Awning Market was valued at USD 9.37 billion in 2023, and it is expected to reach USD 14.67 Billion by 2030, exhibiting a CAGR of 6.62 % during the forecast period (2024-2030)
Awning Market Overview:
This Awning market study looks at current and emerging industry trends and dynamics in the global Awning market. Awning Extensive market forecasting for the major market segments is carried out between 2024 and 2030. Extensive Awning market analysis is carried out by closely monitoring key product positions and the main competitors in the market framework. To understand the competitive landscape of the worldwide Awning market, key players are profiled and their strategies are thoroughly evaluated.
Market Scope:
The analysis contains a current examination of the present Awning market landscape, as well as the most recent trends and drivers, as well as an overview of the entire Awning market environment. Increased demand for Awning is driving the market. The Awning market research examines the technology, end-user, and type categories, among other things, as well as the geographical landscape.
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Segmentation:
The awning market is divided into Fixed and Retractable segments based on the type. Over the course of the forecast period, the retractable sector is anticipated to increase at a rate of more than 4.75% CAGR. Its demand is driven by a unique motorized approach in both the high-end residential and commercial sectors. Sun and heat damage can be effectively prevented for both indoor and outdoor furniture with a retractable patio awning. Compared to fixed awnings, their lifespan is longer. It is more common for fixed awnings to sustain damage and tear readily during storms. When a windstorm or significant snowfall occurs, retractable awnings are simple to fold up.
Key Players:
The market research report provides comprehensive quantitative insights that provide a clear picture of the worldwide market potential in a variety of categories, as well as country-by-country analyses in each covered topic. The analysis investigates the market's major influencing factors, as well as complete company profiles of
1. Advanced Design Awning & Sign (US)
2. A Awning Co of America Inc (US)
3. Carroll Architectural Shade (US)
4. Eide Industries, Inc (US)
5. KE DURASOL AWNINGS (US)
6. Marygrove Awning (US)
7. NuImage Awnings (US)
8. Sunair Awnings (US)
9. Sunesta (US)
10. SunSetter Products LP (US)
11. Global Awnings (US)
12. NuImagePro & NuImage Awnings (US)
13. Eclipse Shading Systems (US)
14. Awning Systems, Inc (US)
15. Alutex Awnings (US)
Regional Analysis:
Individual market influencing variables and changes in market laws that impact present and future market trends are also included in the regional segment of the Awning market study. Data points such as downstream and upstream value chain analysis, technology trends, porter's five forces analysis, and case studies are just a few of the indicators utilized to anticipate market scenarios for various industries. When examining projection data for the region, the existence and availability of global players, as well as the obstacles they face as a result of substantial or low to none competition from local and domestic brands, are all taken into account.
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COVID-19 Impact Analysis on Awning Market:
The COVID-19 epidemic has had a significant impact on the global Awning industry. Awning Production facilities were halted due to the global economic slump and a lack of manpower. The COVID-19 pandemic has led to a significant and extended drop in production utilization, and travel prohibitions and facility closures have kept personnel away from their facilities, causing the Awning market to decelerate in 2020. The negative impact of COVID-19 on the Awning market, on the other hand, is expected to be transitory, and the sector is expected to revive significantly by early 2023, owing to increased demand for Awning.
Key Questions Answered in the Awning Market Report are:
Which segment was responsible for the largest share in the Awning market?
How was the competitive scenario of the Awning market in 2023?
Which are the key factors responsible for the Awning market growth?
Which region held the maximum share in the Awning market in 2023?