Global Wooden Decking Market is expected to grow at a CAGR of 1.40% during the forecast period. Wooden Decking Market is expected to reach USD 8.49 Bn. by 2027.
Wooden Decking Market Overview:
The Wooden Decking market research provides a comprehensive perspective of the competition, including the market share and company profiles of the top players in the global industry. The scope of the research covers a thorough examination of the Wooden Decking Market, as well as the causes for variances in the industry’s growth in a variety of sectors.
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Market Scope:
Top-down and bottom-up approaches are used to validate the market size and estimate the market size by different segments. The market estimations in the research are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). The percentage splits, market shares, and segment breakdowns are computed using weights assigned to each segment based on usage rate and average sale price. To determine the country-wise splits of the overall market and its sub-segments, the percentage adoption or usage of the given market Size in the relevant area or nation is employed.
Segmentation: It is anticipated that the residential sector will control the market. The residential market is predicted to have an increasing preference for wood decking, which will add to the market’s dominant position. The demand for wooden decking is predicted to rise as consumer lifestyles change and disposable money rises.
Key Players:
Secondary research is used to identify market leaders, while primary and secondary research is used to establish market revenue. Secondary research comprised a review of the leading manufacturers’ annual and financial reports, whilst primary research included thorough interviews with key opinion leaders and industry specialists such as experienced front-line personnel, CEOs, and marketing executives. Secondary sources are used to calculate percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then validated using primary sources.
The biggest players in the Wooden Decking market are as follows:
- • West Fraser Timber Co. Ltd
• Universal Forest Products, Inc.
• Metsa Group
• Setra Group
• James Latham plc.
• Mohawk Industries, Inc.
• UPM-Kymmene Corporation
• Weyerhaeuser Company
• Universal Forest Products, Inc.
• Cox Industries Inc.
• Humboldt Redwood Company
• Mendocino Redwood Company
• Vetedy Group
• Trex Company, Inc.
• Shaw Industries Group, Inc.
• Danzer
Regional Analysis:
Individual market influencing components and changes in market legislation that affect current and future market trends are also covered in the Wooden Decking market study’s regional overview. Current and future trends are investigated in order to analyze the overall market potential and find profitable patterns in order to get a more firm footing. The geographical market evaluation is based on the current environment and anticipated trends.
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COVID-19 Impact Analysis on Wooden Decking Market:
End-user industries where Wooden Decking are utilized saw a decline in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, and the United States, as well as Spain, France, and India, due to a pause in operations. This resulted in a significant drop in the revenues of enterprises in these industries, as well as in demand for Wooden Decking manufacturers, affecting the Wooden Decking market’s growth in 2020. End-user business demand for Wooden Decking has plummeted as a result of lockdowns and an increase in COVID-19 events throughout the world.
Key Questions Answered in the Wooden Decking Market Report are:
- In 2021, which segment accounted for the most share of the Wooden Decking market?
- What is the competitive landscape of the Wooden Decking market?
- What are the key factors influencing Wooden Decking market growth?
- In the Wooden Decking market, which region has the most market share?
- What will be the CAGR of the Wooden Decking market during the forecast period (2022-2027)?
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