According to a new report from Allied Market Research titled Market for awnings in Europe by Type, Product, and End User: Opportunity Analysis and Industry Forecast, 2020–2027”, the market size for awnings in Europe was estimated at US$2,090.0 million in 2019 and is expected to reach US$2,529.3 million by 2027 achieve a CAGR of 3.9% from 2020 to 2027.
Key players covered in this report include:
- Commercial Awnings Limited,
- Gibus, Markilux GmbH,
- MHZ Hachtel GmbH & Co. KG,
- blinds awnings,
- Varisol, Warema Renkhoff SE,
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The most commonly observed types of awnings are fixed and retractable. Among these, the retractable segment accounts for the largest market size due to the increased demand for residential space by value. The market is analyzed in terms of various products offered such as patios, freestanding windows, and others. The market is mainly determined by developments in the residential and commercial construction sector. However, fluctuations in raw material prices limit the growth of the awning market in Europe.
In 2019, Germany dominated the European awning market in terms of sales and accounted for the largest share of the European awning industry, followed by France and others. Furthermore, the market in Eastern Europe is growing at a high CAGR due to urbanization and economic development in developing countries like Bulgaria, Poland and others. In addition, increasing home remodeling expenses are driving the demand for different types of awnings. Furthermore, based on the end user, the non-residential segment is expected to grow rapidly at a high CAGR over the forecast period due to the increase in non-residential construction projects and economic development in Eastern Europe.
Get the full research report: https://www.alliedmarketresearch.com/europe-awnings-market-A11113
However, due to the coronavirus situation, various manufacturers in…