Reports And Data
Rising demand for wooden decking in commercial and residential sectors is a key factor driving market revenue growth
NEW YORK, NY, UNITED STATES, October 20, 2021 /EINPresswire.com/ — The global wooden decking market size is expected to reach USD 9.29 Billion in 2028 and register a CAGR of 1.8% over the forecast period, according to the latest report by Reports and Data. Key factors such as rising demand for wooden decking in commercial and residential sectors, and increasing investments in development of commercial and industrial infrastructure are driving market revenue growth. Wooden deck is a flat platform constructed above the ground with railings and steps, and enhances aesthetics of the area and house as well as offers various advantages among others.
Wooden decking is widely used in residential and commercials sectors for creating garden landscaping, balconies, terraces, extended living areas, etc. Residential segment accounted for majority revenue share in the global market in 2020. This can be attributed to increasing demand for wooden decks in the residential sector and rising disposable income, particularly in developing countries. Wooden decks are also used with railings, public seating, and other infrastructural designs. These decks are available in various forms such as wooden decking tiles, and panels.
North America market accounted for largest revenue share in the global market in 2020. Factors such as robust presence of key players, increasing investments in commercial and industrial infrastructure, and ongoing developments in the construction sector are key factors driving revenue growth of the North America market.
Asia Pacific market accounted for 24.1% revenue share in the global market in 2020 and is expected to register fastest CAGR over the forecast period. This can be attributed to increasing demand for wooden infrastructure, rising disposable income, and rapid industrialization.
Europe market accounted for a significantly large revenue share in 2020 and is expected to register a steady revenue growth rate over the forecast period. Development of construction sector, and growing adoption of wooden decking in residential sector are key factors driving market revenue growth in the region.
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Companies profiled in the global market report include Weyerhaeuser Company, West Fraser Timber Co. Ltd., Universal Forest Products, Inc., Setra Group, James Latham plc, Cox Industries Inc., Humboldt Redwood Company and Mendocino Redwood Company, Vetedy Group, DuraLife Decking & Railing Systems, and Trex Company, Inc.
Some Key Highlights From the Report:
• In July 2021, Leisure Hotels Group launched a fancy dining experience, The Naini Retreat in Nainital, India. It offers an alfresco eatery on suspended wooden deck under 150-year-old walnut tree.
• Pressure-treated wood decking segment accounted for largest revenue share in the global market in 2020. This can be attributed to growing demand for pressure-treated wood decking due to its cost-effectiveness, excellent durability, low installation cost, and availability of labor at low cost.
The manufacturing and construction industry has rapidly grown in terms of revenue in the recent years and is expected to register robust revenue growth throughout the forecast period. Factors such as technological advancements in manufacturing techniques and rapid urbanization and industrialization are boosting market revenue growth. Moreover, there has been a sudden rise in the demand for smart buildings and smart homes and consumers are inclining towards green energy and eco-friendly construction activities due to rising environmental concerns. These factors along with latest trend for redevelopment and advanced flooring for aesthetic look and increasing adoption of automation across the globe are fueling market growth. In addition, government schemes and increasing investments to develop enhanced products is expected to open favorable growth opportunities going ahead.
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For the purpose of this report, Reports and Data has segmented the wooden decking market based on type, type of construction, application, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018-2028)
• Pressure Treated Wood
Type of Construction Outlook (Revenue, USD Billion; 2018-2028)
• Repairs & Remodeling
• New Decks On Existing Constructions
• New Decks On New Constructions
Application Outlook (Revenue, USD Billion; 2018-2028)
• Rails & infrastructure
• Building materials
End-Use Outlook (Revenue, USD Billion; 2018-2028)
The research study includes an in-depth analysis of the market using advanced research methodologies such as SWOT analysis and Porter’s Five Forces analysis. The report further explores the key business players along with their in-depth profiling, product portfolio, and strategic business decisions. The report has been formulated through extensive primary and secondary research and further validated by analysts, industry experts, and market professionals. The report also sheds light on the recent mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches, among others.
Regional analysis covers assessment of import/export, production and consumption ratio, supply and demand, cost, price, estimated revenue and gross margins, and presence of key players in the region. The report also offers insights about revenue growth, market size, market share, technological advancements, and presence of key players in each region.
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Regional Bifurcation of the Wooden Decking Market Includes:
North America (U.S., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of Europe)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Source: EIN Presswire