PUBLISHER: Grand View Research | PRODUCT CODE: 1362915
PUBLISHER: Grand View Research | PRODUCT CODE: 1362915
North America Freestanding Canopy Market Size, Share & Trends Analysis Report By Type (High-end Residential/Commercial, Others), By Application (Residential, Non-residential), By Region, And Segment Forecasts, 2023 - 2030
North America Freestanding Canopy Market Growth & Trends:
The North America freestanding canopy market size is expected to reach USD 83.5 million by 2030 and expand at a CAGR of 6.1% from 2023 to 2030, according to a new report by Grand View Research, Inc.. The market growth is attributed to the rising popularity of luxury canopies in urban areas owing to the limited availability of outdoor spaces. In addition, the growing tourism and hospitality industry has increased the demand for freestanding canopies in resorts, restaurants, and hotels. This, in turn, is expected to drive market growth.
People living in urban areas usually have a higher average income due to the presence of various businesses and industries providing better job opportunities. This increased income in the urban population results in a larger market share of luxury goods and services, including luxury canopies. Urban populations are willing to spend more on high-end products in order to showcase their improved lifestyle. These factors are likely to support the growth of the freestanding canopy market in urban areas in the coming years.
The demand for the freestanding canopy is likely to be hampered on account of its higher cost, which restricts its usage. It is positioned as a high-end product, resulting in a smaller customer base and potentially lower sales volume. It can only attract buyers who prioritize high-quality materials and products with advanced features, thus limiting the market growth. Moreover, the availability of low-cost umbrellas and other canopies, which are priced comparatively less and have higher usage in residential and commercial applications, is likely to challenge the market growth.
The market is highly competitive in nature owing to the presence of a large number of players. Market players are collaborating with installers and distributors to offer value-added services to increase their market share. Moreover, major manufacturers in the U.S. are concentrating on research & development, geographical expansion, new product & technological development, and mergers & acquisitions to gain a competitive advantage.
North America Freestanding Canopy Market Report Highlights:
- The market is expected to expand at a CAGR of 6.2% over the forecast period. Residential areas are increasingly using freestanding canopy and luxurious cantilever umbrellas near the poolside or over the patio as a result of the growing popularity and trend of outdoor living spaces, particularly in high-income groups. Additionally, as consumer expenditure on outdoor leisure activities is increasing due to rising per capita income in economies such as the U.S. and Canada, the demand for freestanding canopy is expected to grow in coming years
- The non-residential segment led the market owing to increasing product use in commercial locations such as hotels, resorts, restaurants, and recreational areas in the U.S. and Canada. The expansion of the freestanding canopy market in the region is also being fueled by the preference to enhance the overall dining experience, develop usable outside spaces, and meet the rising demand for outdoor amenities in commercial spaces
- The freestanding canopy market in the U.S. was valued at $41.8 million in 2022 and is expected to grow significantly over the forecast period. This growth is attributed to the increasing popularity of outdoor living in residential spaces. Moreover, the growing hospitality and tourism industries in the U.S. contribute significantly to the growth of the freestanding canopies market. In addition, the recovery from the COVID-19 pandemic is expected to further fuel the hospitality industry, thereby increasing the demand for freestanding canopies in coming years
- The competitive rivalry among manufacturers of the freestanding canopy in North America is high as the market is characterized by the presence of a large number of regional players. The major players typically offer a diverse range of canopies rather than producing only specific types of products. These manufacturers primarily compete based on pricing and brand image. In addition, companies compete for market share by offering specialized installation services
- The major manufacturers in the market include Poggesi, ShadeFX, FIM S.r.l, Tucci, The Shade Experts USA, BambrellaUSA, Galtech International, Shademaker, Tropitone, and Hauser Industries Inc.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Scope & Assumption
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook, 2022 (USD Million)
- 2.2. Segmental Outlook
- 2.3. Competitive Insights
Chapter 3. North America Freestanding Canopy Market Variables, Trends & Scope
- 3.1. Market Lineage Market
- 3.2. Value Chain Analysis
- 3.3. Regulatory Framework
- 3.4. North America Freestanding Canopy Market - Market Dynamics
- 3.4.1. Market Driver Analysis
- 3.4.2. Market Restraint Analysis
- 3.4.3. Market Opportunity Analysis
- 3.4.4. Market Challenge Analysis
- 3.5. North America Freestanding Canopy Market - Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyer
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitution
- 3.5.5. Competitive Rivalry
- 3.6. Industry Analysis - PESTLE by SWOT
- 3.6.1. Political Landscape
- 3.6.2. Economic Landscape
- 3.6.3. Social Landscape
- 3.6.4. Technological Landscape
- 3.6.5. Environmental Landscape
- 3.7. Market Disruption Analysis
Chapter 4. North America Freestanding Canopy Market: Type Estimates & Trend Analysis
- 4.1. Key Takeaways
- 4.2. Type Market Share Analysis, 2022 & 2030
- 4.3. High-end Residential/Commercial
- 4.3.1. North America Freestanding Canopy Market Estimates and Forecasts, by High-end Residential/Commercial, 2018 - 2030 (USD Million)
- 4.4. Others
- 4.4.1. North America Freestanding Canopy Market Estimates and Forecasts, By Others, 2018 - 2030 (USD Million)
Chapter 5. North America Freestanding Canopy Market: Application Estimates & Trend Analysis
- 5.1. Key Takeaways
- 5.2. Application Market Share Analysis, 2022 & 2030
- 5.3. Residential
- 5.3.1. North America Freestanding Canopy Market Estimates and Forecasts, by Residential, 2018 - 2030 (USD Million)
- 5.4. Non-residential
- 5.4.1. North America Freestanding Canopy Market Estimates and Forecasts, By Non-residential, 2018 - 2030 (USD Million)
Chapter 6. North America Freestanding Canopy Market: Regional Estimates & Trend Analysis
- 6.1. Key Takeaways
- 6.2. Regional Market Share Analysis, 2022 & 2030
- 6.3. North America
- 6.3.1. North America Freestanding Canopy Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.2. U.S.
- 6.3.2.1. U.S. Freestanding Canopy Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.3. Canada
- 6.3.3.1. Canada Freestanding Canopy Market Estimates and Forecasts, 2018 - 2030 (USD Million)
- 6.3.4. Mexico
- 6.3.4.1. Mexico Freestanding Canopy Market Estimates and Forecasts, 2018 - 2030 (USD Million)
Chapter 7. North America Freestanding Canopy Market Supplier Intelligence
- 7.1. Kraljic Matrix/Portfolio Analysis
- 7.2. Engagement Model
- 7.3. Negotiation Strategies
- 7.4. Sourcing Best Practices
- 7.5. Vendor Selection Criteria
Chapter 8. Competitive Landscape
- 8.1. Key Players, their Recent Developments, and their Impact on Industry
- 8.2. Key Company/Competition Categorization
- 8.3. Company Market Position Analysis
- 8.4. Company Heat Map Analysis
- 8.5. Strategy Mapping
- 8.6. Company Listing
- 8.6.1. Helical Anchors, Inc.
- 8.6.1.1. Company Overview
- 8.6.1.2. Financial Performance
- 8.6.1.3. Product Benchmarking
- 8.6.1.4. Strategic Framework
- 8.6.2. Poggesi
- 8.6.3. ShadeFX
- 8.6.4. FIM S.r.l
- 8.6.5. Tucci
- 8.6.6. The Shade Experts USA
- 8.6.7. BambrellaUSA
- 8.6.8. Galtech International
- 8.6.9. Shademaker
- 8.6.10. Tropitone
- 8.6.11. Hauser Industries Inc.
- 8.6.1. Helical Anchors, Inc.
List of Tables
- Table 1 North America freestanding canopy market revenue by type, 2018 - 2030 (USD Million)
- Table 2 North America freestanding canopy market revenue by application, 2018 - 2030 (USD Million)
List of Figures
- Fig. 1 Information Procurement
- Fig. 2 Primary Research Patter
- Fig. 3 Primary Research Process
- Fig. 4 Market Research Approaches - Bottom Up Approach
- Fig. 5 Market Research Approaches - Top Down Approach
- Fig. 6 Market Research Approaches - Combined Approach
- Fig. 7 Market Outlook
- Fig. 8 Segmental Outlook
- Fig. 9 Competitive Outlook
- Fig. 10 North America freestanding canopy market - Market segmentation & scope
- Fig. 11 Market driver analysis
- Fig. 12 Market restraint analysis
- Fig. 13 PESTEL analysis
- Fig. 14 Porter's five forces analysis
- Fig. 15 North America freestanding canopy market, by type: Key takeaways
- Fig. 16 North America freestanding canopy market, by type: Market share, 2022 & 2030
- Fig. 17 North America freestanding canopy market revenue, 2018 - 2030 (USD Million)
- Fig. 18 North America freestanding canopy market revenue, by High-end Residential/Commercial, 2018 - 2030 (USD Million)
- Fig. 19 North America freestanding canopy market revenue, by Others, 2018 - 2030 (USD Million)
- Fig. 20 North America freestanding canopy market, by application: Key takeaways
- Fig. 21 North America freestanding canopy market, by application: Market share, 2022 & 2030
- Fig. 22 North America freestanding canopy market revenue, 2018 - 2030 (USD Million)
- Fig. 23 North America freestanding canopy market revenue, by Residential, 2018 - 2030 (USD Million)
- Fig. 24 North America freestanding canopy market revenue, by Non-residential, 2018 - 2030 (USD Million)
- Fig. 25 North America freestanding canopy market, by regional: Key takeaways
- Fig. 26 North America freestanding canopy market, by regional: Market share, 2022 & 2030
- Fig. 27 North America freestanding canopy market revenue, 2018 - 2030 (USD Million)
- Fig. 28 U.S. freestanding canopy market revenue, 2018 - 2030 (USD Million)
- Fig. 29 Canada freestanding canopy market revenue, 2018 - 2030 (USD Million)
- Fig. 30 Kraljic Matrix
- Fig. 31 Engagement Model
- Fig. 32 Vendor Selection Criteria
- Fig. 33 Sourcing Best Practices
- Fig. 34 Company Competition/Categorization
- Fig. 35 Heat Map Analysis
- Fig. 36 Company Market Position Analysis
- Fig. 37 Strategy Mapping
