Grand View Research has released a report that shows that the increased demand and sales of the product due to the growing affinity of. customers for activities such as , is expected to drive market growth between 2019-2025.
The. awnings market expected size to be around USD 1.7 Billion by 2025, according to a report from Grand View Research, Inc. at a 4.2% CAGR during the forecast period. Increased versatility and the many benefits they provide, including protection against the weather, can lead to an increase in product demand.
In recent years, the market has seen a significant shift in favor of electric awnings. These products are anticipated to be in high demand due to their superior properties, including decreased retract and technology and functionality of awnings are important factors in buyers’ purchasing decisions.times and the ability to mount advanced components like LED lights, speakers, fans, and other electronic devices. The
Sunbrella and Herculite are involved with the production of awning fabrics, including vinyl, acrylic, or polyester vinyl composite materials. The raw material can provide high-quality fabric material that can be customized to meet customer requirements.
Vinyl or acrylic are the most common fabrics forawnings. The country has seen significant investment in R&D to create advanced fabrics for awnings. The awning’s operational life is extended with advanced fabrics.
The. Awnings Market report highlights state that technology innovations related to retracting and expanding awnings will drive the market for these products. Over the forecast period, product demand will rise due to the introduction of advanced features like speakers, LED lights and automatic retract systems.
Electric awnings are also expected to be in high demand at a CAGR of 6.2%, volume will increase from 2018 to 2025. This is due to the product’s ease of use and greater functionality. While segment manual awnings saw revenue of USD 128.4 Million in 2017, high demand was seen for low-end.
The highlights also show that the patents that protect product design and implementation mechanisms are used by key players to limit the risk of new entrants while maintaining an inflow of revenue.
About Grand View Research
Grand View Research is a market research and consulting company registered in the State of California having its headquarters in San Francisco. The company offers syndicated research reports, customized research reports, and consulting services. With Grand View Research, you get an opportunity to understand market trends, insights, and business statistics from a strategic standpoint. With a deep-seated understanding of many business environments, Grand View Research offers business and market intelligence studies and accomplishes more than 300 multi-country market studies.