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.
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.
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 rainwater and completing the demand for the canopies.
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.
The 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, the increasing inclination for extended living space and redecoration presented by canopies is expected to boost up the development of the market.
The canopy industry in the U.S.A is likely to observe progress due to the growing acceptance of canopies by way of shades in residential structures. Additionally, growing fitting of car canopies for shade protection at leisure time and storing of the cars in the open-air to make the best use of housing storage capacity is expected to boost the demand for the product in the nation-state during the period of forecast. The canopies are majorly utilized in commercial structures in the market of Asia Pacific.
The global canopy market can be classified by End-Use, Application, Material, and Region. By End Use, it can be classified as Non-residential, Residential. By Application it can be classified as Large or Event Canopy, Shade Canopy, and others. By Material, it can be classified as PVC (Polyvinyl Chloride), PTFE (Polytetrafluoroethylene), Polyester Cloth, ETFE (Ethylene Tetrafluoroethylene), and others.
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.
The market is expected to observe growing demand because of the reasons for example extended living space and redecoration of buildings presented by the product. Additionally, growing admiration of inside-outside living and the obtainability of an extensive variety of canopy designs are expected to increase the demand for the product in North America.
The canopies serve numerous purposes. For example, the shade canopies constitute a substantial share of North American residences. However, in the market of Asia Pacific, the demand for large or event canopies is greater in nonresidential buildings. The nations, for example, Australia and China, in the Asia Pacific, are responsible for a mainstream share of the market due to the increasing infiltration of the product in commercial openings for example hotels and restaurants. Increasing acceptance of canopies in this financial prudence can be credited to the provision for stretched out-of-doors space for a number of actions like exhibitions and event campaigns.
Some of the important companies for the canopy market are Sun air Awnings, Advanced Design Awnings & Signs, Shade Structures, Inc., and Eide Industries, Inc. Additional notable companies are JAY Enterprise, Impact Canopy, Lawrence Fabric, and Metal Structures, KD Kanopy, and Canopies UK.
Material Outlook (Revenue, USD Million, 2014 - 2025)
• Polyester Cloth
Application Outlook (Revenue, USD Million, 2014 - 2025)
• Shade Canopy
• Event or Large Canopy
End-Use Outlook (Revenue, USD Million, 2014 - 2025)
Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• the Asia Pacific
• South Korea
• Central & South America
• Middle East & Africa
• South Africa
Research Support Specialist, USA