Awnings Market Size

Global Awnings Market Overview

Awnings Market Size was valued at USD 9017.02 million in 2023. The Awnings Market industry is projected to grow from USD 9589.60 million in 2024 to USD 15960.31 million by 2032, exhibiting a compound annual growth rate (CAGR) of 6.57% during the forecast period (2024 - 2032). The rise in demand from commercial spaces such as shops and hotels and residential spaces is contributing to the expansion of the Awning industry. Additionally, a significant factor driving market expansion is that awning market offers a variety of products that can help to expand living space and provide sun protection. Homeowners can choose from a range of options to find the perfect awning to suit their needs and preferences. However, the Unreliability in harsh weather condition restrain the growth of the market during the forecast period that will be ending in 2030.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Awnings Market Trends

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  GROWING DEMAND FROM COMMERCIAL AND RESIDENTIAL SPACES TO FUEL MARKET DEMAND

  
  

The Awnings market is seeing growing demand from commercial and residential spaces, including shops, hotels, and homes. Awnings are popular because they provide shade and protection from the elements, as well as add aesthetic appeal to buildings. Commercial spaces such as shops and hotels use awnings to create an inviting atmosphere for customers. Awnings can be customized to match the business's branding and color scheme and can also display signage or advertising. They also provide shade for outdoor seating areas, making them more comfortable and enjoyable for customers.

In residential spaces, awnings are popular for their functional and aesthetic benefits. Homeowners can use awnings to shade windows, patios, and decks, reducing energy costs and making outdoor spaces more comfortable. Awnings also come in a range of styles and colors, making them a great addition to any home's design. Overall, the demand for awnings is growing in both commercial and residential spaces, and manufacturers are responding by offering a range of products to meet the needs of different customers. This trend is likely to continue as more businesses and homeowners recognize the benefits of awnings for both practical and aesthetic reasons.

Awnings Market Segment Insights

Awnings Product Insights

The Awnings segmentation, based on Product, Patio, Window, Freestanding, Others. Patio segment is the largest segment of the market accounting for 35% of the market in 2021. Awnings are a popular choice for patios, as they provide shade and protection from the elements, making outdoor living spaces more comfortable and enjoyable. Awnings can be installed over a patio or deck, providing shade, and reducing heat and glare from the sun. There are many different types of awnings available for patios, including retractable awnings, which can be opened and closed as needed, and stationary awnings, which are permanently attached to the building. Awnings can be made from a variety of materials, such as canvas, acrylic, or metal, and come in a range of colors and styles to suit different preferences and needs. In addition to providing shade, awnings for patios can also be used to create a defined outdoor living space, adding visual appeal and functionality to a home's exterior. Awnings can also increase a home's value by enhancing its curb appeal and providing an additional selling point. As the demand for outdoor living spaces continues to grow, the awnings market is likely to see continued growth in the patio segment. Manufacturers are responding by offering a variety of innovative and customizable options to meet the needs of homeowners looking to enhance their outdoor living spaces.

April 2019: Two leading market players, Academy Awning Inc. and Zebra Awning Inc have joined hands to expand their representation and skills to further develop the awnings industry.

Jan 2019: One of the leading market players, Stella group have acquired CRH shutters, which was considered as the efficient strategy to become the leader in the awnings industry.

Awnings End-Use Insights

The Awnings Market data has been bifurcated by End-Use into Residential and Non-Residential. The Non-Residential segment accounts for the major market share. Non-residential awning end users may include businesses, such as restaurants, retail stores, and office buildings, as well as institutions like schools, hospitals, and government buildings. Non-residential awnings are often used to provide shade and protection from the elements, as well as to enhance the appearance of a building and create an inviting atmosphere. They can be made from a variety of materials, including fabric, metal, and polycarbonate, and can be customized to meet the specific needs of the end user.

Jan 2018: Sunbrella has released its fabric lineup for 2017-2018, as well as the fabrics it is discontinuing. Shade Collection brings the best in modern shade fabrics, with beautiful designs and the performance the shade industry has relied on for over half a century. Central to the shade collection are offerings that add dimension with unique textures such as specialty jacquards and mélange affects.

Figure 2:  Awnings Market, by End-User, 2021 & 2030 (USD Million)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Additionally, the use of non-residential awning include restaurant that uses an awning to create an outdoor dining area and protect customers from the sun and rain. Retail store that uses an awning to create a covered entrance and draw attention to its storefront. School that uses an awning to provide shade for students during outdoor activities. Hospital that uses an awning to create a covered drop-off area for patients and visitors. Government building that uses an awning to provide shade for employees and visitors entering and exiting the building.

Awnings Regional Insights

By Region, the study segments the market into North America, Europe, Asia-Pacific, Middle East and South America. Asia-Pacific Awnings Market accounted for the largest market share of 38.44% in 2021, with a market value of USD 3055.97 million; the region is expected to register a CAGR of 1.31% during the forecast period. The Asia Pacific market for Awnings has been further sub-segmented geographically into India, China, Japan, and Rest of Asia Pacific. Amongst them, China has the largest market by revenue in the region.

Further, the major countries studied are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, South Korea, and Brazil.

Figure 3:  AWNINGS MARKET SHARE BY REGION 2021 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

The demand for Awnings in North America is projected to grow over the forecast period owing to their potential benefits of the aluminum awnings such as lightweight and minimal maintenance. Moreover, Awning is widely produced and consumed in the United States. As a result of the COVID-19 pandemic's development, which caused a decline in both production and consumption activities, the upward growth trajectory of the U.S. market was significantly affected in 2020. However, during this time, regional players were increasingly the targets of  players' acquisition activities, which significantly grew. Further, the US Awnings Market held the largest market share, and the US Awnings Market was the fastest growing market in the North America region.

The Europe Awnings Market is expected to grow at a CAGR of 1.04% from 2022 to 2030. The market is expected to grow at a slower rate in 2020 because of disruptions in the supply chain, large-scale manufacturing, travel limitations, and decreased in construction activities. Due to the easing of restrictions, a rise in the production of Awning have been seen in the nation since the pandemic. The European Awnings market will be able to absorb all the losses experienced during this time and will continue to expand at a set rate. In terms of materials, fabric awnings, retractable awnings, sunsetter awnings, metal awnings, outdoor awnings are the most popular in Europe due to their versatility, durability, and aesthetic appeal. However, there is also a growing demand for awnings made from eco-friendly materials such as recycled fabrics and sustainable materials like bamboo.

 Hence, Germany is anticipated to register the highest growth rate over the forecast period from 2022–2030.

Awnings Key Market Players & Competitive Insights

The Awnings market is characterized by the presence of many , regional, and local vendors. The market is highly competitive, with all the players competing to gain maximum market share. Intense competition, frequent changes in government policies, and regulations are key factors that impact market growth. The Fixed Awnings Manufacturer, Terrace Retractable Awning Manufacturer compete based on cost, product quality, reliability, and services. The Awnings Manufacturer must provide cost-efficient and high-quality Awnings to sustain their presence in an intensely competitive market environment.

A few of the key players operating in the Awnings market are Awnings & Signs, SUN-AIR Awnings, Awning Company of America Inc., Carroll Awning Company, Nulmage, Durasol Awnings Inc., Eide Industries Inc., Aristocrat and many more. Players are engaged in the development of Awnings with superior durability and customization options. In addition, the vendors must provide cost-efficient and high-quality Awnings to sustain their presence in an intensely competitive market environment.

Key Companies in the Awnings Market includes.

• Awnings & Signs


• SUN-AIR Awnings


• Awning Company of America Inc.


• Carroll Awning Company


• Nulmage


• Durasol Awnings Inc.


• Eide Industries Inc.


• Aristocrat


• A&A International


• Thompson Awning Company


• Levens Australia


• Orion Blinds


• Somfy

Awnings Industry Developments

Jun 2017: NuImage proudly offers Sunbrella fabrics as its standard offering for retractable and stationary awnings. Sunbrella fabrics have been granted The Skin Cancer Foundation’s Seal of Recommendation, ensuring that its products help to protect you from the sun’s harmful UVA and UVB rays.

Awnings Market Segmentation

Awnings Type Outlook

• Fixed


• Retractable

Awnings Product type Outlook

• Patio


• Window


• Freestanding


• Others

Awnings End-user Outlook

• Residential


• Non-residential

Awnings Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World