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Awnings Market Production, Share, Demand, Applications and Oppo

  • Posted by Jenny Reddy February 24, 2022 - Filed in Arts & Culture - #Awnings Market  - 420 views

    Awnings Market Research Report 2019: Industry Size, Share, Trends, Growth and Opportunity Assessment, Regional Analysis and Segmentation By Type (Fixed, and Retractable), Product (Patio, Window, Freestanding, and others), End-user (Residential, and Non-residential) and Region — Global Forecast till 2023

    Market Scenario

    As per a detailed analysis by Market Research Future (MRFR), the global awnings market is predicted to garner USD 10 billion, demonstrating a CAGR of 5.8% during the forecast period (2018-2023). Awnings are extensively used as sunshades in outdoor places, which include windows, doors, and patios. It is considered a secondary covering which is attached to the exterior of a building or a wall. Awnings are composed of cotton or polyester yarn, canvas woven of acrylic, or vinyl laminated to polyester fabric.

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    Competitive Dashboard

    • Eide Industries Inc. (the US)
    • Advanced Design Awnings & Signs (US)
    • Sunesta (US)
    • Awning Company of America Inc. (the US)
    • Nuimage Awnings (US)
    • Carroll Awning Co. Inc. (the US)
    • Marygrove Awnings (US)
    • Sunsetter Products LP (US)
    • KE Durasol Awnings Inc. (US)

    Industry Updates

    February 22, 2019: Outwell has recently launched all-new inflatable motorhome awnings. The inflatable awning consists of windows on all the three sides, with an entire front panel which can be partially unzipped or removed. The inflatable system also includes height adjustment for legs, adaptable roof tubes to lower the gaps between the motorhome and awning, and one location to pump air into all tubes.

    Market Potential and Pitfalls

    The awnings market is experiencing a sturdy growth rate during the appraisal period. The market’s growth is chiefly directed by the surging use in the commercial as well as in the residential sector. The increasing demand for awnings from commercial spaces like hotels, shops, and residential spaces. The exclusive design and durability of awnings are predicted to trigger its demand in the global market. Awnings offer multiple advantages both in outdoor as well as indoor construction depending on the type of raw material used. They are highly used to protect the window frames, wood doors, and door casings from an impairment, which is generally caused due to moisture and rain, and also prevents rain from leakage inside. The use of awnings also reduces direct heat from the sun, thereby reducing the energy cost in the summer. Such factors are considered to contribute to the growth of the market. Moreover, the aesthetic appeal offered by awnings has further widened the scope in residential as well as non-residential construction. The plummeting demand for aluminum awnings in decorative, commercial window, door, and residential purposes will propel its growth. The lightweight and low maintenance of aluminum awnings will further widen the scope for awnings market across the globe.

    On the contrary, the fluctuation in the price of raw materials is anticipated to curb the growth of the market in the foreseeable future. The prevalence of several regulations, in terms of restrictions related to the sizes will restrict the market growth in the coming years.

    Global Awnings Market: Segmental Analysis

    The awnings market is segmented into product, type, and end-user.

    By mode of type, the awnings market is segmented into retractable and fixed. Among these, the retractable awnings are leading the global market as they are extensively used to protect the outdoor constructed areas from the rays of the sun while improving the efficiency of the HVAC system. The retractable awnings also provide longer lifespan compared to the fixed ones. Such factors are likely to influence the growth of the segment.

    Based on type, the awnings market comprises a window, patio, freestanding, and others. Among these, the patio segment showcases the maximum contribution to the global market. The segment will demonstrate a significant growth rate in the coming years due to the surging installation of the retractable awnings in the residential as well as non-residential sectors. The patio is also preferred for occasions like gatherings, parties, and others, which is estimated to propel the segment’s growth.

    The end-users segment is bifurcated into residential and non-residential. Among these, the residential segment will experience the fastest growth in the coming years. The surging spending by domestic and foreign developers on several residential projects is likely to influence the segment’s growth.

    Regional Frontiers

    Geographically, the awnings market span across Europe, North America, Asia Pacific, and the Rest-of-the-World (RoW).

    Considering the global scenario, the Asia Pacific region is likely to acquire the lion’s share due to the surging investments in R&D activities for advanced materials. APAC has also experienced a rising number of awning installation with the augmenting number of construction projects in residential as well as commercial construction in India and China. Such factors are likely to elevate scope for awnings market in the regional market. The boom in the construction sector, especially in Malaysia, China, India, Australia, Vietnam, and Thailand is highly influencing the market’s growth. Also, the existence of multiple coated fabric manufacturing plants is impacting the regional market’s growth positively.

    The North American region occupies a significant share in the global market due to surging private construction along with the benefits like energy savings, reduced costs, and durability associated with the installation of awnings. The rapid growth in the residential sector, where awnings might be set up is fueling the growth of the regional market.

    Intended Audience:

    • Raw Material Suppliers
    • End Users
    • Product Manufacturers
    • Traders & Distributors
    • Regulatory Bodies
    • Market Research and Consulting Firms

    List of Tables

    Table 1 Global Awnings Market: by Region, 2018-2023
    Table 2 North America Awnings Market: by Country, 2018-2023
    Table 3 Europe Awnings Market: by Country, 2018-2023
    Table 4 Asia-pacific Awnings Market: by Country, 2018-2023
    Table 5 Row Awnings Market: by Country, 2018-2023
    Table 6 Global Awnings Market, by Product, by Regions, 2018-2023
    Table 7 North America Awnings Market, by Product, by Country, 2018-2023

    Continued……..

    List of Figures

    Figure 1 Research Process of Mrfr
    Figure 2 Top Down & Bottom Up Approach
    Figure 3 Market Dynamics
    Figure 4 Impact Analysis: Market Drivers
    Figure 5 Impact Analysis: Market Restraints
    Figure 6 Porter’s Five Forces Analysis
    Figure 7 Value Chain Analysis

    Continued…….

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