According to IMARC Group’s latest report, titled “Awning Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global awning market size reached US$ 8.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 12.3 Billion by 2027, exhibiting a growth rate (CAGR) of 6.37% during 2022-2027.
Awnings are rooflike sheets, or architectural canvas that have high-quality textured cloth stretched and extended across aluminum, iron, or wood frames. They are installed on doors, windows, patios, and gardens to protect furniture and individuals from harmful ultraviolet (UV) radiation. Apart from this, awnings reduce air contamination in buildings, reduce the need for air conditioners and improve the architectural style of buildings with their property value. Consequently, they are used in outdoor spaces and industrial infrastructures for decoration and protection from the sun, storms, and rain.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Awning Market Trends:
A significant expansion in the construction sector and the increasing need for aesthetically-appealing textured tiles and fabrics have facilitated the awning deployment across residential and commercial structures, including restaurants, residences, and hotels, which is primarily driving the market growth. Furthermore, the emerging trend of building beautification and lavish design in extended living spaces and outdoors is favoring the market growth. Moreover, the growing demand for long-lasting, lightweight, water and stain-resistant, and low-maintenance awnings with the protective aluminum coating is propelling the market growth. Furthermore, various product innovations, such as the large-scale incorporation of smart sensors with the product to automatically retract the structure during storms and heavy rains, are impelling the market growth. Additionally, the introduction of motorized awnings, their availability in diverse fabrics, sheets, colors, and patterns, and the fueling uptake of recyclable and sustainable materials by key players to fabricate several product variants are propelling the market growth.
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Competitive Landscape:
- 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
Market Segmentation:
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 (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- 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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