Immense popularity of retractable awnings with their efficient UV filtration function is just the tip of the iceberg.
Apart from creating cooling effect and maintaining indoor temperature, retractable awnings also aid in considerable cost cutting with respect to indoor power consumption.
In addition, significant growth opportunities can be grabbed in the retractable awnings market with growing renovations and remodeling of houses and commercial spaces across the world.
Furthermore, the demand for retractable awnings is expected to increase with increasing number of eateries, cafes and quick service restaurants that employ retractable awnings, considering them as an additional means of brand image visibility apart from their regular functionality.
That said, the increasing residential and commercial sectors are prevailing as a boon for players involved in manufacturing of retractable awnings, with new developments abound in the retractable awnings market.
This is expected to auger well for the growth of the overall retractable awnings market during the period of forecast.
A recent research report by Fact.MR has revealed key growth prospects of the retractable awnings market along with opportunity analysis and projections with respect to demand and supply scenario of retractable awnings.
According to the report, the retractable awning market is projected to expand at a robust CAGR of 6.7% with respect to value throughout the period of forecast, 2018-2028, during which the demand for retractable awnings is expected to reach its peak in terms of sales volume.
Sales of retractable awnings are expected to remain concentrated in the emerging economies of Asia Pacific excluding Japan (APEJ) region across countries of China, Australia and India, consequently portraying a higher market attractiveness index of APEJ region during the period of forecast.
Retractable Awnings Market: Fabrics Recognized as a Better Material Choice From a Durability Standpoint
Fabric as a material for retractable awnings as gained widespread attention, given its enhanced UV filtering efficiency coupled with better durability.
Knowing this factor, companies involved in the manufacturing of retractable awnings are focusing on introducing retractable awnings with advanced material that reflect high durability and effectiveness.
Fabrics with no-fade qualities and self cleansing technology have been developed.
With increasing preference for texture and depth of the fabric, manufactures of retractable awnings have come up with a woven combination of standard sized yarn and slightly thick slub yarn in order to promote high fabric depth while maintaining stability and enhancing water resistance.
This is expected to push the demand for fabric as a superior material for retractable awnings during the period of forecast.
Furthermore, with the paradigm shift towards polyvinyl chloride based textile fabrics along with suitable surface treatments, their use in retractable awning has been observed, given the various benefits including water proofing and improved fire resistance.
Also, developments in coating technologies are being researched upon in order to improve durability and cleanability of the fabric along with enabling smart fabric functionality using which the user can regulate opacity of the retractable awning using smartphone technology.
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Global Retractable Awnings Market: Cut-Throat Competition Between North America and Europe
As global demand for retractable awnings continues to witness a significant upsurge, volume sales of retractable awnings remain competitive in developed regions of North America and Europe.
Albeit, Europe being a shade better in terms of sales of retractable awnings, the North America retractable awnings market is expected to spur at a relatively higher pace, given the increasing number of remodeling expenditure witnessed in the region, particularly in the United States.
According to the report of Joint Center for Housing Studies, the house owners in the United States are expected to spend an excess of US$ 330 billion on up gradation of homes and remodeling along with routine maintenance programs, that has presented potential opportunities for installation of retractable awnings, in turn pushing growth of retractable awnings market in the region.
On the other hand, home investment in Europe has played a major role in pushing growth of retractable awnings market across European countries.
This can be attributed towards increasing GDP per capita that has given a push to the purchasing power parity of people in Europe.
For instance, GDP per capita of Germany reflected an increase of US$ 2300 in 2017 over 2016, a 5.44 percent increase.
Likewise, GDP per capita of France was US$ 38,205 in 2016 that increased to US$ 38,578 in 2017, which has translated into increased spending on home expenditure and retractable awnings are not an exception.
Global Retractable Awning Market: High Initial Price to Surface as a Key Growth Deterrent
Retractable awnings are relatively expensive than regular awnings, which makes it essential for the user to purchase retractable awnings from reputed companies and known brands in order to gain price satisfaction.
However, high price of retractable awnings has been challenging the growth of the retractable awnings market, given the possibility of probable customer reluctance in purchasing the product.
Moreover, replacement of electric sensors becomes essential during adverse weather conditions.
The development of mildew and molds on awnings can deter their UV filtration quality as well as potentially damage sensors that could result in additional cost of repair.
This factor is expected to challenge the adoption of retractable awnings consequently restraining the growth of the retractable awning market.
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Retractable Awnings Market Scope Of The Report
The retractable awnings market is anticipated to witness emergence of several trends that are expected to shape the supply and demand picture of retractable awnings across countries worldwide.
A recent intelligence research report by Fact.MR puts forth some of the key trends that are expected to sketch the future of the retractable awnings market, thereby portraying significant growth opportunities in way of participants involved in the manufacturing of retractable awnings.
The retractable awnings market study provides lucid market intelligence on the key revenue growth, industry opportunities drivers, challenges as well as industry trends that will impact the growth trajectory of the retractable awnings market in the long run.
An overview of the retractable awnings – in light of the current global consumer goods industry scenario – reveals interesting facets related to the adoption of retractable awnings across key regional markets worldwide.
An assessment of some of the retractable awnings market indicators offers a thorough analysis derived from the retractable awnings value chain analysis, supply chain analysis, and the business performance of retractable awnings across various regional retractable awnings markets.
Moreover, vital insights on key companies engaged in the retractable awnings market adds to the credibility of this extensive research intelligence report.
Comprehensive Research on the Retractable Awnings Market Using Proven and Tested Analysis
This comprehensive research publication on the retractable awnings market is underpinned by a strong research methodology and several assessment factors.
The analysts at Fact.MR have leveraged key retractable awnings market indicators and have put forth all intricate aspects of the retractable awnings market to provide in-depth analysis on the performance of the market for retractable awnings during the assessment period.
In addition, an investment feasibility matrix provided in the report offers vital information to manufacturers of retractable awnings pertaining to key regional revenue pockets.
Porter’s Five Forces Analysis has been engaged to study the competitive forces influencing the revenue growth of the retractable awnings market.
Any market study would be incomplete without a detailed cost structure analysis and that said, the report on the retractable awnings market provides a complete analysis of retractable awnings cost structure across influencing regional markets.
The analysts have also carried out a detailed forecast of the retractable awnings market scenario and have categorized their forecasts on the basis of a positive scenario, a probable scenario, and a conservative scenario of retractable awnings manufacturing and sales during the period of review.
Price point analysis and assessment by region and by different types of retractable awnings along with details of the factors influencing pricing are also highlighted in the retractable awnings report to obtain sufficient clarity.
Complete outlook of the retractable awnings market covering current and projected market values, volume projections and analysis, assessment of the regional demand for retractable awnings and cost analysis has been extensively covered in a dedicated section of the retractable awnings market report.
The estimation of the regional and global markets for retractable awnings is captured in US$ Million with its volume data in terms of absolute units (number of retractable awnings sold) in the global market.
A year-on-year growth appraisal along with market attractiveness analysis quantifies the insights phrased in the research report.
Along with regional understanding, aforementioned matrices have also been tracked on the basis of length, application, material, end use and form.
Regional Retractable awnings Markets Studied in Depth
The report on the retractable awnings market encapsulates a detailed sectional analysis that represents forecasts for the various regional markets for retractable awnings.
These sections throw light on the regional macros that are expected to influence the growth in sales volume of retractable awnings.
Volume forecasts, price point assessment, market valuation and analysis, and price indices along with impact assessment of factors influencing retractable awnings market growth along with a country level data evaluation with respect to demand of retractable awnings have been tracked and presented in the retractable awnings market report.
Besides this, the Y-o-Y projections of growth for retractable awnings with respect to length, application, material, end use and form for all the regional markets for retractable awnings are included in the study.
Competitive Assessment of Key Companies Completes the Retractable Awnings Intelligence Package
Fact.MR report on the retractable awnings market features a section on the key companies currently operating in the market for retractable awnings across regions worldwide.
A dashboard view of the competition includes important information on the major players engaged in the manufacturing and distribution of retractable awnings across key regional and sub-regional markets.
Market share analysis of these top players presents the readers with useful insights associated with dominance of various companies in the retractable awnings market space.
Top company profiles are also covered in this section with information on retractable awnings manufacturing facilities along with a SWOT analysis.
An intensity mapping of key participants in the retractable awnings market provides useful information for retractable awnings market players to understand the current retractable awnings market trends as well as various forces determining the competition levels in the retractable awnings market.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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