Global Decking Market 2018-2022 | Changing Lifestyles and Increasing Use of Outdoor Living Spaces to Boost Demand | Technavio
LONDON--(BUSINESS WIRE)--Jan 4, 2019-- analysts forecast the global decking market to grow at a CAGR of over 6% during the forecast period, according to their latest market research report.
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Technavio has published a new market research report on the global decking market from 2018-2022. (Graphic: Business Wire)
The rising adoption of prefabricated construction solutions is one of the major trends being witnessed in the . Prefabricated structures are being adopted across the world as they are more economical and also help to save time during construction. Quality and design standards are the key areas of focus for prefabricated construction, which mitigate the challenges associated with constructing site-built homes.
According to Technavio analysts, one of the key factors contributing to the growth of the global decking market is the changing lifestyles and increasing use of outdoor living spaces:
Global decking market: Changing lifestyles and increasing use of outdoor living spaces
Decking is used to extend residences and landscape gardens. In countries such as the US and Canada, backyard decks are popular for lounging and dining. Decking is also used in non-residential applications such as hotel terraces, boardwalks, balconies, leisure centers, patios, and theme parks to effectively utilize open spaces.
According to a senior analyst at Technavio for research on construction, “Players in the market provide decking, which is easy to install, for residential applications. Thus, factors such as the changing lifestyles of people and the rising use of outdoor living spaces is increasing the need for decking, will drive the growth of the global decking market during the forecast period.”
Global decking market: Segmentation analysis
The global decking market research report provides market segmentation by product (wooden, composite, plastic, and aluminum), by end-user (residential and non-residential), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The wooden segment held the largest market share in 2017, accounting for over 38% of the market. This product segment is expected to dominate the global market throughout the forecast period.
The Americas led the market in 2017 with a market share of over 41%. This region is expected to dominate the market through 2022, however there will be a decrease in its market share.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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INDUSTRY KEYWORD: MANUFACTURING OTHER MANUFACTURING LANDSCAPE CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE OTHER CONSTRUCTION & PROPERTY
SOURCE: Technavio Research
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