Decks Market Size, Share & Trends Analysis Report By Material (Wood, Metal), By Application (Railing, Floors), By End-use (Residential, Non-residential), By Fastening Method (Deck Board Face, Deck Board Hidden), By Region, And Segment Forecasts, 2023 - 2030

Decks Market Size & Trends

The global decks market size was estimated at USD 13.04 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 5.9% from 2023 to 2030. This growth can be attributed to the increasing awareness about building aesthetics among consumers. The growing trend of backyard remodeling and landscaping activities to spend time outdoors since after the COVID-19 pandemic is another driving factor of the market. Growing per capita income of consumers is resulting in the growth of remodeling & refurbishment activities and lavish infrastructure. The market is also witnessing resilient repair and replacement demand owing to the growing interest of people in modifying their houses as per changing market trends. The rising inclination toward spending outdoor leisure time is further expected to boost the market growth.

The U.S. decks industry is expected to grow at a significant rate over the forecast period owing to the growing construction sector in the country. The country is also witnessing a rising trend of converting old office buildings into residential apartments in various cities. Moreover, the increasing number of residential buildings in the region is predicted to foster the growth of construction industry, thereby driving the demand for decks over the forecast period.

Prominent players in the market are forward-integrated as they directly cater to the requirements of different end-use industries through online portals. These portals increase the profit margins for deck manufacturers by eliminating distributors from their supply chain. Online portals also provide them with an improved understanding of the changing preferences of customers, as well as offer insights regarding market evolution. This is expected benefit the manufacturers in understanding the consumer behavior, thereby increasing their overall profit margin.

Material Insights

The metal deck material segment is anticipated to grow at a CAGR of 5.8% over the forecast period. Metal is considered a much stronger, heavier, and harder material compared to other materials such as plastic and wood. Metals have the ability to withstand climate change, which makes them an ideal fit for outdoor venues. Furthermore, metals such as aluminum and steel are corrosion resistant, which offers low maintenance and long service life. The eco-friendly properties of metal are also expected to drive the segment.

The wooden deck material segment led the market with a total revenue share of around 60.0% in 2022. Wood is one of the oldest materials used for manufacturing decks. Wood is a natural and renewable resource available and does not contribute to any environmental degradation like plastics. Furthermore, wooden decks generally do not heat up in hot weather, unlike plastic. Wood is commonly used for building decks as it is naturally available, easy to install, and strong. These factors are expected to increase the demand for wooden deck material over the forecast period.

Application Insights

The railing application segment is expected to grow at a high CAGR of 6.2% over the forecast period. Decks are installed in commercial and residential buildings due to their advantages such as additional versatile space and improved home aesthetics. These decks are modified by adding railing to the edges on account of safety and privacy concerns. A deck railing system can help keep pets and children from straying too close to the deck's edge. These factors are expected to positively influence the demand for deck rails in the coming years.

Fastening Method Insights

The deck board hidden fastening method segment is projected to grow at the highest CAGR of 6.2% over the forecast period. The growth is attributed to the aesthetic appeal provided by the hidden fastening method. In this method, the installation of fasteners is underneath the deck board, and they are attached to the joist. This method provides a cleaner look to the deck structure, which makes it a desired choice among high-end customers only, as the application of hidden fastening requires specialized skills, tools, and accessories for installation, which increases the overall cost of installation.

The deck board face fastening method segment is a traditional method in which fasteners are applied on the top of the deck board, which creates a stronger bond with the deck joists. It is the most preferred method of fastening a deck board, as it is easy to apply with the help of a fastening tool. It is the cheapest and most durable deck board fastening method, which makes it a common choice among consumers. Thus, it is expected to positively influence the demand for the face fastening method over the coming years.

End-use Insights

The residential segment dominated the market in 2022 and is expected to grow at a CAGR of 6.0% over the forecast period. The market is driven by the rising popularity of residential decks in building design as they provide access to outdoor space, especially in urban areas with dense environments. In addition, decks increase the resale value of the property along with adding an aesthetic appeal which is expected to fuel the demand for residential decks in the coming years.

Decks in non-residential spaces such as hotels, restaurants and resorts are becoming popular as they create the desired impact to attract customers. Visual appeal can have a drastic impact on the business and thus is taken into consideration by the majority of builders across the globe. Installation of decks in the entryway or outdoor dining area adds value to this factor. This is predicted to bolster the growth of the non-residential decks market in the near future.

Regional Insights

The Asia Pacific region is expected to grow at a high CAGR of over 6.0% over the forecast period as it is one of the largest construction markets across the globe and is led by various countries including China, Japan, South Korea, Indonesia, and Malaysia. Factors such as increasing government expenditure on residential housing & public infrastructure, the presence of a large number of construction companies, and the growing population in the region are expected to drive construction industry in the region, which is likely to have a positive impact on the decks sector over the forecast period.

North America led the market and accounted for a total revenue of USD 4.10 billion in 2022. The economy of North America is highly diverse owing to the presence of key global economies such as the U.S. and Canada. The U.S. has been the leading consumer of decks in North America in the past few years owing to their increased demand in the residential sector. According to the U.S. Census Bureau, the construction of new homes in the country increased by 9.8% in February 2023 compared to the homes developed in January 2023. Thus, rising construction activities in the U.S. are expected to lead to surged demand for decks in the country in the coming years.

Key Companies & Market Share Insights

Key players in the market are opting for various strategies such as merger and acquisition, expansion, collaboration, etc. to expand into new markets. For instance, in January 2022, The Azek Company, Inc., acquired StruXure Outdoor, Inc., a manufacturer and designer of innovative and high-quality aluminum pergolas and cabanas. The acquisition is expected to expand the company’s position in outdoor living category products and benefit its well-developed product portfolio.

Decks Market Report Scope

Global Decks Market Report Segmentation

This report forecasts revenue growth at global, regional and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global decks market report based on material, application, end-use, fastening method, and region:

• Material Outlook (Revenue, USD Million, 2018 - 2030)

  • Metal

  • Wood

  • Plastic & Composites

  • Concrete

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Railing

  • Walls

  • Floors

  • Others

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Residential

  • Non-residential

• Fastening Method Outlook (Revenue, USD Million, 2018 - 2030)

  • Deck Board Face Fastening

  • Deck Board Hidden Fastening

  • Deck Board Edge Fastening

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • U.K.

    • Germany

    • France

  • Asia Pacific

    • China

    • Japan

    • South Korea

  • Central & South America

    • Brazil

  • Middle East & Africa

    • UAE