Patio Umbrellas Market 2023 is growing rapidly due to changes in lifestyle

A patio umbrella is an umbrella that is designed and manufactured particularly for outdoor leisure use, and are often used in the backyard, outdoor commercial dining areas, pools, or patios. They have a long history, and first existed between 1100 and 1200 BC which associated them with royalty and nobility. Patio umbrellas are versatile and can be installed in several ways; they are typically used for sun protection. These umbrellas can be made of any material including wood, fiberglass, or aluminum. Recently, with the help of technological advancements, aluminum patio umbrellas have replaced the old fashioned wood market umbrellas due to their durability in the outdoors. A patio umbrella has become an essential piece of outdoor furniture equipment as it offers shade and coolness, as well as elegant aesthetics for outdoor living spaces.

Key factors driving the patio umbrellas market are changes in lifestyle, rapid urbanization redefining the way outdoors are conceptualized, and rise in demand for these umbrellas from the tourism industry. The patio umbrellas market is expected to expand at a rapid pace during the forecast period due to a rise in disposable income and the need for modular outdoor sitting areas. Patio umbrellas come in a number of designs and price ranges and can be customized according to consumer requirements depending on budget, taste, and personal preference. In addition, consumers can color-coordinate the umbrellas with the lounge chairs. The market is significantly driven by the residential construction industry and is expected to expand at a fast pace in the near future. In addition, construction industry expansion in emerging economies of Asia Pacific such as China and India is creating opportunities for the market.

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The global patio umbrellas market can be segmented based on type, material, application, distribution channel, and region. Based on type, the patio umbrellas market can be classified into cantilever umbrella, commercial umbrella, standard pole umbrella, tilt umbrella, and others (sail umbrella, offset umbrella). In terms of material, the patio umbrellas market can be categorized into wood, fiberglass, and aluminum. Based on application, the patio umbrellas market can be divided into residential and commercial. In terms of distribution channel, the patio umbrellas market can be classified into hypermarkets/supermarkets, specialty stores, online retailers, and others (brand outlets, independent vendors, etc.).

In terms of region, the global patio umbrellas market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is anticipated to dominate the global patio umbrellas market, followed by Europe and Asia Pacific. North America and Europe are anticipated to account for a major patio umbrellas market share, due to the urbane lifestyles, rise in disposable income, and high spending rate in the regions. Rapid urbanization and growth of the construction industry in emerging countries such as India and China are boosting sales of patio umbrellas in Asia Pacific. The popularity of outdoor living space in urbane residences is expected to increase in the coming years and is likely to be one of the major trends during the forecast period.

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Some of the leading manufacturers in the patio umbrellas market are Michael Caravita, Sun Garden USA, TUUCI LLC, Rusque, Ezpeleta Portugal, EdenGarden d.o.o., and Shadescapes Americas among others. Manufacturers are increasing their R&D capabilities to diversify their product range and are also making efforts to enhance product quality. Players are anticipated to face competition due to the presence of several local vendors. The entry of new players, pricing competition, and mergers & acquisitions are further intensifying the level of competition among manufacturers in the industry. This is likely to lead to the introduction of many advanced products in the patio umbrellas market during the forecast period.

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