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Retractable Awnings Market Research Report: Examined by Size, Trends, Share and Leading Supporting Factors through 2028 (Stationery Market by Region - North America, Europe, Japan, APEJ, MEA, Product Type – Pens, Mechanicals Pencils, Lead Pencils, Carbo
The retractable awnings market study provides lucid market intelligence on the key revenue growth, industry opportunities drivers, challenges as well as industry trends that will impact the growth trajectory of the retractable awnings market in the long run. An overview of the retractable awnings – in light of the current global consumer goods industry scenario – reveals interesting facets related to the adoption of retractable awnings across key regional markets worldwide. An assessment of some of the retractable awnings market indicators offers a thorough analysis derived from the retractable awnings value chain analysis, supply chain analysis, and the business performance of retractable awnings across various regional retractable awnings markets.
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Immense popularity of retractable awnings with their efficient UV filtration function is just the tip of the iceberg. Apart from creating cooling effect and maintaining indoor temperature, retractable awnings also aid in considerable cost cutting with respect to indoor power consumption. In addition, significant growth opportunities can be grabbed in the retractable awnings market with growing renovations and remodeling of houses and commercial spaces across the world. Furthermore, the demand for retractable awnings is expected to increase with increasing number of eateries, cafes and quick service restaurants that employ retractable awnings, considering them as an additional means of brand image visibility apart from their regular functionality.
That said, the increasing residential and commercial sectors are prevailing as a boon for players involved in manufacturing of retractable awnings, with new developments abound in the retractable awnings market. This is expected to auger well for the growth of the overall retractable awnings market during the period of forecast.
A recent research report by FactMR has revealed key growth prospects of the retractable awnings market along with opportunity analysis and projections with respect to demand and supply scenario of retractable awnings. According to the report, the retractable awning market is projected to expand at a robust CAGR of 6.7% with respect to value throughout the period of forecast, 2018-2028, during which the demand for retractable awnings is expected to reach its peak in terms of sales volume. Sales of retractable awnings are expected to remain concentrated in the emerging economies of Asia Pacific excluding Japan (APEJ) region across countries of China, Australia and India, consequently portraying a higher market attractiveness index of APEJ region during the period of forecast.
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On the other hand, home investment in Europe has played a major role in pushing growth of retractable awnings market across European countries. This can be attributed towards increasing GDP per capita that has given a push to the purchasing power parity of people in Europe. For instance, GDP per capita of Germany reflected an increase of US$ 2300 in 2017 over 2016, a 5.44 percent increase. Likewise, GDP per capita of France was US$ 38,205 in 2016 that increased to US$ 38,578 in 2017, which has translated into increased spending on home expenditure and retractable awnings are not an exception.
Global Retractable Awning Market: High Initial Price to Surface as a Key Growth Deterrent
Retractable awnings are relatively expensive than regular awnings, which makes it essential for the user to purchase retractable awnings from reputed companies and known brands in order to gain price satisfaction. However, high price of retractable awnings has been challenging the growth of the retractable awnings market, given the possibility of probable customer reluctance in purchasing the product. Moreover, replacement of electric sensors becomes essential during adverse weather conditions. The development of mildew and molds on awnings can deter their UV filtration quality as well as potentially damage sensors that could result in additional cost of repair. This factor is expected to challenge the adoption of retractable awnings consequently restraining the growth of the retractable awning market.
Table of Contents
Chapter 1 Executive Summary
Chapter 2 Global Retractable Awnings Market Overview
2.1 Introduction
2.2 Market Definition
2.3 Scope of the Report/Taxonomy
2.4 Opportunity Analysis in Retractable Awnings Market
2.5 Mega Trends in Retractable Awnings Market
Chapter 3 Market Dynamics
3.1 Key Growth Drivers
3.1.1 Growing Demand for Home Repair and Improvement
3.1.2 Awareness Against UV Protection
3.1.3 Considerable Reduction in Air Conditioning Costs
3.2 Key Trends
3.2.1 Advances in Fabric Material
3.2.2 Technological Innovations Leading to Premiumization
3.3 Industry Opportunity
3.3.1 Facilitating Business Promotion
3.4 Industry Challenges
3.4.1 High Prize and Frequent Maintenance
Continued……………………
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FactMR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized Sports market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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