Market Size of North America Awnings Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 5.00 % |
| Market Concentration | Medium |
Major Players.webp "North America Awnings Market Major Players")
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
North America Awnings Market Analysis
The outbreak of the COVID-19 pandemic has caused disruption in logistic and manufacturing activities in the region. This has led to an interrupted supply chain system in the market.
North America is one of the fastest-growing markets with respect to awnings consumption as well as production. The market is subject to witness substantial growth due to the shifting user preference toward outdoor deck and seating space construction units and soaring demand for retractable products in residential applications. Factors responsible for sustained market growth in the North America awnings market include the development of remote control assistance, integration of various sun and wind sensors, and products innovation. Regionally, the North America awnings industry is predicted to grow at a higher CAGR in the forecast period, providing numerous opportunities for market players to invest in research and development for the awnings industry.
The increase in the use of blinds and shades in windows is a key challenge for the awnings market growth. However, blinds and shades are considered feasible substitutes. This is expected to hamper the sales of awnings and impact the awnings market growth during the forecast period.
North America Awnings Industry Segmentation
Awnings means a cloth or plastic cover fastened to a building or structure and supported by a frame that is used to protect someone or something from the sun or rain. A complete background analysis of the North America Awinings Market, including market overview, market size estimation for key segments and emerging trends in the market segments, market dynamics and insights, along with competition, is covered in the report. The North America Awnings market is segmented by Product Type (Retractable Awnings, Stationary Awnings), by Application (Residential and Commercial) and by Country (The United States, Canada).
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North America Awnings Market Size Summary
The North America awnings market is experiencing rapid growth, driven by increasing consumer preference for outdoor living spaces and the rising demand for retractable products in residential applications. The market is characterized by advancements in technology, such as remote control assistance and the integration of sun and wind sensors, which are enhancing product offerings and driving innovation. Despite challenges posed by the growing use of blinds and shades as substitutes, the market is poised for substantial expansion, particularly in the United States, where the residential sector is witnessing a surge in awning installations. These installations not only enhance the aesthetic appeal of homes but also contribute to energy efficiency by reducing solar heat gain.
The United States holds a significant share of the market, with patio awnings leading the segment due to their popularity in both residential and commercial sectors. The hospitality industry’s demand for aesthetically appealing products further bolsters market growth. Additionally, the construction of luxury homes and the increasing use of awnings in gardens, restaurants, and car parking areas are contributing to the market's expansion. The competitive landscape is marked by mergers and acquisitions, as companies strive to enhance their market presence and develop innovative products. Recent strategic moves, such as LCI Industries' acquisition of Girard Systems, highlight the ongoing efforts to strengthen market positions and cater to the growing demand across the region.
North America Awnings Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Value Chain/ Supply Chain Analysis
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1.5 Porter's Five Force Analysis
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1.5.1 Threat of New Entrants
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1.5.2 Bargaining Power of Buyers/Consumers
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1.5.3 Bargaining Power of Suppliers
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1.5.4 Threat of Substitute Products
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1.5.5 Intensity of Competitive Rivalry
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1.6 Technological Innovations in the Industry
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1.7 Impact of Covid 19 on the market
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2. MARKET SEGMENTATION
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2.1 By Product Type
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2.1.1 Retractable Awnings
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2.1.1.1 Patio Retractable Awnings
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2.1.1.2 Traditional Retractable Awnings
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2.1.1.3 Vertical Retractable Awnings
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2.1.2 Stationary Awnings
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2.1.2.1 Metal Stationary Awnings
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2.1.2.2 Traditional Stationary Awnings
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2.1.2.3 Patio Stationary Awnings
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2.1.2.4 Others
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2.2 By Application
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2.2.1 Residential
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2.2.2 Commercial
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2.3 By Country
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2.3.1 United States
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2.3.2 Canada
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North America Awnings Market Size FAQs
What is the current North America Awnings Market size?
The North America Awnings Market is projected to register a CAGR of less than 5% during the forecast period (2024-2029)
Who are the key players in North America Awnings Market?
SunSetter Products, Sunair Awnings, Awning Company of America, Inc., Carroll Awning Company and Eide Industries, Inc. are the major companies operating in the North America Awnings Market.
