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.

The awning is a lightweight frame structure manufactured using wood, iron, or aluminum and attached to a hood or cover. It is an architectural fabric that is used for decoration purposes and weather protection. Vertical, sun, retractable, and foldable are some of the commonly available variants in the market. It is available in umpteen colors, fabrics, sizes, and patterns and is produced using canvas, wood, cotton, and metals. Awnings also help in minimizing exposure to ultraviolet (UV) rays, extend outdoor spaces, and prevent carpets and furniture from fading. Thus, it is witnessing extensive demand across the commercial, industrial, and residential sectors.

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Global Awning Market Trends:

Awnings are highly cost-effective, energy-efficient, durable, flexible, and require low maintenance, which is one of the primary factors bolstering the market growth. The rapid expansion in the construction industry and the shifting consumers are providing a significant boost to market growth. Apart from this, rapid product innovations, such as the integration of smart sensors to automatically consumer preference toward expanded living spaces and beautification of luxurious buildings are other growth-inducing factors. The rapid infrastructural development activities and surging expenditure power of the retract the structure in excessive rains and storms, is creating a positive outlook for the market.

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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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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