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Awnings Market Research Report - Global Forecast till 2030

Awnings Market Research Report, By Type (Fixed and Retractable), Product (Patio, Window, Freestanding and Others), End-user (Residential and Non-residential) and Region — Global Forecast till 2030

ID: MRFR/CO/5880-HCR | December 2022 | Region: Global | 110 Pages         

Awnings Market

Awnings Market is projected to be worth USD 12.52 Billion by 2028, registering a CAGR of 6.1% during the forecast period (2021 - 2028).

Segmentation

Type Fixed Retractable
Product Patio Window Freestanding
End-user Residential Non-residential

Key Players

  • Awnings & Signs
  • SUN-AIR Awnings
  • Awning Company of America Inc.
  • Carroll Awning Company
  • Nulmage
  • Durasol Awnings Inc.
  • Eide Industries Inc.
  • Aristocrat
  • A&A International
  • Thompson Awning Company
  • Levens Australia
  • Orion Blinds
  • Somfy

Drivers

  • The potential benefits of the aluminum awnings such as lightweight and minimal maintenance are driving the awnings market growth in recent years.
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Awnings Market Overview


 


Awnings are the fabrics that are made to flow over the windows and doors to act as a sun shield. The supportive material that is generally made of aluminum or iron are stationary or foldable. The aesthetical value offered by the awnings is considered the major driver of awnings market growth. The styling, protection, increase the value of the property are some of the benefits of installing the awnings. These awnings are made of quality textured textiles and thereby reduce air contamination inside the buildings. The air-conditioning and utilities are reduced by installing the awnings. Moreover, the quality of the building is also enhanced by installing the awnings. However, the maintenance of the awnings is considered as the major restraint of the awnings industry. The regular maintenance owing to the harsh environment affects the awnings market growth.


 


Factors like a sophisticated lifestyle and more value to aesthetics and functionality are promoting the awnings market value. The advent of smart awnings in the industry and the easier deployment of these awnings have propelled the commercial sectors and others to utilize these awnings.


 


COVID 19 Analysis:


 


The COVID 19 pandemic has significantly affected the growth of several industrial sectors and manufacturing units. The construction and manufacturing verticals have been affected severely thorough out the pandemic. The hotel, tourism, logistics, and other segments were also facing distress during the pandemic. Such factors have affected the growth of the awnings industry. The construction activities and the development of the infrastructure are the primary drivers of awnings market growth. However, due to the reduced development in these industries and prolonged lockdown, regulations regarding movement have affected the awnings industry.


 


Therefore the pandemic has negatively affected the awnings market growth. The disruption in logistics has failed to transport the raw materials required for the construction industry, such factors have reduced the overall awnings market value. The declining economic condition and the fluctuating prices of raw materials also affected the growth of the awnings industry.


 


Market dynamics:


 


Market drivers:


 


The potential benefits of the aluminum awnings such as lightweight and minimal maintenance are driving the awnings market growth in recent years. 


 


The increasing disposable income of developed regions and the expansion of living space and the requirement of protection from sun and harsh climate is considered as the major drivers of awnings market growth. Moreover, the installation of the awnings has the potential to improve the indoor air quality and convenience of the living space. Such factors are also propelling the overall growth of the awnings industry in recent years.


 


Market opportunities:


 


Technological developments such as the integration of smart devices to control the operation of the awnings and the easier control over the awnings are expected to boost the awnings market growth during the forecast period.


 


The changing preferences of the commercial sector and residential sector to project their operation space with higher aesthetical values are promoting the overall growth of the awnings market growth. The emerging shops, retail, high-end residential sectors, avenues, and other spaces across the developed regions are presenting lucrative opportunities for the overall growth of the awnings industry.


 


Market restraints:


 


The effect on the textile industry might disturb the growth of the awnings industry as well. The growth of the awnings industry is highly influenced by the growth of the textile industry. Therefore the growth cannot be controlled by the market players.


 


The unreliability of the awnings in a harsh environment requires higher maintenance or frequent replacements. Such factors are considered as the major restraints of the awnings industry.


 


Market challenges: 


 


The installation processes are difficult and are highly dependent on the structure of the firm or commercial space. Furthermore, the installation of motorized awnings is comparatively difficult and is considered as the major challenge for the awnings market growth.


 


The costs incurred for the manufacturing of the retractable awnings and the fluctuation in the price of the retractable awnings are expected to hinder the overall growth of the awnings industry.


 


Cumulative growth analysis:


 


The global awnings market growth is highly influenced by the fabric manufacturing industries, construction industries, and manufacturing sectors. The market value of the awnings industry was at USD 7.80 billion in the year 2020 and it is expected to surpass the market value of over USD 11.82 billion by the year 2027 while registering a CAGR of 6.1% during the forecast period. The potential features such as durability, protection from sun, exterior decorative accessories, enhanced outer living experience, and other factors are driving the awnings market growth. 


 


The hotels, restaurants, and retail industries were utilizing the awnings that are of the old school style, however, they add aesthetical value to the market spaces. The stringent regulations and restrictions from the government organizations are limiting the sizes of these awnings and therefore the awnings market growth is slightly affected. 


 


Value chain analysis:


 


The awnings manufacturers are manufacturing quality fabrics and material sheets to offer enhanced protection and shade to the doors, windows, and patio. Especially the awnings with unique designs and materials are often used to add aesthetical value to the commercial space. They are also used as a mode of advertising in some applications. The aluminum, wood, and iron framework that supports these awnings demand higher quality to prolong the lifespan of the awnings themselves. The varied styles of the awnings in the market such as fixed, and retractable are presenting options for the commercial and residential units to cater to their demand. 


 


The retractable awnings are highly preferred in the residential and non-residential units due to the flexibility and the adjustable extensions. Also, the advancements in the industry have led the industry to the next step in overall growth. For instance, the motorized awnings that are integrated with the switch and remote and smart devices are gaining momentum as they withstand a rough environment. Moreover, the growing demand for shops, hotels, restaurants in the urban regions is further propelling the overall growth of the awnings industry.


 


Segment overview:


 


Based on Type:


 



  • Fixed Awning

  • Retractable Awning


Ø Manual


Ø Motorized


 


Based on Product:


 



  • Patio

  • Window

  • Freestanding

  • Others


 


Based on Industry:


 



  • Commercial


Ø Shops


Ø Hotels


Ø Restaurants 


Ø Sports arena


Ø Theatres


 



  • Residential


 


Regional analysis:


 


North America is currently leading in the awnings market share that is due to the increasing usage across the residential sector. The growth in the textile industry in North America is also presenting a lucrative opportunity for the overall growth of the awnings industry across the region. Especially the rapid development of the textile industry across the US and Canada are propelling the awnings industry. On the other hand, the Asia-pacific region is also rapidly developing in the awnings industry as the development of the construction industry and the presence of established manufacturers of fabric across the region. The increasing number of manufacturing plants across the Asia-pacific region is also presenting a lucrative opportunity for the growth of the awnings industry.


 


European countries utilize the awnings for the vertical, stationery, cross arm, and other applications and are presenting themselves well-presented markets. The rising disposable income in these regions is also augmenting the growth in the awnings industry.


 


Competitive landscape:


 



  • Awnings & Signs

  • SUN-AIR Awnings

  • Awning Company of America, Inc.

  • Carroll Awning Company

  • Nulmage

  • Durasol Awnings, Inc.

  • Eide Industries, Inc.

  • Aristocrat

  • A&A International

  • Thompson Awning Company

  • Levens Australia

  • Orion Blinds

  • Somfy

  • Suntech Australia

  • GS World

  • The Awning Factory

  • Averatec Awnings

  • Torbay Blinds

  • Luxaflex


 


Recent developments:


 


In the year 2019, two leading market players, Academy Awning Inc. and Zebra Awning Inc have joined hands to expand their representation and skills to further develop the awnings industry.


 


In the year 2019, one of the leading market players, Stella group have acquired CRH shutters, which was considered as the efficient strategy to become the global leader in the awnings industry.


 


Report overview:


 


This report has covered:



  • Market overview

  • COVID 19 Analysis

  • Market dynamics

  • Cumulative growth analysis

  • Value chain analysis

  • Segment overview

  • Regional analysis

  • Competitive landscape

  • Recent developments


 


Segmentation Table:


 


Based on Type:


 



  • Fixed Awning

  • Retractable Awning


Ø Manual


Ø Motorized


 


Based on Product:


 



  • Patio

  • Window

  • Freestanding

  • Others


 


Based on Industry:


 



  • Commercial


Ø Shops


Ø Hotels


Ø Restaurants 


Ø Sports arena


Ø Theatres


 



  • Residential


 



Report Scope:

Report Attribute/Metric Details
  Market Size

  • USD 12.3 Billion (2019-2026)
  • 2030 : Significant value
  •   CAGR   6.80% (2022-2030)
      Base Year   2021
      Forecast Period    2022 to 2030
      Historical Data   2019 & 2020
      Forecast Units   Value (USD Billion)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   By Type, End-user
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   Advanced Design Awnings & Signs (US), Eide Industries, Inc. (US), Awning Company of America, Inc. (US), Sunesta (US), Carroll Awning Co., Inc. (US), Nuimage Awnings (US), Sunsetter Products LP (US), Marygrove Awnings (US), and KE Durasol Awnings Inc. (US).
      Key Market Opportunities

  • Global awnings market is expected to witness noteworthy growth owing to the increasing use in residential and commercial sector. \r\n
  • There is seen a growing demand from commercial spaces such as shops, and hotels and residential spaces.
  •   Key Market Drivers   These are manufactured from aluminum to canvas in both fixed and retractable variants.


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    Frequently Asked Questions (FAQ) :

    The market value of the awnings industry was at USD 7.80 billion in the year 2020 and it is expected to surpass the market value of over USD 11.81 billion by the year 2027 while registering a CAGR of 6.1% during the forecast period.

    • Eide Industries, Inc. • Aristocrat • A&A International • Thompson Awning Company • Levens Australia • Orion Blinds • Somfy • Suntech Australia • GS World

    The retractable awnings are gaining momentum due to their potential benefits such as enhanced comfort and offering better shade with more convenience. The glare and the damaging radiation of direct sunlight can be effectively eliminated. Such factors are propelling the demand for retractable awnings.