Canopy Market Key Players, Shares, Types, Manufacturers, Industry Analysis, Growth, Trends, Drivers, Challenges 2020 – 2027

A canopy is an overhead roof or a structure over which a fabric or metal covering is attached that provide shade or shelter from different weather conditions such as snow, rain, hail and sun. It offers various solutions for problems including keeping the area dry and safe, protecting an area and also helps in widen the working or living space in a building. In addition, canopy is widely used for different purposes depending upon demand from consumers.

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Rising penetration of canopies in various residential and non-residential activities and provision for expanded outdoor space for seating and recreational purposes is driving the global canopy market. Increasing installation of canopies in various residential and commercial buildings to protect from wind, heat and precipitation will boost the global canopy market. Moreover, the rapid growth of the residential sector in developed economies coupled with the increasing trend of beautification of expanded living spaces offered by the canopies will further enhance the growth of the global canopy market in upcoming years. In addition, manufacturers are focusing on numerous programs to increase awareness regarding the benefits of using canopies in both residential and non-residential buildings that will increase the demand for canopy across the globe.

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Based on the material, canopies are manufactured by using various raw materials including PTFE, ETFE, PVC, polyester cloth and others. PTFE fiberglass membrane is expected to grow at a higher rate during the forecast period in the global canopy market due to its superior properties such as high strength, thermal stability, weather-resistant characteristics and durability with extreme temperature conditions. ETFE-based canopies provide self-cleaning properties and also highly resistant to ultraviolet radiation that will enhance the market growth of ETFE over the forecast period. The PVC material is used in the various residential and non-residential applications in the global canopy market. Moreover, these are manufactured from various materials such as wood, glass and metal-based on demand from consumers.

Based on the application, Shade Canopy expected to capture the largest market share in the global canopy market in 2018 owing to the rising adoption by the consumers in the residential sector and also provide protection in commercial & residential applications. Event or Large Canopy are widely used for commercial use due to the ease of installation and also offer extended outdoor space for various purposes that will drive the global canopy market.

Based on the end-use, Canopies are widely used in residential and non-residential end-use due to its benefits including sun protection and also provide an additional aesthetic value of the building that is offered by the product. Non- Residential Anticipated to lead the market during the forecast period in the global canopy market due to the growing usage of the product in various commercial applications such as hotels, restaurants, retail shops and cafes for extended dining space for visitors and other recreational activities will further increase the demand for canopies in upcoming years.

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Based on the region, North America region is expected to grow at a higher rate during the forecast period owing to the increasing penetration of canopies in the residential sector and the growing popularity of inside-outside living in this region. In addition, the availability of a various range of canopy designs will drive the canopy market in this region. Shade canopy projected to capture substantial share in the North America region in 2018. Asia-Pacific region is also growing in the global canopy market owing to the growing demand for the event or large canopies in non-residential buildings in this region. Moreover, increasing adoption of canopies and growing demand in the commercial outlets for this product in countries including China and India will drive the canopy market in the Asia-Pacific region.

Various notable players operating in the market, include, Eide Industries, Inc., Shade Structures, Inc., Lawrence Fabric & Metal Structures Inc., KD Kanopy, Inc., Advanced Design Awnings & Signs, Sunair Awnings, Vitabri Canopies UK Ltd, Impact Canopy, JAY JAY Enterprise, among others. Prominent players are investing in new product launches to increase their presence in the global canopy market.

The global canopy market has been segmented on the basis of material, application, end-use and key regions. Based on material, the market is segmented into polytetrafluoroethylene (PTFE), ethylene tetrafluoroethylene (ETFE), polyvinyl chloride (PVC), polyester cloth and others. Based on application, the market is segmented into shade canopy, event or large canopy and others. Based on application, the market is segmented into residential, and non-residential.

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