Global Portable Fabric Canopies Market 2018-2022
About Portable Fabric Canopies
A portable canopy, also known as pop-up canopy or portable gazebo made of fabric, is a shelter that collapses down to a size that is portable. These canopies come in various sizes depending on the use.
Technavio’s analysts forecast the global portable fabric canopies market to grow at a CAGR of 3.65 % during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global portable fabric canopies market for 2018-2022. To calculate the market size, the report considers the revenue generated from the sales of portable fabric canopies.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Portable Fabric Canopies Market 2018-2022
Technavio recognizes the following companies as the key players in the global portable fabric canopies market: SHELTERLOGIC CORP., The Coleman Company, International E-Z UP, Caravan Global, and KD Kanopy
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increase in M&A. The leading vendors of the global portable fabric canopies market have been undergoing a series of mergers and acquisitions to increase their market presence and attain the economies of scale. Many vendors are undertaking numerous strategic initiatives to increase their global presence in this market. For instance, SHELTERLOGIC CORP. acquired several product brands from Bravo Sports, which includes QuikShade, ShadeTech, Solo, QuikChair, MotoShade, and GO. The acquisition further diversifies their range of portable fabric canopies and significantly increasing their product offerings”
According to the report, one of the major drivers for this market is Rise in number of outdoor restaurants and recreational activities. Pubs and outdoor restaurants like QSRs, pubs, hotels, and cafes that cater to changing consumer preferences and lifestyle choices have experienced a hike over the last few years. Consequently, the pub culture has undergone a constant evolution, mostly due to the increase in the millennial population base who frequent these places. Factors like rising dual-household income, increasing number of working women, hectic work schedules, increasing urbanization, and improved living standards are responsible for the growing demand for these places. At present, food service vendors are coming up with innovative infrastructure involving different themes, thereby fostering the demand for portable fabric canopies.
Further, the report states that one of the major factors hindering the growth of this market is High competition in the market due to fragmentation. The global portable fabric canopies market is highly fragmented with the presence of a considerable number of vendors. They range from multi-national companies that manufacture a wide range of products on a global scale, to medium-sized and small companies that focus on a single product line. Therefore, identifying the differentiating factors between the product offerings of various vendors becomes difficult. This has resulted in intense market competition and price volatility. Manufacturers can sustain this highly competitive market if they continue to offer innovative products, which can be differentiated by consumers. Hence, the fragmented nature of the market is a major challenge have its impact during the forecast period and will affect market growth at present.
SHELTERLOGIC CORP., The Coleman Company, International E-Z UP, Caravan Global, and KD Kanopy
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