Canopy Market Share, Size, Trends, Industry Analysis Report, By Material (PTFE, ETFE, PVC, Polyester Cloth, Others); By Application (Shade Canopy, Event or Large Canopy, Others); By End-use; By Region; And Segment Forecasts, 2024 - 2032
- Published Date:Jan-2024
- Pages: 115
- Format: PDF
- Report ID: PM4190
- Base Year: 2023
- Historical Data: 2019 – 2022
Report Outlook
The global canopy market size and share was valued at USD 2.01 billion in 2023 and is expected to grow at a CAGR of 3.5% during the forecast period.
The growing adoption of canopies in both residential and non-residential structures is expected to boost the demand for canopies, consequently driving overall market growth in the forecast period. The rapid expansion of the residential sector in developed economies and the growing preference for indoor-outdoor living contribute to the increasing demand for canopies in these regions. Additionally, the trend towards expanding living spaces and the aesthetic enhancements provided by canopies are anticipated to be key factors propelling market growth.
The canopy market study is a compilation of first-hand data, quantitative and qualitative assessment by industry experts, and inputs from the most relevant stakeholders in the value chain. It uses a number of analytical tools to study and assess the data of key industry players and their canopy market share. Analytical tools used to prepare the report include SWOT analysis, Porter’s Five Forces analysis, feasibility study and investment return analysis, amongst others.
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Canopies come in various types, serving different purposes based on their design and materials. These include shade canopies, event canopies, garden canopies, & portable canopies. The versatility of canopies is reflected in the range of materials used in their design and manufacturing, such as fabrics, glass, & wood. The choice of material and type of canopy is determined by the specific end-use requirements, ensuring that canopies cater to a diverse set of applications in areas like providing shade, hosting events, enhancing garden aesthetics, and offering portable garage solutions.
The research report offers a quantitative and qualitative analysis of the Canopy Market to enable effective decision-making. It covers the key trends and growth opportunities anticipated to have a favorable impact on the market. Besides, the study covers segment and regional revenue forecasts for market assessment.
In the competitive market, manufacturers strive to distinguish themselves by providing products that are well-suited and reliable for diverse end-user applications. To stay ahead, they actively incorporate advanced technologies into their production processes, aiming to create innovative canopies that go beyond basic functionalities. One such example is the integration of features like rainwater harvesting in canopy designs. By offering additional benefits beyond conventional use, manufacturers not only meet the demand for traditional canopy applications but also address emerging needs, thereby enhancing their competitiveness in the market.
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Growth Drivers
Rising Demand for Canopies in Residential and Automotive Applications
The U.S. market is poised for growth due to the rising use of canopies as shading solutions in residential structures. Additionally, the increasing installation of car canopies for re-creational shade protection & outdoor car storage is expected to drive demand for the canopies in the country. This trend is fueled by the desire to maximize housing capacity while providing effective shade for outdoor spaces. As a result, the adoption of canopies for both residential and automotive applications is anticipated to contribute to the growth of the canopy market in the U.S. throughout the forecast period.
Report Segmentation
The market is primarily segmented based on material, application, end-use, and region.
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By Material |
By Application |
By End Use |
By Region |
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By Material Analysis
PTFE Segment Held the Largest Share of the Market in 2023
The PTFE segment held the largest share. The choice of materials plays a crucial role in determining the intended applications of canopies. Those constructed with a PTFE fiberglass membrane are particularly well-suited for areas with extreme temperature variations due to their superior strength and durability. Additionally, the material's low-surface free energy facilitates effortless cleaning of the surface through natural rainwater action.
The ETFE segment is projected to grow at the fastest rate. Canopies made from ETFE showcase self-cleaning properties due to their non-sticky surface. The material's ability to stretch allows for flexibility in canopy size, and it also boasts a high resistance to ultraviolet radiation. These features are expected to contribute to the increased demand for ETFE in the market.
Polyester stands out as a commonly utilized material in the design of instant canopies due to its water resistance and durability. These characteristics are expected to contribute to the increased demand for canopies in the forecast period. Moreover, PVC and metal canopy designs find application in various residential and non-residential settings due to the architectural aesthetics they provide.
By Application Analysis
Shade Canopy Segment Registered the Largest Market Share in 2023
The shade canopy segment accounted for the largest share. Shade canopies find widespread use in both residential and commercial applications, serving the dual purpose of providing protection and enhancing aesthetic appeal. These canopies are valued for their versatility and ability to create comfortable outdoor spaces by offering shade from the sun. In residential settings, they are often utilized in backyard spaces, patios, or decks, providing an inviting area for relaxation and outdoor activities. In commercial spaces, shade canopies are employed in various settings, such as outdoor seating areas for cafes, restaurants, and recreational spaces, contributing to their significant market share.
The large canopy segment will grow rapidly. These canopies are extensively employed for commercial applications due to their easy installation and the provision of additional outdoor space for diverse purposes. They find widespread use in various commercial events, such as product launches and exhibitions. Additionally, these canopies serve gardening purposes by protecting plants from extreme sunlight, wind, and rain. Moreover, commercial establishments like restaurants and hotels utilize canopies to extend their dining spaces outdoors. The factors mentioned above are expected to drive the demand for different types and designs of canopies.
By End-Use Analysis
Non-residential Segment Held a Significant Market Revenue Share in 2023
The non-residential segment held the largest share. The growing demand for canopies in diverse commercial applications, including retail shops, hotels, restaurants, and cafes, is driven by the need for expanded dining spaces for patrons and various other recreational activities. This surge in demand is anticipated to propel the growth of the canopy industry throughout the forecast period.
The residential segment will grow at a substantial pace. This growth is attributed to the wide variety of canopy materials, designs, and dimensions available for residential use. Additionally, canopies are employed in numerous residential buildings to augment the aesthetic appeal of bungalows and mansions, contributing to the anticipated growth in the market over the forecast period.
Regional Insights
Europe Held the Largest Share of the Global Market in 2023
Europe region dominated the market. This can be attributed to the rising demand for outdoor spaces in urban areas across the region. Additionally, the growth of the construction industry plays a significant role in driving market expansion. As new buildings and infrastructure projects are continually being developed in the region, there is an increased need for canopies to enhance outdoor spaces, contributing to the overall market growth.
The passion for expanded living spaces and the aesthetic enhancement of buildings fuels the growing demand for canopies in the region. The product contributes to an increase in usable outdoor areas, allowing residents to enjoy inside-outside living experiences. The popularity of this lifestyle trend, coupled with the availability of a diverse range of canopy designs, is driving the demand for canopies in the region as consumers seek ways to beautify their living spaces and make the most of outdoor environments in the region.
The Asia Pacific region is projected to grow at a rapid pace. Within the region, countries like China and Australia have contributed significantly to the market share. This is attributed to the growing prevalence of canopies in commercial establishments such as restaurants and hotels. The increased adoption of canopies in these economies is driven by their ability to provide additional outdoor space for various activities, including event promotions and exhibitions.
Key Market Players & Competitive Insights
The market exhibits a moderate level of concentration with the presence of both large and small-scale manufacturers globally. The demand for reliable and innovative products characterizes intense competition. Most manufacturers focus on incorporating innovative technologies and optimal designs to deliver durable products.
Some of the major players operating in the global market include:
- ADVANCED DESIGN AWNINGS & SIGNS
- Canopies UK Ltd.
- Eide Industries, Inc.
- Impact Canopies USA
- JAY JAY Enterprise
- KD KANOPY, INC.
- Lawrence Fabric, Inc.
- Shade Structures, Inc.
- SUNAIR AWNINGS.
Canopy Market Report Scope
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Report Attributes |
Details |
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Market size value in 2024 |
USD 2.08 billion |
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Revenue Forecast in 2032 |
USD 2.73 billion |
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CAGR |
3.5% from 2024 – 2032 |
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Base year |
2023 |
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Historical data |
2019 – 2022 |
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Forecast period |
2024 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2024 to 2032 |
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Segments covered |
By Material, By Application, By End Use, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
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Customization |
Report customization as per your requirements with respect to countries, region, and segmentation. |
The Canopy Market report details key market dynamics to help industry players align their business strategies with current and future trends. It examines technological advances and breakthroughs in the industry and their impact on the market presence. Furthermore, a detailed regional analysis of the industry at the local, national, and global levels has been provided.
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FAQ's
The global canopy market size is expected to reach USD 2.73 billion by 2032
Key players in the market are Eide Industries, SUNAIR AWNINGS, Shade Structures, Canopies UK, Lawrence Fabric, Impact Canopies USA
North America contribute notably towards the global canopy market
The global canopy market is expected to grow at a CAGR of 3.5% during the forecast period.
The canopy market report covering key segments are material, application, end use, and region.
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