The Global Awning Market report gives a holistic view of the prevalent trends in the industry, market valuation, and the leading vendors to help the readers assess the products and services, hence realizing their revenue generation goals and cost-effectiveness of their investment. The recent trends observed in the packaging industry include sustainable material, environmentally-friendly packaging, smart packaging, vintage packaging designs, and minimalist packaging.
The Awning Market is forecasted to grow from USD 8.18 Billion in 2020 to USD 13.83 Billion by 2028, at a CAGR of 6.9% during the forecast period. The market is primarily driven by the increase in people’s inclination to embellish residential and commercial establishments and advances in fabric materials.
Awnings are sheets of fabric or other materials supported by an aluminium, iron, or wood structure. They can be deployed to provide shade at the door, window, patio, and gardens. They have numerous applications that both in the commercial and residential sectors prove beneficial.
Factors like expanded living space and sun protection, advances in fabric material, and luxury building embellishment drive market growth. Furthermore, smart awnings with sensors are expected to propel the growth of the global awning industry in stormy or rainy weather.
It is expected that high capital costs coupled with the need for skilled human resources will hamper the entry of new market entrants that is expected to impact growth over the forecast period.
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Key companies analyzed in the report include:
Advanced Design Awning & Sign (US), Carroll Awning (US), Awning Company of America (US), KE Durasol (US), Eide Industries (US), NuImage Awnings (US), Marygrove Awning (US), Sunesta (US), Sunair Awnings (US), and Sunsetter Products (US).
Type (Kilo Tons) (Revenue, USD Million; 2016-2026)
- Fixed
- Retractable
- Freestanding Awning
End User (Kilo Tons) (Revenue, USD Million; 2016-2026)
- Residential
- Commercial
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Regional analysis section covers assessment of key geographical regions of the world where the market has already established its presence. Key region analyzed in the report include North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report analyzes on the basis of production and consumptions, import/export, supply and demand, product developments, presence of key players in each region, their strategic initiatives, consumer demands, current and emerging trends, and other macro- and micro-economic factors affecting the growth of the market in the region.
Regional analysis covers:
- North America (U.S.A., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Growth Prospects:
The packaging sector has been attempting to gain momentum in the past couple of years on the back of the massive boom of the e-commerce industry. The market growth will be credited to the e-commerce transport and shipment, personal care, household, food and beverage, and healthcare sectors for convenience packaging.
These aspects have pushed leading players to dedicate their resources towards new packaging designs or to reinvent existing packaging designs to accommodate higher convenience and manageability, which will drive the global Awning market growth. The vintage packaging sector is also experiencing high demand, and even though it targets a limited consumer base, it is expected to grow at a rapid pace in the coming years.
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