The Awnings Market size was USD 9006.90 million in 2023 and is expected to Reach USD 14906.39 million by 2031 and grow at a CAGR of 6.5% over the forecast period of 2024-2031.
The growth of the market is driven by the current urbanization trend. As cities grow, outdoor spaces such as patios, balconies and terraces have become essential living spaces. Awnings provide a solution that maximizes the usability of these spaces by providing shade and protection. Additionally, the demand for aesthetically pleasing exterior designs drives the demand for stylish and customizable awning options.
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Concerns about energy efficiency have also driven the awning market forward. By providing shade for windows and outdoor spaces, awnings help regulate indoor temperatures, reducing the need for air conditioning and there by contributing to energy savings. This aspect becomes increasingly important as sustainability and eco-friendly living habits become more and more central to consumer choices.
Advances in technology have brought innovative features to the awning market. Motorized awnings with remote control and sensors adjust to weather conditions for improved user comfort. In addition, solar-powered roofs, incorporating photovoltaic technology, have appeared, allowing for energy generation while providing shade. The retail sector plays an important role in the distribution of awnings, offering a wide range of designs, materials and sizes to meet the diverse needs of customers. From movable awnings that can be adjusted as needed to fixed awnings designed for long-term installation, the market offers options suitable for both residential and commercial environments.
KEY DRIVERS:
Growing trends in urbanization and outdoor living
The demand for effective open space is growing as the urban area expands. Awnings are a solution to this problem, because they create usable and pleasant spaces within dense urban environments such as terraces or decks.
Demand for awnings is driven by the necessity of protecting against changes in weather patterns.
RESTRAIN:
Increased costs of installation and maintenance
While some consumers, in particular those on price sensitive markets, may be deterred by the initial installation and continuing maintenance costs of awnings, they can nevertheless benefit from a longer lasting advantage.
OPPORTUNITY:
Growth in the commercial and hospitality industry
An increasing number of restaurants, cafes, hotels and event spaces are making investments in outdoor seating areas. There is considerable potential for growth by targeting the business sector.
Development of awnings using environmentally friendly materials and sustainable production practices.
CHALLENGES:
Limited space and property constraints
There is not sufficient space for awnings installations on all properties, in particular densely inhabited areas. This is the reason that this possibility of customer base is limited.
The war caused the prices of raw materials used to make awnings soar, such as steel and aluminum. Aluminum prices have increased by more than 50% since the start of the war. This is because Russia is the world's second largest aluminum producer and the war has disrupted shipments from the country. As a result, there is less aluminum on the market, which has pushed up prices. This is due to supply chain disruptions and growing demand for these materials from other industries. Oil prices are expected to remain high in times of war. This can put pressure on awning companies as they will need to use more energy to produce awnings. In the United States, steel prices have increased by 20% since the beginning of the war. Demand for awnings in the European Union fell 2% in the first quarter of 2023.
The economic downturn is expected to have a negative impact on the awning market. This is because consumers tend to cut back on non-essential spending, such as awnings. In addition, the high cost of raw materials such as steel is also expected to put pressure on the market. The awning market in the United States is expected to decline by 2% in 2023. The awning market in Europe is expected to decline by 1% in 2023. The awning market in Asia Pacific is projected to decline by 1%. is expected to grow by 3% by 2023. The economic downturn is expected to have a more pronounced impact on the awning market in developed countries like the United States and Europe. Indeed, consumers in these countries are more likely to reduce non-essential spending. The awning market in developing countries like India and China is predicted to be less affected by the economic downturn. Indeed, consumers in these countries are still in a period of economic growth and are more likely to invest in non-essentials, such as awnings. Commodity prices, such as steel, are expected to remain high during a recession. This could put pressure on companies that provide awnings as they will have to pass these higher costs on to consumers. Credit capacity is expected to decrease during a recession. This can make it difficult for awning businesses to get the financing they need to grow or expand.
By Type
Fixed
Retractable
By Product Type
Window
Patio
Freestanding
Others
By Application
Residential
Non-residential
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Asia Pacific Awnings market is expected to hold the larges market share of almost 40% in the year 2022. China holds the largest market share in this region.
The demand for awnings in the North American region is growing with the significant market share. Awnings is widely consumed in US and production is also high. After the pandemic the mergers and acquisition was at the peak. US Awnings market holds the largest market share in this region and US is also the fastest growing market over the forecast period.
Europe market is expected to grow significantly over the forecast period. The market is expected to grow slow due to the disruptions in the supply chain, high scale manufacturing and decrease in construction activities. There is a demand for the awnings made from ecofriendly materials.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
Some major key players in the Awnings market are Durasol Awnings, Awning Company of America Inc, Aristocrat, Carrroll Awning Company, A&A International, Nulmage, Levens Australia, Eide Industries Inc, Orion Blinds, Thompson Awning Company and other players.
The acquisition of American Awning and Sign by AP Awning Partners was announced in October 2020 and is expected to have a positive impact on the company’s growth
| Report Attributes | Details |
| Market Size in 2023 | US$ 9006.90 Bn |
| Market Size by 2031 | US$ 14906.39 Bn |
| CAGR | CAGR of 6.5 % From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • by Type (Fixed, Retractable) • by Product Type (Window, Patio, Freestanding, Others) • by Application (Residential, Non-residential) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Durasol Awnings, Awning Company of America Inc, Aristocrat, Carrroll Awning Company, A&A International, Nulmage, Levens Australia, Eide Industries Inc, Orion Blinds, Thompson Awning Company |
| Key Drivers | • Growing trends in urbanization and outdoor living • Demand for awnings is driven by the necessity of protecting against changes in weather patterns. |
| Key Restraints | • Increased costs of installation and maintenance |
Ans: The Awnings Market is expected to grow at a CAGR of 6.5%.
The Awnings Market size was USD 9006.90 million in 2023 and is expected to Reach USD 14906.39 million by 2031.
Ans: Growing trends in urbanization and outdoor living is increasing the demand for the awnings.
Ans: Increased costs of installation and maintenance is hampering the market growth.
Ans: Asia Pacific region is dominating the market.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Russia-Ukraine war
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
4.3 Supply Demand Gap Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Awnings Market Segmentation, By Type
8.1 Fixed
8.2 Retractable
9. Awnings Market Segmentation, By Product Type
9.1 Window
9.2 Patio
9.3 Freestanding
9.4 Others
10. Awnings Market Segmentation, By Application
10.1 Residential
10.2 Non-residential
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Awnings Market by Country
11.2.2North America Awnings Market By Type
11.2.3 North America Awnings Market by Product Type
11.2.4 North America Awnings Market by Application
11.2.5 USA
11.2.5.1 USA Awnings Market By Type
11.2.5.2 USA Awnings Market by Product Type
11.2.5.3 USA Awnings Market by Application
11.2.6 Canada
11.2.6.1 Canada Awnings Market By Type
11.2.6.2 Canada Awnings Market by Product Type
11.2.6.3 Canada Awnings Market by Application
11.2.7 Mexico
11.2.7.1 Mexico Awnings Market By Type
11.2.7.2 Mexico Awnings Market by Product Type
11.2.7.3 Mexico Awnings Market by Application
11.3 Europe
11.3.1 Eastern Europe
11.3.1.1 Eastern Europe Awnings Market by Country
11.3.1.2 Eastern Europe Awnings Market By Type
11.3.1.3 Eastern Europe Awnings Market by Product Type
11.3.1.4 Eastern Europe Awnings Market by Application
11.3.1.5 Poland
11.3.1.5.1 Poland Awnings Market By Type
11.3.1.5.2 Poland Awnings Market by Product Type
11.3.1.5.3 Poland Awnings Market by Application
11.3.1.6 Romania
11.3.1.6.1 Romania Awnings Market By Type
11.3.1.6.2 Romania Awnings Market by Product Type
11.3.1.6.4 Romania Awnings Market by Application
11.3.1.7 Turkey
11.3.1.7.1 Turkey Awnings Market By Type
11.3.1.7.2 Turkey Awnings Market by Product Type
11.3.1.7.3 Turkey Awnings Market by Application
11.3.1.8 Rest of Eastern Europe
11.3.1.8.1 Rest of Eastern Europe Awnings Market By Type
11.3.1.8.2 Rest of Eastern Europe Awnings Market by Product Type
11.3.1.8.3 Rest of Eastern Europe Awnings Market by Application
11.3.2 Western Europe
11.3.2.1 Western Europe Awnings Market by Country
11.3.2.2 Western Europe Awnings Market By Type
11.3.2.3 Western Europe Awnings Market by Product Type
11.3.2.4 Western Europe Awnings Market by Application
11.3.2.5 Germany
11.3.2.5.1 Germany Awnings Market By Type
11.3.2.5.2 Germany Awnings Market by Product Type
11.3.2.5.3 Germany Awnings Market by Application
11.3.2.6 France
11.3.2.6.1 France Awnings Market By Type
11.3.2.6.2 France Awnings Market by Product Type
11.3.2.6.3 France Awnings Market by Application
11.3.2.7 UK
11.3.2.7.1 UK Awnings Market By Type
11.3.2.7.2 UK Awnings Market by Product Type
11.3.2.7.3 UK Awnings Market by Application
11.3.2.8 Italy
11.3.2.8.1 Italy Awnings Market By Type
11.3.2.8.2 Italy Awnings Market by Product Type
11.3.2.8.3 Italy Awnings Market by Application
11.3.2.9 Spain
11.3.2.9.1 Spain Awnings Market By Type
11.3.2.9.2 Spain Awnings Market by Product Type
11.3.2.9.3 Spain Awnings Market by Application
11.3.2.10 Netherlands
11.3.2.10.1 Netherlands Awnings Market By Type
11.3.2.10.2 Netherlands Awnings Market by Product Type
11.3.2.10.3 Netherlands Awnings Market by Application
11.3.2.11 Switzerland
11.3.2.11.1 Switzerland Awnings Market By Type
11.3.2.11.2 Switzerland Awnings Market by Product Type
11.3.2.11.3 Switzerland Awnings Market by Application
11.3.2.1.12 Austria
11.3.2.12.1 Austria Awnings Market By Type
11.3.2.12.2 Austria Awnings Market by Product Type
11.3.2.12.3 Austria Awnings Market by Application
11.3.2.13 Rest of Western Europe
11.3.2.13.1 Rest of Western Europe Awnings Market By Type
11.3.2.13.2 Rest of Western Europe Awnings Market by Product Type
11.3.2.13.3 Rest of Western Europe Awnings Market by Application
11.4 Asia-Pacific
11.4.1 Asia-Pacific Awnings Market by country
11.4.2 Asia-Pacific Awnings Market By Type
11.4.3 Asia-Pacific Awnings Market by Product Type
11.4.4 Asia-Pacific Awnings Market by Application
11.4.5 China
11.4.5.1 China Awnings Market By Type
11.4.5.2 China Awnings Market by Product Type
11.4.5.3 China Awnings Market by Application
11.4.6 India
11.4.6.1 India Awnings Market By Type
11.4.6.2 India Awnings Market by Product Type
11.4.6.3 India Awnings Market by Application
11.4.7 Japan
11.4.7.1 Japan Awnings Market By Type
11.4.7.2 Japan Awnings Market by Product Type
11.4.7.3 Japan Awnings Market by Application
11.4.8 South Korea
11.4.8.1 South Korea Awnings Market By Type
11.4.8.2 South Korea Awnings Market by Product Type
11.4.8.3 South Korea Awnings Market by Application
11.4.9 Vietnam
11.4.9.1 Vietnam Awnings Market By Type
11.4.9.2 Vietnam Awnings Market by Product Type
11.4.9.3 Vietnam Awnings Market by Application
11.4.10 Singapore
11.4.10.1 Singapore Awnings Market By Type
11.4.10.2 Singapore Awnings Market by Product Type
11.4.10.3 Singapore Awnings Market by Application
11.4.11 Australia
11.4.11.1 Australia Awnings Market By Type
11.4.11.2 Australia Awnings Market by Product Type
11.4.11.3 Australia Awnings Market by Application
11.4.12 Rest of Asia-Pacific
11.4.12.1 Rest of Asia-Pacific Awnings Market By Type
11.4.12.2 Rest of Asia-Pacific Awnings Market by Product Type
11.4.12.3 Rest of Asia-Pacific Awnings Market by Application
11.5 Middle East & Africa
11.5.1 Middle East
11.5.1.1 Middle East Awnings Market by Country
11.5.1.2 Middle East Awnings Market By Type
11.5.1.3 Middle East Awnings Market by Product Type
11.5.1.4 Middle East Awnings Market by Application
11.5.1.5 UAE
11.5.1.5.1 UAE Awnings Market By Type
11.5.1.5.2 UAE Awnings Market by Product Type
11.5.1.5.3 UAE Awnings Market by Application
11.5.1.6 Egypt
11.5.1.6.1 Egypt Awnings Market By Type
11.5.1.6.2 Egypt Awnings Market by Product Type
11.5.1.6.3 Egypt Awnings Market by Application
11.5.1.7 Saudi Arabia
11.5.1.7.1 Saudi Arabia Awnings Market By Type
11.5.1.7.2 Saudi Arabia Awnings Market by Product Type
11.5.1.7.3 Saudi Arabia Awnings Market by Application
11.5.1.8 Qatar
11.5.1.8.1 Qatar Awnings Market By Type
11.5.1.8.2 Qatar Awnings Market by Product Type
11.5.1.8.3 Qatar Awnings Market by Application
11.5.1.9 Rest of Middle East
11.5.1.9.1 Rest of Middle East Awnings Market By Type
11.5.1.9.2 Rest of Middle East Awnings Market by Product Type
11.5.1.9.3 Rest of Middle East Awnings Market by Application
11.5.2 Africa
11.5.2.1 Africa Awnings Market by Country
11.5.2.2 Africa Awnings Market By Type
11.5.2.3 Africa Awnings Market by Product Type
11.5.2.4 Africa Awnings Market by Application
11.5.2.5 Nigeria
11.5.2.5.1 Nigeria Awnings Market By Type
11.5.2.5.2 Nigeria Awnings Market by Product Type
11.5.2.5.3 Nigeria Awnings Market by Application
11.5.2.6 South Africa
11.5.2.6.1 South Africa Awnings Market By Type
11.5.2.6.2 South Africa Awnings Market by Product Type
11.5.2.6.3 South Africa Awnings Market by Application
11.5.2.7 Rest of Africa
11.5.2.7.1 Rest of Africa Awnings Market By Type
11.5.2.7.2 Rest of Africa Awnings Market by Product Type
11.5.2.7.3 Rest of Africa Awnings Market by Application
11.6 Latin America
11.6.1 Latin America Awnings Market by country
11.6.2 Latin America Awnings Market By Type
11.6.3 Latin America Awnings Market by Product Type
11.6.4 Latin America Awnings Market by Application
11.6.5 Brazil
11.6.5.1 Brazil Awnings Market By Type
11.6.5.2 Brazil Awnings Market by Product Type
11.6.5.3 Brazil Awnings Market by Application
11.6.6 Argentina
11.6.6.1 Argentina Awnings Market By Type
11.6.6.2 Argentina Awnings Market by Product Type
11.6.6.3 Argentina Awnings Market by Application
11.6.7 Colombia
11.6.7.1 Colombia Awnings Market By Type
11.6.7.2 Colombia Awnings Market by Product Type
11.6.7.3 Colombia Awnings Market by Application
11.6.8 Rest of Latin America
11.6.8.1 Rest of Latin America Awnings Market By Type
11.6.8.2 Rest of Latin America Awnings Market by Product Type
11.6.8.3 Rest of Latin America Awnings Market by Application
12 Company profile
12.1 Durasol Awnings
12.1.1 Company Overview
12.1.2 Financial
12.1.3 Products/ Services Offered
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Awning Company of America Inc
12.2.1 Company Overview
12.2.2 Financials
12.2.3 Product/Services Offered
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 Aristocrat
12.3.1 Company Overview
12.3.2 Financials
12.3.3 Product/Services Offered
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 Carrroll Awning Company
12.4.1 Company Overview
12.4.2 Financials
12.4.3 Product/Services Offered
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 A&A International
12.5.1 Company Overview
12.5.2 Financials
12.5.3 Product/Services Offered
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 Nulmage
12.6.1 Company Overview
12.6.2 Financials
12.6.3 Product/Services Offered
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7 Levens Australia
12.7.1 Company Overview
12.7.2 Financials
12.7.3 Product/Services Offered
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Eide Industries Inc
12.8.1 Company Overview
12.8.2 Financials
12.8.3 Product/Services Offered
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Orion Blinds
12.9.1 Company Overview
12.9.2 Financials
12.9.3 Product/Services Offered
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 Thompson Awning Company
12.10.1 Company Overview
12.10.2 Financials
12.10.3 Product/Services Offered
12.10.4 SWOT Analysis
12.10.5 The SNS View
13. Competitive Landscape
13.1 Competitive Bench marking
13.2 Market Share Analysis
13.3 Recent Developments
13.3.1 Industry News
13.3.2 Company News
13.3.3 Mergers & Acquisitions
14. Use Case and Best Practices
15. Conclusion
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