The global retractable awning market size was valued at USD 6,528.1 million in 2021 and is poised to grow at a significant CAGR of 8.5% during the forecast period 2023-29. The primary driver of the expansion of the global retractable awning market increasing consumer preference for open-air seating spaces such as patios and decks which rising the demand for retractable awnings products. The global Retractable Awning market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In Feb 2022, Summer Space entered eyeing growth through strategic partnerships with residential contractors to provide simple shades for summer spaces awnings.

View the detailed report description here - https://precisionbusinessinsights.com/market-reports/retractable-awning-market/  

The global retractable awning market segmentation:

• By Product: Window Retractable Awnings, Patio Retractable Awnings, Freestanding Retractable Awnings, and Smart Retractable Awnings
• By Retracting: Motorized Retractable Awnings Manual Retractable Awnings, and Others (Remote Control)
• By Material: Vinyl, Fiberglass, Metal, Acrylic, and Others
• By Application: Residential, and Commercial

Patio Retractable Segment to Dominate the Retractable Awning Market

The patio Retractable segment is expected to account for a larger revenue share in the global retractable awning market, with the highest share worldwide. Patio awnings hold an optimum market share in past years by increasing expenditure on patio furnishings. Moreover, a frequent rising number of homes with patios in developed regions is expected to push the demand. Furthermore, a positive impact on market growth would be predicted by increasing preference for homes with outdoor living areas. The rapid rise in the installation of freestanding retractable awnings in free space and commercial establishments such as gardens, restaurants, cafes, and near swimming pools and stadiums. The rising number of outdoor cafes and restaurants across worldwide enhances the demand in the retractable awning market. Urbanization and technological advancements are also expected to boost segment growth.

Asia Pacific Retractable Awning Market

The North American market is expected to lead the global Retractable Awning market over the forecast period. The North American retractable awnings market is predicted to grow rapidly because of enhanced consumer spending on luxurious and comfortable lives, mostly in the United States.  Remodeling the house with open spaces requires these advanced retractable awning products. These factors are predicted to enhance the overall market growth over the forecasted period.

Request sample report at https://precisionbusinessinsights.com/request-sample?product_id=59509

Key players’ profiles in the retractable awning market report are Markilux USA, Inc., Commercial Awnings Ltd., Patio Shades Retractable Awnings, Eide Industries, Inc., Sunair Awnings, Marygrove Awnings, MITJAVILA, NulmagePro & Nulmage Awnings, Sunesta, Warema Renkhoff SE, Advanced Designs Awnings & Signs.

About Precision Business Insights:
We are a market research company that strives to provide the highest quality market research insights. Our diverse market research experts are enthusiastic about market research and produce high-quality research reports. We have over five hundred clients with a good business partnership the capacity to provide in-depth research analysis for more than thirty countries. In addition to delivering more than 150 custom solutions, we already have accounts with the top five medical device manufacturers.

Precision Business Insights offers cost-effective and customized research services to meet research requirements. We are a leading research service provider because of our extensive database built by our experts and our services.

Contact:

Mr. Satya

Precision Business Insights | Toll Free: +1 866 598 1553

Email: sales@precisionbusinessinsights.com
Kemp House, 152 – 160 City Road, London EC1V 2NX
Website: https://precisionbusinessinsights.com/ | D U N S® Number: 852781747