SAN FRANCISCO, Sept. 17, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Outdoor Furniture - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 20; Released: April 2021
Executive Pool: 6349
Companies: 152 - Players covered include Ace Hardware; Adams Manufacturing; Agio International Co., ; Barbeques Galore; Brown Jordan; Casual Living; Century Furniture; DEDON; Emu Group S.p.A.; Forever Patio; Hartman; Heritage Home Group; Homecrest Outdoor Living LLC; KETTAL Group; Royal Botania NV; The Home Depot Inc.; The Keter Group; Treasure Garden Inc.; Trex Company Inc.; Winston Furniture Co. Inc.; Yotrio Corp. and Others.
Coverage: All major geographies and key segments
Segments: Material Type (Wood, Plastic, Metal, Other Material Types); Product Type (Seating Sets, Chairs, Tables, Dining Sets, Other Product Types); End-Use (Residential, Commercial)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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Global Outdoor Furniture Market to Reach $22 Billion by 2026
Amid the COVID-19 crisis, the global market for Outdoor Furniture estimated at US$17.1 Billion in the year 2020, is projected to reach a revised size of US$22 Billion by 2026, growing at a CAGR of 4.3% over the analysis period. Wood, one of the segments analyzed in the report, is projected to record a 4.4% CAGR and reach US$13.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Plastic segment is readjusted to a revised 4.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $4.8 Billion in 2021, While China is Forecast to Reach $4.6 Billion by 2026
The Outdoor Furniture market in the U.S. is estimated at US$4.8 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.6 Billion by the year 2026 trailing a CAGR of 7.6% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.4% and 3.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.2% CAGR.
Metal Segment to Reach US$3.4 Billion by the year 2026
In the global Metal segment, USA, Canada, Japan, China and Europe will drive the 3.2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$2 Billion in the year 2020 will reach a projected size of US$2.5 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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