Drivers and Challenges
The awnings market is driven by the growing home improvement market. Consumers are demanding more comfortable living spaces with improved standards of living. This has made home improvement and décor a top priority. Moreover, owing to the increase in globalization, many manufacturers are expanding their presence globally to promote innovations in home improvement products and grab the attention of retailers and consumers. In addition, the rise in the spending capacity of the millennial population for home improvements is expected to drive the global awnings market growth during the forecast period.
The increase in the use of blinds and shades in windows is a key challenge for the awnings market growth. Awnings are used to install in the windows, doors, and patios to protect and provide shade from heat and rain. However, blinds and shades are considered feasible substitutes. This is expected to hamper the sales of awnings and impact the awnings market growth during the forecast period. Moreover, these substitutes do not require separate components such as those in window awnings, which reduces the need for skilled manpower for installation. Thus, the rising demand for blinds and shades is expected to create a threat to the vendors in the awnings market.
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Major Awnings Companies and Their Offerings:
- Advanced Design Awnings and Signs - The company offers awnings with metal surfaces that are being used as an alternative to fabric awnings when graphics, softness, and look of fabric awnings are not required.
- Awning Company of America Inc. - The company offers canvas awnings that are available in eye-catching colors, patterns, and fabric selections.
- Eide Industries Inc. - The company offers a wide range of retractable awnings.
- KE USA Inc. - The company offers a wide range of retractable awnings such as retractable shade awning and retractable shading system.
- Marygrove Awning Co. - The company offers metal awnings that use substructures with durable finishes and come in a variety of different widths, gauges, and colors.
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Awnings Market Type Outlook (Revenue, USD bn, 2021-2026)
- Fixed - size and forecast 2021-2026
- Retractable - size and forecast 2021-2026
Awnings Market Geography Outlook (Revenue, USD bn, 2021-2026)
- North America - size and forecast 2021-2026
- Europe - size and forecast 2021-2026
- APAC - size and forecast 2021-2026
- South America - size and forecast 2021-2026
- MEA - size and forecast 2021-2026
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Awnings Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.47% |
Market growth 2022-2026 |
USD 2.50 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.24 |
Regional analysis |
North America, Europe, APAC, South America, and MEA |
Performing market contribution |
Europe at 33% |
Key consumer countries |
US, China, Germany, UK, and France |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
Advanced Design Awnings and Signs, Awning Company of America Inc., Carroll Architectural Shade, Eide Industries Inc., KE USA Inc., Marygrove Awning Co., NuImage Awnings, Springs Window Fashions LLC, Sunair Awnings, and Sunesta Products |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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