute Outdoor Living offers a StruXure Outdoor application, which is controlled by its partner, Somfy Systems Inc.
- Exterior Structure Company LLC
- Live outside
- Absolute outdoor life
- IQ outdoor living
- Totally outside
- Outside world
- Australian outdoor life
- Bosman Homefront
- Scandia Canada
For more information on this report, visit https://www.researchandmarkets.com/r/ftdowg