Global markets for outdoor living structures of $ 2.9 billion until 2028
Dublin, 07 Oct 2021 (GLOBE NEWSWIRE) – The report “Global Outdoor Living Structure Market 2021-2028” has been 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.
Stay-at-home 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, free time to spend with family and friends, and a way to connect with nature.
The European outdoor living structures market is driven by key factors such as the demand for an improved and luxurious lifestyle, increasing per capita income, presence of developed economies and increasing 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.
For more information on this report, visit https://www.researchandmarkets.com/r/ftdowg
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager firstname.lastname@example.org For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900