The global canopy market size is expected to reach USD 2.1
billion by 2025, accelerating at a CAGR of 4.0% over the forecast period,
according to a new report by Grand View Research, Inc. Provision for expanded
outdoor space for seating and recreational purposes owing to the installation
of canopies in nearby residential and non-residential buildings is expected to
drive the product demand over the forecast period.
Increasing penetration of the product
in commercial and residential sectors is anticipated to complement the growth
of the market over the forecast period. This can be attributed to the rising
installation of canopies in residential areas and above various commercial
buildings for protection from heat, wind, and precipitation. PTFE canopies are
widely used on account of their superior weather-resistant characteristics,
thermal stability, and high durability.
Canopies are also preferred owing to
the aesthetic appeal they impart to a space. Rapid growth of the residential
sector in North American economies with rising trend of beautification of
expanded living spaces with canopies are likely to propel the market growth.
Furthermore, increasing popularity of inside-outside living and the
availability of a wide range of product designs suitable for residential
buildings are likely to augment the demand for the product.
Major players in the industry offer a
wide range of products along with most suitable designs and innovative
technology, which aid market players in gaining an edge over their competitors.
Most of the players compete on the basis of providing customized designed to
suit the exact requirements of end users. A variety of materials including
PTFE, ETFE, PVC, glass, wood, and various metals can be used to design a
product that is a perfect fit for the area of installation.
Browse full research report on Canopy Market: https://www.grandviewresearch.com/industry-analysis/canopy-market
Further key findings from the report suggest:
- PTFE material segment accounted for 42.0% of the global
revenue share in 2018
- Non-residential segment is projected to grow at a CAGR of
3.9%, in terms of revenue, from 2019 to 2025, owing to extended space
along with architectural aesthetics offered by the installation of the
products
- The canopy market in North America is estimated to witness a
growth rate of 4.2%, in terms of revenue, from 2019 to 2025 due to
increased adoption of canopy as shades in the residential sector for
protection and enhanced aesthetics
- China accounted for over 33.1% of the Asia Pacific market
revenue share in 2018 owing to increasing penetration of the product.
Browse
request sample of this report by Grand View Research: https://www.grandviewresearch.com/industry-analysis/canopy-market/request/rs1
Grand View Research has segmented the global canopy market on the
basis of material, application, end-use, and region:
Material Outlook (Revenue, USD Million, 2014 - 2025)
- PTFE
- ETFE
- PVC
- Polyester
Cloth
- Others
Application Outlook (Revenue, USD Million, 2014 - 2025)
- Shade
Canopy
- Event
or Large Canopy
- Others
End-Use Outlook (Revenue, USD Million, 2014 - 2025)
- Residential
- Non-residential
Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- Russia
- Spain
- U.K.
- Asia
Pacific
- China
- India
- Japan
- South
Korea
- Australia
- Central
& South America
- Argentina
- Brazil
- Middle
East & Africa
- South
Africa
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For
more info visit @ https://www.grandviewresearch.com
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