Retractable Awnings Market Immense Growth with Key Drivers, Business Insights, Trends And Forecast To 2030
PORTLAND, OR, UNITES STATES, September 27, 2021 /EINPresswire.com/ — 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.
The major benefits of installing an awning at residences are sun protection and expansion of living pace. The advantages include reduced air conditioning costs during summer and protection of furniture drapery, and flooring.
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The major players profiled in the retractable awnings market include Advanced Design Awnings & Signs, Commercial Awnings Ltd, Eide Industries, Inc., Marygrove Awnings, MARKILUX GmbH + CO. KG, Mitjavila, NuImagePro & NuImage Awnings, Shades Awnings, Sunesta and Warema Renkhoff SE.
Key Market Segments:
By Product Type
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Region-wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Spain, and the rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and the rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
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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Source: EIN Presswire