Market Segmentation
Developed economies are witnessing an emerging trend, wherein the population category with high discretionary income is using their garden areas or, backyards to extend their building structures new trendy dining areas, luxury hubs, working spaces, grill areas, screened porch, sunroom, and others. This helps the customers to expand their living spaces, have better space management of their plots, and increase the value of the properties. This is expected to drive the growth of the outdoor living structures market. This trend in majorly prevalent in the developed countries of Europe and North America regions. Rising disposable income of the population in the emerging economies in the coming years, is also expected to create growth opportunities for the outdoor living structures market. The growing construction of backyard cottages or accessory dwelling units is expected to add to demand for outdoor living structures. They are utilized for assisted living facilities for old age people, study rooms for children, storage room for house stuff, and tenants for additional income. As per a survey published by National Kitchen & Bath Association (NKBA) for 2020 - 21, the adoption of outdoor living projects interest has grown by about 65% in U.S. by the past few years.
The construction of outdoor living structures is primarily prevalent in large houses with big lawns and backyards, and their limited availability in single-family housing units and apartments due to space constraints and high costs is a potential restraint. The global shift from multi-family housing to single-family housing is expected to result in increased demand for apartment housing, potentially leading to a decrease in demand for outdoor living structures. This shift is driven by the construction of high-rise residential complexes to cater to the growing housing demands of the majority of the world's population, which prefers small to large-sized apartments. As a result, the high utilization of residential space in these complexes is expected to decrease the space available for outdoor living structures.
This section will provide insights into the contents included in this outdoor living structure market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.
Industry overview
Industry trends
Market drivers and restraints
Market size
Growth prospects
Porter’s analysis
PESTEL analysis
Key market opportunities prioritized
Competitive landscape
Company overview
Financial performance
Product benchmarking
Latest strategic developments
Market size, estimates, and forecast from 2017 to 2028
Market estimates and forecast for product segments up to 2028
Regional market size and forecast for product segments up to 2028
Market estimates and forecast for application segments up to 2028
Regional market size and forecast for application segments up to 2028
Company financial performance