IMARC Group, a leading market research company, has recently releases report titled “Awning Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global awning market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the awning market?
Report Attributes - Details
Market Size in 2022 - US$ 9.0 Billion
Market Forecast in 2028 - US$ 13.0 Billion
Growth rate (2023 to 2028) - CAGR of 6.3%
Base Year of the Analysis - 2022
Forecast Period - 2023-2028
What is Awning?
Awning refers to an architectural fabric that serves both as protection from the weather and for decorative purposes. It comprises a lightweight frame structure made of aluminum, wood, or iron, with a hood and cover attached. Awnings are available in various types, which include sun, vertical, foldable, and retractable. They are commonly used to enhance architectural design and add color to doors, windows, patios, and gardens. Awning materials are crafted using cotton, wood, canvas, and metallic substances to minimize exposure to ultraviolet (UV) rays, prevent fading of carpets and furniture, and extend outdoor spaces. As a result, they find widespread utilization in residential, commercial, and industrial complexes, such as retail outlets, hotels, restaurants, sports arenas, theaters, etc.
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What are the growth prospects and trends in the awning industry?
The awning market is primarily driven by substantial growth in the construction industry across the globe and the growing usage of the product as protective coverings due to their cost-effectiveness, flexibility, durability, energy efficiency, and low maintenance requirements. Furthermore, the increasing consumer preferences for expanded living spaces and the beautification of luxurious buildings are acting as significant growth-inducing factors.
Apart from this, the elevating product innovations, including the incorporation of smart sensors that automatically retract the structure during storms and heavy rainfall, are further catalyzing the global market. Additionally, the expanding adoption of adjustable motorized awnings featuring recyclable and sustainable fabric materials is also positively influencing the market growth. Other factors, such as the rising consumer spending capabilities and extensive infrastructural development, particularly in developing countries, will fuel the awning market in the coming years.
Who are the key players operating in the industry?
The report covers the major market players including:
- 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
- Thompson Awning
What is included in market segmentation?
The report has segmented the market into the following categories:
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
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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