Canopy Market
Report ID: SQMIG15F2100
Canopy Market Size, Share, Growth Analysis, By Material(PVC (Polyvinyl Chloride), PTFE (Polytetrafluoroethylene), Polyester Cloth, ETFE (Ethylene Tetrafluoroethylene)), By Application(Shade Canopies, Event Canopies), By End Use(Residential, Non-Residential), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15F2100 |
Region:
Global |
Published Date: April, 2024
Pages:
157
|Tables:
90
|Figures:
76
Canopy Market Insights
Canopy Market size was valued at USD 1.83 billion in 2019 and is poised to grow from USD 1.91 billion in 2023 to USD 2.84 billion by 2031, growing at a CAGR of 4.5% in the forecast period (2024-2031).
Increasing canopy penetration in a variety of residential and non-residential structures would fuel canopy demand. There are various types of canopies, including portable garage canopies, event or large canopies, garden canopies, and shade canopies. Additionally, a canopy can be created and built utilising a variety of materials, such as a variety of fabrics, metals, glass, and wood. The product's uses vary depending on the intended end uses and the materials employed. The global canopy market is anticipated to see a steady compound annual growth rate due to the use of canopies in both residential and non-residential buildings. Living indoors as if outside is becoming more and more common, which contributes to penetration. This market is expanding as a result of a growing trend where open space is expanded using canopies. Canopies are utilised in some structures to beautify the area and advance the market. So it should be highlighted that the global canopy market is expanding dramatically as the construction industry makes great gains. The main justification for them is that they serve as both weather protection and, as was already mentioned, an attractive addition. Tourism also plays a role in the growth story of this market. As more people throng hotels, beaches, cafes and outdoor structures, more canopies would be in demand.
US Canopy Market is poised to grow at a sustainable CAGR for the next forecast year.
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Canopy Market Segmental Analysis
Canopy Market is segmented into material, application, and region. By material, Canopy Market can be classified as PVC (Polyvinyl Chloride), PTFE (Polytetrafluoroethylene), Polyester Cloth, ETFE (Ethylene Tetrafluoroethylene), and others. By application, Canopy Market can be classified as large or event canopy, shade canopy, and others. By end use, the Canopy Market is segmented into residential and non-residential. By region, the Canopy Market is segmented into North America, Asia Pacific, Europe, and MEA.
Canopy Market Analysis by Material
Polytetrafluoroethylene (PTFE) segment dominated the global market. Due to its great strength and longevity, canopies with PTFE fibreglass membranes are appropriate for areas with extreme temperature conditions. Additionally, low-surface free energy exhibited by the material offers simple surface cleaning by rainwater. These properties have increased the market worldwide, in regions with extreme climatic conditions. Canopies made of ETFE have self-cleaning qualities because of their non-sticky surface. Due to the material's capacity to stretch, the size of the canopy might vary. Due to qualities like water resistance and durability, polyester is one of the materials that is most frequently utilised in immediate canopy designs. Furthermore, due to the architectural aesthetics provided by the product, PVC and metal canopy designs are used in a variety of residential and non-residential applications.
Canopy Market Analysis by Application
Shade canopies are frequently used for protection and to improve the aesthetic value in both residential and commercial applications. Due to its simplicity of construction and offer for additional outside area, event or large canopy designs are frequently employed for commercial applications. For many different business events, including product launches and exhibits, these canopies are employed extensively.
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Canopy Market Regional Insights
North America dominates the global canopy market due to rising residential demand. The product is mostly used in backyards of residential buildings as a stand-alone structure for patio furniture and extra space. The market is expected to grow as a result of factors such as increased living space and building beautification provided by the product. Furthermore, the growing popularity of indoor-outdoor living and the availability of a diverse range of canopy designs are expected to boost demand for the product in North America. Rapid expansion and capacity addition by various recreational activities and increased use in the residential sector, coupled with the growing number of commercial buildings in the U.S., will boost demand.
The Asia Pacific is expected to see high gains as a result of the increasing use of the product in the non-residential sector. The market has grown because of the growing use in commercial launches and events. Emerging economies have focused on the penetration of the product in restaurants and hotels. Indonesia, Vietnam, Singapore, China, South Korea, Thailand, and India are essential aspects likely to drive market development confidently.
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Canopy Market Dynamics
Canopy Market Driver
- Over the projection period, the demand for canopies in the North American and European economies is anticipated to increase because of the rapid rise of the residential sector in these economies and the rising popularity of inside-outside living. Additionally, the market is projected to develop because to the growing desire for canopies' added living space and aesthetic value.
- Due to the growing use of canopies as shades in residential structures, the U.S. global canopy market is predicted to expand. Additionally, it is projected that throughout the forecast period, there will be an increase in the installation of car canopies for recreational shade protection and outdoor car storage to maximise housing storage capacity.
Canopy Market Restraint
- Coronavirus has affected the import and export of construction of material. China is the largest exporter of construction materials globally. Negative trends in the economy of China are anticipated to reduce the global import and export throughout the globe. Travel prohibitions around the globe have affected the trade of construction materials. Thus, the supply and demand for construction materials are almost halted throughout the globe. Construction material import and export have been impacted by the coronavirus. The world's top exporter of building supplies is China.
- Global import and export are expected to decline as a result of China's economy's negative tendencies. International travel restrictions have an impact on the commerce in building materials. As a result, the global supply and demand for building materials have nearly completely stopped. Over the course of the current economic year, decreased consumer demand and consumption have caused a decrease and slowdown in the sales of construction materials worldwide.
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Canopy Market Competitive Landscape
The canopy market exhibits both large- and small-scale manufacturers globally, which leads to a moderate level of concentration. Due to the high demand for dependable and cutting-edge products, there is fierce canopy market competition. Most manufacturers work hard to produce long-lasting items by utilising cutting-edge technologies and the best designs. Market leaders compete on the basis of product innovation by utilising a variety of materials and designs. Some of the major firms active in the creation and distribution of canopying solutions for various end-user sectors include Eide Industries, Inc., Advanced Design Awnings & Signs, Shade Structures, Inc., and Sunair Awnings.
Top Players in the Canopy Market
- Shade Structures, Inc.
- Rainier Industries Ltd.
- ShadeFX Canopies
- The Awning Company
- B & C Awnings Inc.
- KE Durasol Awnings, Inc.
- Carroll Awning Co. Inc.
- Ace Awnings Inc.
- Sunair Awnings & Solar Screens
- Advanced Awning Company
- Canopies UK
- Aristocrat Shade Products, Inc.
- Capitol Awning Company
- NuImage Awnings
- Durasol Awnings, Inc.
- Marygrove Awnings
- Eide Industries, Inc.
- SunSetter Products LP
- Uni-Systems, LLC
- FunderMax GmbH
Canopy Market Recent Developments
- In 2021, Vector Foiltec installed Texlon ETFE canopy and façade to University Of Oregon – Hayward Field, Eugene, Oregon, US. It covers 15,610 m², and the stadium has a capacity of over 25,000 seats.
- In December 2020, AGC Chemicals Americas offers F-CLEAN ETFE film for commercial greenhouse facility operators. It offers light transmittance based on specific plant growing requirements.
Canopy Key Market Trends
- There are many different sorts of canopies, including garden canopies, large or event canopies, portable garage canopies, and shade canopies. A canopy can also be created in a factory using a range of materials, including different types of wood, metals, glass, and fabrics. Depending on the intended use of the product and the materials used for it, several uses can be made of it.
- The manufacturing firms compete in the canopy market by offering the most appropriate and reliable products, opening the door for a variety of end-user uses. Additionally, they work on developing innovative goods using cutting-edge technology, offering extra advantages like collecting rainwater and meeting the demand for canopies.
Canopy Market SkyQuest Analysis
SkyQuest’s ABIRAWA (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, modern technology has produced materials with an interlocking design that makes installation easier. Industry participants also introduced solar canopies and rain collection systems, both of which are commonly approved for DIY End-uses. The market participants offer bespoke designs while maintaining textural parity. The market for the product is predicted to increase in a variety of consumer applications, including retail stores, hotels, restaurants, and cafés due to the availability of extended dining areas and for a variety of other leisure activities. By gaining more customers, canopy manufacturers hope to improve their competitive standing. These producers also concentrate on distribution, the introduction of new products, and expansion to gauge current and potential demand trends from developing industries.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 1.83 billion |
| Market size value in 2031 | USD 2.84 billion |
| Growth Rate | 4.5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Canopy Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Canopy Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Canopy Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Canopy Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Canopy Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Canopy Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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