Global Awning Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Awning Market 2021 (Includes Business Impact of COVID-19)
Global Awning Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global awning market report has been segmented on the basis of type, product, industry, and region.
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The global Awning market size was valued at USD$2706.59 billion in 2020 and is projected to reach $4939.93 billion by 2030, and is anticipated to expand at a CAGR of 6.63% over the forecast period from 2020 to 2030.


Global Awning Market: Overview


An awning is a piece of material which is attached to a building or caravan and provides shelter from the sun or rain. There are many varieties of different types of awnings available in the market depending upon the requirement of customer. Awnings offer numerous benefits for home and commercial space such as keeps cool in hot summer days, protecting from harmful effects of ultraviolet rays, helps to prevent carpets and furniture from fading, adds an outdoor room that can be virtually bug-free, protecting from the rain while sitting outside. Generally, awnings are made up of cotton, wood, canvas, and metal material.


Global Awning Market: Dynamics


Growing demand for awning in house, shops, and restaurant, hotels, due to its high durability and unique design are the major key factors expected to drive the revenue growth of the target market over the forecast years. In addition, rising per capita income level coupled with urbanization, increasing investments for the development of commercial spaces are some of the other factors expected to drive revenue growth of the target market. However, fluctuating raw material prices and high cost are major factors expected to hamper the growth of the target market to a certain extent.


Global Awning Market: Segment Analysis


Among the type segments, the retractable awning is expected to register the highest market share in terms of revenue. This is primarily attributed to, increase in installation of retractable awning with advance features in the residential sectors. Among the product segments, patio is expected to witnessed highest market revenue share over the forecast period, owing to increasing preferences for patio on various occasions such as lunch, sun bath, gathering, dinners, etc. Among the industry, the commercial is expected to hold significant share as compared to other industry type.


Global Awning Market: Trends


Established player are focusing on launching a new product with innovative materials and new decorative design which are useful for windows as well as doors, and is major trend observed in the global awning market.


Global Awning Market: Regional Analysis


The markets in Europe is projected to contribute major share in the target market over the forecast period. This can be primarily due to, growing textile industry and increasing number of construction activities. The market in the Asia Pacific is projected to witness the highest CAGR over the forthcoming years. This is owing to, increasing number of fabric manufacturing plants in countries such as India, Australia, China, Malaysia, Singapore, and Thailand. The market in Latin America and MEA is expected to stimulate growth over the next ten years, due to rising disposable income of consumers.


Below are the active patents related to Awning Market.


Patent Number: US7861990B2

Combination awning bracket and light support system

Abstract

Components for constructing and installing an awning and light support system to provide sun and weather protection to a window or door of a structure are disclosed. Included are a pair of uniquely-constructed bracket members having an L-shaped configuration used to removably secure horizontally-disposed supports and awning spars to provide a frame to support the awning material or skin. Also disclosed is an awning support structure comprising a support channel that extends along the top of an awning and supports a corresponding member attached to an awning frame. In some instances, the awning may be further supported by awning projection props secured between the awning frame and the building at a lower portion of the awning.

Application File Date: 2007-11-30

Application Granted Date: 2011-01-04

Inventor :Michael S. Barnes

Patent Number: US20140251552A1

Retractable awnings

Abstract

An awning is provided that includes a canopy. The awning includes a canopy frame. The canopy frame includes an inner member configured to be mounted to an upright support such as an exterior wall. The canopy frame also includes a first foldable arm and a second foldable arm. Each of the arms includes an inner portion coupled with the inner member and an outer portion. The canopy frame also includes an outer member coupled with the outer portions of each of the first and second foldable arms. The canopy frame is configured such that upon initial retraction of the canopy, the first foldable arm begins folding prior to the second foldable arm.

Application File Date: 2013-03-11

Application Granted Date: 2016-10-18

Inventor: Oliver Joen-An Ma

Global Awning Market Segmentation:

Segmentation by type:

  
Fixed Awning
  
Retractable Awning

Segmentation by product:

  
Patio
  
Window
  
Freestanding
  
Others Standing Slings

Segmentation by industry:

  
Commercial
  
Residential


Key Market Players included in the report:


  
Advanced Design Awnings & Signs (US)
  
Awning Company of America
  
Carroll Awning Co.Inc. (US)
  
Eide Industries Inc. (US)
  
KE Durasol Awnings Inc. (US).
  
Marygrove Awnings (US)
  
Nuimage Awnings (US)
  
Sun setter Products.
  
Sunair Awnings
  
Sunsetter Products Getinge Group


Below are the key development related to Awning Market in 2020 and 2021.


April 2021: Lippert Acquired Markdorf, Germany-Based Schaudt With Newly-Formed German Subsidiary. LCI Industries (NYSE: LCII), through its wholly-owned subsidiary, Lippert Components, Inc. (“Lippert”) which supplies a broad array of highly engineered components for the leading original equipment manufacturers ("OEMs") in the recreation and transportation product markets, and the related aftermarkets of those industries, announced that its new wholly-owned German subsidiary, LCI Industries GmbH, acquired 100% of the shares of Schaudt GmbH Elektrotechnik & Apparatebau (“Schaudt”), a leading supplier of electronic controls and energy management systems for the European Caravan Industry. Source

November 2020:Lippert Components Subsidiary Completes Acquisition of Challenger Door. LCI Industries (NYSE: LCII) announced that its wholly-owned subsidiary, Lippert Components, Inc. (“LCI”), a supplier of a broad array of highly engineered components for the leading original equipment manufacturers (“OEMs”) in the recreation and transportation product markets, and the related aftermarkets of those industries, has acquired substantially all of the business assets of Challenger Door, LLC (“Challenger Door”), a leading manufacturer and distributor of branded doors for the RV industry and products for specialty and cargo trailers. Source