Canopy Market Study, Competitive Strategies, Key Manufacturers,...

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Canopy Market Study, Competitive Strategies, Key Manufacturers, New Project Investment and Forecast 2032

2024-02-05 11:20:58 • vues

The global canopy market size is expected to reach USD 2.73 billion by 2032, according to a new study by Polaris Market Research. The report “Canopy Market Share, Size, Trends, Industry Analysis Report, By Material (PTFE, ETFE, PVC, Polyester Cloth, Others); By Application (Shade Canopy, Event or Large Canopy, Others); By End-use; By Region; And Segment Forecasts, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The demand for canopies is anticipated to increase due to the provision of expanded outdoor space for seating and recreational purposes resulting from the installation of canopies in nearby residential and non-residential buildings. This trend reflects the growing preference for utilizing outdoor areas for various activities, creating a need for structures like canopies to enhance the functionality and comfort of these spaces.

The growth of the market is expected to be complemented by the increasing penetration of canopies in both commercial and residential sectors. This trend is driven by the growing installation of canopies in residential areas and atop various commercial buildings, serving as protection from heat, wind, and precipitation. The popularity of PTFE canopies is noteworthy, as they offer superior weather resistance, thermal stability, and high durability, making them a preferred choice for various applications.

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Canopies are chosen not only for their functional benefits but also for the aesthetic appeal they bring to a space. The robust growth of the residential sector in North American economies, coupled with the increasing trend of enhancing living spaces through beautification using canopies, is expected to drive market growth. Additionally, the rising popularity of inside-outside living concepts and the diverse range of product designs tailored for residential buildings are likely to contribute to an increased demand for canopies in this region.

Key players in the industry distinguish themselves by offering an extensive array of products coupled with well-suited designs and innovative technologies, providing a competitive advantage. The competition among these players often revolves around the ability to provide customized designs that precisely match the requirements of end-users. Various materials such as PTFE, ETFE, PVC, glass, wood, and different metals can be utilized to craft products that seamlessly align with the specific installation needs of the designated area. This emphasis on customization and material versatility allows manufacturers to cater to a diverse range of customer preferences and project specifications.

Canopy Market Share, Size, Trends

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Canopy Market Report Highlights

The PTFE segment accounted for the largest share, as they are well suited for extreme weather and are easy to use
The non-residentail segment dominated the market, as there is a surge in demand for architectural aesthetics in the private spaces
Europe held the largest share on account of the surge in demand for urban spaces with recreation and adventure activities
APAC will grow at a rapid pace, primarily due to a rise in commercial outlets such as hotels, lodges, and restaurants
The global players include Eide Industries, SUNAIR AWNINGS, Shade Structures, Canopies UK, Lawrence Fabric, Impact Canopies USA, and KD KANOPY.

Polaris Market Research has segmented the canopy market report based on material, application, end use, and region:

Canopy, Material Outlook (Revenue - USD Billion, 2019 - 2032)