Retractable Awnings Market Trends and New Innovations Expected to Reach $13.8 Billion by 2030

The growth of the retractable awnings market is majorly driven by urbanization in emerging countries.

PORTLAND, OR, UNITES STATES, November 23, 2021 / -- The retractable awnings market was valued at $6.0 billion in 2020, and is expected to reach $13.8 billion by 2030, registering a CAGR of 8.2% from 2021 to 2030. Retractable awnings have the ability to retract. It is the best solution to create a shade. Retractable awnings give protection from sunlight and rain. These awnings are easy to install and maintain.

Retractable awnings extend the outdoor space area and reduce the cooling system cost. It also enhances the beauty of the outdoor space. It is an awning attached to a frame, which allows it to be extended out or folded or rolled back tightly against the building facade. These retractable awnings can be retracted manually or automatically using a motor. The motorized awnings are also equipped with sensors and remote to carry out the retracting process by using a remote.

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Leading Players:

Leading players of the global retractable awnings market analyzed in the research include Commercial Awnings Ltd, NuImagePro & NuImage Awnings, Eide Industries, Inc., MARKILUX GmbH + CO. KG, Marygrove Awnings, Mitjavila, Shades Awnings, Sunesta, Advanced Design Awnings & Signs, and Warema Renkhoff SE.

COVID-19 impact scenario:
• Due to the COVID-19 pandemic, manufacturing, construction, hotel, and tourism markets were majorly affected.
• Manufacturing activities in the retractable awnings market were paused or shut completely due to a lack of workforce, resources, and raw material.
• Supply chains were affected on a global level due to lockdowns and travel restrictions.
• The market is however resuming its manufacturing and services during the post-lockdown. This is expected to fuel market growth in the coming future.

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The report segments the global retractable awnings market on the basis of retracting type, product type, application, and region.
Key Market Segments

• By Product Type
o Patio
o Window
o Freestanding
o Others

o Manual
o Motorized

o Residential
o Non-residential

Key Findings Of The Study
• By product type, the patio segment was the highest revenue contributor in 2020.
• On the basis of retracting type, the manual segment was the highest revenue contributor in 2020.
• By application, the non-residential segment dominated the market in 2020.
• North America generated the highest revenue in 2020.

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David Correa
Allied Analytics LLP
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