Press release
North America Garage Furniture Market Developments, Regional Segmentation, Future Prospects, CAGR Status, and Forecast 2022-2027 | ATD Tools, Inc., Connected Automotive Systems (OEMTools.com), Apex Tool Group (Gear Wrench),
Garage furniture include organizer, 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. Garage furniture is made of different materials including metal, wood, plastics and others, for various application areas. Increasing demand for garage furniture products by automobile industry is expected to result in fuelling the market growth.
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North America garage furniture market is a 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 attribute to the increased demand for garage furniture market in North America. Instagram and YouTube videos are trending among young population. Young population wants to own tool kits and equipment of their own. In order to keep these tools organized and presentable, the demand for garage furniture is growing among young population.
Increased number of independent garages to fuel the market growth
Majority of population take help of independent garages one the warranty of vehicles gets expired. The independent garages offer services with lesser cost as compared to the authorized garages. Due to which, the vehicle owners prefer independent garages for routine maintenances, oil check-ups, among others. Due to increase 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
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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. Presence of 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 acquisition, 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?
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About Astute Analytica:
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the globe.
They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of the best cost-effective, value-added package from us, should you decide to engage with us.
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