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Open Shelves Storage Market Report
Open Shelves Storage Market Trends Dynamics & Market Insights
The Open Shelves Storage market is projected to grow from USD xx million in 2020 to USD xx million by 2026 at a CAGR of around x% during the forecast period.
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Open shelve storage is not in a closed or private room and is directly accessible to visitors. Open shelves make the visitors feel at home and help themselves to do whatever they need. Based on type, open shelve storage can be categorized as wood, plastic, metal, and others.
Key players operating in the Open Shelves Storage market are-
The growth of the Open Shelves Storage market is driven by the increasing popularity of open shelves in households as well as public areas. Growing demand for modern furnishing in the developing economies coupled with rising per capita disposable income of the consumers is likely to drive the growth of the global Open Shelves Storage market at a significant rate during the review period. In addition to this, rising demand for advanced open shelves storage with innovative features is likely to create lucrative opportunities for the players operating in the global market in the coming years.
By application, the open shelves storage market has been bifurcated into the home and public area. Under these, the home segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The segment growth can be attributed to the increasing adoption of modern furniture, particularly in households.
By region, the market in Asia-Pacific accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth is primarily attributed to rising demand for modern furnishing in developing countries particularly India and China coupled with rising per capita disposable income. The market growth in the North American region is expected to be driven by a high product adoption rate and the presence of key market players including Lavish Home (US) and Catskill Craftsmen Inc (US).
The outbreak of the COVID-19 virus has affected the growth of the open shelves storage market significantly. Stringent lockdown measures and restricted movement of people affected the production and product supply for a short period and thus, affected the market growth.
Here is the list of the group of customers that the open shelves storage market hopes to have the greatest opportunity to convert-
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Martha Stewart Living (US), John Louis Home (US), ClosetMaid (US), Lavish Home (US), Catskill Craftsmen Inc (US), AkadaHOME (US), Wallscapes (US), DOLLE A/S (Denmark), Redi-Shelf (US), Edsal Manufacturing Company, Inc. (US) and AZ Home and Gifts (Canada) are among the key players in the open shelves storage market.
The home segment accounted for the largest share in the open shelves storage market in 2020.
Asia-pacific is expected to grow at a significant CAGR in the open shelves storage market in the next five years.
Open shelves storage distributors, Open shelves storage suppliers, Open shelves storage manufacturers, Logistics organizations, Government bodies are among the target audience in the open shelves storage market.
Increasing popularity of open shelves in households as well as public areas, growing demand for modern furnishing in the developing economies coupled with rising per capita disposable income of the consumers are the factors driving the growth of open shelves storage market.
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