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North America Garage Furniture Market is Expected to Grow at a CAGR of 2.2% During the Forecast Year Till 2027

·6-min read

Dublin, Oct. 01, 2021 (GLOBE NEWSWIRE) -- The "North America Garage Furniture Market, By Product Type (Storage Solutions, Shelves & Racks, Tool Storage, Work Benches, Chairs & Stools, Pit Stop Furniture), Material (Metal, Wire, MDF, Plastic, Wood), Application (Heavy Duty, General), Distribution Channels, End-user - Forecast " report has been added to ResearchAndMarkets.com's offering.

The North America garage furniture market is valued at a market size of USD 700.9 Million in 2020 and is expected to reach USD 816.2 Million by 2027. The North America garage furniture market is anticipated to grow at a CAGR of 2.2% over the forecast period

Garage furniture includes organizers, storage shelves, chairs and stools, pit stop furniture among others, used with the purpose to organize, carry, and protect tools to increase productivity in the garage area. Increasing demand for garage furniture products by the automobile industry is expected to result in market growth.

The North America garage furniture market is highly fragmented, with the presence of big and small players across various countries. This results in increased competition in the market. Market players are continuously focusing on geographical expansions & strategic partnerships, in order to increase their client base.

Growth Influencers

Growing DIY (Do It Yourself) trend on social media

DIY trend on social media is one of the most important factors attributing to the increased demand for garage furniture in North America. Instagram and YouTube videos are trending among the young population.

Increased number of independent garages to fuel the market growth

The majority of the population utilize independent garages. Independent garages offer services with lesser cost as compared to the authorized garages. Due to which, the vehicle owners prefer independent garages for routine maintenance, oil check-ups, among others. Due to an increased number of independent garages, the demand for garage furniture is also growing in North America.

Segments Overview

The North America garage furniture market is segmented into product type, material, application, distribution channels, and end-user.

By Product Type

  • Storage Solutions (cabinets)

  • General Storage

  • Drawer Cabinets

  • Overhead Storage

  • Tall Cabinets

  • Shelves & Racks

  • Tool Storage

  • Work Benches

  • Chairs & Stools

  • Pit Stop Furniture

On the basis of product type, the tool storage segment is estimated to capture the largest share of more than 32% in the year 2020. Furthermore, storage solutions segment is expected to capture the second largest share of North America garage furniture market.

By Material

  • Metal

  • Wire

  • MDF

  • Plastic

  • Wood

Based on material, metal segment captured the largest share of North America garage furniture market, in 2020. The segment is forecasted to be valued at a market size of USD 246 Million by 2025. Whereas, plastic segment is anticipated to grow at a highest rate, during the forecast period.

By Application

  • Heavy Duty

  • General

On the basis of application, general segmented is estimated to dominate the market in the 2020, and is expected to continue this dominance during the forecast period.

By Distribution Channels

  • Direct Sales (B2B)

  • Wholesale Distributors

  • Retail Stores

  • E-commerce

On the basis of distribution channels, e-commerce segment is estimated to dominate the market, with a share of more than 30% in 2020.

By End-user

  • Residential

  • Vehicle Service Centers/ Garages

  • Automotive Dealerships

  • General Service Garages

  • Automotive OEMs

Based on end user segment, the residential segment is estimated to dominate the market with a share of around 90% in the year 2020. Increased DIY is one of the most important factors attribute to the dominance of residential segment.

Geographic Analysis

On the basis of geography, the North America garage furniture market is segmented into U.S., Canada, and Mexico. The U.S. is expected to dominate the North America garage furniture market in 2020, and is expected to continue this dominance during the forecast period. The presence of the world's biggest automotive market is one of the most important factors attributed to this dominance

Competitive Landscape

Key players operating in the North America garage furniture market include Homak Mfg Co Inc, Intro-Tech (Pitstop furniture), ATD Tools, Inc., Connected Automotive Systems (OEMTools.com), Apex Tool Group (Gear Wrench), Stanley Black & Decker, Inc., Dura Ltd., Cipher Auto Inc., OMP Group, Harwal Group of Companies (Duramax), among others.

Key market players are actively engaged in strategic partnerships, mergers and acquisitions, new product development, and innovation to increase their presence in the North America garage furniture market.

The North America garage furniture market report offers insights on the below pointers:

  • Market Penetration: The research report provides comprehensive data on the market offered by the prominent players

  • Market Development: The report offers detailed analysis about emerging markets and examines penetration across mature segments of the markets

  • Market Diversification: The research report offers comprehensive information about untapped geographies, recent developments, and investments

  • Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches, collaborations in the market have been provided in this research report. In addition, the report also includes a SWOT analysis of the leading market players.

The North America garage furniture market `report answers questions such as:

  • What is the market size and forecast of the North America garage furniture market`?

  • What are the inhibiting factors and impact of COVID-19 on the North America garage furniture market during the assessment period?

  • Which are the products/segments/applications to invest in over the assessment period in the North America garage furniture market?

  • What are the technology trends in the North America garage furniture market?

  • What strategies are considered favourable for entering the North America garage furniture market?

Key Topics Covered:

  • Chapter 1. Research Framework

  • Chapter 2. Research Methodology

  • Chapter 3. Executive Summary: North America Garage Furniture Market

  • Chapter 4. North America Garage Furniture Market Overview

  • Chapter 5. North America Garage Furniture Market Analysis, By Product Type

  • Chapter 6. North America Garage Furniture Market Analysis, By Material

  • Chapter 7. North America Garage Furniture Market Analysis, By Application

  • Chapter 8. North America Garage Furniture Market Analysis, By Distribution Channel

  • Chapter 9. North America Garage Furniture Market Analysis, By End-user

  • Chapter 10. North America Garage Furniture Market Analysis, By Region/Country

  • Chapter 11. The U.S. Garage Furniture Market Analysis

  • Chapter 12. Company Profile (Company Overview, Financial Matrix, Key Product landscape, Key Personnel, Key Competitors, Contact Address, and Business Strategy Outlook)

Companies Mentioned

  • Homak Mfg Co Inc

  • Intro-Tech (Pitstop furniture)

  • ATD Tools, Inc.

  • Connected Automotive Systems (OEMTools.com)

  • Apex Tool Group (Gear Wrench)

  • Black and Decker

  • Dura Ltd.

  • Cipher Auto Inc.

  • OMP Group

  • Harwal Group of Companies (Duramax)

  • Other players

For more information about this report visit https://www.researchandmarkets.com/r/f93nw6


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