Report ID: UCMIG20C2027
Retractable Awnings Market Size, Share, Growth Analysis, By Product Outlook (Revenue, USD Million, 2015 - 2025)(Freestanding, Patio, Others), By Application Outlook (Revenue, USD Million, 2015 - 2025)(Residential, Commercial), By Regional(North America, Asia Pacific, Latin America) - Industry Forecast 2024-2031
Report ID:
UCMIG20C2027 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
Retractable Awnings Market Insights
Market Overview:
The retractable awnings market was valued at USD 3.01 billion in 2018 and is predicted to have a compound annual growth rate (CAGR) of 7.4% during the forecast period. The growth is primarily driven by the increasing preference of consumers for outdoor seating spaces, such as decks and patios. According to the International Casual Furnishings Association (ICFA), about 86% of households in the U.S. have outdoor living spaces. Furthermore, the rising expenditure on patio décor is expected to further increase the demand for retractable awnings. In 2017, around 66% of U.S. households purchased furniture or accessories for outdoor spaces, according to the ICFA study.
Retractable Awnings Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Construction & Engineering by segment aggregation, the contribution of the Construction & Engineering in Capital Goods and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
Retractable Awnings Market Report Snapshots
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