Analysts’ Viewpoint
Increase in modernization and urbanization is primarily driving the North America home storage market. Rise in disposable income of the people and growth in home renovation projects are also key factors that are fueling the demand for modern home storage solutions in the region. Furthermore, expansion in the e-commerce sector is boosting North America home storage market dynamics.
Manufacturers are increasingly focusing on developing sustainable and eco-friendly home storage products to expand their customer base. Leading players are collaborating with other manufacturers or retailers to strengthen their market share and create lucrative home storage market opportunities.
Home storage products are available in a wide range of sizes and materials. These solutions are available in different types of installation, including wall mounted and free standing. Home storage products are widely popular in North America.
Plastic, wood, and metal are used in the production of home storage products. Home storage products can be used for various applications such as living room storage, laundry room, dressing area storage, and multi-purpose home storage furniture.
Increase in population is fueling the demand for the construction of new homes in North America. Thus, rise in number of houses is boosting the demand for home storage solutions. Furthermore, the current trend of home renovation is fueling market dynamics.
Multipurpose and customized storage solutions are gaining popularity among customers in North America. Rise in urbanization, improvement of lifestyle, and increase in spending capacity of consumers are some of the key factors further contributing to the home storage market growth. Rise in construction activities in Texas, New York, California, Florida, and Arizona is also fueling the demand for better storage solutions.
Growth in the e-commerce industry is fueling the market for home storage products. Expansion in online distribution channels is making it convenient for customers to purchase residential storage products. Customers can opt for products of their choice from a wide variety of products available online. According to the U.S. Census Bureau, Department of Commerce, total e-commerce sales stood at US$ 1,034.1 Bn in 2022, an increase of 7.7% (±0.4%) from that in 2021.
E-commerce websites help customers choose products sitting in their homes. They provide an easy and convenient way to select products as per the spending capacity, material preference, and size required. Major brands such as Rubbermaid and American WoodMark distribute their products through giant e-commerce platforms. This is anticipated to fuel North America home storage market development during the forecast period.
In terms of installation, the industry has been bifurcated into wall mounted and free standing. According to the latest North America home storage market research analysis, the free standing installation segment is estimated to account for major share during the forecast period.
Free standing storage does not require to be fitted against the wall. It can be easily moved from one part of the room to another. Thus, free standing home storage is a preferred choice among homeowners. Wall mounted storages, including cabinets, are more expensive to install. Thus, benefits associated with free standing storage make it a popular choice among customers in North America.
In terms of distribution channel, the offline segment is likely to dominate the market during the forecast period. Sales of home storage products are rising in offline distribution channels, including hypermarkets, specialty stores, and other retail stores.
The offline mode allows customers to see and touch the products they wish to purchase. Thus, customers can derive instant satisfaction about the quality of products. However, the online distribution channel segment is projected to gain significant traction in the next few years.
According to the latest home storage market analysis, the U.S. is expected to dominate the business in North America in the near future. The U.S. held major North America home storage market share in 2022.
People in the U.S. seek convenient home storage solutions due to their hectic lifestyle. Rise in disposable income of the people and increase in residential construction are further fueling the demand for domestic storage in the country. Furthermore, growth in trend of renovation and home décor is expected to augment the home storage market size in the U.S. during the forecast period.
According to the North America home storage market research report, the industry is consolidated, with the presence of a few large-scale vendors that control majority of the share. Most firms are following the latest home storage market trends in North America and investing in comprehensive research and development activities, primarily to create environmentally friendly products.
Prominent players are adopting strategies such as new product development, mergers, and collaborations to gain revenue benefits. Wayfair, The Container Store, MasterBrand, Inc., Lowe’s, Rubbermaid, American WoodMark, Target Brands, Inc., Bed Bath & Beyond, IKEA, and ClosetMaid are the leading entities operating in the North America home storage industry.
Each of these players has been profiled in the North America home storage market forecast report based on parameters such as business segments, financial overview, business strategies, company overview, recent developments, and product portfolio.
|
Attribute |
Detail |
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Market Size Value in 2022 |
US$ 42.7 Bn |
|
Market Forecast Value in 2031 |
US$ 65.7 Bn |
|
Growth Rate (CAGR) |
5.1% |
|
Forecast Period |
2023–2031 |
|
Historical Data Available for |
2017–2021 |
|
Quantitative Units |
US$ Bn for Value and Million Units for Volume |
|
Market Analysis |
Qualitative analysis includes drivers, restraints, opportunities, key trends of wet tissue market, Porter’s Five Forces analysis, value chain analysis, SWOT analysis, etc. Furthermore, at the regional level, qualitative analysis includes key trends, and price trend, brand analysis and consumer buying behavior analysis. |
|
Competition Landscape |
|
|
Format |
Electronic (PDF) + Excel |
|
Market Segmentation |
|
|
Country Covered |
|
|
Companies Profiled |
|
|
Customization Scope |
Available upon request |
|
Pricing |
Available upon request |
It was valued at US$ 42.7 Bn in 2022.
It is estimated to grow at a CAGR of 5.1% during 2023 to 2031.
It would be worth US$ 65.7 Bn by 2031.
The free standing installation segment is likely to account for major share during the forecast period.
The U.S. is projected to hold major share during the forecast period.
Population growth and rise in demand for houses, increase in home renovation projects, and expansion in the e-commerce sector.
Wayfair, The Container Store, MasterBrand, Inc., Lowe’s, Rubbermaid, American WoodMark, Target Brands, Inc., Bed Bath & Beyond, IKEA, and ClosetMaid.
1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions
3. Research Methodology
4. Executive Summary
5. Market Overview
5.1. Market Dynamics
5.1.1. Drivers
5.1.2. Restraints
5.1.3. Opportunities
5.2. Key Trends Analysis
5.2.1. Demand Side Analysis
5.2.2. Supply Side Analysis
5.3. Key Market Indicators
5.3.1. Overall Furniture Market Overview
5.4. Porter’s Five Forces Analysis
5.5. Value Chain Analysis
5.6. Industry SWOT Analysis
5.7. Covid-19 Impact Analysis
5.8. North America Home Storage Market Analysis and Forecast, 2017 - 2031
5.8.1. Market Value Projections (US$ Mn)
5.8.2. Market Volume Projections (Million Units)
6. North America Home Storage Market Analysis and Forecast, By Type
6.1. North America Home Storage Market Size (US$ Mn and Million Units) Forecast, By Type, 2017 - 2031
6.1.1. Wardrobes
6.1.2. Cabinets
6.1.3. Drawers
6.1.4. Containers
6.1.5. Others
6.2. Incremental Opportunity, By Type
7. North America Home Storage Market Analysis and Forecast, By Material
7.1. North America Home Storage Market Size (US$ Mn and Million Units) Forecast, By Material, 2017 - 2031
7.1.1. Plastic
7.1.2. Wood
7.1.3. Metal
7.1.4. Others
7.2. Incremental Opportunity, By Material
8. North America Home Storage Market Analysis and Forecast, By Installation
8.1. North America Home Storage Market Size (US$ Mn and Million Units) Forecast, By Installation, 2017 - 2031
8.1.1. Wall Mounted
8.1.2. Free Standing
8.2. Incremental Opportunity, By Installation
9. North America Home Storage Market Analysis and Forecast, By Price
9.1. North America Home Storage Market Size (US$ Mn and Million Units) Forecast, By Price, 2017 - 2031
9.1.1. Below US$ 100
9.1.2. US$ 100 - US$ 200
9.1.3. Above US$ 200
9.2. Incremental Opportunity, By Price
10. North America Home Storage Market Analysis and Forecast, By Distribution Channel
10.1. North America Home Storage Market Size (US$ Mn and Million Units) Forecast, By Distribution Channel, 2017 - 2031
10.1.1. Online
10.1.1.1. E-commerce Websites
10.1.1.2. Company-owned Websites
10.1.2. Offline
10.1.2.1. Supermarkets/Hypermarkets
10.1.2.2. Specialty Stores
10.1.2.3. Other Retail Stores
10.2. Incremental Opportunity, By Distribution Channel
11. North America Home Storage Market Analysis and Forecast, By Country
11.1. North America Home Storage Market Size (US$ Mn and Million Units) Forecast, By Country, 2017 - 2031
11.1.1. U.S.
11.1.2. Canada
11.1.3. Rest of North America
11.2. Incremental Opportunity, By Country
12. U.S. Home Storage Market Analysis and Forecast
12.1. Regional Snapshot
12.2. Key Trend Analysis
12.2.1. Demand Side
12.2.2. Supply Side
12.3. Brand Analysis
12.4. Demographic Overview
12.5. Consumer Buying Behavior Analysis
12.6. Price Trend Analysis
12.6.1. Weighted Average Selling Price (US$)
12.7. Home Storage Market Size (US$ Mn and Million Units) Forecast, By Type, 2017 - 2031
12.7.1. Wardrobes
12.7.2. Cabinets
12.7.3. Drawers
12.7.4. Containers
12.7.5. Others
12.8. Home Storage Market Size (US$ Mn and Million Units) Forecast, By Material, 2017 - 2031
12.8.1. Plastic
12.8.2. Wood
12.8.3. Metal
12.8.4. Others
12.9. Home Storage Market Size (US$ Mn and Million Units) Forecast, By Installation, 2017 - 2031
12.9.1. Wall Mounted
12.9.2. Free Standing
12.10. Home Storage Market Size (US$ Mn and Million Units) Forecast, By Price, 2017 - 2031
12.10.1. Below US$ 100
12.10.2. US$ 100 - US$ 200
12.10.3. Above US$ 200
12.11. Home Storage Market Size (US$ Mn and Million Units) Forecast, By Distribution Channel, 2017 - 2031
12.11.1. Online
12.11.1.1. E-commerce Websites
12.11.1.2. Company-owned Websites
12.11.2. Offline
12.11.2.1. Supermarkets/Hypermarkets
12.11.2.2. Specialty Stores
12.11.2.3. Other Retail Stores
12.12. Incremental Opportunity Analysis
13. Canada Home Storage Market Analysis and Forecast
13.1. Regional Snapshot
13.2. Key Trend Analysis
13.2.1. Demand Side
13.2.2. Supply Side
13.3. Brand Analysis
13.4. Demographic Overview
13.5. Consumer Buying Behavior Analysis
13.6. Price Trend Analysis
13.6.1. Weighted Average Selling Price (US$)
13.7. Home Storage Market Size (US$ Mn and Million Units) Forecast, By Type, 2017 - 2031
13.7.1. Wardrobes
13.7.2. Cabinets
13.7.3. Drawers
13.7.4. Containers
13.7.5. Others
13.8. Home Storage Market Size (US$ Mn and Million Units) Forecast, By Material, 2017 - 2031
13.8.1. Plastic
13.8.2. Wood
13.8.3. Metal
13.8.4. Others
13.9. Home Storage Market Size (US$ Mn and Million Units) Forecast, By Installation, 2017 - 2031
13.9.1. Wall Mounted
13.9.2. Free Standing
13.10. Home Storage Market Size (US$ Mn and Million Units) Forecast, By Price, 2017 - 2031
13.10.1. Below US$ 100
13.10.2. US$ 100 - US$ 200
13.10.3. Above US$ 200
13.11. Home Storage Market Size (US$ Mn and Million Units) Forecast, By Distribution Channel, 2017 - 2031
13.11.1. Online
13.11.1.1. E-commerce Websites
13.11.1.2. Company-owned Websites
13.11.2. Offline
13.11.2.1. Supermarkets/Hypermarkets
13.11.2.2. Specialty Stores
13.11.2.3. Other Retail Stores
13.12. Incremental Opportunity Analysis
14. Competition Landscape
14.1. Market Player – Competition Dashboard
14.2. Market Share Analysis-2022 (%)
14.3. Company Profiles (Details – Company Overview, Sales Area/Geographical Presence, Financial/Revenue (Segmental Revenue), Strategy & Business Overview, Sales Channel Analysis, Product Portfolio & Pricing)
14.3.1. Wayfair
14.3.1.1. Company Overview
14.3.1.2. Sales Area/Geographical Presence
14.3.1.3. Financial/Revenue (Segmental Revenue)
14.3.1.4. Strategy & Business Overview
14.3.1.5. Sales Channel Analysis
14.3.1.6. Product Portfolio & Pricing
14.3.2. The Container Store
14.3.2.1. Company Overview
14.3.2.2. Sales Area/Geographical Presence
14.3.2.3. Financial/Revenue (Segmental Revenue)
14.3.2.4. Strategy & Business Overview
14.3.2.5. Sales Channel Analysis
14.3.2.6. Product Portfolio & Pricing
14.3.3. MasterBrand, Inc.
14.3.3.1. Company Overview
14.3.3.2. Sales Area/Geographical Presence
14.3.3.3. Financial/Revenue (Segmental Revenue)
14.3.3.4. Strategy & Business Overview
14.3.3.5. Sales Channel Analysis
14.3.3.6. Product Portfolio & Pricing
14.3.4. Lowe’s
14.3.4.1. Company Overview
14.3.4.2. Sales Area/Geographical Presence
14.3.4.3. Financial/Revenue (Segmental Revenue)
14.3.4.4. Strategy & Business Overview
14.3.4.5. Sales Channel Analysis
14.3.4.6. Product Portfolio & Pricing
14.3.5. Rubbermaid
14.3.5.1. Company Overview
14.3.5.2. Sales Area/Geographical Presence
14.3.5.3. Financial/Revenue (Segmental Revenue)
14.3.5.4. Strategy & Business Overview
14.3.5.5. Sales Channel Analysis
14.3.5.6. Product Portfolio & Pricing
14.3.6. American WoodMark
14.3.6.1. Company Overview
14.3.6.2. Sales Area/Geographical Presence
14.3.6.3. Financial/Revenue (Segmental Revenue)
14.3.6.4. Strategy & Business Overview
14.3.6.5. Sales Channel Analysis
14.3.6.6. Product Portfolio & Pricing
14.3.7. Target Brands, Inc.
14.3.7.1. Company Overview
14.3.7.2. Sales Area/Geographical Presence
14.3.7.3. Financial/Revenue (Segmental Revenue)
14.3.7.4. Strategy & Business Overview
14.3.7.5. Sales Channel Analysis
14.3.7.6. Product Portfolio & Pricing
14.3.8. Bed Bath & Beyond
14.3.8.1. Company Overview
14.3.8.2. Sales Area/Geographical Presence
14.3.8.3. Financial/Revenue (Segmental Revenue)
14.3.8.4. Strategy & Business Overview
14.3.8.5. Sales Channel Analysis
14.3.8.6. Product Portfolio & Pricing
14.3.9. IKEA
14.3.9.1. Company Overview
14.3.9.2. Sales Area/Geographical Presence
14.3.9.3. Financial/Revenue (Segmental Revenue)
14.3.9.4. Strategy & Business Overview
14.3.9.5. Sales Channel Analysis
14.3.9.6. Product Portfolio & Pricing
14.3.10. ClosetMaid
14.3.10.1. Company Overview
14.3.10.2. Sales Area/Geographical Presence
14.3.10.3. Financial/Revenue (Segmental Revenue)
14.3.10.4. Strategy & Business Overview
14.3.10.5. Sales Channel Analysis
14.3.10.6. Product Portfolio & Pricing
15. Key Takeaway
15.1. Identification of Potential Market Spaces
15.1.1. Type
15.1.2. Material
15.1.3. Installation
15.1.4. Price
15.1.5. Distribution Channel
15.1.6. Country
15.2. Understanding the Buying Process of the Customers
15.3. Prevailing Market Risks
15.4. Preferred Sales & Marketing Strategy
List of Tables
Table 1: North America Home Storage Market Value, by Type, US$ Mn, 2017-2031
Table 2: North America Home Storage Market Volume, by Type, Million Units, 2017-2031
Table 3: North America Home Storage Market Value, by Material, US$ Mn, 2017-2031
Table 4: North America Home Storage Market Volume, by Material, Million Units, 2017-2031
Table 5: North America Home Storage Market Value, by Installation, US$ Mn, 2017-2031
Table 6: North America Home Storage Market Volume, by Installation, Million Units, 2017-2031
Table 7: North America Home Storage Market Value, By Price, US$ Mn, 2017-2031
Table 8: North America Home Storage Market Volume, By Price, Million Units, 2017-2031
Table 9: North America Home Storage Market Value, by Distribution Channel, US$ Mn, 2017-2031
Table 10: North America Home Storage Market Volume, by Distribution Channel, Million Units, 2017-2031
Table 11: North America Home Storage Market Value, by Country, US$ Mn, 2017-2031
Table 12: North America Home Storage Market Volume, by Country, Million Units, 2017-2031
Table 13: U.S. Home Storage Market Value, by Type, US$ Mn, 2017-2031
Table 14: U.S. Home Storage Market Volume, by Type, Million Units, 2017-2031
Table 15: U.S. Home Storage Market Value, by Material, US$ Mn, 2017-2031
Table 16: U.S. Home Storage Market Volume, by Material, Million Units, 2017-2031
Table 17: U.S. Home Storage Market Value, by Installation, US$ Mn, 2017-2031
Table 18: U.S. Home Storage Market Volume, by Installation, Million Units, 2017-2031
Table 19: U.S. Home Storage Market Value, By Price, US$ Mn, 2017-2031
Table 20: U.S. Home Storage Market Volume, By Price, Million Units, 2017-2031
Table 21: U.S. Home Storage Market Value, by Distribution Channel, US$ Mn, 2017-2031
Table 22: U.S. Home Storage Market Volume, by Distribution Channel, Million Units, 2017-2031
Table 23: Canada Home Storage Market Value, by Type, US$ Mn, 2017-2031
Table 24: Canada Home Storage Market Volume, by Type, Million Units, 2017-2031
Table 25: Canada Home Storage Market Value, by Material, US$ Mn, 2017-2031
Table 26: Canada Home Storage Market Volume, by Material, Million Units, 2017-2031
Table 27: Canada Home Storage Market Value, by Installation, US$ Mn, 2017-2031
Table 28: Canada Home Storage Market Volume, by Installation, Million Units, 2017-2031
Table 29: Canada Home Storage Market Value, By Price, US$ Mn, 2017-2031
Table 30: Canada Home Storage Market Volume, By Price, Million Units, 2017-2031
Table 31: Canada Home Storage Market Value, by Distribution Channel, US$ Mn, 2017-2031
Table 32: Canada Home Storage Market Volume, by Distribution Channel, Million Units, 2017-2031
List of Figures
Figure 1: North America Home Storage Market Value, by Type, US$ Mn, 2017-2031
Figure 2: North America Home Storage Market Volume, by Type, Million Units, 2017-2031
Figure 3: North America Home Storage Market Incremental Opportunity, by Type, 2023-2031
Figure 4: North America Home Storage Market Value, By Material, US$ Mn, 2017-2031
Figure 5: North America Home Storage Market Volume, By Material, Million Units, 2017-2031
Figure 6: North America Home Storage Market Incremental Opportunity, By Material, 2023-2031
Figure 7: North America Home Storage Market Value, By Installation, US$ Mn, 2017-2031
Figure 8: North America Home Storage Market Volume, By Installation, Million Units, 2017-2031
Figure 9: North America Home Storage Market Incremental Opportunity, By Installation, 2023-2031
Figure 10: North America Home Storage Market Value, By Price, US$ Mn, 2017-2031
Figure 11: North America Home Storage Market Volume, By Price, Million Units, 2017-2031
Figure 12: North America Home Storage Market Incremental Opportunity, By Price, 2023-2031
Figure 13: North America Home Storage Market Value, by Distribution Channel, US$ Mn, 2017-2031
Figure 14: North America Home Storage Market Volume, by Distribution Channel, Million Units, 2017-2031
Figure 15: North America Home Storage Market Incremental Opportunity, by Distribution Channel, 2023-2031
Figure 16: North America Home Storage Market Value, by Country, US$ Mn, 2017-2031
Figure 17: North America Home Storage Market Volume, by Country, Million Units, 2017-2031
Figure 18: North America Home Storage Market Incremental Opportunity, by Country,2023-2031
Figure 19: U.S. Home Storage Market Value, by Type, US$ Mn, 2017-2031
Figure 20: U.S. Home Storage Market Volume, by Type, Million Units, 2017-2031
Figure 21: U.S. Home Storage Market Incremental Opportunity, by Type, 2023-2031
Figure 22: U.S. Home Storage Market Value, By Material, US$ Mn, 2017-2031
Figure 23: U.S. Home Storage Market Volume, By Material, Million Units, 2017-2031
Figure 24: U.S. Home Storage Market Incremental Opportunity, By Material, 2023-2031
Figure 25: U.S. Home Storage Market Value, By Installation, US$ Mn, 2017-2031
Figure 26: U.S. Home Storage Market Volume, By Installation, Million Units, 2017-2031
Figure 27: U.S. Home Storage Market Incremental Opportunity, By Installation, 2023-2031
Figure 28: U.S. Home Storage Market Value, By Price, US$ Mn, 2017-2031
Figure 29: U.S. Home Storage Market Volume, By Price, Million Units, 2017-2031
Figure 30: U.S. Home Storage Market Incremental Opportunity, By Price, 2023-2031
Figure 31: U.S. Home Storage Market Value, by Distribution Channel, US$ Mn, 2017-2031
Figure 32: U.S. Home Storage Market Volume, by Distribution Channel, Million Units, 2017-2031
Figure 33: U.S. Home Storage Market Incremental Opportunity, by Distribution Channel, 2023-2031
Figure 34: Canada Home Storage Market Value, by Type, US$ Mn, 2017-2031
Figure 35: Canada Home Storage Market Volume, by Type, Million Units, 2017-2031
Figure 36: Canada Home Storage Market Incremental Opportunity, by Type, 2023-2031
Figure 37: Canada Home Storage Market Value, By Material, US$ Mn, 2017-2031
Figure 38: Canada Home Storage Market Volume, By Material, Million Units, 2017-2031
Figure 39: Canada Home Storage Market Incremental Opportunity, By Material, 2023-2031
Figure 40: Canada Home Storage Market Value, By Installation, US$ Mn, 2017-2031
Figure 41: Canada Home Storage Market Volume, By Installation, Million Units, 2017-2031
Figure 42: Canada Home Storage Market Incremental Opportunity, By Installation, 2023-2031
Figure 43: Canada Home Storage Market Value, By Price, US$ Mn, 2017-2031
Figure 44: Canada Home Storage Market Volume, By Price, Million Units, 2017-2031
Figure 45: Canada Home Storage Market Incremental Opportunity, By Price, 2023-2031
Figure 46: Canada Home Storage Market Value, by Distribution Channel, US$ Mn, 2017-2031
Figure 47: Canada Home Storage Market Volume, by Distribution Channel, Million Units, 2017-2031
Figure 48: Canada Home Storage Market Incremental Opportunity, by Distribution Channel, 2023-2031
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North America Home Storage Market
*86 figures and 60 tables includes