Awning Market Overview :
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 :
Rest of Europe
Rest of Asia-Pacific
Middle East and Africa
Key Market Players Profiled in the report
Advanced Design Awning & Sign
Awning Company of America