The scope of the global Canopy Market was projected at US$ 1.6 billion in 2018. The scope is likely to reach US$ 2.1 billion by 2025. It would develop at a CAGR of 4.0% during the period of forecast.
Market Overview:
The canopies exist in various
types such as portable garage canopies, large or event canopies, garden
canopies, and shade canopies. Additionally, a canopy is able to be designed and
factory-made by means of diverse materials comprising a variety of wood,
metals, glass, and fabrics. The uses of the product differ dependent on the
purposes of the end-use and the materials utilized for it.
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Key Players:
Sun air Awnings
Advanced Design Awnings &
Signs
Shade Structures, Inc.
Eide Industries, Inc
Growth Drivers:
The manufacturing companies
compete in the market by means of presenting the maximum appropriate and
dependable products, thereby giving way to a number of end-user applications.
In addition, they are involved in applying progressive technologies to develop
inventive products, proposing extra benefits for example harvesting of
rainwater and completing the demand for the canopies.
Drivers:
Growing infiltration of canopies
in a number of non-residential and residential buildings is expected to
motivate the demand for canopy and, sequentially, activate the general
development of the canopy market during the period of forecast.
Speedy development of the housing
segment in the European and North American financial prudence and growing
admiration of inside-outside living are expected to increase the demand for
canopies in the states during the period of forecast. Additionally, increasing
inclination for extended living space and redecoration presented by canopies is
expected to boost up development of the market.
Material Outlook (Revenue, USD Million, 2014 - 2025)
• PTFE
• ETFE
• PVC
• Polyester Cloth
• Others
Regional Lookout:
By Region the global canopy
industry can be classified as North America, Europe, Asia Pacific, Central
& South America, and Middle East & Africa. The North American region
was responsible for nearby 28.1% share of the general market by means of income,
in 2018, because of augmented infiltration of canopies in the housing division.
The product is mostly utilized in domestic structures in the backyard and by
way of a standalone construction for courtyard equipment and extra space.
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