Awning Market to Reach $11.04 Bn, Globally, by 2025 at 6.2% CAGR, Says Allied Market Research - Seite 2

Commercial industry segment to dominate in terms of revenue & growth rate  

Commercial industry contributed nearly two-thirds of the total market share in 2017 and is expected to grow at a CAGR 6.3% from 2018 to 2025. This segment is lucrative due to the heavy inflow of investments for the development of commercial spaces including shops, sports arena, restaurants, hotels, and theaters. The residential industry segment would grow at a moderate rate during the forecast period.

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North America to continue being the highest revenue contributor through 2025 

North America contributed more than one-third of the total market share in 2017 and is expected to maintain its lion's share through 2025. This is due to the high demand for improved infrastructure and introduction of retractable awnings for enhanced appearance of outdoor spaces. However, Asia-Pacific region would register the fastest CAGR of 7.3% from 2018 to 2025, owing to the availability of quality fabric, large variety of awning patterns, and high demand for attractive awnings in the commercial sector to decorate outer spaces.

Frontrunners of the industry  

The major market players analyzed in the study include Advanced Design Awning & Sign, Carroll Awning, Awning Company of America, KE Durasol, Eide Industries, NuImage Awnings, Marygrove Awning, Sunesta, Sunair Awnings, and Sunsetter Products. Various strategies such as joint ventures, expansions, collaborations, mergers & acquisitions, partnerships, and others have been adopted by market players to gain a stronghold in the industry.

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