Decks Market Size, Share & Trends Analysis Report By Material (Wood, Metal), By Application (Railing, Floors), By End-use (Residential, Non-residential), By Fastening Method (Deck Board Face, Deck Board Hidden), By Region, And Segment Forecasts, 2023 - 20

Decks Market Size, Share & Trends Analysis Report By Material (Wood, Metal), By Application (Railing, Floors), By End-use (Residential, Non-residential), By Fastening Method (Deck Board Face, Deck Board Hidden), By Region, And Segment Forecasts, 2023 - 2030

Decks Market Growth & Trends

The global decks market size is expected to reach USD 20.71 billion by 2030, registering a CAGR of 5.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market is experiencing growth due to rising consumer awareness regarding building aesthetics, backyard remodeling, and landscaping activities after the COVID-19 pandemic. Moreover, the rising per capita income has resulted in increasing consumer spending on remodeling and refurbishment activities in developed countries which in turn is expected to further boost decks industry growth.

Rising awareness about the use of sustainable construction materials and green buildings across the globe is expected to increase the construction of wood decks over the coming years. The utilization of wood in construction applications is cost-effective and results in low carbon emissions. Additionally, wood is easier to transport and handle than concrete and metal owing to its lightweight. The processing of wood is also easy, which further results in the development of low-cost products. The properties of wood decks such as excellent durability, aesthetic looks, and cost-effectiveness are anticipated to fuel the market growth.

Growing per capita income of consumers is resulting in the growth of remodeling & refurbishment activities and lavish infrastructure. Additionally, the market is also witnessing resilient repair and replacement demand owing to the growing interest of people in modifying their houses as per changing market trends. Furthermore, the rising inclination toward spending outdoor leisure time is further expected to boost the decks market.

Decks require regular maintenance in order to maintain the safety and aesthetics of a structure. If not maintained properly, decks can cause havoc due to the breakdown process caused by moisture, rain, and UV rays. Decks need annual exfoliation so that the protective sealers can seep deeper inside the wood. Water absorbed in the wooden decks can cause the spread of contaminants and the growth of organisms, thereby resulting in fungi, rot, and mold spores. These factors are likely to restrict the market growth in the coming years.:

Decks Market Report Highlights

• Based on material, the wooden deck segment led the market and accounted for a total revenue of USD 7.80 billion in 2022. Wood is a natural and renewable resource available and does not contribute to any environmental degradation like plastics. In addition, wooden material is commonly used for building decks as it is easy to install, strong and provides aesthetic look to the structure which makes it more preferable choice among other materials
• Based on application, the railing segment is expected to grow at a fast CAGR over the forecast period. Decks are installed in commercial and residential buildings due to their advantages, such as additional versatile space and improved home aesthetics. These decks are modified by adding railing to the edges on account of safety and privacy concerns
• Based on end-use, the residential segment is expected to grow at a CAGR of 6.0% over the forecast period. This growth is driven by the increasing popularity of residential decks in building design, especially in urban areas with dense environments, and their ability to increase property resale value and aesthetic appeal
• Based on fastening method, the deck board face segment dominated the market in 2022. It is a traditional method in which the fasteners are applied on the top of the deck board to create a stronger bond with the deck joists. It is easy to apply, cheap, and durable, making it a popular choice among consumers
• North America dominated the market in 2022. The region's diverse economy, including the U.S. and Canada, has led to an increased demand in the residential sector. The U.S. has been the leading consumer of decks in recent years, with construction of new homes increasing by 9.8% in February 2023

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