Global Awning Market was valued US$ 7.53 Bn in 2018 and is expected to reach US$ XX Bn by 2026, at a CAGR of XX%.
Awnings are sheets of fabric or other materials that are supported with a structure made of aluminum, iron, or wood. They have many applications, which show beneficial in both, the commercial plus residential sectors. They enhance style to homes by improving the architectural design and coloring. The global awnings market is expected to witness significant growth because of increasing use in the residential and commercial sectors. Rising demand in shops, houses, and hotels, due to toughness and the unique design is expected to force market growth over the estimated period. Moreover, rising demand for aluminum awnings in many applications with commercial windows, decorative, doors, and other residential will drive demand growth of the awnings market. Furthermore, as it helps as a protective coating its need will swell over the forthcoming years. In addition, fabrics and sheets that are available in different colors and patterns deliver various opportunities to customers. Nevertheless, variable harsh weather conditions hamper the growth of the awning market, particularly in regions that are prone to heavy snowfall & rainfall. Smart awnings with sensors to retract the structure in stormy or rainy weather are expected to boost the growth of the global awning market. In terms of the type, the retractable awning segment accounted for over one-third of the total market share in 2018 and is expected to continue its lead position in the forecast period. This segment would register the fastest CAGR of XX% from 2018 to 2026, due to its unique motorized technique and increase in its demand across high-end commercial and residential sectors. The fixed awning segment would grow at a moderate rate throughout the forecast period. Based on the product, the patio segment is expected to account for the largest market share of the global market throughout the forecast period. Though, the freestanding segment would register the highest CAGR of XX% from 2018 to 2026, thanks to its rising popularity in commercial and residential spaces. By the industry, the commercial segment is estimated to be the highest contributor, rising at a significant CAGR of XX% in the forecast period. This is attributed to the increase in commercialization where awnings are used to increase the utilization and improve the visual appeal of outdoor spaces. Region-wise, Asia-Pacific holds a significant market share in the global awning market and is likely to grow at a high CAGR of XX% in the future. Also, North America is a major market and will display high growth because of high use in the residential sector. The objective of the report is to present comprehensive analysis of Global Awning Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers the all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers. The report also helps in understanding Global Awning Market dynamics, structure by analyzing the market segments, and project the Global Awning Market size. Clear representation of competitive analysis of key players By Distribution Channel, Type, and regional presence in the Global Awning Market make the report investor’s guide. Some of the key players in the global awning market are Advanced Design Awning & Sign, Awning Company of America, Carroll Awning, Eide Industries, KE Durasol, Marygrove awning, NuImage Awnings, Sunair Awnings, Sunesta, and Sunsetter Products