Awning Market is expected to reach USD 13.78 billion in 2029: Returns on Investment, Growth Hubs and Mergers and Acquisitions
Pune, 5, Dec, 2022 Maximize Market Research has recently released a new research study titled “Awning Market Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2029”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios. The market is expected to grow from USD 8.25 billion in 2021 to USD 13.78 billion in 2029, at a CAGR of 6.62 percent for the forecast period from 2022 to 2029.
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Awning Market Scope and Methodology
The Awning market study includes an overview of the industry’s major players as well as a detailed analysis of their operations. It comprises a business overview as well as specific details about the company’s services and industries served. The PESTEL and SWOT analyses of the industry are also included in the report study. The Awning market study provides a description of the industry’s key players as well as an in-depth analysis of the businesses. The report includes a market dynamic analysis and a Porter’s five forces model analysis to help the customer evaluate the competitive landscape of the major providers in the global Awning market. Experts from top manufacturing companies along with other stakeholders have been considered in the report of Awning Market for Industry Analysis.
Awning Market Overview
The Awning industry growth is driven by the private expenditures on construction and development project, which offer modified infrastructural facilities. The awning has a high demand in commercial areas and residential buildings. It is available in different styles, patterns, and colours and provides shade, offers protection from rain or snow and helps to prevent carpets and furniture from fading in sunlight. The environmental awareness among consumers and adoption of green alternative is expected to drive the demand for awnings in residential applications. Awnings are assisting to save energy consumption in summer and winter.
Awning Market Dynamics
The requirement for luxurious accommodation, growth in disposable income, requirement for attractive outdoor living spaces, and guard from the sun are some of the driving factors that are increasing the integration of awning. The availability of different patterns, colors, and fabrics in awnings are offering attractive opportunity to buy the product foe customers. Key players operating in the market are focusing on making state-of-the-art awnings with advanced technology along with recyclable products which is expected to boost the awning demand. Furthermore, High investment in construction activities across developing economies like China and India is expected to increase the growth of the awning market during the forecast period.
The retractable awnings market is expected to grow at a more than 4.65% rate of CAGR during the forecast period because of its consumer satisfactory advantages. It includes adjustable extensions which delivers denser shade from glare and direct sunlight compared to that of a window. One of the key factors that are expected to boost the growth of the retractable awnings market during the forecast period are the high acceptance amongst the consumers. It has a superior features like flexibility, optimizes space usage and helps in the purpose of trendy shading systems. They are easy to install, and are cost effective. The expansion of the commercial sector, restaurants, and cafes, which is inclining towards the idea of open sitting areas is expected to drive the retractable awnings market growth.
Awning Market Regional Insights
Asia Pacific region is projected to be leading region
An increase in construction activities across developing region like China, India are expected to drive the market growth. The Asia pacific region is expected to grow at a more than 8.25% rate of CAGR during the forecast period. High product adoption in the commercial sector especially in India and China, integration of awnings and wide usage of motorized retractable products in the residential sector are boosting the demand for awning. The global awning market report research study is segmented into many important nations, each with market size, growth rate, import and export information. North America (US, Canada, Mexico), Europe (UK, Germany, France, Spain, Italy, Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, ASEAN Nations, Rest of APAC), South America, Brazil, and the Middle East and Africa are among the regions and countries included in the research.
Awning Market Segmentation
Awning Market Key Competitors
- Advanced Design Awning & Sign
- Awning Company of America
- Carroll Awning
- Eide Industries
- KE Durasol
- Marygrove Awning
- Pure Leaf Naturals
- Yuyo Drinks Ltd.
- Santo Pipó
- Kraus Yerba Mate
- La Virginia
- Mate Factor
- Wisdom Natural
- La Tranquera
Key questions answered in the Awning Market are:
- What are Awning?
- What is the growth rate of Awning Market over the forecast period?
- What is the nature of competition in Awning industry in developed and developing economies?
- Who are the key players in the Awning Market?
- Who are the market leaders in Awning in Asia Pacific?
- Who are the market leaders in Awning in Japan and China?
- Who are the market leaders in Awning in India, China, Japan and South Korea?
- What are the factors affecting growth in the Awning Market?
- Who held the largest market share in Awning Market?
- What are the factors for the growth of Asia-Pacific region in Awning Market?
- Market Share, Size & Forecast by Revenue | 2022−2029
- Market Dynamics – Growth Drivers, Restraints, Investment Opportunities, and Key Trends
- Market Segmentation – A detailed analysis by Segment and Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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