The global awnings market is anticipated to grow at a CAGR of 6.0% during the forecast period (2022-2028).Awnings are the sheets of canvas or other materials extended on a frame. The major purpose of these awnings is used to keep the sun or rain off a deck, window, storefront, or doorway. The market growth is majorly attributable to the growing application of awnings across several commercial, residential, and industrial facilities that include hotels, retail outlets, sports stadiums, restaurants, and theaters, among others. Adding to this several product innovations that include the addition of smart sensors to automatically retract the structure in storms and excessive rains are further driving the growth of the market.
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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 key trends that are anticipated to drive the market growth includes the growing expenditure capacities of the consumers, coupled with the broad infrastructural development activities, particularly in the developing countries. Further, the growth in the construction industry is also likely to boost the growth of the global awnings market in the future years.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Product
- Regions covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape: Eide Industries Inc., Durasol Awnings, Inc., and Global Awnings, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Awnings Market Report by Segment
By Type
- Fixed
- Retractable
By Product
- Patio
- Window
- Freestanding
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