Outdoor Living Structure Market Rising at 6.1% CAGR to Reach USD 4.0 Billion by 2032 Owing to Rise in Household Consumer Spending and Outdoor Cooking Craze: TMR Study

Oct 24, 2023

Wilmington, Delaware, United States, May 31, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - Steady increase in consumer preference toward installing outdoor living structures at homes for dining and recreation purposes, such as (installation of) outdoor kitchens and fireplaces, is expected to accelerate market development.

Rise in household spending on patio beautification is augmenting market growth. The global outdoor living structure market was valued at US$ 2.4 Bn in 2022 and is projected to expand at a CAGR of 6.1% from 2023 to 2031 to reach US$ 4.0 Bn by 2031.

Considerable spending on modernization of pergolas by commercial end-users is likely to boost the outdoor living structure market. Companies in the market are creating marketing campaigns to promote the value of outdoor living structures in modern urban living. These are likely to bolster awareness among consumers on installation and beautification of these structures, such as patios, pergolas, and arbor in residential societies. These trends are broadening market outlook.

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Market Snapshot:

Key Findings of Study

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Key Drivers

Regional Growth Dynamics

North America is anticipated to account for the leading market share from 2023 to 2031. Widespread usage of outdoor living structure in residential spaces, especially by consumers in the U.S. has augmented market growth. Considerable inclination to add comfort and style to living structures in lounge and patios is likely to fuel market growth in the next few years.

Europe is a lucrative market for outdoor living structure. Growth of the market in the region is driven by rise in adoption of outdoor living structures in many commercial establishments, such as offices, hotels, and schools.

The market in Asia Pacific is projected to grow at a rapid pace from 2023to 2031. Rise in consumer spending on beautification of homes is fueling market growth.

Competition Landscape

The business landscape is fragmented, with the presence of large number of leading companies. Key players are focusing on product portfolio expansion to strengthen their market shares. Leading companies in the market are

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Market Segmentation

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