Awnings Market 2021 Size, Trends, Demand, Growth Analysis, Development Scenario,

Awnings can offer some advantages in both indoor and outdoor construction, depending on the material used. These are made from aluminum to canvas in both fixed and retractable variants. Awnings are commonly used to protect wooden doors, window frames, and door frames from damage caused by rain and moisture and stop rain from leaking inside. In addition, the awnings help reduce the direct heat from the sun that passes through the windows, reducing the energy costs during the summer, mainly when using retractable awnings. The aesthetic appeal of the awnings further broadened the spectrum of both residential and non-residential construction.

Market Dynamics

The global market for awnings is expected to see substantial growth as a result of growing usage in the residential and commercial sectors. There is an increasing demand from commercial spaces such as shops, hotels, and residential areas. This is due to the durability and exclusive design that is expected to fuel demand growth in the next five years.

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Market Segmentation

The global awnings market has been segmented based on type, product, and end-user.

Based on type, the market has been segmented into fixed and retractable. The retractable awning segment is projected to dominate the global market for awnings. Retractable awnings are used to protect outdoor areas from sunlight while improving the efficiency of the HVAC system. These also deliver longer lifespans relative to their fixed counterparts. These can be retracted on days when the weather is particularly stormy and windy.

Based on the product, the market has been segmented into patio, window, freestanding, and others. The patio segment had the highest market size contribution and is projected to display a substantial growth rate during the assessment period due to a rise in the installation of retractable awnings in the residential and non-residential sectors. A patio is used for events such as parties, gatherings, etc.

Based on end-user, the market is classified into residential and non-residential. The residential segment is projected to show the fastest growth in the 2018-2023 forecast period. The growing investment by international and domestic developers on various residential projects has been reported. This, in effect, has created a lot of demand for awnings in the residential segment and therefore, the segment is expected to make a major contribution over the forecast period.

Regional Analysis

The global awnings market has been segmented into regions of North America, Europe, Asia Pacific, and Rest of the world (RoW).

The Asia Pacific held the largest share of the global market for awnings in 2017. It is due to the increase in advanced materials in R&D in these countries. The region has seen an increasing number of awning installations with a rising number of construction projects in commercial and residential construction in countries such as China and India. This is expected to increase demand for awnings in the Asia Pacific region in the immediate future.

North America had a large market in 2017 due to factors such as increased private construction and related benefits such as decreased prices, energy savings, and durability of the awning installation.

Key Players

Key players include 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).

Table of Content

1 Executive Summary

2 Scope Of The Report

2.1 Market Definition

2.2 Scope Of The Study

2.2.1 Definition

2.2.2 Research Objective

2.2.3 Assumptions

2.2.4 Limitations

2.3 Research Process

2.3.1 Primary Research

2.3.2 Secondary Research

2.4 Market Size Estimation

2.5 Forecast Model

3 Market Landscape

3.1 Porter's Five Forces Analysis

3.1.1 Threat Of New Entrants

3.1.2 Bargaining Power Of Buyers

3.1.3 Threat Of Substitutes

3.1.4 Segment Rivalry

3.1.5 Bargaining Power Of Buyers

3.2 Value Chain/Supply Chain Analysis

4 Market Dynamics

4.1 Introduction

4.2 Market Drivers

4.3 Market Restraints

4.4 Market Opportunities

5 Global Awnings Market, By Product

5.1 Introduction

5.2 Patio

5.2.1 Market Estimates & Forecast, 2018-2023

5.2.2 Market Estimates & Forecast By Region, 2018-2023

5.3 Window

5.3.1 Market Estimates & Forecast, 2018-2023

5.3.2 Market Estimates & Forecast By Region, 2018-2023

5.4 Freestanding

5.4.1 Market Estimates & Forecast, 2018-2023

5.4.2 Market Estimates & Forecast By Region, 2018-2023

5.5 Others

5.5.1 Market Estimates & Forecast, 2018-2023

5.5.2 Market Estimates & Forecast By Region, 2018-2023

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