Global Awning Market: Analyzing Its Emerging Trends and Investment Opportunities (2018–2025)

Awning Market Size, Share, Competitive Landscape and Trend Analysis Report

Allied Market Research published a report on the awning market which states that the industry is expected to gather a revenue of $11,042.7 million in 2025. The sector accounted for $6,765.8 million in 2017 and is projected to rise at a CAGR of 6.2% during 2018–2025. The study classifies the landscape into various segments based on type, product, and industry. Each segment is analyzed in detail to assist companies in making the right investment decisions.

A Look at the Evolving Industry Dynamics

Awning sheets are roof-like secondary structures that use fabrics and similar other materials to cover windows, patios, doors, or gardens. The increase in demand for awnings from different residential and commercial spaces across the globe is expected to help the industry flourish. Moreover, the availability of a wide range of products has increased their applicability in different sectors, thus creating new growth opportunities in the landscape. Additionally, advancements in fabric technology have also played a huge role in the expansion of the industry.

Along with the growth drivers, the AMR study also covers the performance of the landscape in various regions across the globe including North America, LAMEA, Europe, and Asia-Pacific. Almost all the significant demographic, socioeconomic, administrative, political, and cultural factors influencing the industry are analyzed as part of this exercise. The report states that Asia-Pacific countries such as India, China, Japan, etc., have experienced an immense rise in the demand for fixed and retractable awning systems, thus broadening the scope of the market in the region.

Upcoming Trends in the Market

The AMR report states that the awning market is expected to witness huge growth in the coming period due to the integration of several advanced technologies. For instance, leading companies in the market are using additive manufacturing techniques such as 3D printing to design customized products tailored to suit the unique needs of different industries. Similarly, several residential space developers are introducing smart home automation techniques in awning products to enhance the aesthetic sense of the building. Moreover, businesses are shifting toward recycled fabric and plastic sheets to manufacture environmentally sustainable sheets, thus reducing the carbon footprint of the industry.

Key Players Profiled in the Market Report

The AMR report also offers an in-depth analysis of the competitive scenario of the market using scientific analytical tools such as Porter’s five forces. The main intent of the study is to aid companies in developing a comprehensive understanding of the industry. Additionally, the study also features interviews with the major stakeholders of the landscape and provides profiles of the key businesses in the sector. The leading companies studied in the report include:

• Advanced Design Awning & Sign
• KE Durasol
• Sunair Awnings
• Awning Company of America
• Marygrove awning
• Sunesta
• Carroll Awning
• NuImage Awnings
• Sunsetter Products
• Eide Industries

To conclude, the AMR report offers precise actionable data and accurate market intelligence of the various aspects of the industry. The segmental and regional analyses provided in the study enable companies to formulate their expansion strategies accordingly.