Residential Outdoor Storage Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Material (Wood, Plastic, Metal, Others), By Product (Shipping Containers, Sheds, Deck Boxes, Bins & Totes, Outdoor Shelves, Outdoor Storage B

Residential Outdoor Storage Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Material (Wood, Plastic, Metal, Others), By Product (Shipping Containers, Sheds, Deck Boxes, Bins & Totes, Outdoor Shelves, Outdoor Storage Benches & Cabinets), By Distribution Channel (Retail, Wholesale, E-Commerce), By Region, By Competition, 2018-2028

Global Residential Outdoor Storage Market was valued at USD 1.6 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 4.7% through 2028. The Global Residential Outdoor Storage Market is experiencing substantial growth, propelled by the burgeoning need for efficient storage solutions in residential spaces. As urbanization continues to transform living environments, homes are becoming smaller, necessitating creative storage solutions for outdoor spaces. This market addresses the demand for high-quality storage options, catering to diverse needs such as garden tools, sports equipment, and seasonal items. Manufacturers are innovating with weather-resistant materials and smart designs, ensuring durability and functionality in various outdoor environments. Additionally, the rising trend of outdoor living spaces and homeowners' focus on aesthetics have contributed to the market's expansion. Consumers seek stylish and versatile storage solutions that complement their outdoor decor while providing ample space for organizing belongings. Moreover, the market benefits from the growing interest in home improvement projects, as homeowners invest in upgrading their outdoor spaces for relaxation and entertainment. With a focus on enhancing outdoor aesthetics and maximizing storage efficiency, the Global Residential Outdoor Storage Market is set to flourish, meeting the evolving needs of homeowners in an increasingly urbanized world.

Key Market Drivers

Efficient Space Utilization in Urban Areas

Efficient space utilization in urban areas serves as a pivotal driver propelling the growth of the Global Residential Outdoor Storage Market. As urbanization intensifies and living spaces become increasingly compact, the demand for innovative storage solutions escalates. Urban dwellers are faced with the challenge of optimizing limited outdoor areas, such as balconies, small gardens, or even rooftop terraces, to create functional living spaces. In this context, residential outdoor storage solutions play a transformative role. Manufacturers, recognizing the pressing need for space-efficient storage, have innovatively designed products tailored to urban environments. Vertical sheds, wall-mounted cabinets, foldable storage systems, and modular units are meticulously crafted to maximize vertical space, ensuring that even the smallest corners can be utilized effectively. These solutions not only cater to the storage needs of urban residents but also enhance the aesthetic appeal of outdoor spaces.

By enabling individuals to organize and store their belongings efficiently, these storage solutions contribute to decluttering urban environments, fostering a sense of order amidst the bustling city life. Moreover, as cities encourage outdoor activities and green spaces, the demand for storage units designed specifically for gardening tools, outdoor furniture, and sports equipment has surged. The market response to this demand has been swift, with manufacturers developing customized, compact storage options that blend seamlessly with urban landscapes. Consequently, the symbiotic relationship between urbanization and innovative outdoor storage solutions has created a robust market ecosystem. Homeowners benefit from organized living spaces, urban landscapes are aesthetically enhanced, and the Global Residential Outdoor Storage Market thrives as a result, offering a diverse array of products that cater to the unique challenges posed by urban living. This trend is expected to persist and intensify as urbanization continues, solidifying the market's position as an essential contributor to urban space optimization and enhancing the overall quality of life for city dwellers globally.

Rising Home Improvement Activities

The Global Residential Outdoor Storage Market is experiencing a significant upswing due to the escalating trend of home improvement activities worldwide. As homeowners increasingly invest in upgrading their residences, outdoor spaces have become focal points for enhancement. Individuals are transforming their gardens, patios, and balconies into multifunctional areas, blending leisure, entertainment, and relaxation. This surge in home improvement endeavors necessitates efficient storage solutions for the array of outdoor items, ranging from gardening tools and supplies to outdoor furniture, sports equipment, and recreational gear. Residential outdoor storage units provide an elegant and practical solution to this burgeoning need, enabling homeowners to organize their outdoor spaces effectively. These storage solutions not only facilitate clutter-free environments but also enhance the overall appeal of outdoor areas by keeping them well-organized and visually pleasing. Moreover, as the home improvement trend intertwines with the growing emphasis on sustainable living, eco-friendly outdoor storage options made from recycled materials are gaining traction. Consumers are increasingly inclined towards environmentally responsible choices, further driving the market toward innovative and sustainable storage solutions.

Manufacturers are responding with a variety of eco-conscious products, aligning with the eco-friendly ethos of modern homeowners. Consequently, the nexus between the flourishing home improvement sector and the demand for streamlined, aesthetically pleasing, and eco-friendly storage solutions is propelling the Global Residential Outdoor Storage Market forward. This synergy between the desire for enhanced outdoor living spaces and the need for organized storage exemplifies a market trend deeply rooted in contemporary lifestyle preferences, underscoring the pivotal role played by residential outdoor storage solutions in the broader landscape of home improvements. As the trend toward improving and optimizing outdoor spaces continues to rise, the market for residential outdoor storage is poised for sustained growth, offering a diverse array of solutions to meet the evolving demands of homeowners globally.

Emphasis on Weather-Resistant and Durable Materials

The Global Residential Outdoor Storage Market is undergoing a significant transformation, primarily driven by the emphasis on weather-resistant and durable materials. In an era where climate uncertainties are prevalent, consumers are increasingly discerning about the longevity and resilience of outdoor storage solutions. This shift in consumer preferences has spurred a wave of innovation among manufacturers, compelling them to invest in advanced materials and construction techniques. Weather-resistant materials, such as high-quality polyethylene, rust-resistant metals, and treated woods, have become the cornerstone of modern outdoor storage designs. These materials are engineered to withstand diverse weather conditions, from scorching heat to freezing cold, ensuring that the storage units remain robust and functional over the years. Moreover, the demand for durability is intertwined with the need for low maintenance. Consumers today seek outdoor storage solutions that not only endure the elements but also require minimal upkeep, aligning with their busy lifestyles.

The market response to this demand has led to the development of storage units featuring reinforced structures, UV-resistant coatings, and innovative sealing technologies. These advancements not only enhance the products' longevity but also contribute to their aesthetic appeal, ensuring that the outdoor storage seamlessly integrates with various architectural styles and outdoor landscapes. Furthermore, the emphasis on durable materials has significant implications for sustainability. Long-lasting storage solutions reduce the frequency of replacements, thereby curbing the environmental impact associated with manufacturing and disposing of products. This aligns with the growing environmental consciousness among consumers, fostering a preference for products that offer both durability and eco-friendliness.

Additionally, the trend towards durability is bolstered by the increasing prevalence of extreme weather events, compelling consumers to invest in storage solutions that can safeguard their belongings under challenging circumstances. Businesses operating in the residential outdoor storage sector are leveraging this trend by continuously researching and introducing innovative materials, ensuring that their products not only meet but exceed consumer expectations. As a result, the market is witnessing a surge in demand for weather-resistant and durable storage solutions, creating a lucrative landscape for manufacturers who prioritize quality, resilience, and customer satisfaction. In conclusion, the emphasis on weather-resistant and durable materials is a driving force behind the Global Residential Outdoor Storage Market's growth, shaping consumer choices and redefining industry standards in an increasingly weather-volatile world.

E-commerce and Online Retail Penetration

The Global Residential Outdoor Storage Market is experiencing a transformative surge, propelled by the remarkable penetration of E-commerce and online retail channels. As the digital landscape evolves, consumers are increasingly turning to online platforms for their purchasing needs, and the residential outdoor storage market is no exception. E-commerce provides a convenient avenue for consumers to explore an extensive array of storage solutions, compare features, read reviews, and make well-informed decisions from the comfort of their homes. Online retail platforms empower customers with a plethora of options, enabling them to choose storage solutions that align perfectly with their specific requirements, be it size, material, design, or eco-friendliness. The ease of browsing through various products and accessing detailed product information significantly enhances the overall consumer experience. Moreover, the global reach of E-commerce ensures that consumers from diverse regions have access to a wide range of residential outdoor storage options, transcending geographical boundaries. This accessibility not only broadens the market but also fosters healthy competition among manufacturers and suppliers, encouraging innovation and the introduction of diverse storage solutions catering to different consumer preferences and needs.

Furthermore, E-commerce platforms facilitate a seamless shopping experience through features like virtual showrooms, 3D models, and augmented reality tools. These technologies allow consumers to visualize how different storage solutions would fit into their outdoor spaces, enhancing their confidence in the purchasing process. Additionally, the integration of secure payment gateways and reliable delivery services ensures a smooth transaction from selection to delivery. As sustainability gains prominence in consumer preferences, online platforms also showcase eco-friendly storage options prominently, aligning with the growing environmental consciousness of buyers.

The digital revolution has not only democratized access to products but has also catalyzed the evolution of residential outdoor storage solutions. Manufacturers are leveraging online platforms to directly interact with consumers, understand their preferences, and introduce innovative, space-saving, and aesthetically pleasing storage designs. The robust growth of E-commerce and online retail is reshaping how consumers perceive, purchase, and utilize residential outdoor storage solutions, making these platforms indispensable drivers of the market's expansion. As consumers increasingly embrace the convenience and variety offered by online channels, the Global Residential Outdoor Storage Market is poised for sustained growth, driven by the seamless synergy between technological advancements and consumer demand.

Increasing Focus on Sustainability and Eco-Friendly Solutions

The Global Residential Outdoor Storage Market is experiencing a paradigm shift, driven by the escalating focus on sustainability and eco-friendly solutions. In an era marked by environmental consciousness, consumers are increasingly cognizant of the impact their purchasing decisions have on the planet. This heightened awareness has reshaped the residential outdoor storage market, compelling manufacturers to innovate and offer eco-friendly storage solutions that align with the principles of sustainability. Materials such as recycled plastics, sustainably sourced wood, and environmentally friendly composites are gaining traction, reflecting the industry's commitment to reducing its carbon footprint. Moreover, the emphasis on sustainable manufacturing processes, including energy-efficient production and waste reduction, underscores the industry's dedication to eco-conscious practices.

Consumers, too, are actively seeking storage solutions that blend functionality with environmental responsibility. Eco-friendly outdoor storage options not only meet their storage needs but also resonate with their values, fostering a sense of social and environmental responsibility. The rising demand for solar-powered storage units and rainwater harvesting integrated solutions exemplifies this trend, showcasing a holistic approach to sustainability. Manufacturers, recognizing the market's shift, are investing in research and development to create innovative designs that optimize space utilization and incorporate green technologies. These eco-virtuous storage solutions not only contribute to resource conservation but also enhance the overall aesthetic appeal of outdoor spaces, creating harmonious integration with nature.

Additionally, the emphasis on sustainability aligns with governmental regulations and initiatives promoting green practices, offering incentives for eco-friendly products and sustainable manufacturing. As a result, manufacturers are incentivized to invest in environmentally conscious technologies and materials, further driving the market's growth. The eco-friendly wave has not only become a selling point but also a core value proposition for businesses, leading to a proliferation of green certifications and labels that assure consumers of the products' sustainable attributes.

Key Market Challenges

Inadequate Standardization and Compatibility Issues

The Global Residential Outdoor Storage Market grapples with challenges arising from the lack of standardization and compatibility concerns. Within this market, a wide variety of storage solutions coexist, ranging from sheds and cabinets to modular containers. While this diversity offers choices to consumers, it also leads to compatibility issues. Customers often face difficulties in finding storage solutions that fit their specific spaces and requirements due to the fragmented nature of available options. Incompatibility problems emerge when homeowners attempt to combine storage units from different brands or designs, resulting in inefficient use of space and limited functionality. The absence of standardized measurements and fittings exacerbates these challenges, compelling consumers to invest considerable time and effort in seeking suitable storage solutions tailored to their needs. This lack of uniformity within the market hampers user convenience and necessitates industry efforts to streamline designs and measurements, offering consumers more accessible and compatible storage choices.

Quality Control and Durability Concerns

Another significant challenge faced by the market is the prevalence of counterfeit and low-quality outdoor storage products, posing risks to user satisfaction and the longevity of stored items. Substandard storage units may lack essential features, leading to issues such as water leakage, rust, or compromised structural integrity. These challenges often arise due to the use of inferior materials or subpar manufacturing processes. Addressing this concern necessitates stringent quality control measures throughout the manufacturing and supply chain. It is crucial for manufacturers to invest in robust quality assurance protocols, ensuring that their products meet durability standards and offer long-lasting performance. Moreover, raising consumer awareness about distinguishing between genuine, high-quality storage solutions and counterfeit or low-grade alternatives is essential. Educative campaigns can empower buyers to make informed decisions, promoting the purchase of durable and reliable outdoor storage products.

Sustainable Practices and Environmental Impact

The widespread adoption of residential outdoor storage solutions has raised environmental concerns, primarily related to the disposal and longevity of these products. As homeowners upgrade or replace their storage units, the disposal of old and often non-biodegradable materials becomes a pressing challenge. Many consumers resort to discarding these units in landfills, contributing to environmental pollution. To address this issue, the market needs to embrace sustainable practices. One solution involves promoting the use of recyclable and eco-friendly materials in the manufacturing of outdoor storage products. Manufacturers can develop storage units made from biodegradable or recyclable materials, reducing the environmental footprint of these products. Additionally, encouraging responsible disposal practices among consumers through recycling programs and initiatives is paramount. Implementing accessible and efficient recycling systems enables homeowners to discard their old storage units responsibly, diverting them from landfills. Furthermore, manufacturers can play a pivotal role by adopting eco-conscious manufacturing processes, minimizing waste generation and energy consumption. By focusing on sustainability, the residential outdoor storage market can mitigate its environmental impact and move towards a more eco-friendly future.

Key Market Trends

Smart Integration for Enhanced Outdoor Storage

The global residential outdoor storage market is witnessing a revolutionary trend with the integration of smart technologies into storage solutions. Smart outdoor storage units equipped with sensors, connectivity features, and remote control capabilities are gaining immense popularity among consumers. These innovative storage solutions allow homeowners to monitor the contents, control access, and receive real-time updates about their storage units through smartphone apps or other smart devices. Smart locks, climate control systems, and security cameras integrated into outdoor storage provide users with unprecedented convenience and peace of mind. Homeowners can remotely manage their storage space, ensuring the safety of their belongings and optimizing the utilization of available space. This trend aligns with the broader concept of smart homes, where seamless integration and automation enhance the overall living experience. As consumers increasingly seek advanced solutions for their storage needs, the integration of smart technologies is expected to be a defining trend, reshaping the landscape of the residential outdoor storage market.

Sustainable and Eco-Friendly Materials

A significant trend shaping the residential outdoor storage market is the growing emphasis on sustainability and eco-conscious choices. Consumers are becoming increasingly environmentally aware, driving the demand for storage solutions crafted from sustainable materials. Manufacturers are responding to this trend by developing outdoor storage units made from recycled materials, biodegradable components, or sustainably sourced wood. These eco-friendly storage solutions not only cater to the environmentally conscious consumer base but also align with global efforts towards sustainability and reducing carbon footprint. Additionally, manufacturers are adopting eco-friendly production processes, minimizing waste, and conserving energy. This trend reflects a fundamental shift in consumer preferences, where eco-conscious choices and environmentally friendly products are becoming key decision-making factors. As sustainability continues to be a driving force in consumer behavior, the residential outdoor storage market is witnessing a proliferation of eco-friendly storage solutions, signaling a significant industry transformation.

Modular and Customizable Storage Solutions

Modular and customizable outdoor storage solutions have emerged as a prominent trend in the market, offering homeowners flexibility and adaptability in managing their storage needs. These modular storage systems feature individual components that can be combined and configured according to specific requirements. Whether it's gardening tools, outdoor furniture, or sports equipment, homeowners can customize their storage units to accommodate diverse items efficiently. The ability to expand or reconfigure storage units as needs change provides a versatile solution for homeowners, ensuring that their storage space evolves with their lifestyle. This trend not only enhances user experience but also addresses the challenge of limited space in urban environments. Consumers appreciate the freedom to design their storage solutions, tailoring them to fit unique spaces and organizational preferences. As urban living spaces become more compact, modular and customizable outdoor storage solutions are becoming increasingly popular, offering a practical and adaptable storage solution for modern homeowners.

Contactless Purchases and Online Customization Tools

The residential outdoor storage market is undergoing a digital transformation, with a surge in contactless purchases and the integration of online customization tools. Consumers now have the convenience of browsing a wide range of storage options from the comfort of their homes through e-commerce platforms. Online retailers offer interactive customization tools that allow customers to design their storage units virtually. These tools enable users to select dimensions, materials, colors, and additional features, providing a personalized and tailored experience. Contactless purchasing options, coupled with virtual customization tools, empower consumers to make informed decisions and visualize the end product before making a purchase. The integration of augmented reality (AR) and virtual reality (VR) technologies further enhances the online shopping experience, allowing consumers to virtually place storage units in their outdoor spaces, ensuring a perfect fit and aesthetic harmony. This trend not only aligns with the growing preference for online shopping but also offers a seamless and immersive buying journey for consumers. As digital tools continue to evolve, the residential outdoor storage market is embracing these technologies to provide a user-centric and convenient shopping experience, driving the market towards a more digitally integrated future.

Innovative Storage Solutions for Compact Living Spaces

With the increasing trend of urbanization and compact living spaces, the residential outdoor storage market is witnessing a surge in innovative storage solutions designed to optimize limited outdoor areas. Manufacturers are developing space-saving storage units, such as vertical sheds, wall-mounted cabinets, and foldable storage systems, catering to homeowners with restricted outdoor space. These innovative designs maximize vertical space, allowing homeowners to store their belongings efficiently without occupying significant ground area. Compact storage solutions are crafted with meticulous attention to design and functionality, ensuring that even small outdoor spaces can be utilized effectively. The demand for these space-saving solutions is driven by the need for efficient storage in urban dwellings, balconies, and small gardens. As more individuals embrace urban living, innovative outdoor storage solutions that make the most out of limited spaces are becoming indispensable. The market's focus on optimizing storage options for compact living spaces reflects a growing consumer need and is expected to shape the market landscape significantly.

Segmental Insights

Material Insights

Based on material, the plastic segment account led to a market size of USD 621.0 million in 2022. It is expected to grow at a CAGR of 4.2% from 2023 to 2030. Residential outdoor storage products made from plastic material are anticipated to witness high demand over the forecast period. Plastics remain popular in the market among consumers due to their availability in a wide variety of shapes and sizes along with their water-resistant properties. Various outdoor products made up of plastics such as patio storage containers, bench deck boxes, storage sheds, and outdoor shelves keep the storage items dry and mold-free in all seasons.

The high impact and tear resistance offered by plastic material are due to their long and chained polymer structure, which provide the material with its elasticity and high tensile strength against brittle fracture and cracking. The rising adoption of high-density polyethylene (HDPE) in making cabinets, shelves, and deck boxes, owing to their cost-effectiveness, high quality, and water & chemical resistance, is anticipated to increase the adoption of plastic materials.

Wood is used to make different types of sheds in residential spaces, such as bike or bicycle sheds, car sheds, garden sheds, tool sheds, and firewood storage sheds. Various shed construction techniques, such as building on a solid foundation, roof trusses, and implementation of sturdy frame & weather-resistant exterior grade plywood, are prevalent in different countries including the U.S., New Zealand, and Australia.

Outdoor residential storage products such as shelves and sheds made from metal materials are expected to gain a prominent market share owing to their high usage in the form of racks. These can store heavy items including automotive spare parts and hand and powertools in outdoor conditions. Steel is one of the most widely used materials used to produce outdoor shelves and storage racks owing to its robustness and durability. Steel storage products are easy to maneuver and construct for both normal and heavy product storage including hand tools and power tools.

Distribution Channel Insights

The retail distribution channel segment led the market with the largest revenue share of 49.3% in 2022. Retail is the most common distribution channel in the market. Consumers procure these products including deck boxes, bins, totes, outdoor shelves, outdoor benches, cabinets, and sheds directly from shop owners as it is convenient, and often comes pre-equipped with transportation, & installation services.

Products including deck boxes, cabinets, storage benches, and outdoor shelves are smaller storage items that can be directly sold even by a smaller retailer. However, large products including sheds and shipping containers are primarily sold by larger retailers that have a strong market presence, in turn, displaying their dominance in the retail distribution channel.

The wholesale segment was valued at USD 343.5 million in 2022 and is expected to reach USD 463.8 million by 2030. The wholesale distribution channel undertakes more financial risk when compared to the retailers, since wholesalers purchase the product in bulk from the manufacturers, thereby taking full legal responsibility for the same. As a result, the pivotal role of wholesalers includes the procurement of products in bulk and their storage until it is required by the retailer or by the customer in the market.

Product Insights

The outdoor storage benches & cabinets product segment is projected to grow at the fastest CAGR of 6.3% from 2023 to 2030. Cedar, pine, and teak are the best types of wood to manufacture outdoor benches due to their high strength and water-resistant properties. However, cedar and teak are expensive compared to pine and as a result, pine is highly used to design and produce storage benches and cabinets. Metal is another material used to produce storage benches owing to its high durability and low price. However, metal benches lack comfort, which is likely to slow down the market growth for outdoor storage benches made from metal.

The shipping container segment accounted for a revenue share of 21.4% in 2022. The segment is further expected to grow at a CAGR of 4.2% over the coming years. This is due to the rising consumer preference for customized and durable backyard storage options outside the residential premises. Safe and secure storage for repair & maintenance equipment such as hand & power tools, lawnmowers, and hedge clippers are expected to boost the demand for shipping containers. These containers present a strong and highly spacious storage option for various essential items for lawn & garden maintenance.

The shed product segment accounted for the largest revenue share of 58.1% in 2022. Sheds in residential premises are primarily used for storage and as covering for various items including bicycles, vehicles, and garden items. Storage and garden sheds are the most-used applications made. These are usually made from wood, plastic, or metal. Storage sheds are used for the storage of residential equipment such as mechanical & electrical tools & equipment, extra furniture, cleaning items, wooden logs, and stoves.

Regional Insights

The North America regional segment dominated the market and accounted for the largest revenue share of 56.8% in 2022. The prevailing trend of constructing patios or pergolas outside residential premises for recreational and leisure activities is further contributing to the demand for residential outdoor storage, including deck boxes, bins, totes, outdoor shelves, outdoor storage benches, cabinets, etc. The rising consumer emphasis on outdoor activities in North America, coupled with the increasing demand for outdoor storage due to the changing lifestyle of the masses, is expected to fuel the demand for outside stowing various items such as log woods, cleaning fabrics, pillows, and towels that are used for dining and partying outdoors, as well as in pool activities.

Moreover, the easy availability of wood in the U.S. and Canada is expected to lead to large-scale production of residential outdoor storage made from wood in these countries. Wood is used for developing sheds, outdoor shelves, cabinets, and deck boxes. These storages are anticipated to witness an increased demand in North America due to the increasing number of residential buildings, especially in suburban areas owing to the easy availability of adequate land for developing them. The Europe segment is forecasted to grow at a compound annual growth rate of 4.0% from 2023 to 2030. The rising consumer concerns about improving storage facilities in their residential spaces to enhance the indoor appearance of their homes is anticipated to drive the demand for outdoor storage in Europe over the coming years.

The growing number of new residential construction activities and ongoing renovations of existing residential premises in Europe are expected to fuel the use of various tools and equipment such as wood-cutting tools; paint and polish cans; handheld and power tools; lawnmowers; and house windows glass cleaners in the region. As these tools and equipment take a significant space inside residential buildings, outdoor sheds, garages, and residential shipping containers can be used to store them for proper management of space, and product stowing; the European region is expected to witness promising growth during the forecast period.

Key Market Players

ShelterLogic Group

Lifetime Products

Suncast Corporation

CEDARSHED USA

Tuff Shed Inc.

Backyard Buildings & More

Keter

Rubbermaid

Leisure Season Ltd

Barnyard Utility Buildings

Report Scope:

Please Note: Report will be updated with the latest data and delivered to you within 3-5 working days of order. Single User license will be delivered in PDF format without printing rights