Market Insights: A Selection From The Report
A Robust Market Slows Down
U.S. is Global Garage Organization and Shed Leader
Self Storage Decline Could Boost Home Storage
Housing Bust Can’t Halt Steady Growth of Garage and Storage Shed Market
New York, March 12, 2009 - The brand-new third edition of Garage and Storage Shed Trends in the U.S. from industrial market research publisher SBI features critical perspective on the housing and economic downturn and the impact through early 2009. The report examines how the market for garage organization products and storage sheds in the United States has been growing at a rapid pace in spite of the financial crisis.
Even with the housing bust, this market has seen a 10% compound annual growth rate (CAGR) from 2004-2008. SBI projects a much slower CAGR of 4% for years 2009-2013, with most of the slack to occur in 2009. But any growth in this economic climate is good news.
Garage and Storage Shed Trends in the U.S., 3rd Edition also analyzes consumers’ continued desire and need to organize their homes, and examines reasons why this need will drive demand as the economy recovers. The report contains updated data on the U.S. market for garage organization products and storage sheds, including historical (2004-2008) and forecast (2008-2013) retail sales data.
In addition to sales updates, the report updates: factors and trends impacting growth, the impact of dynamic raw material prices, market and products trends, distribution and retail trends, and consumer usage information.
New in the third edition is primary research conducted with executives from a variety of industry players such as Gladiator® GarageWorks, Slide-Lok, Hyloft, HandiSolutions, Hafele, BH North America, and Triton Garage.
Also new in the third edition of Garage and Storage Shed Trends in the U.S. are emerging eco-friendly initiatives, new product trends, key products launched in 2007 and 2008, new marketing initiatives and trends, consumer lifestyle trends, updated sales, housing, spending and consumer data through early 2009, and features 48 new and updated company profiles!
“This is a win-win market right now,” says Shelley Carr, associate publisher of SBI. “The high-end of the market, particularly for installed garage systems, is holding up as high income households have been generally less affected by the recession. And, the do-it-yourself segment will do better overall in the near future as the vast majority of consumers are reluctant to spend on bigger ticket items or systems.”
Further, reports SBI, “In a difficult market for selling a home, marketers are stressing that a well organized garage can increase the selling price, and help the homeowner sell more quickly.”
The United States is estimated to be the largest market for garage organization products and sheds. The primary reason is less demand for storage products in the rest of world since there is generally less consumption of goods that require storage, and far less prevalence of garages.
SBI (Specialists in Business Information) publishes research reports in the industrial, energy, building/construction, automotive/transportation and packaging markets. SBI also offers a full range of custom research services.