In the future, there is likely to be an increase in demand for Garage Storage System all over the world, which will push the market for more modern Garage Storage System.
Covid-19 Impact & Market Status
The pandemic has affected the global industrial structure. The disastrous global effects of the coronavirus have been felt by all the industries, and the Garage Storage System industry has also been considerably impacted during this time. However, after 2022, the worldwide Garage Organization and Storage Systems market is likely to stabilize.
Garage Cabinets segment expected to Dominate
Various cabinets, racks, shelves, wall panels, and overhead bins are among the garage storage products available. Customers can utilise such products to conveniently store a variety of objects while maintaining cleanliness and decorum in the garage. Easy access, as well as specialised spaces for specific equipment and tool storage, guarantee that the available space is used to its full potential. With the largest market share, the Garage Cabinets sector is predicted to develop significantly and continue to dominate the global market over the projection period.
Commercial segment expected to be the Most Lucrative
Garage storage and organisation systems are popular in both residential and business settings. The use of such goods allows personnel to have quick access to a variety of tools and materials while performing car repairs and maintenance. In addition, many rental and commercial parking garages use organisation and storage goods to provide its customers with convenience and ease of storage. The segment of the commercial garage storage system is expected to sustain upward growth trend in the forthcoming years. End-users comprising automotive and two-wheeler segments to support global expansion.
North America expected to have Highest Market Share
The North America and Europe regions currently hold the largest market share and are expected to continue to develop and dominate the Global Garage Storage System Market over the forecast period. This is due to the fact that there are high number of garage spaces in those regions.
However, as commercial garages become more popular in most major cities across the world, demand for garage organisation and storage solutions in the commercial sector is projected to rise in the coming years especially in the Asia-Pacific regions.
Cabinets, shelves, wall systems, workbenches, and other garage storage options can help you keep your items organised, safe, and ready to go.
Users can use garage storage systems to properly store and manage their items within their garage area. The garage area within single-family homes has evolved over time from a simple automobile parking space to a large storage room that may contain a variety of different vehicles, equipment, and tools used for both leisure and occupational purposes.
The garage storage systems market is predicted to grow from USD 1052.6 million in 2022 to about USD 1507.8 million by 2029 at a Compound Annual Growth Rate (CAGR) of 4.6 percent during the forecast period 2022-2029.
Motorcycles, bicycles, golf carts, small boats, surf boards, and skateboards are among the most frequent vehicles parked in garages, aside from cars. Furthermore, people also may keep their lawn mowers and other lawn related equipment in the garage. In addition, they may keep refrigerator, gardening tools, shoe closet and other maintenance products in their garages.
With the necessity to store such a diverse range of vehicles, equipment, and supplies, effective garage storage solutions have become increasingly important. Users can easily organise their stuff in an optimal and convenient manner using garage storage methods.
Increasing garage expenditures, increased competition, new product launches, retrofitting and renovation of old technologies, and increased acceptance of Garage Storage Systems will all contribute to the market's growth all over the world.
Latest Innovations in the Garage Storage Systems Market: A Snapshot
- Lat year in April, Gladiator had successfully launched Beverage Cooler range to support seamless home and garage management and organization. The capacity of the latest cooler was bracketed to 15412 once and provides a relief to merciless summers, ensuring high durability and excellent functional outcome. Features such as extra storage and extreme heat resistance add to its feature attraction, allowing further leap in the global garage storage system market growth.
Garage Storage System Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 1507.8 million|
|Growth Rate||CAGR of 4.6% during 2021-2028|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and South Africa|
|Key Players Profiled||The top companies that hold the market share in garage storage system market are Gladiator, GarageTek, ClosetMaid, Rubbermaid, Sterilite, Stack-On, Craftsman, Organized Living, Black and Decker.|
Key Segments of the Garage Storage Systems Market
Type Overview, 2022-2029 (USD Million)
- Garage Cabinets
- Garage Shelves & Racks
- Garage Wall Organization
Application Overview, 2022-2029 (USD Million)
Regional Overview, 2022-2029 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa