Over the forecast period of 2022 to 2032, the global temporary storage buildings market is expected to grow at a CAGR of 6.3%. The market is expected to be worth around US$ 1536.9 million in 2022 and US$ 2831.3 million by 2032. The market’s expansion is attributed to global industrialization, which has resulted in the need for storage space to store tools, equipment, and raw materials in one location. This will increase future demand for temporary storage buildings.
Temporary storage buildings are well-known for their quick and simple arrangements, which are widely used for storage-related applications. Furthermore, these storage spaces are simple to construct because they do not require a concrete foundation or brick walls. Overall, these storage buildings are both cost-effective and modern.
Temporary storage buildings are also known as temporary warehouses or temporary sheds. These storage building structures are made from galvanized steel frames for high-quality structural integrity, which are covered with flame-retardant PVC vinyl fabric. The majority of the temporary storage buildings are made of waterproof materials, which makes them safe for storing items in extreme weather conditions. However, storage sheds made out of wood and metal are vulnerable to rotting due to water. Therefore, it is vital to invest in waterproofing solutions.
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Report Highlights
Temporary storage buildings are known for heightened durability and long-lasting substitutive solution. Moreover, it can be easily dismantled and repositioned between worksites to fulfill future requirements.
The adoption of temporary storage buildings is augmenting globally as they virtually accommodate any size and can be used in numerous industries. Temporary outdoor sheds are upgraded by adding features such as flooring, specialty doors, HVAC systems, and a lot more, depending on the needs.
Recent Developments
The global trends of surging retail stores and factory outlets are expected to surge the market growth exponentially. Other factors resulting in higher sales of temporary storage buildings comprise winter protection for livestock, storage space harvesting in the agricultural sector, temporary buildings for car shows, and construction equipment storage at construction sites.
One of the primary factors behind the growth of the temporary storage buildings market is the growing demand for products resulting in production and expansion in the end-user industry. The market competitors in this industry have obligated the management to bring down the operational cost of production and inventory. Additionally, the increasing price of construction materials for buildings and high inventory costs pave the way for a temporary storage building.
The demand for temporary storage sheds is flourishing owing to the several advantages they offer, such as versatility, portability, easy assembly, minimal maintenance, convenience, and affordability. These benefits will push the sales of temporary storage buildings market further and thereby contribute to the growth of the global market.
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Competitive Landscape
Primary operators in the global temporary storage buildings market are focusing on setting up effective joint ventures, acquisitions, and/or collaborations to expand their individual customer bases. The rising focus of industries to encourage implementing push marketing strategy in several industries, such as FMCG, electronics, etc., which have the need for inventory, is an aspect that boosts the growth of the market.
Manufacturers are working on enhancing and adding additional features such as access to electricity, a single roof, etc. Moreover, these outdoor storage sheds can be locked for additional security and to prevent theft.
In August 2017, Mahaffey Fabric Structures, a United States-based leading provider of temporary turnkey structures and shelter solutions, announced the acquisition of over $24.2 million in assets from Classic Party Rentals, including structure frames, tents, fabric pieces, and specialty structures.
More Insights into the Temporary Storage Buildings Market
The North American region is expected to dominate the global temporary storage buildings market over the evaluation period. The market is expected to account for around 25.8% market share in the assessment period. Extensive applications of a temporary storage building in the manufacturing industry. In North America, a key country like the United States has been experiencing considerable growth in the manufacturing units, pharma units, retail sector, etc.
The Asia Pacific region is expected to create flourishing growth over the next decade. The growth is attributed to the favorable initiatives from governments in countries like China and India to encourage manufacturing. This factor will contribute to the lucrative growth of the market.
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Key Segments of The Temporary Storage Buildings Market
By Type:
- Storage Buildings
- Retail & Showroom Buildings
- Educational Buildings
- Recreational Buildings
- Public Sector Buildings
- Emergency Buildings
By Structure:
- Industrial Canopies
- Storage Protect Range
- Insulated Buildings
By End Use:
- Chemicals & Petrochemicals
- Automotive
- Mining & Metals
- Cement
- Construction
- Shipbuilding and Construction
- Logistics
- Agriculture
- Others
By Region:
- North America
- Latin America
- Asia Pacific
- MEA
- Europe
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