What are the benefits of Garage Organization and Storage Systems?
The various benefits of garage organization and storage systems, such as improved safety, clutter reduction, and increased home value, are anticipated to aid the market growth during the forecast period. In addition, garage storage systems offer security and space to protect various products and tools instead of leaving them reachable on a floor or the shelf. Furthermore, these systems also provide security for homes with small children. Moreover, it offers extra space for garages by removing cluster messes in the garages which occupy the most space. Thus, these benefits are expected to raise the demand for garage organization and storage systems during the forecast period.
What are the Market Size of Garage Organization and Storage Systems Regarding Value?
The global garage organization and storage systems market is projected to increase at a significant CAGR of xx% in the coming years. In 2021, the international garage organization and storage systems market was valued at USD xx million and projected to reach USD xx million by 2028. The demand for garage organization and storage systems is projected to increase substantially in the coming years. It is presumed to generate revenue opportunities for the key industry players worth USD xx million over the forecast period.
What are the Price Trends for Garage Organization and Storage Systems?
The price of garage organization and storage systems is increasing year by year. As the average price was approximately USD 720 per unit in January 2017, it reached USD 1455 per unit in October 2021. This is due to limited supply and massive demand for garage organization and storage systems across the globe. The garage organization and storage systems prices remained elevated in North America and other regions due to the lack of supply of raw materials such as metals, iron, steel, and others. Besides, in the North American area, the garage organization and storage systems prices witnessed volatile behavior owing to mixed market sentiments in the region.
Interesting Facts about Garage Organization and Storage Systems Industry
The top countries in the global garage organization and storage systems market are the U.S., Germany, the U.K., China, and Japan.
The major driving factors for the garage organization and storage systems market are the easy accessibility and the benefits of garage storage systems.
The fluctuation of raw material prices and lack of awareness regarding storage systems are the major restraints for the market, which hinder the market's growth during the forecast period.
In the type segment, the garage cabinet sector dominates the market due to the increasing population globally, which supports the growth of this sector during the forecast period.
In the region segment, North America dominates the market owing to the increasing construction activities in the countries, and it also grows with the highest CAGR during the forecast period.
Who are the Top 10 players/companies in the Garage Organization and Storage Systems market regarding revenue and size?
The key market players in the global garage organization and storage systems market are GarageTek, Gladiator, Rubbermaid, Closet Maid, Sterilite, Craftsman, Stack-On, Organized Living, Fleximounts, Black and Decker, Kobalt, Monkey Bars, Sandusky Lee, NewAge Products, Seville Classics, Prepac Manufacturing, Flow Wall, and Dateline. In the current scenario, these market players focus on expanding the global market and increasing customer reach. Furthermore, the companies launching new products and developing innovations in the production equipment further boost the market growth during the forecast period. For instance, in June 2022, Sterilite launched the Sterilite Stack & Carry 3 Layer Handle Box is suitable for large and small craft product handling and creates more space in the garage.
Who are the Top 10 Countries in the Garage Organization and Storage Systems Market?
The U.S., Canada, Germany, France, the UK, Spain, China, Japan, India, and Brazil are the top 10 countries in the global garage organization and storage systems market. In addition, the U.S. dominates the market in the countries mentioned above due to the consumption and production of garage organization and storage systems. Furthermore, market players in the U.S. are expected to drive the market during the forecast period due to new product launches and advancements. Moreover, in developed economies, the market is predicted to grow owing to the high demand for garage organization and storage products for their benefits, including safety, providing extra space, and others, during the forecast period. Apart from that, developing economies such as India, China, and others are expected to drive the market due to the rising awareness regarding garage organization and storage systems.
What is the Type in the Garage Organization and Storage Systems Market?
By type, the segment is divided into garage cabinets, garage shelves & racks, garage wall organization, and others. In 2021, the garage cabinets segment dominated the market in terms of market share and revenue. The high demand for garage cabinets due to the necessity to maintain safety and cleanliness in the garage supports the growth of this segment. Furthermore, the increasing residential construction all over the world is also one of the significant factors for the growing demand for garage cabinets, which in turn enhances the market growth during the forecast period.
What are the Major Driving Factors for Garage Organization and Storage Systems Market?
The driving factors for garage organization and storage systems market are easy accessibility and different sizes of sections for other products and tool storage to ensure that available space is used to its full potential. Garage organization and storage systems are used mainly in commercial and residential premises. These storage products are widely used in different motorcycle and automotive workshops in the retail sector. Furthermore, many commercial and rented parking garages use these products to provide their users with easy storage and convenience. Therefore, these factors are expected to drive the global garage organization and storage systems market.
What are the Major Restraints for Garage Organization and Storage Systems Market?
The garage organization and storage systems are manufactured with different raw materials such as plastic, iron, steel, wood, and others. During the anticipated period, the market's growth is anticipated to be hampered by the fluctuation in raw material prices. Furthermore, a lack of awareness in developing and undeveloped economies also restrain the market growth in the coming years.
Which Region Dominated the Global Garage Organization and Storage Systems Market?
In terms of revenue, North America dominates the market for garage organization and storage solutions. The presence of market players and increased consumption and production of garage organization and storage systems support the growth of the North American region. Furthermore, the U.S. is the most significant contributor to the North American area due to the high consumption of products. According to the Home Innovations Annual Consumer Practices Survey, the purchase of storage products increased by 10% in the past two years in the U.S. In addition, it mentioned that about 108 million linear feet of garage storage were installed in U.S. houses. Moreover, Canada and Mexico also grew at a significant CAGR during the forecast period due to the expansion of market players and increased demand for garage storage products.
Apart from that, Asia-Pacific and Europe also captured a significant market share due to the increased consumption of garage storage systems in these regions. In addition, the rising disposable income and expanding construction industry in these regions is expected to support the global garage organization and storage systems market expansion during the forecast period.
Segmentation of Global Garage Organization and Storage Systems Market-
Global Garage Organization and Storage Systems Market – By Type
Garage cabinets
Garage shelves and racks
Garage wall organization
Others
Global Garage Organization and Storage Systems Market – By Application
Commercial
Residential
Frequently asked questions about the global Garage Organization and Storage Systems industry
The garage organization and storage systems market also suffered from COVID 19 pandemic, which resulted in the decline of a significant amount in revenue generated in 2020
North American region accounted for the highest share in the global garage organization and storage systems market in terms of Value and volume.
The easy accessibility and urbanization of cities are the major factors driving the market growth.
Garage cabinets had captured a major share in 2021 with a significant market revenue share. Besides, it is also projected to witness the fastest growth.
Commercial had captured a significant share in the global market in 2021 and is projected to continue its dominance over the forecast period.
