North America Wooden Decking Market Forecast 2022-2030

North America Wooden Decking Market Forecast 2022-2030

KEY FINDINGS

The North America wooden decking market is predicted to register a CAGR of 4.90% during the forecasting period, 2022 to 2030. The regional market’s growth is facilitated by the increase in private construction investments, the presence of well-established companies, as well as the rise in residential construction.

MARKET INSIGHTS

The North America wooden decking market growth evaluation encompasses the study of Canada and the United States. In 2019, Canada had 486,800 residential real estate transactions, indicating a rise from the five-year low of 2018. The surge in activity was primarily reflected in Ontario and Quebec, where the numbers reached 9% and 11%, respectively. In addition, over 580,000 residences were purchased and sold within the first ten months of 2021, surpassing the total of 552,423 dwellings sold in the year 2020.

On the other hand, according to industry statistics, more than 74,800 projects received approvals under the Investing in Canada Plan as of November 2021. The Community Infrastructure Improvement Fund (CIIF) has also set aside $117 million for the repair and upgradation of community infrastructure facilities across Canada. Furthermore, in terms of federal funding, the total exceeded $78 billion.

On account of the rising immigration, the requirements for housing as well as infrastructure have significantly expanded in Canada. Hence, the construction industry is anticipated to accelerate rapidly during the upcoming years, thus fueling the demand for wooden decking. Therefore, such factors are set to propel the market growth in North America over the forecast period.

COMPETITIVE INSIGHTS

Some of the major companies operating in the market include West Fraser Timber Co Ltd, Trex Company Inc, Deck Solutions LLC, Weyerhaeuser Company, etc.

Our report offerings include:
Explore key findings of the overall market
Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
Market Segmentation cater to a thorough assessment of key segments with their market estimations
Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments