Global Retractable Awnings Market | New Report Presenting Trends and New Opportunities on Retractable Awnings Industry in 2018 | Forecasted till 2028

Rockville, US, 2018-Jul-11 — /EPR Network/ — Immense popularity of retractable awnings with their efficient UV filtration function is just the tip of the iceberg. Apart from creating cooling effect and maintaining indoor temperature, retractable awnings also aid in considerable cost cutting with respect to indoor power consumption. In addition, significant growth opportunities can be grabbed in the retractable awnings market with growing renovations and remodeling of houses and commercial spaces across the world. Furthermore, the demand for retractable awnings is expected to increase with increasing number of eateries, cafes and quick service restaurants that employ retractable awnings, considering them as an additional means of brand image visibility apart from their regular functionality.

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A recent research report by Fact.MR has revealed key growth prospects of the retractable awnings market along with opportunity analysis and projections with respect to demand and supply scenario of retractable awnings. According to the report, the retractable awning market is projected to expand at a robust CAGR of 6.7% with respect to value throughout the period of forecast, 2018-2028, during which the demand for retractable awnings is expected to reach its peak in terms of sales volume. Sales of retractable awnings are expected to remain concentrated in the emerging economies of Asia Pacific excluding Japan (APEJ) region across countries of China, Australia and India, consequently portraying a higher market attractiveness index of APEJ region during the period of forecast.

Retractable Awnings Market: Fabrics Recognized as a Better Material Choice From a Durability Standpoint

Fabric as a material for retractable awnings as gained widespread attention, given its enhanced UV filtering efficiency coupled with better durability. Knowing this factor, companies involved in the manufacturing of retractable awnings are focusing on introducing retractable awnings with advanced material that reflect high durability and effectiveness. Fabrics with no-fade qualities and self cleansing technology have been developed. With increasing preference for texture and depth of the fabric, manufactures of retractable awnings have come up with a woven combination of standard sized yarn and slightly thick slub yarn in order to promote high fabric depth while maintaining stability and enhancing water resistance. This is expected to push the demand for fabric as a superior material for retractable awnings during the period of forecast.

Global Retractable Awnings Market: Cut-Throat Competition Between North America and Europe

As global demand for retractable awnings continues to witness a significant upsurge, volume sales of retractable awnings remain competitive in developed regions of North America and Europe. Albeit, Europe being a shade better in terms of sales of retractable awnings, the North America retractable awnings market is expected to spur at a relatively higher pace, given the increasing number of remodeling expenditure witnessed in the region, particularly in the United States. According to the report of Joint Center for Housing Studies, the house owners in the United States are expected to spend an excess of US$ 330 billion on up gradation of homes and remodeling along with routine maintenance programs, that has presented potential opportunities for installation of retractable awnings, in turn pushing growth of retractable awnings market in the region.

Global Retractable Awning Market: High Initial Price to Surface as a Key Growth Deterrent

Retractable awnings are relatively expensive than regular awnings, which makes it essential for the user to purchase retractable awnings from reputed companies and known brands in order to gain price satisfaction. However, high price of retractable awnings has been challenging the growth of the retractable awnings market, given the possibility of probable customer reluctance in purchasing the product. Moreover, replacement of electric sensors becomes essential during adverse weather conditions. The development of mildew and molds on awnings can deter their UV filtration quality as well as potentially damage sensors that could result in additional cost of repair. This factor is expected to challenge the adoption of retractable awnings consequently restraining the growth of the retractable awning market.

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Table of Contents:

Chapter 1 Executive Summary

Chapter 2 Global Retractable Awnings Market Overview
2.1 Introduction
2.2 Market Definition
2.3 Scope of the Report/Taxonomy
2.4 Opportunity Analysis in Retractable Awnings Market
2.5 Mega Trends in Retractable Awnings Market

Chapter 3 Market Dynamics
3.1 Key Growth Drivers
3.1.1 Growing Demand for Home Repair and Improvement
3.1.2 Awareness Against UV Protection
3.1.3 Considerable Reduction in Air Conditioning Costs
3.2 Key Trends
3.2.1 Advances in Fabric Material
3.2.2 Technological Innovations Leading to Premiumization
3.3 Industry Opportunity
3.3.1 Facilitating Business Promotion
3.4 Industry Challenges
3.4.1 High Prize and Frequent Maintenance
3.5 Market White Spaces Analysis and Wheel of Fortune Opportunity Analysis

Chapter 4 Associated Industry and Key Indicator Assessment
4.1 Global Consumer & Retail Industry Overview
4.2 Supply Chain Analysis
4.2.1 Regional Retractable Awnings Business Performance Summary
4.2.2 List of Active Participants


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