The research on the Awning Market further validates other prime factors including investment feasibility, production capability, product pricing, production volume, demand and supply, import and export status to help business evangelists make the multi-dimensional marketing strategy more robust.
New York, NY -- (SBWIRE) -- 04/14/2021 -- The Awning Market is forecasted to grow from USD 6.85 Billion in 2018 to USD 11.95 Billion by 2026, at a CAGR of 6.9% during the forecast period. The market is primarily driven by the increase in people's inclination to embellish residential and commercial establishments and advances in fabric materials.
Awnings are sheets of fabric or other materials supported by an aluminium, iron, or wood structure. They can be deployed to provide shade at the door, window, patio, and gardens. They have numerous applications that both in the commercial and residential sectors prove beneficial.
Factors like expanded living space and sun protection, advances in fabric material, and luxury building embellishment drive market growth. Furthermore, smart awnings with sensors are expected to propel the growth of the global awning industry in stormy or rainy weather.
It is expected that high capital costs coupled with the need for skilled human resources will hamper the entry of new market entrants that is expected to impact growth over the forecast period.
The major players in the market are Advanced Design Awning & Sign (US), Carroll Awning (US), Awning Company of America (US), KE Durasol (US), Eide Industries (US), NuImage Awnings (US), Marygrove Awning (US), Sunesta (US), Sunair Awnings (US), and Sunsetter Products (US).
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Segments covered in the report:
This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the market on the basis of type, material, product, end user and regional analysis.
Type (Kilo Tons) (Revenue, USD Million; 2016-2026)
Fixed
Retractable
Freestanding Awning
Material (Kilo Tons) (Revenue, USD Million; 2016-2026)
Vinyl
Acrylic
Natural Materials
Fiberglass
Metal
Others
Product-Type (Kilo Tons) (Revenue, USD Million; 2016-2026)
Patio Awnings
Door Awnings
Window Awnings
Other Awning
End User (Kilo Tons) (Revenue, USD Million; 2016-2026)
Residential
Commercial
Region (Kilo Tons) (Revenue, USD Million; 2016-2026)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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Further key findings from the report suggest
The Awning Market is forecast to grow from USD 6.85 Billion in 2018 to USD 11.95 Billion by 2026, at a CAGR of 6.9% during the forecast period. The market is primarily driven by the increase in people's inclination to embellish residential and commercial establishments and advances in fabric materials.
The market for retractable awning is expected to grow the largest at USD 5.26 Billion in 2026, at a CAGR of 7.2% during the forecast period because of its unique motorized technology and increased demand across high-end residential and commercial sectors. High demand for retractable type due to protection from harsh sunshine, glare and interior fading is expected to increase the market penetration over the forecast period.
Based on product type, the market for patio is expected to grow the largest at USD 4.54 Billion in 2026, at a CAGR of 7.6% during the forecast period. Due to the growing demand in the residential sector and in commercial resorts, patio awnings are expected to dominate the market.
The market for residential sector is expected to reach USD 7.70 Billion in 2026, at a CAGR of 7.9% during the forecast period. Growing residential construction industry is expected to drive demand over the forecast period, coupled with growing consumer preference for outdoor decks and seating areas…Continued
Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Awning Segmentation & Impact Analysis
4.1. Awning Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Increasing demand from residential and consumer sector
4.2.2.2. Technological advancements
4.2.3. Market restraints analysis
4.2.3.1. Higher installation cost
4.2.3.2. Threat of substitutes
4.3. Technological Insights
Continued…
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