Global Canopy Market Size, Share, Growth, Trend, Analysis, and Forecast 2030
The global canopy market was valued at around USD 1832 million in 2022, and it is expected to expand to around USD 2610 million by 2030, at a compound annual growth rate (CAGR) of around 4.52% between 2023 and 2030.
Canopy Market: Overview
A canopy is a structure that extends from the top of a roof and is built to provide protection, shade, and shelter. It is a type of architectural element that often extends beyond the traditional framework and is supported by columns, beams, or other elements. Its major purpose is to offer visual appeal to the structure. Canopies produced in the current day are meant to improve not only the utility but also the overall aesthetic of the space in which they are installed.
For example, a common type of canopy that is extensively used is the entry canopy, which is widely used to cover building entrances. They also protect those entering and exiting the building from the sun, rain, and other environmental conditions. They can be found in a wide range of building contexts, including residential and commercial structures. Canopies can be made of a number of materials depending on the application for which they are intended. They are also available in a variety of combinations, including as forms, sizes, and patterns, allowing for product differentiation.
Read Related:
https://www.zionmarketresearch.com/news/global-canopy-market
Canopy Market: Growth Drivers
The growing popularity of eating outside is the key driver of market expansion.
The global market for canopies is predicted to grow due to the growing popularity of eating outside and the corresponding increase in demand. This suggests that modern consumers who dine out prefer outdoor sitting arrangements, particularly for activities such as brunch or high tea. These types of commercial facilities are particularly common in countries where the average yearly temperature is below freezing and where the majority of citizens prefer to eat their meals outside rather than indoors so they may enjoy the scenery or bask in the sun. Furthermore, previous income patterns suggest that restaurants and cafés that implement such agreements may not need to spend a substantial amount of money on advertising or promotion. The resources saved can be used to improve the environment of the seating area in order to attract more consumers. Canopies also have a high value-to-cost ratio since they can be used for a range of activities in the same place throughout the year, resulting in increased functional qualities.
Canopy Market: Segmentation
The global market for canopies can be divided into several submarkets based on end-user, application, material, and geographic location.
The two key sub-segments of the global market are non-residential and residential applications, respectively. The commercial and industrial sectors experienced the biggest increase in growth in 2022. This market category’s end-users comprise a wide range of businesses, including commercial buildings, educational institutions, transit hubs, and healthcare facilities. Despite the fact that these units typically create concrete roofs, a considerable number of businesses use the canopy to widen the scope of their operations. Canopies are a typical sight in commercial constructions such as offices, retail stores, and shopping malls, as well as hospitality organizations. Canopies are frequently used at educational institutions to provide shaded areas for students and personnel, as well as to cover walkways and outdoor meeting rooms. The residential sector is divided into two parts: freestanding residences and apartment and condominium buildings.
Canopy Market: Regional Analysis
North America will experience the greatest growth.
The worldwide canopy market is predicted to develop the fastest in North America, owing to the increasing use of various types of canopy across commercial and residential units. The regional population of the United States and Canada enjoys eating outside, which has led in an increase in the number of cafés and restaurants giving outdoor seating to their clients. Furthermore, canopies are widely utilized in supermarkets and other retail locations to promote new products or as 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
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
Contact US
Zion Market Research
US OFFICE NO +1 (302) 444-0166
US/CAN TOLL-FREE +1 (855) 465-4651
Email: sales@zionmarketresearch.com
Read Also:
https://www.linkedin.com/pulse/global-industrial-insulation-market-size-share-growth-michael-goode/
https://www.linkedin.com/pulse/global-rubber-gloves-market-size-share-trend-growth-report-patil/
https://www.linkedin.com/pulse/polyimide-fibers-market-size-share-trend-growth-forecast-goode/