Awning Market: Size, Dynamics, Regional Insights and Market Segment Analysis (2022-2029)

Awning Market was valued at US8.25 billion in 2021, and it is expected to reach USD 13.78 Billion by 2029, exhibiting a CAGR of 6.62% during the forecast period (2022-2029)
Awning Market Overview:
Awning is an architectural fabric projection that provides weather protection. The consumers are becoming increasingly conscious towards reducing their energy consumption levels. They have started investing in retractable or fixed awnings and shades in summer to keep their homes and shops cool. Awnings offers a cost-efficient solution, which helps to prevent harmful UV rays from damaging the artwork, furniture, floor. In the market, Awnings are provided with aluminium framework to support the fabric or other materials and powder coated framework is widely preferred in the construction sector.

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Key players operating in the market are focusing on the construction of impressive and state-of-art awnings & shades to revamp outdoor living space. They are offering an optional manual or electric drop-down valance on several awning models to provide shade from low lying sun and also provide additional privacy and warmth on cooler evenings by preventing a cool breeze in the outdoor area of building. Awning providers are using premium materials to manufacture awnings further making them hard-wearing and tough against harsh weather conditions.
Awning Market Dynamics
Manufacturers are offering attractive, attention-getting awnings featuring distinctive stripes, ornate valances and painted lettering and logos. Buyers have an option to select an awning, which is complementing the building and get both style and function in a relatively affordable package with a wide range of colour and pattern choices. Currently, awnings come in a variety of shapes, sizes, frames and fabrics. Fixed, quarter-round, back-lit awnings with broad faces featuring company names, logos, phone numbers, and street address function more as signs than sunshades. Restaurants and other commercial chains use illuminated awnings with nationally recognized brand graphics and stripe and color patterns to attract customers along suburban strips. Awnings have great appeal and provide natural climate control along with the drapes, curtains, shutters, and blinds. It provides comparable glare reduction and reduced heat-gain as tinted windows or window films, which are in keeping with the historic appearance of a building facade. They help protect historic windows and storefronts, and permit windows to remain open, and cool air to circulate, even during inclement weather.

The global awning market growth is expected grow at a rapid rate thanks to increase in usage of awning in the residential and commercial sectors. Expansion of shops, houses, and hotels restaurants are driving the demand for awning across developing countries because of its cost-effective features. Awning provides toughness and the unique design that drive its adoption in many applications with commercial windows, decorative, doors, and other residential. The requirement of awning as a protective coating is one of the key drivers in the market. The growth in the construction industry, increasing consumer preference toward energy efficient solutions, home renovation activities are boosting the awning market growth. Aluminum awnings are widely preferred as protective coverings as they are offer cost-effective, flexible, durable, energy-efficient solution and require less maintenance. Additionally, an integration of smart sensors in the awning to retract the structure automatically in storms and excessive rains are increasing the need for awning across residential and commercial applications.

On the other hand, Variable harsh weather conditions are expected to limit the growth of the awning market, mainly in regions that are prone to heavy snowfall & rainfall. A fluctuation in the prices of raw materials is expected to limit the awning market growth. The prices of raw materials are based on the adverse weather, the economy, and other conditions. Also, inability of any supplier of raw materials, independent co-packer or third-party distributor to deliver or perform in a timely or cost-effective manner are expected to impact negatively and reduces the profit margins.

New Features Added by Key Players Are Expected to Drive the Awning Market Growth

New features are being added by some awning producers, which include various types of sensors, controls and automatic devices. The sensors are automatically retracting the awnings in strong winds and prevent its fabric from being torn. Sun sensors retract or extend the awnings and remote controls can operate the awnings even across two concrete walls. The Radio sensors can sense the impact of wind on awning fabric before retracting the awning instead of just detecting wind speed. As with window treatments, some significant advancements in technology have made awnings more appealing to consumers and more profitable for sellers. The development of Nano-threading and coatings, the textiles being used offer substantial benefits to the consumer. A retractable and rotating louver roof systems, retractable fabric pergolas and retractable shade are some of the prominent trends are witnessing across residential and commercial applications in the awning market.
Economy Consideration for Key Players:
The economy most directly affects customers and awning contractors. It is clear that an awning system should not have to meet the same code requirements as a high-rise building. The designer must understand how to arrange, size and connect structural members so that the foreseeable loads will be transmitted to its supports while incorporating safety factors, without overengineering the system to develop an economical awning system. The awning industry and building and code officials should develop a working relationship to better understand the requirement. In addition, the industry members’ active involvement in implementing code changes is very important. The objectives should be to assure public safety and to avoid needless, expensive over-design. Prominent key players are increasing their sales by consumer advertising and promotion, which is expected to assist to build brand awareness and equity. Paid social and digital advertising and public relations programs are some of the prominent drivers for awning brand awareness. In addition, key players are focusing on the usage brand specific websites and social media pages to engage consumers with lifestyle, product and usage information related to specific awning brands.

The awnings manufacturers are making quality fabrics and material sheets to deliver enhanced protection and shade to the doors, windows, and patio. They are also focusing to provide awnings with unique designs and materials, which are used to add aesthetical value to the commercial space. The aluminium, wood, and iron framework have a high demand because of its features like high quality benefits to prolong the lifespan of the awnings.
Awning Market Segment Analysis
Based on the Type, the awning market is segmented into Fixed, and Retractable. Retractable segment is expected to grow at a more than 4.75% rate of CAGR during the forecast period. It has a unique motorized technique that drive its demand across high-end commercial and residential sectors. A retractable patio awning is an excellent way to protect both outdoor and indoor furniture from the harmful effects of heat and sun. They have a longer lifespan than fixed awnings. Fixed awnings are more expected to get damaged and easily torn during storms. Retractable awnings can easily fold up during a windstorm or heavy snowfall. Retractable awnings are made of vinyl, canvas, or water-resistant fabric. Solid demand for retractable types because of their protection feature from harmful sun rays is expected to boost market growth. Furthermore, as the need for high-quality retractable type grows to prevent heat gain, glare, and interior fading, the demand is expected to grow. Despite its high adoption across commercial and residentials sector, the high upfront costs of a retractable awning and requirement of maintenance and regularly cleaning are some of the factors that can limit the adoption of the awning.

By product, Window segment is expected to grow at a more than 5% of CAGR during the forecast period. Awnings for windows are helps to increase the value, elegance, and functionality of building. They allow consumers to install windows that are higher than many other types of windows. They also help to save money on energy cost and providing a touch of style and convenience.

By application, Commercial segment held the dominant position in 2021 and is projected to continue its dominance during the forecast period. Awning is widely preferred in commercial spaces like hotel, restaurants to improve the visual appeal of outdoor spaces. High investment in the commercial segment across developing economies are expected to boost the awning adoption.
Awning Market Regional Insights
Asia Pacific region is expected to grow at a CAGR of 7.56% rate during the forecast period. An increase in use of awnings in the residential sector, technology advancement in the textile sector and rapid expansion of construction sectors are some of the prominent factors behind the market growth. The ongoing smart city development projects across India, home renovation activates across China, India, Australia, Singapore, Malaysia, Thailand, and Vietnam are offering key opportunities for the key players.

The demand for vertical, stationary, cross arm, terrace, window, and pergola awnings across European countries like Germany, Italy, the Netherlands, Spain, Switzerland, and Austria are boosting the European awning market growth. The strong market growth and margin opportunities are increasing the attention of the key players, start up, and investors in Europe. The awning business is also providing a ripe space for capital investment opportunities because of the consistent success for awning installations. The modern trade development, changing consumer habits and dynamic product development are boosting the adoption awning. Key players are continuously seeking to understand their consumers and develop products that address their requirements. Demographics and awareness about energy efficient products among population in North America and Europe are high, which are expected to increase the adoption rate of awning.

Awning as an Emerging sector in the India:

According to the analysis, the Indian awning industry growth is at developing stage because of the high demand and comparatively low production volumes of the awnings and shades. With the development of lifestyle changes among Indian people, an upsurge in sales of awnings and shades are expected to increase the demand for awning during the forecast period. In India, Awnings can cost as little as Rs 150 per sq. feet and as high as Rs 1500 per sq. ft. The cost depends on the cost of fabric and main features of awning. Awnings are available in standard sizes as well as are produced in customized sizes if the requirement is large. Most of the suppliers come with a solution when the area, size and purpose according to the customization. Growth in disposable income and the requirement of protection from sun and harsh climate are driving the demand for awning in India. A restaurant and hotel owners are preferring awning to project their operation space with higher aesthetical values that boost the revenue of key players operating in the market.
Scope of the Report
Maximize Market Research Has Published a report entitled global Awning Market with Industry Analysis and Forecast to 2027. The primary goal of report is to understand the market in terms of definition, segmentation, market potential, significant trends, and the problems that the industry is facing with the 10 key regions and 50 major nations. The PESTEL and SWOT analyses of the industry are also included in the report study. The study includes a market attractiveness analysis that evaluates all segments based on market size, growth rate, and overall attractiveness in terms of investment potential and incremental revenue. The research reveals the growth strategies used by major players, including strategic alliances, new product creation, and so on. The research will help you obtain a better understanding of competitor pricing in the Awning market
Awning Market Scope: Inquire before buying



Awning Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 8.25 Bn.


Forecast Period 2022 to 2029 CAGR:
6.62%
Market Size in 2029:
US $ 13.78 Bn.


 Segments Covered:
by Product
• Patio
• Window
• Freestanding


by Type
• Fixed
• Retractable


by Industry
• Residential
• Commercial



Awning Market Manufacturing Companies are:
• Advanced Design Awning & Sign (US)
• A Awning Co of America Inc (US)
• Carroll Architectural Shade (US)
• Eide Industries, Inc (US)
• KE DURASOL AWNINGS (US)
• Marygrove Awning (US)
• NuImage Awnings (US)
• Sunair Awnings (US)
• Sunesta (US)
• SunSetter Products LP (US)
• Global Awnings (US)
• NuImagePro & NuImage Awnings (US)
• Eclipse Shading Systems (US)
• Awning Systems, Inc (US)
• Alutex Awnings (US)
• Carefree of Colorado (US)
• Vestis Systems (US)
• Polar Shades Sun Control (US)
• Awntech Corporation (US)
• Pella Corporation (US)
• Commercial Awnings Ltd (UK)
• MARKILUX GmbH + CO. KG (Germany)
• Warema Renkho SE (Germany)
• Schmitz-Werke GmbH (Germany)
• Mitjavila (France)
• Corradi SRL (Italy)
• SRF Limited (India)

Frequently Asked Questions:

1] What segments are covered in the Global Awning Market report?
Ans. The segments covered in the Awning Market report are based on Product, Type, Industry, End-Users and Frequency.

2] Which region is expected to hold the highest share in the Global Awning Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Awning Market.

3] What is the market size of the Global Awning Market by 2029?
Ans. The market size of the Awning Market by 2029 is expected to reach USD 13.78 Bn.

4] What is the forecast period for the Global Awning Market?
Ans. The forecast period for the Awning Market is 2021-2029.

5] What was the market size of the Global Awning Market in 2021?
Ans. The market size of the Awning Market in 2021 was valued at USD 8.25 Bn.