REPORT HIGHLIGHT
Canopy Market size was valued at USD 2,201.7 Million in 2022, expanding at a CAGR of 5.5% from 2023 to 2030.
A canopy is a structure that extends from the roof and is erected to offer cover, shade, and security. Usually supported by columns, beams, or other structural elements, it is an architectural feature that tends to go beyond the boundaries of the ordinary structure.
Canopy Market - Market Dynamics:
- Growth of infrastructure projects drives market growth
- The upkeep and growth of public infrastructure are both increasing. As population and urbanization rise globally, private real estate development and individual home building will also continue to expand. Construction, expansion, or modernization is required for public buildings including schools, hospitals, and clinics. These numerous initiatives, which range in scope and magnitude, will continue to support the worldwide canopy market as long as the threat of water pollution is a major factor. A building's living or working area can be increased by using canopies. They are also utilized for beauty or decoration. To keep people, dry and safe while conducting business, pathways connecting two close buildings are also covered with canopies. The residential sector's rapid expansion and the growing trend of decorating larger living areas with canopies are projected to drive the market's expansion. Additionally, the market is projected to grow as inside-outside living becomes more and more popular and a variety of product designs that are appropriate for residential structures become more readily available. The world canopy market is anticipated to expand in the years ahead as more people swarm hotels, beaches, cafes, and outdoor buildings.
Canopy Market - Key Insights:
- As per the analysis shared by our research analyst, the global Canopy market is estimated to grow annually at a CAGR of around 5.5% over the forecast period (2023-2030)
- The Canopy industry is projected to grow at a significant rate owing to the growth in infrastructure projects.
- Based on the material, the PTFE segment is expected to hold a significant market share over the forecast period.
- Based on region, North America is expected to dominate the market over the forecast period.
Canopy Market- Segmentation Analysis:
- The Global Canopy Market is segmented based on material, application, end-use and Region.
- Based on the material, the global Canopy market is segmented into PTFE, ETFE, PVC, Polyester Cloth and Others. The PTFE segment is expected to hold a significant market share over the forecast period. These canopies are long-lasting, UV radiation-resistant, and have a high tensile strength. PTFE canopies are renowned for their ability to transmit diffused light, self-cleaning qualities, and non-stick surfaces. They are utilized particularly in environments where a longer lifespan is required, and PTFE is well suited for this need due to its outstanding weather resistance and translucency. On the other hand, the PVC segment is expected to grow at the fastest rate over the forecast period. Polyester coated with polyvinyl chloride (PVC) is the most often chosen material for tensile membrane constructions. PVC is preferred because of its superior strength, water resistance, flexibility, transparency, and durability. It is the most affordable and adaptable tensile fabric and may be used for a wide range of permanent and temporary color and application applications. PVC has been coated to resist stains, fire, and UV rays.
Canopy Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to dominate the market during the forecast period. The regional market growth is attributed to the increasing use of various types of canopies across commercial and residential units. The regional population of the US and Canada prefers dining outside, which has led to an increase in the number of cafes and restaurants that provide outdoor sitting for patrons. Furthermore, canopies are frequently utilized in supermarkets and other retail establishments as a way to advertise new items or a customer service desk. Thus, this is expected to drive the market growth in the region.
Canopy Market- Competitive Landscape:
The key players operating in the market are: ShadeFX, Skyco Shading Systems, Samson Awnings, Tensile Structure SystemsShade Structures Inc., BDiR Inc., Creative Shade Solutions, Shade Systems, FabriTec Structures, Architectural Shade Products, USA SHADE & Fabric Structures, MASA Architectural Canopies, Carroll Architectural Shade, Advanced Awnings and Signs, Canopy Mart, Renson and Sunesta.
Recent Developments:
In June 2023, the debut of Capture was recently announced by Technip Energies (T.EN).The company has now developed a strategic platform that unifies all of its Carbon Capture, Utilization, and Storage (CCUS) technology and products. T.EN is introducing Canopy by T.ENTM, an integrated range of customizable modular post-combustion carbon capture technologies, as a foundation for its goal of dominating the CCUS industry. With capacity spanning from pilots to major installations across industries and locales, these solutions are adaptable to emitters of all sizes, enabling them to confidently capture carbon and achieve their emission-reduction goals effectively and inexpensively.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL CANOPY MARKET KEY PLAYERS
- ShadeFX
- Skyco Shading Systems
- Samson Awnings
- Tensile Structure Systems
- Shade Structures Inc.
- BDiR Inc.
- Creative Shade Solutions
- Shade Systems
- FabriTec Structures
- Architectural Shade Products
- USA SHADE & Fabric Structures
- MASA Architectural Canopies
- Carroll Architectural Shade
- Advanced Awnings and Signs
- Canopy Mart
- Renson
- Sunesta
GLOBAL CANOPY MARKET, BY MATERIAL
- PTFE
- ETFE
- PVC
- Polyester Cloth
- Others
GLOBAL CANOPY MARKET, BY APPLICATION
- Shade Canopy
- Event or Large Canopy
- Others
GLOBAL CANOPY MARKET, BY END-USE
- Residential
- Non-residential
GLOBAL CANOPY MARKET, BY REGION
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA