Market Analysis: Outdoor Kitchen Cabinets Market, Household Cleaning Tools Market, Golf Shaft Market forecasted for 2023-2030

SEATTLE, WASHINGTON, USA, July 12, 2023/EINPresswire.com/ -- The Outdoor Kitchen Cabinets Market is expected to grow from USD 219.80 Million in 2022 to USD 492.00 Million by 2030, at a CAGR of 12.20% during the forecast period.The Outdoor Kitchen Cabinets market is a niche segment of the overall home improvement market, targeting customers who are looking to either install or upgrade their outdoor living spaces. The target market for Outdoor Kitchen Cabinets includes homeowners who have outdoor spaces such as patios, decks, and gardens, and who enjoy cooking and entertaining guests outdoors.The major factors driving revenue growth of the Outdoor Kitchen Cabinets market include the increasing popularity of outdoor cooking and eating, the demand for functional and durable outdoor cabinetry solutions, and the growing trend towards open-plan living spaces that blur the lines between indoor and outdoor living.

Three of the most popular types of outdoor kitchen cabinets available in the market are:

• Composite Cabinets
• Stainless Steel
• Aluminum Cabinets

Composite cabinets are made of a combination of wood pulp and plastic resin. These cabinets are affordable, long-lasting, and can withstand harsh weather conditions like rain, wind, and sun. Stainless steel cabinets are durable, corrosion-resistant, and easy to clean. They are ideal for outdoor kitchens because of their sleek and modern look. Aluminum cabinets are lightweight, rust-resistant, and heat-resistant. They are also easy to clean and maintain, making them a popular choice among outdoor kitchen enthusiasts.

Outdoor kitchen cabinets are used in both residential and commercial applications. In residential areas, outdoor kitchen cabinets are used for outdoor kitchens, patio bars, poolside bars and grilling stations. They are used to store cooking utensils, plates, glasses, and ingredients, as well as to provide a space for food preparation. In commercial settings, outdoor kitchen cabinets are used for restaurants, parks, and other outdoor venues where food is served. They are designed to withstand harsh outdoor conditions and are generally made of durable materials like stainless steel.

In terms of market share, North America is expected to hold a share of around 40%, while Europe is expected to hold a share of around 25% in the Outdoor Kitchen Cabinets market. Asia Pacific is also expected to witness significant growth in the market due to the growing trend of outdoor living spaces and the increasing number of new housing constructions in the region. The region is expected to hold a market share of around 20% in the Outdoor Kitchen Cabinets market.Other regions, including Latin America and the Middle East and Africa, are also expected to witness considerable growth in the market. Latin America is expected to witness growth due to increasing urbanization and the growing demand for outdoor living spaces among consumers in the region. The Middle East and Africa are expected to witness growth due to the increasing disposable income of consumers and the growing trend of outdoor entertainment and leisure activities in the region. These regions are expected to hold a market share of around 10% in the Outdoor Kitchen Cabinets market.

The outdoor kitchen cabinets market is highly competitive with the presence of several established players. Some of the leading companies in the market include Trex Outdoor Kitchens, Brown Jordan International Inc, Danver, 4 Life Outdoor Inc, Grillnetics, WeatherStrong, Crystal Cabinet Works Inc, Lynx, NewAge Products Inc, Premier Outdoor Cabinetry, and NatureKast Products Inc.

The sales revenue figures for some of the prominent companies in the market are as follows:

- Trex Outdoor Kitchens - $5 Million (estimated)
- Brown Jordan International Inc. - $417 Million (2020)
- Lynx - $20 Million (estimated)
- NewAge Products Inc. - $200 Million (estimated)

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The Household Cleaning Tools Market is expected to grow from USD 63.60 Billion in 2022 to USD 104.80 Billion by 2030, at a CAGR of 7.40% during the forecast period.The Household Cleaning Tools market targets homeowners and commercial entities that require various cleaning tools for maintaining cleanliness. The growing demand for these tools is the primary factor driving the revenue growth of the Household Cleaning Tools market. Factors such as rising hygiene awareness, the increasing prevalence of infectious diseases, and the growing number of residential and commercial buildings are contributing to the market's growth.One of the latest trends in the Household Cleaning Tools market is the development of eco-friendly cleaning products. Consumers are becoming more environmentally conscious, leading companies to shift towards sustainable and biodegradable products. The rise in e-commerce and the growing popularity of online shopping is another trend positively impacting the market's growth.

According to market research reports, North America is expected to dominate the Household Cleaning Tools market in the coming years due to the increasing focus on maintaining hygiene and cleanliness in households. The market share of the North American region is projected to reach around 40% of the global market by 2030.Europe is also expected to have a significant market share in this industry owing to the rising awareness regarding health and hygiene among the population. The market share of the European region is expected to be around 25% of the global market by 2030.Furthermore, the Asia Pacific region is projected to have the fastest growth rate in the Household Cleaning Tools market due to the increase in urbanization and the rising disposable income of the population. The market share of the Asia Pacific region is expected to be around 30% of the global market by 2030.

The household cleaning tools market is highly competitive, and major players dominate the market. These companies operate globally and offer a wide range of products, including mops, brooms, brushes, buckets, and sponges, among others.Procter & Gamble, 3M, Freudenberg, Butler Home Product, Libman, Carlisle FoodService Products, EMSCO, Ettore, Fuller Brush, Cequent Consumer Products, Newell Brands, OXO International, Unger Global, Zwipes, Galileo, and Ningbo East Group are some of the key players in the household cleaning tools market.

Procter & Gamble's revenue in 2020 was $71.04 billion, while 3M's revenue was $32.16 billion. Freudenberg reported revenue of $11.77 billion in 2019, and Newell Brands reported revenue of $9.7 billion in the same year. OXO International and Unger Global have reported annual revenues of $100 million and $50 million, respectively.

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The Golf Shaft Market is expected to grow from USD 338.30 Million in 2022 to USD 416.00 Million by 2030, at a CAGR of 3.00% during the forecast period.The golf shaft market is comprised of golf enthusiasts and professionals who require high-quality, customizable shafts to enhance their performance on the golf course. Increasing demand for customized shafts, as well as advancements in technology, are major factors driving revenue growth in the golf shaft market.One of the latest trends in the golf shaft market is the use of composite materials, which offer a lighter weight and improved feel. Additionally, there is a growing trend towards customization, with consumers seeking personalized shafts that suit their playing style and preferences. This has led to increased investment in research and development by golf shaft manufacturers to improve the customization of their products.

According to recent market research reports, the North American region is expected to dominate the Golf Shaft market due to its high participation rate in golf activities and rising demand for advanced golf equipment. The Asia-Pacific region is also expected to have significant growth in the market due to the increasing number of golf courses and tournaments in the region. Europe and Latin America are also projected to have steady growth in the market.As for the market share percent valuation, it is estimated that North America will hold the largest share of the Golf Shaft market, followed by Asia-Pacific and Europe. However, specific market share percentages are not provided in the reports.

True Temper, based in the US, is one of the largest producers of golf shafts globally. It offers a wide range of shafts designed for different types of golfers and various levels of play. Similarly, Mitsubishi Electric, one of the most reputed Japanese companies, offers premium golf shafts that are engineered to provide maximum distance and control.

Sales revenue figures of a few of the above-listed companies include:

- True Temper reportedly generated around $390 million in revenue in 2020
- Mitsubishi Electric's golf division generated around $572 million in revenue in 2021
- Fujikura reported revenue of around $143 million in 2021.

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Amrita Pandey
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