Increase in the number of vehicle owners and rising disposable income, especially in high-income countries, are factors driving the global garage organization & storage market in the forecast period 2024-2028.
As outlined in the TechSci Research report titled “Global Garage Organization & Storage Market– Global Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F,” the modern garage has undergone a significant transformation from its original role of merely housing vehicles. Presently, it functions as a versatile space accommodating diverse activities, ranging from storage and workshops to recreational pursuits and even additional living areas. This evolution has spurred the development of the garage organization and storage market, a dynamic industry continually adapting to provide innovative solutions, enabling homeowners to optimize their garage spaces.
The garage organization and storage market encompass a wide array of products and solutions designed to enhance the functionality and efficiency of garage spaces. These solutions vary from basic shelving units and wall hooks to advanced modular storage systems equipped with smart technology. Catering to homeowners seeking to declutter their garages, create organized workspaces, and maximize available space utility, the market addresses a broad spectrum of consumers, including DIY enthusiasts and those opting for professionally installed solutions, with diverse needs and budgets.
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The shift towards utilizing garages for purposes beyond car parking constitutes a major driving force. Homeowners are converting their garages into workshops, fitness spaces, home offices, and entertainment areas, necessitating innovative storage solutions capable of accommodating a variety of items and activities. The scarcity of storage space in modern homes prompts individuals to optimize their garages, turning them into prime storage areas for tools, equipment, seasonal items, and recreational gear.
The garage organization and storage market’s growth is propelled by the do-it-yourself (DIY) movement. Consumers increasingly seek installable and customizable solutions, driving the popularity of modular and easy-to-assemble storage systems. The ease of online shopping significantly influences market growth, enabling consumers to browse and purchase a wide array of garage organization products online, including shelves, cabinets, specialized tool racks, and overhead storage solutions.
The emergence of smart technology in garage organization and storage solutions is a burgeoning trend, offering features like remote control, inventory tracking, and automated organization. This appeals to tech-savvy consumers seeking enhanced convenience. With growing environmental awareness, consumers are inclined towards sustainable and eco-friendly products, prompting manufacturers to use recycled materials and adopt greener production practices.
The garage organization and storage market is poised for sustained growth and innovation to meet evolving consumer needs. Integration of advanced technologies such as artificial intelligence and machine learning may lead to more intelligent and adaptive storage solutions. Sustainability remains a priority, leading manufacturers to explore greener materials and methods. Additionally, customization options and modular systems are expected to become more sophisticated, allowing precise design of garage spaces by homeowners.
The global garage organization & storage market is segmented by type, application, and region. In terms of application, the residential segment dominated revenue in 2022 and is expected to experience strong penetration in the future, driven by increased residential construction globally. The residential segment anticipates substantial demand due to government-sponsored real estate projects, particularly in urban areas. North America led the global industry in 2022, with an inflexible supply chain and steady demand for sustainable products, reflecting consumer preferences for ethically sourced materials throughout the production process.
Key market players operating in the global Garage Organization & Storage market include:
- Gladiator
- GarageTek Inc.
- Sterilite Corp.
- Stanley Black & Decker
- Lowe’s Companies Inc.
- ClosetMaid Corp.
- Monkey Bars Storage Company
- Rubbermaid Commercial Products LLC
- Alpha Guardian
- Cannon Security Products
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“The robust growth in the garage organization and storage market can be attributed to a confluence of factors. These factors encompass shifting lifestyles, evolving trends in home improvement, technological advancements, the imperative for space efficiency, and the inclination to optimize underutilized spaces within homes. As the market expands further, manufacturers are expected to concentrate on devising innovative, adaptable, and personalized solutions that cater to the diverse needs and preferences of homeowners. Mr. Karan Chechi, Research Director at TechSci Research, a research-based global management consulting firm, emphasizes the escalating importance of well-organized and efficient garage spaces in contemporary living environments.
The report titled ‘Garage Organization & Storage Market– Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F,’ segmented by type (Garage Cabinets, Garage Shelves/Racks, Garage Wall Organization) and application (Residential, Commercial), and analyzed by region, competition forecast, and opportunities for the period 2018-2028F, assesses the future growth potential of the global garage organization & storage market. It furnishes statistics and information on market structure, size, share, and future growth, providing cutting-edge market intelligence to aid decision-makers in making informed investment decisions. Additionally, the report identifies emerging trends, as well as the crucial drivers, challenges, and opportunities within the global market for garage organization & storage.”
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