The global awnings market is expected to grow at a strong compound annual growth rate (CAGR) of 6.62% over the projected period. The market's estimated value in 2023 was USD 9,108.35 million, and it is expected to reach a significant value of USD 15,997.44 million by the conclusion of the forecast period, which spans 2024-2032.
Growing need from commercial and residential spaces to fuel market demand, as well as rising environmental consciousness and energy efficiency. Concerns The Global Awnings Market is being driven by factors such as fueling growth and driver impact analysis.
Technological improvements in the awnings business are dramatically changing the sector, making awnings more convenient, efficient, and appealing to modern consumers.
Market Segment insights
The Awnings Market has been split into two types: fixed and retractable. The Fixed category dominated the global market in 2024, with the Retractable sector expected to grow the fastest throughout the forecast period. Fixed awnings are structures that are permanently linked to a building and provide regular shade and weather protection.
Customization and visual appeal are becoming more essential. Consumers seek awnings that not only provide functionality but also improve the visual attractiveness of their homes. This contains many colors, patterns, and designs.
The market is divided into four product segments: patio, window, freestanding, and others.
The market is divided into two segments based on the end user: residential and plant based.
Regional insights
By region, The global awnings market is divided into five regions: North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The Europe Awnings market accounted for the biggest market share in 2024, with APAC predicted to develop at a considerable CAGR over the study period. Europe is another major awning market, with considerable contributions from Germany, France, Italy, and the United Kingdom. Awnings are in high demand due to regional architectural styles, energy-saving policies, and consumer preferences. Europe has strict limits on energy use and building efficiency.
Awnings made of recyclable or sustainable materials are gaining popularity, since they correlate with the larger movement for green building principles. European clients frequently seek customisable, aesthetically beautiful awning designs that complement the architectural characteristics of their homes. High-end, designer awnings with elaborate patterns or minimalist designs are especially popular in cities.
The APAC area, which includes China, India, Japan, and Australia, is emerging as an important awning market because to fast urbanization, an expanding middle class, and increased construction activity. Rapid urbanization, notably in China and India, has resulted in an increase in residential and commercial building, driving demand for architectural upgrades like awnings.
Major Players
ADVANCED DESIGN AWNINGS & SIGNS, Eide Industries, Inc., Awning Company of America, Inc., SUNESTA, SUNSETTER PRODUCTS, NUIMAGE AWNINGS, CARROLL AWNING COMPANY, MARYGROVE AWNINGS, KE DURASOL AWNINGS INC., SUNAIR AWNINGS, RAD GLOBAL (P) LIMITED | HIPPO PLAST, and others are among the market's major players.
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