The global awning market was valued at $6,765.8 million in 2017 and is projected to reach $11,042.7 million in 2025, growing at a CAGR of 6.2%. Awnings are made of fabric or other material sheets supported with aluminum, iron, or wooden structures. These are deployed at doors, windows, patio, and gardens to provide shade. Both commercial and residential sector benefit from its various applications. They add style to homes by flattering the architectural design and coloring.
Awnings acts as a reliable means to provide shade over windows, doors, decks, patios, and walkway. It is cheaper than concrete shades roofing shelter. Moreover, it beautifies the building and protects furniture, flooring, and artwork from sun damage. In addition, sensor technology in retractable awning senses adverse weather conditions to prevent damage to the product. Moreover, remote-based retractable awning can be closed easily without using manual intervention or going out of the house to fold the awning. However, high purchasing and installation cost of retractable awning is a challenge faced by vendors to tap the residential awning market. In addition, even less expensive fixed awnings are not durable and require frequent change of fabric and maintenance of awning structure.
The global awning market is segmented based on type, product, industry, and region. Based on type, the market is bifurcated into fixed awning, and retractable awning. Retractable awning is further sub-segmented by mechanism into manual, and motorized. The retractable awning segment is anticipated to dominate the global awning market throughout the region due to its sturdiness and sensing feature. The product segment covered in the study include patio, window, freestanding, and others. The industrial segment includes residential, and commercial. The commercial segment is projected to grow at the highest rate in future.
The global awning market is analyzed across four geographical regions, which include North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), and LAMEA (Latin America, and Middle East & Africa). Asia-Pacific is expected to dominate the market throughout the forecast period.
The key players profiled in this report include Advanced Design Awning & Sign, Awning Company of America, Carroll Awning, Eide Industries, KE Durasol, Marygrove awning, NuImage Awnings, Sunair Awnings, Sunesta, and Sunsetter Products.
Key Benefits for Awning Market:
The study provides an in-depth analysis of the global awning market, and current & future trends to elucidate the imminent investment pockets.
Information about the key drivers, restraints, and opportunities and their impact on the market is provided.
Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
The quantitative analysis of the global awning market from 2017 to 2025 is provided to determine the market potential.
Awning Key Market Segments:
By Type
Fixed Awning
Retractable Awning
Manual
Motorized
By Product
Patio
Window
Freestanding
Others
By Industry
Commercial
Residential
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
LAMEA
Latin America
Middle East and Africa
Key Market Players Profiled in the report
Advanced Design Awning & Sign
Awning Company of America
Carroll Awning
Eide Industries
KE Durasol
Marygrove awning
Nulmage Awnings
Sunair Awnings
Sunesta
Sunsetter Products
What is the estimated value of the Global Awning Market?
What is the growth rate of the Global Awning Market?
What is the forecasted size of the Global Awning Market?
People have become more considerate toward reducing energy consumption. Therefore, they have started installing fixed or retractable awnings and shades in summer to keep their houses cool. These awnings serve as a cost-effective solution to prevent harmful UV rays from damaging furniture, artwork, and floor in the house.
The growth of the global awning market is driven by expansion of living spaces and protection from sunlight, need for beautification of the building, and advances in fabric material. In addition, the ability of awning to increase the utilization of deck, patio, veranda, and garden are expected to provide lucrative opportunities for the growth of the awning industry. Furthermore, technological innovations, such as manual and motorized retraction mechanisms have fueled the growth of the retraction awning segment. However, unreliable harsh weather conditions hinder the growth of the awning industry, specifically in regions that are prone to heavy snowfall and rainfall.
Based on product, the patio segment is expected to account for the largest share in the global market during the forecast period, due to increase in demand across North America and Europe. Based on industry, the commercial segment is expected to be the highest contributor, growing at a significant CAGR during the forecast period. This is attributed to increase in commercialization where awnings are used to increase the utilization and enhance visual appeal of outdoor spaces.
Key Findings of the Awning Market:
Based on type, the retractable segment is projected to grow at the highest CAGR of 7.3% during the forecast period.
Asia-Pacific generated the highest revenue in 2017 and is anticipated to grow at the highest CAGR.
The patio segment generated the highest revenue in 2017 and is estimated to grow at the rate of 5.5%.
In Asia-Pacific, China accounted for the largest market share in 2017.
The key players profiled in this report include Advanced Design Awning & Sign, Awning Company of America, Carroll Awning, Eide Industries, KE Durasol, Marygrove awning, NuImage Awnings, Sunair Awnings, Sunesta, and Sunsetter Products.
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
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