Awnings Industry Statistics

In this post, we will explore key statistics and trends within the awnings industry. From the impact of awnings on indoor temperatures to market projections and material preferences, we will delve into the data shaping this dynamic sector.

Statistic 1

"Awnings can reduce indoor temperatures by up to 15 degrees Fahrenheit."

Statistic 2

"Smart awning systems with sensors for automatic control are expected to see a CAGR of 8.5% by 2027."

Statistic 3

"Approximately 30% of the global awnings market is driven by the hospitality sector."

Statistic 4

"The Asia-Pacific region is projected to experience the highest growth rate, largely driven by urbanization."

Statistic 5

"About 25% of awning users prefer manual over motorized options due to lower costs."

Statistic 6

"Canvas is the most popular material for awnings, accounting for about 35% of the market."

Statistic 7

"Commercial sector holds the largest market share in terms of revenue."

Statistic 8

"Residential applications represent over 40% of the awnings market."

Statistic 9

"North America accounted for over 44% of the total market share in 2019."

Statistic 10

"The market is projected to reach $10.7 billion by 2027, growing at a CAGR of 7.6% from 2021 to 2027."

Statistic 11

"Motorized retractable awnings are expected to grow at the highest CAGR during the forecast period."

Statistic 12

"Aluminum awnings are favored for their durability and represent around 20% of the market share."

Statistic 13

"67% of homeowners in the U.S. with awnings report they installed them to increase home shade."

Statistic 14

"Over 70% of commercial buildings with patios or terraces opt for awnings to expand outdoor seating areas."

Statistic 15

"The global awnings market size was valued at $6.4 billion in 2020."

Statistic 16

"Solar-powered retractable awnings are becoming increasingly popular, especially in Europe."

Statistic 17

"The U.S. awnings market is expected to grow at a CAGR of 5.3% over the next five years."

Statistic 18

"The environmental benefits such as energy savings drive around 15% of the awning installations."

Statistic 19

"Retractable awnings accounted for approximately 65% of the market share in 2020."

Statistic 20

"The installation cost for a medium-sized retractable awning in the U.S. ranges from $2,000 to $3,500."

In conclusion, the awnings industry is experiencing significant growth and diversification, with smart awning systems, canvas materials, aluminum awnings, and motorized retractable options emerging as popular choices. The market is projected to reach $10.7 billion by 2027, driven by factors such as urbanization, the hospitality sector, and the increasing adoption of solar-powered and environmentally friendly options. The statistics highlight a shifting preference towards automated systems and the potential for energy savings, making awnings not only a practical solution for temperature control but also a sustainable choice for residential and commercial applications.