Garage Organization and Storage Market Share, Size, Trends, Industry Analysis Report, By (Garage Cabinets, Garage Shelves/Racks, Garage Wall Organization); By Application; By Region; Segment Forecast, 2024 - 2032
- Published Date:Jan-2024
- Pages: 117
- Format: PDF
- Report ID: PM3201
- Base Year: 2023
- Historical Data: 2019-2023
Report Outlook
The global garage organization and storage market size and share is projected to witness robust growth. It was valued at USD 25.25 billion in 2023 and is projected to grow to USD 47.81 billion by 2032, exhibiting a CAGR of 7.4% over the forecast period, 2024-2032.
Disposable income plays a major role while coming to the consumption of goods and services in the world. India is a developing country; it is noticed that the disposable income for India is increasing day by day. According to trading economics data, Indian disposable income is growing from the twentieth century but a slight downward trend was observed in the year 2020 due to COVID-19, still, there is a larger scope for the rise of disposable income in the upcoming years in India. This will create further demand for home improvement and garage organization and storage market. Homeowners are increasingly using items like shelving, cupboards, and storage systems for their garages as part of their efforts to make their houses better and make the spaces more useful.
Back in the day, the primary role of garages was a shelter for automobiles. But today, garages have evolved to take the form of versatile storage hubs. Along with accommodating vehicles, these spaces act as a storage hub for a variety of tools and equipment. Also, individuals may use garages to store items like holiday decorations and campaign gear. However, the clutter in garages may easily get out of control. And this is why garage organization and storage are important.
Garage organization and storage equipment can take the form of storage racks, cabinets, pegboards, track systems, tool chests, workbenches, wall hooks, and more. Garage storage racks are frameworks often made of wires, bars, or pegs and used for the placement of products, with workbenches providing surface and storage space that can be highly useful for DIY projects. Wall hooks are useful for hanging bicycles and other sports gear. The rising focus on decluttering and minimalism, the growing trend of home renovation, and the booming home improvement market are the primary factors fueling the garage organization and storage market demand.
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The rise in automobile ownership and rising disposable income, particularly in high-income nations, are the main factors fueling the expansion of the global sector. Customers can neatly and conveniently separate their possessions using the garage organization and storage methods. In standalone homes, the garage area has developed over time from a simple automobile parking area to a sizable storage room that might house various vehicles, tools, and equipment used for both leisure and employment purposes.
Despite the pandemic, home improvement projects are still expanding steadily. The COVID-19 pandemic had a significant effect on several businesses and industries. While many companies struggled to stay open throughout the epidemic, the self-storage sector saw a rise in demand for extra space. Most businesses used the work-from-home concept throughout the pandemic, which further fueled industry expansion. During the epidemic, several businesses in the sector noticed a surge in product demand from customers looking to brighten up garages and other storage units.
The garage organization and storage market report details key market dynamics to help industry players align their business strategies with current and future trends. It examines technological advances and breakthroughs in the industry and their impact on the market presence. Furthermore, a detailed regional analysis of the industry at the local, national, and global levels has been provided.
Industry Dynamics
Growth Drivers
There are several factors that are driving the growth of the garage organization and storage market. The home improvement market is growing globally, and this is driving demand for garage organization and storage products. As homeowners look to improve their homes and create more functional spaces, they are increasingly turning to products such as shelving, cabinets, and storage systems for their garages. Increase in home ownership fuels the growth of the market. As more people own homes, they are looking for ways to improve and organize the space in their garages.
Rising trend of DIY and home renovation will further fuel the growth of the market. As the trend of DIY and home renovation is growing globally, and this is also driving demand for garage organization and storage products.
Increasing focus on decluttering and minimalism will further create a wide range of opportunities for the growth of the market. The focus on decluttering and minimalism is growing among consumers, which is driving the demand for garage organization and storage products. Innovation and product development will create a wide range of opportunities to the market As the manufacturers are focusing on the innovation and product development of the garage organization and storage products which is driving the market growth.
Report Segmentation
The market is primarily segmented based on type, application, and region.
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By Type |
By Application |
By Region |
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Garage Cabinets is expected to witness the fastest growth over the forecast period
Garage Cabinets accounted for the highest growth in upcoming years. Assorted and customizable cabinets are growing in popularity, which is expected to increase demand for these goods over the projection period. These items allow customers to easily store a range of items while maintaining garage organization.
Over the projected period, the shelves/racks type is anticipated to experience significant consumer demand and post a consistent CAGR. One of the main drivers of the segment's growth is online discounts on numerous websites. Additionally, it is projected that escalating consumer demand for personalized goods will hasten the expansion of the product line. The result of manufacturers creating distinctive things with great efficiency and diversity as a result of technical advancements is shorter lead times. This should promote industry expansion.
Residential segment accounted for the largest market share in 2022
With rising residential construction activities throughout the world and an increase in the number of garage construction, the residential segment is anticipated to experience strong product penetration in the upcoming years. Due to the increasing government-sponsored real estate construction projects, particularly in metropolitan areas, the residential application segment is anticipated to experience substantial demand for these goods over the forecast period.
Over the projected period, the commercial application category is expected to grow at the quickest rate. In order to offer convenience and ease of storage to their clients, many rental and commercial parking garages use organizing and storage goods. Increasing vehicle sales nationwide are expected to increase construction spending on commercial parking lots and garages over the forecast period, according to statistics provided by the U.S. Census Bureau. As a result, the demand for these products in commercial settings is predicted to grow.
The demand in North America is expected to witness significant growth
North America is a significant market for garage organization and storage products, and there are several factors that are impacting the growth of this market in the region. Growing home improvement market is one of the factors of market growth. The home improvement market in North America is growing, and this is driving demand for garage organization and storage products. The rate of home ownership in North America is high, and this is driving demand for garage organization and storage products. As more people own homes, they are looking for ways to improve and organize the space in their garages.
The trend of DIY and home renovation is growing in North America, and this is also driving demand for garage organization and storage products. As more people take on home improvement projects, they are looking for products to help them organize and improve the functionality of their garages. The e-commerce market in North America is growing, and this is impacting the growth of the garage organization and storage market. Online retailers are making it easier for consumers to purchase garage organization and storage products, which is driving sales in the market. The construction industry in North America is growing, and this is also impacting the growth of the garage organization and storage market. As more homes are built and remodeled, there is a greater demand for products to organize and improve the functionality of garages.
Competitive Insight
Some of the major players operating in the global market include Gladiator, GarageTek, Sterilite Corporation, Lowe's Companies, ClosetMaid Corp., Monkey Bars Storage, Rubbermaid Commercial Products, Stanley Black & Decker, Alpha Guardian and Cannon Security.
Recent Developments
- In April 2022, Bulldog Garage introduced its epoxy, epoxy chips, & storage systems at Lowe's for its customers.
- In November 2021, Gladiator introduced a premium pre-assembled 7-drawer modular tool storage cabinet. The item is made to offer a sturdy storage system that fits workshops or garages.
Garage Organization And Storage Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 27.07 billion |
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Revenue Forecast in 2032 |
USD 47.81 billion |
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CAGR |
7.4% from 2024 - 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 - 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments Covered |
By Type, By Application, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key Companies |
Gladiator, GarageTek, Sterilite Corporation, Stanley Black & Decker, Lowe's Companies, ClosetMaid Corporation, Monkey Bars Storage Company, Rubbermaid Commercial Products LLC, Alpha Guardian and Cannon Security Products. |
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FAQ's
The global garage organization and storage market size is expected to reach USD 47.81 billion by 2032.
Key players in the garage organization and storage market are Gladiator, GarageTek, Sterilite Corporation, Lowe's Companies, ClosetMaid Corp., Monkey Bars Storage, Rubbermaid Commercial Products, Stanley Black & Decker, Alpha Guardian and Cannon Security Products.
North America contribute notably towards the global garage organization and storage market.
The global garage organization and storage market expected to grow at a CAGR of 7.3% during the forecast period.
The garage organization and storage market report covering key segments are type, application and region.
