Canopy Market
The Canopy Market is growing at a substantial rate over the forecast period (2020-2027). According to the GMI Research forecast, the market is growing at a faster rate due to the rising penetration of canopies in numerous residential and non-residential buildings and the rising installation of canopies in several residential and commercial buildings.
A canopy is an overhead roof or a structure over which a fabric or metal covering is attached that provides shade or shelter from different weather conditions such as rain, snow, hail, and sun. It provides several solutions for problems, including protecting an area, keeping the area dry and safe, and widening the working, or living space in a building. Moreover, a canopy is generally used for various purposes depending upon demand from consumers.
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The major factors responsible for the growth of the global canopy market include the growing penetration of canopies in numerous residential and non-residential activities, along with provision for expanded outdoor space for seating and recreational purposes. Growing installation of canopies in several residential and commercial buildings to protect from wind, heat, and precipitation will surge the canopy market growth. In addition to this, the rapid growth of the residential sector in developed countries, along with the rising trend of beautification of expanded living spaces provided by the canopies, which will further improve the growth of the canopy market worldwide during the forecast period. Moreover, manufacturers emphasize various programs to fuel awareness associated with the advantages of using canopies in both residential and non-residential buildings that will lead to an upsurge in demand for canopy globally.
Based on the region, the North America region is projected to grow at a higher rate over the forecast period due to the growing penetration of canopies in the residential sector and the rising popularity of inside-outside living in this region. Moreover, the availability of a different range of canopy designs will support the growth of the canopy market in this region. Shade canopy segment is growing at a higher rate in the North America region in 2018. Asia-Pacific region is anticipated to dominate the market during the forecast period due to growing demand for the event or large canopies in non-residential buildings in this region. In addition to this, the growing adoption of canopies and increasing demand in the commercial outlets for this product in economies, including China and India, will propel the growth of the canopy market in the Asia-Pacific region.
Key Players of the Global Canopy Market:
• Eide Industries, Inc.
• Shade Structures, Inc.
• Lawrence Fabric & Metal Structures Inc.
• KD Kanopy, Inc.
• Advanced Design Awnings & Signs
• Sunair Awnings
• Vitabri Canopies UK Ltd
• Impact Canopy
• JAY JAY Enterprise
Market Segmentation:
Canopy Market Report Segment by Material:
• Polytetrafluoroethylene (PTFE)
• Ethylene Tetrafluoroethylene (ETFE)
• Polyvinyl Chloride (PVC)
• Polyester Cloth
• Others
Canopy Market Report Segment by Application:
• Shade Canopy
• Event or Large Canopy
• Others
Canopy Market Report Segment by End-Use:
• Residential
• Non-Residential
Canopy Market Report Segment by Region:
• North America
o United States of America
o Canada
• Asia Pacific
o China
o Japan
o India
o Rest of APAC
• Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
• RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a full-service market research and business-consulting organization that offers global as well as medium and small businesses with bespoke industry and market analysis to help them in making the toughest business decision. We have a team of industry experts that provides unbiased insights on reports to best meet the specific needs of our clients. GMI Research’s analysts rely on secondary research to lay down the foundation of every report. We use not only the internal but also the external databases to cull out relevant information of the industry. Our main aim is to keep our clients abridged of the emerging opportunities and challenges in a wide range of industries. We provide step-by-step assistance to our client, through strategic and consulting services to reach a managerial and actionable decision. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to helping businesses stay ahead of the curve.
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