Garage and Storage Shed Trends in the U.S.

Mar 1, 2007
160 Pages - Pub ID: SB1352552
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The American housing sector boomed over the last five years as consumers took advantage of rising incomes, low interest rates and creative financing to purchase homes. Home ownership rates are at their highest level in history, with nearly 69% of Americans owning homes in 2006, up from about 64% in 1990.

Housing takes the biggest bite out of consumer spending by far, accounting for about a third of the total. Spending on household furnishings in particular is greater than expenditures for personal care products and services, and education. It’s about equal to apparel and nearly as high as entertainment expenditures. Household furnishing expenditures grew at a higher rate than total housing costs, healthcare, and entertainment, and at about the same rate as personal care products and services.

Increasingly, the garage and storage sheds have become the beneficiaries of this spending. According to this new SBI report, Garage and Storage Trends in the U.S., the market for garage and shed storage is robust, reaching $1.5 billion in 2006, representing an 11% CAGR since 2002.

This second edition of the popular SBI report examines the trends to market growth fueling spending on garages and sheds - in particular, garages aren’t just for cars anymore. Home organization is big, and companies from GarageTek, California Closets, Newell Rubbermaid and Whirlpool to retailers such as Home Depot and Sears are getting into the act so that Americans can clean up their (garage) acts.

Scope and Methodology
The information contained in this report was obtained primarily from secondary research. Research on companies, distributors and retailers was conducted to obtain information on new product trends, marketing programs, distribution methods, and consumer trends related to the garage and shed storage market. Secondary research entailed data gathering from relevant sources, including consumer and industry publications, newspapers, government reports, trade association reports, financial reports, company literature, and corporate annual reports.

Simmons Market Research Bureau (SMRB) provided consumer behavior data.

What You’ll Get in this Report
Garage and Storage Shed Trends in the U.S. makes important predictions and recommendations regarding the future of this market, and pinpoints ways current and prospective marketers can capitalize on current trends and spearhead new ones. No other market research report provides both the comprehensive analysis and extensive data that Garage and Storage Shed Trends in the U.S. offers. The report addresses the following segments:

  • The Market (including market size and composition, and projected market growth)
  • Competitive Profiles (of the mainstream marketers, specialists and up-and-coming niche players, and analyses of the products they market)
  • Market Dynamics
  • End-Users
  • The Products

Plus, you’ll benefit from extensive data, presented in easy-to-read and practical charts, tables and graphs.

How You Will Benefit from this Report
If your company is already competing in the garage and storage shed industry, or uses these products, you will find this report invaluable, as it provides a comprehensive package of information and insight not offered in any other single source. You will gain a thorough understanding of the current market demand for garages, storage systems and sheds, as well as projected market demand and trends through 2011.

This report will help:

  • Marketing Managers identify market opportunities and develop targeted promotion plans for garage products and storage sheds.
  • Research and development professionals stay on top of competitor initiatives and explore demand for garage products and storage sheds.
  • Business development executives understand the dynamics of the market and identify possible partnerships.
  • Information and research center librarians provide market researchers, brand and product managers and other colleagues with the vital information they need to do their jobs more effectively.

Chapter 1 Executive Summary
  • Scope of the Report
  • Methodology
  • The Market
    • A Robust Market
      • Figure 1-1 U.S. Sales of Garage and Shed Storage, 2002-2006 ($ in millions)
      • Figure 1-2 Estimated U.S. Sheds and Garages Market Composition, 2006
      • Table 1-1 U.S. Housewares Expenditures, 2001- 2005 ($ billions)

    • Trends and Factors to Future Growth
      • The Housing Boom
      • Slowing Down the Housing Boom
      • Big Spenders
      • Lower Prices Encourage Big Spending
      • Investing in the Home
      • The Multi-Tasking Home
      • Cocooning - Connecting
      • Clutter Leads to Increased Storage Needs
      • The Great Garage
      • The Multi-Purpose Garage
      • Major Players Drive Growth
      • Demographics Boost Need for Storage
      • Women Are Important Garage and Shed Product Targets
      • Raw Material Prices Impact Manufacturers

    • Marketers
    • Market Dynamics
      • Specialty Firms and Installers Initially Develop Market
      • Mass Retailers Embrace Category
      • Franchising Popular for Specialty Firms
      • Homebuilders Are Source of Revenue and Exposure
      • Manufacturers Tie-in to Builders
      • Acquisitions
      • Exclusive Relationships and Partnerships Give Competitive
      • Advantage
      • Branding and Co-branding Help Drive Consumer Sales
      • Internet Sles
      • TV Product Placement
      • Event Promotion Key Tactic to Drive Sales
      • Racing Tie-ins Popular

    • Market Trends
      • Ease of Assembly Key to DIY consumers
      • Customization To Fit Needs
      • Maximizing Space in the Garage
      • Specialty Items Provide More Options
      • Affordability to Reach More Consumers

    • The Consumer
      • 20% of Households Spend More Than $1,000 Annually on Home Improvements
      • Remodeling and Adding a Garage Not Highest Priorities
      • Big Family, Higher Income Households Tend to Remodel Basements, Attics and Garages
      • Boomers with Big Families and Lower-Priced Homes Tend to Add a Garage
      • Two Percent of Households Purchase Storage Sheds
      • 70% of Households Spend More Than $500 on Sheds
      • Consumers Do It Themselves with Sheds
      • Who Bought Sheds in the Past Year

    • Market Projections
      • Solid But Slower Growth in Future
      • Figure 1-3 Projected U.S. Sales of Garage and Shed Storage, 2006-2011

Chapter 2 The Market

  • Scope of the Report
  • Methodology
  • Product Definitions
  • The Market
    • A Robust Market
    • Figure 2-1 U.S. Sales of Garage and Shed Storage, 2002-2006 ($ in millions)
    • Figure 2-2 Estimated U.S. Sheds and Garages Market Composition, 2006
    • Table 2-1 U.S. Housewares Expenditures, 2001- 2005 ($ billions)
    • Figure 2-3 New One Family Houses Sold - % with basements 2005

  • Trends and Factors to Future Growth
    • The Housing Boom
    • Table 2-2 Percent of Home Ownership
    • Figure 2-4 U.S. Quarterly Homeownership Rates, 2004-2006 (in %)
    • Table 2-3 Annual Existing Home Sales 2002-2006
    • Table 2-4 Annual Housing Starts 2000-2005 - Single Family Homes
    • Table 2-5 Annual New Home Sales/Median Annual Sales Price 1995-2006
    • Table 2-6 Quarterly House Price Appreciation, 2005-2006 (%)
    • Down the Housing Boom
    • Figure 2-5 30-Year Fixed Rate Mortgage, 2005-2006 (in %)
    • Figure 2-6 15-Year Fixed Rate Mortgage, 2005-2006 (in %)
    • Figure 2-7 1-Year Adjustable Rate Mortgage, 2005-2006 (in %)
    • Figure 2-8 Quarterly First-Time Home Buyer Index in U.S., 2005-2006
    • Big Spenders
    • Table 2-7 Personal Income and Its Disposition - 2000-2005 ($ billions)
    • Table 2-8 U.S. Population’s Personal Income and its Disposition, April-November, 2006 ($ billions)
    • Figure 2-9 U.S. Quarterly Personal Consumption Expenditures and Gross Domestic Product, 2004-2006 (in billion $)
    • Lower Prices Encourage Big Spending
    • Figure 2-10 Consumer Price Index (CPI) Department Store Durable Goods, Dec. 1996- Dec. 2006
    • Table 2-9 Costco Fiscal Year Sales and Membership - 2002-2006
    • Table 2-10 U.S. Average Annual Consumer Expenditures, 2004
    • Investing in Home
    • Table 2-11 Annual Home Remodeling Expenditures 1995-2005 - $ millions
    • Table 2-12 Home Improvement Products Sales - $ billions
    • The Multi-tasking Home
    • Cocooning - Connecting
    • Table 2-13 Median square feet of floor area, new one family houses 1985-2005
    • Clutter Leads to Increased Storage Needs
    • The Great Garage
    • Table 2-14 Type of Parking Facility of New One-Family Houses Completed (in %)
    • The Multi-Purpose Garage
    • Major Players Drive Growth
    • Demographics Boost Need for Storage
    • Table 2-15 Percent of Home Ownership by Type of household
    • Table 2-16 Percent of Home Ownership by Age
    • Women Are Important Garage and Shed Product Targets
    • Table 2-17 Attitudes of Men and Women Regarding Garage Cleanliness
    • Raw Material Prices Impact Manufacturers
    • Figure 2-11 Producer Price Index (PPI) of Plastics Material & Resins Manufacturing, 2004-2006
    • Figure 2-12 Producer Price Index (PPI) of Metals and metal products, 2004-2006
    • Figure 2-13 Producer Price Index (PPI) of Lumber and Wood Products, 2004-2006
    • Market Projections
      • Solid But Slower Growth in Future
      • Figure 2-14 Projected U.S. sales of garage and shed storage, 2006-2011
      • Negative Drivers
      • Positive Drivers

Chapter 3 The Marketers

  • Table 3-1 Select Manufacturers
  • Whirlpool Gladiator GarageWorks
    • Overview
    • Promotion
    • Products
    • Table 3-2 Gladiator GarageWorks Products

  • Stack-On Products Company
    • Overview
    • Products
    • Table 3-3 Stack-On Gladiator Cadet Line

  • O'Sullivan Industries, Inc.
    • Overview
    • Sales
    • Table 3-4 O’Sullivan Industries Sales, Fiscal Years 2002-2006
    • Products
    • Coleman line
    • Table 3-5 Coleman Garage Products

  • Newell Rubbermaid Inc.
    • Overview
    • Acquisitions and Divestures
    • Table 3-6 Newell Rubbermaid Acquisitions and Divestitures since 1999
    • Sales
    • Table 3-7 Newell Rubbermaid Sales, 2002-2005
    • Table 3-8 Newell Rubbermaid Sales Composition, 2005
    • Rubbermaid
    • Table 3-9 Rubbermaid Garage and Shed Storage Products

  • Stanley ZAG
    • Overview
    • Products
    • Table 3-10 Stanley ZAG Industries Garage Line

  • ClosetMaid Corporation
    • Overview
    • Products
    • Table 3-11 Closetmaid Garage Storage Products

  • California Closets
    • Overview
    • Products

  • Elfa International AB
    • Overview
    • Products

  • Schulte
    • Overview
    • Products
    • Table 3-12 Schulte Products
    • Promotion

  • Racor
    • Overview
    • Products
    • Table 3-13 Racor Products

  • Sauder
    • Overview
    • Products
    • Table 3-14 Hot Rod Garage by Sauder

  • Myers Industries, Inc.
    • Overview
    • Figure 3-1 Myers Industries, Inc. Sales by Segment, 2005
    • Products

  • Slide-Lok
    • Overview
    • Products

  • Sterilite Corporation
    • Overview
    • Products
    • Table 3-15 Sterilite Products
    • Home Products International, Inc.
    • Overview
    • Products
    • Table 3-16 Home Products International Products

  • Spacewall International
    • Overview

  • HyLoft Inc
    • Overview
    • Products
    • Table 3-17 Hyloft Products

  • ONRAX
    • Overview

  • UltiMate Garage
    • Overview

  • Storewall
  • Vertex
    • Overview
    • Products

  • Gracious Living
    • Overview
    • Products

  • HandiSolutions
    • Overview

  • Mill’s Pride
    • Overview
    • Products
    • Table 3-18 Mill’s Pride Products

  • Bald Head
    • Overview
    • Products

  • Bestar
    • Overview
    • Products
    • Table 3-19 Bestar Products

  • Diamond Life
    • Overview
    • Products
    • Table 3-20 Diamond Life Products

  • Garage Storage Cabinets
    • Overview
    • Products

  • RSI Home Products
    • Overview
    • Products
    • Table 3-21 Estate by RSI Products

  • ModuLine
    • Overview
    • Products
    • Promotion

  • Metal Line Cabinets
    • Overview
    • Products

  • GarageTek Inc.
    • Overview
    • Products
    • Promotion

  • Housewall
    • Overview

  • Premier Garage
    • Overview
    • Products

  • Designer Garage
    • Overview

  • Garage Envy
    • Overview

  • Vault
    • Overview
    • Products

  • Arrow Group Industries
    • Overview
    • Products
    • Table 3-22 Arrow Products

  • US Polymers Inc.
    • Overview
    • Products
    • Table 3-23 US Polymers Products

  • Suncast Corporation
    • Overview
    • Products
    • Table 3-24 Suncast Products

  • Tuff Shed Inc.
    • Overview
    • Home Depot Partnership
    • Products
    • Table 3-25 Tuff Shed Products

  • Thinking Outside
    • Overview
    • Products

  • Handy Home Products
    • Overview
    • Products
    • Table 3-26 Handy Home Products Sheds

  • Royal Outdoor Products
    • Overview
    • Products
    • Table 3-27 Royal Outdoor Products Sheds

  • Lifetime Products
    • Overview
    • Products
    • Promotion

  • Outstanding Solutions Ltd.
    • Overview
    • Products
    • Table 3-28 Outstanding Solutions Products

  • Step 2 Co.
    • Overview
    • Products
    • Table 3-29 Step 2 Storage Products

Chapter 4 Market Trends

  • Ease of Assembly Key to DIY Consumers
    • Gladiator Ready to Assemble Line
    • Coleman’s EZ Mount
    • Designed for Easy Assembly
    • Easy assembly sheds

  • Customization to Fit Needs
    • Gladiator’s Modular Design
    • Premier Garage offers custom design
    • Slide-Lok Can Be Mixed and Matched
    • Gracious Living Customizes with Cubes
    • Rails and Tracks Provide Flexibility
    • Custom Colors

  • Maximizing Space in the Garage
  • Specialty Items Provide More Options
    • Items for Every Activity
    • Schulte Creates New Space
    • Vertex Focuses on Specialty Niche

  • Affordability to Reach More Consumers
    • Specialty Companies Target High End
    • Demand for Less Expensive Products
    • Gladiator Adds Less Expensive Lines
    • Affordable Lines Selling at Retail
    • Shed Manufacturers Also Offer Less Expensive Lines
    • Home Depot Offers Popular-Priced Services
    • Target and California Closets Partner for Accessible Prices

Chapter 5 Market Dynamics

  • Specialty Firms and Installers Initially Develop Market
  • Garage Door Dealers Add Profits
  • Mass Retailers Embrace Category
  • Home Depot Pushes Garage Products
  • Wal-Mart Supercenters Add Garage Storage
  • Pep Boys Redesign Includes Garage Products
  • California Closets Deals with Mass Retailers
  • Franchising Popular for Specialty Firms
  • Homebuilders Are Source of Revenue and Exposure
  • Manufacturers Tie-in to Builders
  • Acquisitions
  • Exclusive Relationships and Partnerships Give Competitive Advantage
  • Branding and Co-branding Help Drive Consumer Sales
  • Own brands
  • Licensing
  • Internet Sales
  • Garage Storage Sites
  • Betty Mills Company Drives Online Shed Sales
  • Retailers Get Organized Online
  • TV Product Placement
  • GarageTek Popular on TV
  • Event Promotion Key Tactic to Drive Sales
  • GarageTek Promotes Safety
  • Lifetime Products Finds Messiest Garage
  • Gladiator creates garage organization month
  • Marvel Garage Makeover
  • Slide-Lok Provides Incentives to Dealers
  • Racing Tie-ins Popular

Chapter 6 The Consumer

  • Twenty Percent of Households Spend More Than $1,000 Annually on Home Improvements
  • Figure 6-1 Total Home Improvement Spending* (% of households)
  • Remodeling and Adding a Garage Not Highest Priorities
  • Table 6-1 Households Added or Remodeled Garage*
  • Big Family, Higher Income Households Tend to Remodel Basements, Attics and Garages
  • Table 6-2 Demographic Profile of People who Remodeled Basement/Attic/Garage*
  • Boomers with Big Families and Lower-Priced Homes Tend to Add a Garage
  • Table 6-3 Demographic Profile of People who Added a Garage*
  • Two Percent of Households Purchase Storage Sheds
  • Table 6-4 Home Improvement Purchases*
  • Seventy Percent of Households Spend More Than $500 on Sheds
  • Figure 6-2 Amount Spent on Storage Sheds (% of households)*
  • Figure 6-3 Storage Shed Spending Compared to Garage Products (% of households)*
  • Consumers Do It Themselves with Sheds
  • Figure 6-4 Installation of Sheds and Garage Products (% of households)*
  • Who Bought Sheds in the Past Year
  • Table 6-5 Demographic Profile of People Buying Storage Sheds*
  • Southwest is Weakest Region for Sheds
  • Figure 6-5 Storage Shed Purchases by Region*
  • Middle Income and Higher Income Households Tend to Spend More than $1,000 for a Shed
  • Table 6-6 Demographic Profile of People with Storage Shed Spend —$1,000 or more*
  • A Broad Range of Households Spend Between $500 and $999 for a Shed
  • Table 6-7 Demographic Profile of People with Storage Shed Spend —$500-$999*
  • Table 6-7 [Cont.] Demographic Profile of People with Storage Shed Spend —$500-$999*
  • Younger and Older Consumers Spend Between $100 and $499 for a Shed
  • Table 6-8 Demographic Profile of People with Storage Shed Spend —$100-$499*
  • Who Bought Garage Doors in the Past Year
  • Table 6-9 Demographic Profile of People Buying Garage Doors*
  • Central and Pacific Regions Strongest for Garage Doors
  • Figure 6-6 Garage Door Purchase by Region*
  • Higher Income Households with High Home Values Tend to Spend More than $1,000 for a Garage Door
  • Table 6-10 Demographic Profile of People with Garage Door Spend —$1,000 or more*
  • Younger Boomers with Higher Incomes Tend to Spend Between $500 and $999 for a Garage Door
  • Table 6-11 Demographic Profile of People with Garage Door Spend —$500-$999*
  • Middle Income Boomers Tend to Spend Between $100 and $499 for a Garage Door
  • Table 6-12 Demographic Profile of People with Garage Door Spend —$100-$499*

Appendix

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