Global freestanding retractable awnings market will witness a massive growth during the forecast period. The motorized segment will be the most profitable. Offline segment will be the most lucrative. North America will dominate the market.
Research Dive has recently published a report with the title “Freestanding Retractable Awnings Market by Technology (Manual, Motorized, Sensor, and Remote Control), Sales Channel (Offline, and Online), Application (Commercial and Residential), Regional Analysis (North America, Europe, Asia-Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2020–2027”
The global freestanding retractable awnings market is anticipated to garner a huge revenue during the forecast period, according to the report published by Research Dive.
Regional Outlook
North America region is expected to garner the highest revenue during the forecast period. The major attributor of this growth is the presence of major manufacturers. These companies has made the customization and personalization process easier in the region compared to other parts of the world.
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Highlights of the Report
The report has bifurcated the market based on technology, sales channel, application, and regional analysis.
• In technology segment, the motorized segment is going to be the most beneficial. Automation and low maintenance costs are the two major factors behind this growth. They are cost-efficient, quick to install, user-friendly and low maintenance. This is another factor fueling the growth of the industry.
• In sales channel segment, the offline segment will be the most profitable. Customers prefer to visit showrooms or outlets to physically check the products regarding their design, material, color, shape, and other features before making the purchase than to shop online. This is the factor enhancing the growth of the market.
• In application segment, the residential segment is going to be the most profitable. The main reason behind this growth is the popularity of outdoor sittings, gardens, patios, and decks in urban households.
Market Dynamics
People love to decorate or renovate their living and working place. A trend to renovate and splurge money on home décor has been surging among the urban population since last few years. Freestanding retractable awnings are used extensively as it helps in uplifting the look of an external sitting place. Retractable awnings provide a cool usage of the outer space, flexibility, quick installation facility. Moreover, it’s a trendy way of providing shade, and it’s cost-efficient.
The retractable awnings require high maintenance costs which is going to act as the main barrier behind the growth of the industry.
The growing real estate sector and distribution channels, as well as adverse weather conditions are expected to create many opportunities for the market during the upcoming years.
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Key Players and Business Strategies
As per the report, the leading players of the global freestanding retractable awnings market include -
- Thompson Awning
- Boulevard Awning Company
- French Awning & Screen Company
- Awning Company of America
- Carroll Architectural Shade
- Awnings & Canopies
- ADVANCED DESIGN AWNINGS & SIGNS
- Roché Systems Ltd
- Advanced Awning Company
- Eide Industries, Inc.
The report also reviews many other important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
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