Awning Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Summary

The global awning market size reached US$ 8.4 Billion in 2021. Looking forward, the analyst expects the market to reach US$ 12.3 Billion by 2027, exhibiting a growth rate (CAGR) of 6.37% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

The awning is an architectural fabric used for weather protection and decoration purposes. It consists of a lightweight frame structure manufactured using aluminum, wood and iron, and attached with a hood and cover. It is commonly available in the sun, vertical, foldable and retractable variants. They are used over doors, windows, patios and gardens to improve the architectural design and coloring and are commonly available in a wide variety of fabrics, colors, patterns and sizes. Awnings are produced using cotton, wood, canvas and metallic materials to minimize exposure to ultraviolet (UV) rays, prevent carpets and furniture from fading and extend outdoor spaces. As a result, they are widely used across various residential, commercial and industrial complexes, such as retail outlets, hotels, restaurants, sports arenas and theaters.

Awning Market Trends:
Significant growth in the construction industry across the globe is one of the key factors creating a positive outlook for the market. Moreover, the increasing consumer preference toward expanded living space and beautification of luxurious buildings is providing a thrust to the market growth. Aluminum awnings are widely used as protective coverings as they are highly cost-effective, flexible, durable, energy-efficient and require low maintenance. Additionally, various product innovations, such as the integration of smart sensors to automatically retract the structure in storms and excessive rains, are acting as other growth-inducing factors. In line with this, the widespread adoption of adjustable motorized awnings with recyclable and sustainable fabric materials is also contributing to the market growth. Other factors, including the rising expenditure capacities of the consumers, along with extensive infrastructural development activities, especially in the emerging economies, are anticipated to drive the market toward growth.

Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global awning market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type, product and end user.

Breakup by Type:
Fixed Awning
Retractable Awning
Manual
Motorized

Breakup by Product:
Patio
Window
Freestanding
Others

Breakup by End User:
Commercial
Residential

Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Advanced Design Awnings & Signs, Awning Company of America Inc, Carroll Architectural Shade, Eide Industries Inc., KE Durasol Awnings Inc., Marygrove Awnings, NuImage Awnings, Sunair Awnings, Sunesta, SunSetter Products and Thompson Awning.

Key Questions Answered in This Report
1. What was the size of the global awning market in 2021?
2. What is the expected growth rate of the global awning market during 2022-2027?
3. What has been the impact of COVID-19 on the global awning market?
4. What are the key factors driving the global awning market?
5. What is the breakup of the global awning market based on the type?
6. What is the breakup of the global awning market based on the product?
7. What is the breakup of the global awning market based on the end user?
8. What are the key regions in the global awning market?
9. Who are the key players/companies in the global awning market?

Methodology

Our market research methodology is designed to provide the clients with comprehensive and accurate information on various industries and markets. It includes data collection, primary interviews, macro-economic factor analysis, country-level data analysis etc.

The data is gathered from a wide range of sources, including industry reports, government statistics, and company financials. This data is then analyzed and cross-referenced to ensure its accuracy and reliability. Next, primary interviews are conducted with industry experts and key stakeholders to gather their insights and perspectives on the market. This information is then combined with the data collected to provide a complete picture of the market. Macro-economic factor analysis is also carried out to understand the impact of external factors on the market. Finally, country-level data analysis is performed to understand the market dynamics in specific regions and countries.

Reportlinker's market research methodology is designed to provide clients with a clear understanding of the market, its trends, and its future potential.

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