Awning Market

Market Overview:

The global awning market size reached US$ 9.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 13.0 Billion by 2028, exhibiting a growth rate (CAGR) of 6.3% during 2023-2028.

The awning is an architectural fabric used for weather protection and decoration purposes. It consists of a lightweight frame structure manufactured using aluminum, wood and iron, and attached with a hood and cover. It is commonly available in the sun, vertical, foldable and retractable variants. They are used over doors, windows, patios and gardens to improve the architectural design and coloring and are commonly available in a wide variety of fabrics, colors, patterns and sizes. Awnings are produced using cotton, wood, canvas and metallic materials to minimize exposure to ultraviolet (UV) rays, prevent carpets and furniture from fading and extend outdoor spaces. As a result, they are widely used across various residential, commercial and industrial complexes, such as retail outlets, hotels, restaurants, sports arenas and theaters.

Awning Market Trends:

Significant growth in the construction industry across the globe is one of the key factors creating a positive outlook for the market. Moreover, the increasing consumer preference toward expanded living space and beautification of luxurious buildings is providing a thrust to the market growth. Aluminum awnings are widely used as protective coverings as they are highly cost-effective, flexible, durable, energy-efficient and require low maintenance. Additionally, various product innovations, such as the integration of smart sensors to automatically retract the structure in storms and excessive rains, are acting as other growth-inducing factors. In line with this, the widespread adoption of adjustable motorized awnings with recyclable and sustainable fabric materials is also contributing to the market growth. Other factors, including the rising expenditure capacities of the consumers, along with extensive infrastructural development activities, especially in the emerging economies, are anticipated to drive the market toward growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global awning market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, product and end user.

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
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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 and Thompson Awning.

Report Coverage: