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Global Canopy Market 2021: By Material (PTFE, ETFE, PVC, Polyester Cloth, Others), By Application (Shade Canopy, Event or Large Canopy, Others)Global Canopy Market is a recently produced report by Trusted Business Insights. Revenue details, deep insights and other important data and information related to the global market, along with various drivers, restraints, trends, threats, and opportunities are included in the report. Profiles of the key players operating in the global canopy market, along with key developments, revenue and financials, acquisitions & mergers, strategies, and market footprint is also included in detail. The Global Canopy market size was valued at USD $1.49 Billion in 2020, USD $1.55 Billion in 2021, forecasted to reach USD $1.6 Billion in 2022, and is projected to reach USD $2.11 Billion by 2030, and is anticipated to expand at a CAGR of 3.47% over the forecast period from 2020 to 2030.
OverviewA canopy is known as an overhead roof or a structure over which a metal covering or fabric is attached to provide shelter or shade from various weather conditions such as hail, sun, snow, and rain. A tent without a floor can also generally be called a canopy. Canopies provide solutions to all problems including protecting an area, keeping areas dry and safe, and it can also widen the living or working space in a building. Canopies can be customized depending upon requirements from consumers. There are both residential and nonresidential canopies available in the market. All kinds of businesses use canopies. Canopies in a school building bring many benefits including better outdoor learning opportunities, protection from harmful UV rays, more space to learn, improved play opportunities cooler classrooms, secure Time Saving storage, designated safe and covered waiting areas, and dry walkways between buildings. Likewise, residential canopies too bring numerous benefits to its users. In residential areas, consumers use it to sit outside in summer, which enables them to enjoy the cool and fresh air. Canopies protect them from harmful UV rays and sun while enjoying fresh air outside. Consumers also use canopies while on a tour or picnic when they spent time outdoors. Canopies are also used to cover walkways between two nearby buildings to keep people dry and safe while doing their businesses. Canopies have been around the corner for a long time but only recently it has been started using widely by consumers for different purposes.
DynamicsThe major factor expected to drive growth of the global canopy market over the forecast period is growing penetration of canopies in different non-residential and residential buildings. Major players in the global canopy market have been initiating numerous programs to increase awareness about benefits of using canopies in both residential and non-residential buildings. Other factors expected to drive growth of the market are rapid growth of the residential sector in the European and North American economies. Growing popularity of the trend, inside-outside living, is also expected to drive demand for canopies in the global canopy market over the forecast period. Advancements in manufacturing canopies are another factor that is expected to further drive demand for canopy in the global canopy market during the forecast period. Inclination of consumers towards adopting outside living while on a tour or picnic is another factor driving growth of the market. In addition, beautification offered by canopies and an increasing trend for expanded living space are projected to increase demand for the product over the forecast period. Attributed to adoption of canopies as shades in various residential buildings, demand for the product is expected to increase further. Moreover, installation of canopies in cars for various purposes is projected to increase demand for the product. Canopies are available as event or large canopies, shade canopies, portable garage canopies, and garden canopies. Moreover, canopies can be manufactured using different materials such as metals, fabric, wood, and glass. Depending upon the materials used and end-use purposes, applications of canopies vary. All these benefits and features of the product are expected to drive demand for canopies in the global canopy market.
Below are the leading companies profiled in this Canopy Market Report:
Chapter 1 Methodology and Scope