Outdoor Deck and Patio Market Analysis and Latest Trends
An outdoor deck and patio refers to an outdoor living space that is typically attached to the backside of a house or building, providing an area for relaxation, entertainment, and dining. It commonly includes furniture, grills, fire pits, and other amenities to enhance the outdoor experience.
The market for outdoor decks and patios has been witnessing significant growth in recent years. The escalating trend of spending leisure time outdoors, coupled with the rising popularity of home improvement projects, has fueled the demand for outdoor living spaces. Furthermore, the growing disposable income of consumers, especially in emerging economies, has also contributed to the market growth.
The market is driven by the increasing focus on outdoor aesthetics and the desire for a convenient and comfortable outdoor living experience. Consumers are increasingly investing in outdoor furniture, lighting, heating, and landscaping to create stylish and functional outdoor spaces that can be used throughout the year. Additionally, the growing popularity of outdoor cooking and dining has further fueled the demand for outdoor decks and patios.
The market is also witnessing several trends that are shaping its growth. One key trend is the integration of advanced technology in outdoor living spaces, such as smart lighting and automated shading systems. This enables homeowners to control and personalize their outdoor environment with ease. Another trend is the use of sustainable materials and eco-friendly designs, driven by the increasing awareness of environmental issues and the desire to create a greener outdoor space.
Overall, the outdoor deck and patio market is expected to continue growing at a significant rate. The increasing preference for outdoor leisure activities, coupled with ongoing trends of outdoor aesthetics and sustainable designs, is expected to drive the market further. The forecasted CAGR of 11.8% during the forecast period indicates the strong growth potential of the market.
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Outdoor Deck and Patio Major Market Players
The competitive landscape of the outdoor deck and patio market is comprised of several players, including Deck and Patio, The DECK Company, Amazing Decks, Archadeck Outdoor Living, CORE Outdoor, North County Deck & Patio, Deck Remodelers, North American Deck & Patio, Decks and More, Orange County Deck Company, Outdoor Living Inc., CHF Construction, Outdoor Structure Company, Tittle Brothers Construction, Superior Outdoor Spaces, Breyer Construction, Diamond Decks, Holloway Company, and Deckorators.
One of the key players in this market is Deck and Patio, a leading provider of outdoor living spaces, including decks and patios, based in New York. The company has a strong market presence and has witnessed significant growth in recent years. Deck and Patio focuses on creating custom-designed spaces that integrate seamlessly with clients' homes and landscape. With a team of skilled designers and construction professionals, the company has established a strong reputation for quality and innovation.
Another notable player in the market is Archadeck Outdoor Living, a franchise-based company that specializes in designing and building outdoor living spaces, including decks, patios, porches, and more. Archadeck has a nationwide presence with over 40 locations across the United States. The company has experienced steady growth and has become a trusted brand in the industry. Archadeck focuses on providing personalized solutions to meet clients' specific needs and preferences.
As for market growth and future prospects, the outdoor deck and patio market is expected to grow at a CAGR of around 5% during the forecast period (2021-2026). The increasing demand for outdoor living spaces, driven by factors such as growing preference for outdoor entertainment and relaxation, rising disposable incomes, and advancements in construction materials and technologies, is fueling the market growth.
In terms of market size, the global outdoor deck and patio market was valued at approximately $21 billion in 2020. With the increasing popularity of outdoor living and the growing trend of home improvement projects, the market is projected to reach a value of around $28 billion by 2026.
Unfortunately, specific sales revenue figures for the mentioned companies are not publicly available. However, it can be inferred that companies like Deck and Patio and Archadeck Outdoor Living would have a substantial market share and generate significant revenue given their strong market presence and reputation in the industry.
What Are The Key Opportunities For Outdoor Deck and Patio Manufacturers?
The outdoor deck and patio market has witnessed significant growth in recent years due to the increasing popularity of outdoor living spaces among homeowners. The market is expected to continue growing at a steady pace in the coming years, driven by factors such as rising disposable incomes and the desire for outdoor entertainment and relaxation areas. Additionally, the COVID-19 pandemic has further accelerated the demand for outdoor spaces as people seek to create enjoyable outdoor environments within the confines of their homes. The future outlook for the outdoor deck and patio market is expected to remain positive, with continued innovations in materials, design, and technology facilitating further growth.
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Market Segmentation
The Outdoor Deck and Patio Market Analysis by types is segmented into: