Global Canopy Market Size, Share, Trends, and Forecast Report 2030
The value of the global canopy market was approximately USD 1832 million in 2022, and it is projected to increase to approximately USD 2610 million by 2030, at a compound annual growth rate (CAGR) of approximately 4.52% between 2023 and 2030.
Canopy Market: Overview
Shelter, shade, and protection are all provided by a structure called a canopy, which is a protruding roof-life structure. Canopies are installed. It is a component of architecture that has a tendency to extend beyond the traditional structure and is often supported by columns, beams, or other elements. Its primary function is to add visual interest to the building. Canopies built in the modern period are intended to improve not only the functionality of the area in which they are installed but also the aesthetic quality of the space as a whole. For example, one popular kind of canopy that is utilized rather commonly is the entry canopy, which is widely utilized to cover the entrances of buildings. Additionally, they shield individuals entering or leaving the building from the sun and rain as well as other elements of the environment. They can be discovered in a variety of building environments, including residential and commercial buildings. Depending on the application that the product is designed for, canopies can be crafted from a variety of materials. They are also offered in a wide variety of configurations, including shapes, sizes, and patterns, which enables product differentiation.
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Canopy Market: Growth Drivers
The increasing popularity of eating in outdoor settings is the primary driver of market expansion.
The global market for canopies is expected to expand as a result of the rising popularity of having meals outside and the accompanying rise in demand. This indicates that modern consumers who go out for dining purposes prefer outdoor seating arrangements, particularly for activities involving brunch or high tea. These kinds of business facilities are most frequently seen in nations where the average annual temperature is below freezing and where the majority of residents want to eat their meals outside rather than indoors so they may take in the scenery or bask in the sun. Furthermore, income trends have indicated that restaurants and cafes that implement such arrangements may not be required to spend a significant amount of money on advertising or promotion, and the resources that are saved can be used to update the seating ambiance in order to attract more customers. Canopies also offer a high value-to-cost ratio due to the fact that they can be utilized throughout the entire year for a variety of functions in the same location, which results in improved functional qualities.
Canopy Market: Segmentation
The global market for canopies may be broken down into distinct submarkets defined by factors such as end-user, application, material, and geographic location.
Non-residential and residential applications make up the two primary sub-segments of the global market, respectively. In 2022, the commercial and industrial sector was the one that showed the greatest increase in growth. End-users in this market category include a wide variety of establishments, some of which are commercial buildings, educational institutions, transit hubs, and healthcare facilities. In spite of the fact that these units typically produce roofs made of concrete, a significant number of players make use of the canopy in order to broaden the scope of their operations. In commercial structures like offices, retail stores, and shopping malls as well as hospitality establishments, canopies are a very common sight. Canopies are often used at educational institutions to provide students and staff with shaded areas, as well as to cover walkways and outdoor meeting spots. The residential market is segmented into freestanding homes as well as apartment and condominium complexes. The dimensions 4 by 4 by 7 feet and 6 by 6 by 7 feet are the canopies that are utilized the most frequently.
Canopy Market: Regional Analysis
North America to register the highest growth
The global canopy market is expected to witness the highest growth in North America led by the growing use of several types of canopy across commercial and residential units. The regional population of the US and Canada enjoy eating in outdoor settings which has resulted in a growing number of cafes and restaurants offering outdoor seating arrangements for their customers. Additionally, canopies are used extensively in supermarkets and other retail outlets as a means to promote new products or an inquiry counter.
Canopy Market: Competitive Analysis
The global canopy market is led by players like:
Shade Structures Inc.
FabriTec Structures
Canopy Mart
Tensile Structure Systems
ShadeFX
BDiR Inc.
Creative Shade Solutions
Shade Systems
Skyco Shading Systems
Architectural Shade Products
USA SHADE & Fabric Structures
MASA Architectural Canopies
Carroll Architectural Shade
Advanced Awnings and Signs
Samson Awnings
Renson
Sunesta
KE Outdoor Design
Somfy Systems
Vergola
Eurmax
Sunair Awnings & Solar Screens
Astralux
Uni-Systems
Outsunny.
The global canopy market is segmented as follows:
By End-User
Non-Residential
Residential
By Application
Event or Large Canopy
Shade Canopy
By Material
Polytetrafluoroethylene (PTFE)
Polyvinyl Chloride (PVC)
Ethylene Tetrafluoroethylene (ETFE)
Polyester Cloth
By Region
North America
The U.S.
Canada
Europe
France
The UK
Spain
Germany
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
GCC
South Africa
Rest of Middle East & Africa
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