Awning Market to Reach USD 14.67 Billion by 2030, Growing at a CAGR of 6.62% from 2024 to 2030

Technological Developments Hand-in-Hand Market Ripe for Growth

Detailed Report Market Size, Market Trends, U.S. Developments, Key Segments, Competitive Landscape & Global Regional Insights

The global awning market has been witnessing significant growth and its future seems bright owing to rising consumer preferences for outdoor living spaces, energy-saving products, and technological advancements. As per estimates, the market was worth around USD 9.37 billion in 2023 and is anticipated to reach USD 14.67 billion by 2030, recording a CAGR of 6.62% from 2023 to 2030.

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Market Outlook : Factors Driving Growth and Opportunities

The awning market is expanding due to several drivers:

AWNINGS: The Ultimate Solutions to Energy Efficiency and Sustainability. Awnings are one of the best ways to make sure indoor temperature does not increase due to direct sunlight and possibly lower the use of air conditioner which is an energy saver. This caters to the consumers who are increasingly becoming aware and asking for practices that align themselves with the principles of sustainability.

Technology development: development of automation and intelligent technology into awning systems give customers more comfort and attractiveness of the awning systems. Tech-savvy consumers demand motorized controls, weather sensors, and remote operation which in turn fuel market growth.

Outdoor Living: Consumers continue to invest in outdoor living spaces-like patios and decks-to enhance lifestyle and entertainment activities. These make these spaces more usable and comfortable because of the shade and protection that awnings provide and that is the factor driving the demand for these.

These and other drivers offer manufacturers a wealth of opportunities to innovate for changing consumer preferences in areas such as energy efficiency and smart home integration.

Trends & Investments In The U.S Market

AWNING SECTOR IN THE U.S. - 2024 TRENDS AND INVESTMENTS IN THIS SECTOR

Residential Renovations: Homeowners continue to embrace awnings through home renovation projects targeting energy efficiency and outdoor improvements. This trend can be attributed to the increased focus on sustainable lifestyle and affordable energy solutions.

Commercial Uses: Businesses, especially those in hospitality, are using awnings to achieve more functional outdoor space, offering canopied areas for customers in return, improving service delivery. Such things have boosted the investments of stakeholders towards customized and branded awning solutions.

Technology Integration: Midrange motorized and retractable awnings with smart controls have gained traction in the U.S. market, as the trend toward home automation and IoT continues.

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Overview of Market Segmentation and Key Segments

The awning market is segmented in terms of type, product, and end-user.

By Type:

Stationary Awnings: These are permanent structures that provide constant protection.

2) Retractable Awnings - They bring an easy installation to your home because you can extend them when you want and retract them when you dont.

Based on type, retractable awnings accounted for the largest share of the market, owing to their versatility and ease of operation, and increasing consumer preference toward adjustable shading solutions.

By Product:

Patio awnings: Designed to cover outdoor patio spaces.

Window awnings: Fixed over windows to block the sunlight directly.

Detached Awnings: No longer affixed to any building.

Patio awnings account for a significant portion of the product segment due to the growing trend of outdoor living spaces in homes.

By End-User:

H1:ResidentialH2:Homeowners looking to improve on outdoor living space.

Commercial: Restaurants and retail stores using awnings to keep customers comfortable while promoting their brand

The biggest portion of the market share for this division belongs to residentials, signifying the increasing consumer attention towards home improvement and outdoor appearance.

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Competitive Analysis

Global awning market can be divided into two major sections, they are Regional and Application. Below are the company profiles of few key players;

SunSetter Products: The largest U.S. manufacturer of retractable awnings. In response to the growing desire for motorization in the market, the company recently expanded its product line to include motorized options that are compatible with smart home technology.

Advanced Design Awning & Signs: This company specialized in custom awning solutions yet stayed ahead of the design trend by minimizing the material used while maximizing the design.

KE Durasol Awnings: A leading manufacturer with a range of residential and commercial awning options. The company now plans to offer a new generation of retractable awnings with improved durability and a high resistance towards weather, in a move that hopes to further expand ownership of this sector.

Eide Industries, Inc.: With a focus on innovation, Eide Industries developed modular awning systems making customization and installation simple and quick for home and business owners alike.

Sunair Awnings: The company has concentrated efforts to expand its distribution and product availability. In recent launches, efforts have involved replicas as retailers have joined home improvement stores to reach a wider customer base.

These the companies are improvising their product, collaborating strategically and integrating technology to bolster its market position and domestic consumer trend.

Regional Analysis

Each regional awning market exhibits unique demand trends, reflecting the influence of local consumer behavior, economic factors, and technology integrations. Taking a closer look at the market landscape across key regions:

United States:

AWNING MARKET - GROWTH US is one of the biggest market for awnings,expected to reach an approximated market size of USD 3.64bn in 2025 growing to USD 4.88bn by 2033 at a CAGR of 3.4%

Main Propeller: The growing trend for outdoor living areas and energy-efficient options in the residential and commercial sectors is expected to drive the demand for awnings in the U.S.

Government Initiatives - The market is driven by the U.S. government focusing on sustainability and energy efficiency in residential homes as awnings provide energy cost savings by preventing direct sunlight and reducing air conditioning.

Technological adoption: The surge in smart homes and automation, the demand for smart, motorized and even retractable awning systems is increasing rapidly, where the user can control through remote or phone as well as tap into a home automation system.

United Kingdom:

Market Demand: Consumers in the UK increasingly favour retractable and motorised awnings, particularly in urban settings, where space is always a concern.

Scope of the Report Drivers Increasing consumer interest in improving outdoor living spaces for recreational, dining, and entertainment purposes drive the demand for Outdoor furniture in the UK.

Government Policies: The urgency of the matter has inspired the UK to enforce policies that promote green building, increasing demand of sustainable alternatives such as energy-efficient innovations. Awnings are one way to save energy costs as they provide covering and minimize the accumulation of heat inside the space.

Germany:

Market Dynamics: The growth paired with stability of construction and DIY sectors in Germany create continuous demand for awnings. German consumers are placing more and more value on energy-efficient homes and sustainable building practices, which is why the awnings that you find on the roofs of German homes today are often solar-powered and automated.

Demand of energy-saving outdoor shading solutions supported by the burgeoning popularity of green building certifications and eco-friendly living is a base drive factor.

Way Forward due to [Energy-Efficiency]: The strict environmental regulations imposed by the government in Germany are aiding in the adoption of the energy efficient products which in turn boost up the awning market owing to which these products helps in reducing energy consumption in the house.

France:

Market Trend: Customization in awnings are gaining momentum in France, especially for outdoor applications, such as patios, gardens, and balcony.[200+ Pages] Updated Research Report by FMI2020 Updated Research Report by FMI

Primary Aspects: Lifestyle and aesthetic preferences have a significant impact on the French market, with the rise in popularity of outdoor living also a key market driver.

Sustainability Trends: Similar to other markets in Europe, there is a growing demand for sustainable and eco-friendly products (awnings can lower heating and cooling costs in homes and businesses).

China:

Market Growth: The enormous and ever-expanding urban populace as well as the burgeoning middle class in China have created demand for outdoor living spaces, as well as for energy efficient solutions for residential and commercial properties.

Market Dynamics: Drivers, Restraints, and Opportunities The increasing requirement for sustainable structures and Smart Home technologies in China is expected to spur the awnings market growth. Due to the increasing utility and aesthetics of these areas, the retractable and motorized awning market is witnessing significant growth.

Regulation Of Government: The trend to sustainable urbanization in China and the growing emphasis on green construction will probably continue to boost the adoption of energy-efficient merchandise like awnings.

Conclusion

Trends supporting growth in the global awning market include the demand for outdoor living spaces, energy efficiency and technological integration. Market growth is propelled by increasing adoption of motorized and foldable awnings, green building trends, and smart home technologies.

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