Global Awning Market

  • 4100.00 Dollar US$
  • Published date: January 13, 2021
    • Pune, Pune, Maharashtra, India [ Ads Views - 5 ]

Global Awning Market was valued US$ 7.53 Bn in 2019 and is expected to reach US$ XX Bn by 2026, at a CAGR of XX%. The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region. Awnings are sheets of fabric or other materials that are supported with a structure made of aluminum, iron, or wood. They have many applications, which show beneficial in both, the commercial plus residential sectors. They enhance style to homes by improving the architectural design and coloring. The global awnings market is expected to witness significant growth because of increasing use in the residential and commercial sectors. Rising demand in shops, houses, and hotels, due to toughness and the unique design is expected to force market growth over the estimated period. Moreover, rising demand for aluminum awnings in many applications with commercial windows, decorative, doors, and other residential will drive demand growth of the awnings market. Furthermore, as it helps as a protective coating its need will swell over the forthcoming years. In addition, fabrics and sheets that are available in different colors and patterns deliver various opportunities to customers. Nevertheless, variable harsh weather conditions hamper the growth of the awning market, particularly in regions that are prone to heavy snowfall & rainfall. Smart awnings with sensors to retract the structure in stormy or rainy weather are expected to boost the growth of the global awning market. In terms of the type, the retractable awning segment accounted for over one-third of the total market share in 2018 and is expected to continue its lead position in the forecast period. This segment would register the fastest CAGR of XX% from 2018 to 2026, due to its unique motorized technique and increase in its demand across high-end commercial and residential sectors. The fixed awning segment would grow at a moderate rate throughout the forecast period.

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