Global Canopy Market – Industry Trends and Forecast to 2029

Canopy Market Analysis and Size

Canopy are convenient and durable structures that can be easily installed compared to their counterparts. The ‘polytetrafluoroethylene (PTFE)’ is the fastest growing material segment due to its extensive use in several countries with high temperatures during the forecast period. Furthermore, the rapid growth of the residential sector and the increasing popularity of inside-outside living are likely to increase the demand for canopies in the market in the forecast period.

Data Bridge Market Research analyses that the canopy market was valued at USD 1.83 billion in 2021 and is expected to reach USD 2.60 billion by 2029, registering a CAGR of 4.50% during the forecast period of 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Canopy Market Scope and Segmentation

Market Definition

A canopy is an overhead roof or structure attached by a metal or fabric covering. The canopy can provide shelter or shade from weather conditions such as snow, sun, hail, and rain. Canopies are used for gardens, shelters, events, and portable ones for garages.

Global Canopy Market Dynamics

Drivers

• Growing demand of canopies in residential and non-residential activities

The growing penetration of canopies in several residential and non-residential activities is expected to boost the market growth rate. Increasing installation of canopy in numerous commercial and residential buildings to protect against precipitation, wind and heat drives the demand of the global canopy market. Also, the rising residential sector in developed countries and the growing trend to expanded urban areas offered by the canopies are expected to accelerate the expansion of the canopy market.

• Rising demand for portable canopy

One of the most significant benefits of the portable canopy includes transportation. Most portable canopy are lightweight, making it easier to move from one location to another. The portable factor of canopy makes a trip easy. Also, a folding canopy usually comes with a carry bag. Portable umbrellas with carry bags are perfect for parents or people needing both hands. A portable canopy is perfect for every customer. A folding canopy makes transporting shade easier. The rising demand for portable canopy is expected to drive the market's growth rate.

Opportunities

• Notable developments in terms of market players

In the recent past, there have been some promising and innovative developments in the global canopy market. For instance, Lanmodo Car Umbrella is the newest innovation in the market of car canopy. It is an open-ended umbrella that can be used everywhere and not just in a house’s yard like the traditional ones. That means it allows for temperature control, perfect sunshade, whenever and wherever. It is automatic, so very easy to use, and it is built in a way that improves air circulation.

Furthermore, a growing number of innovations in designing pf product along with rapid urbanization are some other major factors that will further generate several opportunities for the growth of the canopy market during forecast period of 2022-2029.

Restraints/ Challenges

• High cost associated with canopy

In the manufacturing of certain types of canopies, high costs are required. The steep expenses might be essential to carry out the advanced activities for the same. From a cost-based perspective, these factors considerably hamper the growth of the global canopy market.

This canopy market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the canopy market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Canopy Market

The Covid-19 pandemic significantly negatively impacts the growth of beach umbrella due to a drop in consumer demand which decreases the supply of the beach umbrella in the market. The shutdown of the outdoor and beach places has negatively impacted the beach umbrella Market growth rate. Due to no availability of raw material and the restriction of labor movement in several countries, during pandemic decrease the manufacturing rate of the beach umbrella drastically the manufacture of beach umbrella has gone down drastically.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Canopy Market Scope

The canopy market is segmented on the basis of material, application and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Material

• Polytetrafluoroethylene (PTFE)
• Ethylene Tetrafluoroethylene (ETFE)
• Polyvinyl Chloride (PVC)
• Polyester Cloth
• Others

Application

• Shade Canopy
• Event or Large Canopy
• Others

 End-Use

• Residential
• Non-Residential

Canopy Market Regional Analysis/Insights

The canopy market is analysed and market size insights and trends are provided by country, material, application and end-user as referenced above.

The countries covered in the canopy market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

North America dominates the canopy market in terms of market share. This is due to the rising demand of the product in residential sector along with easy availability of extensive range of product in this region.

Asia-Pacific is anticipated to be the fastest developing region during the forecast period of 2022-2029 due to the growing demand of the product in commercial sector such as in China, and Australia in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Canopy Market Share Analysis

The canopy market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to canopy market.

Some of the major players operating in the canopy market are:

• HDT Global (U.K.)
• AKS Industries, Inc. (U.S.)
• CAMSS SHELTERS (U.S.)
• Eureka! Expeditionary Systems (U.S.)
• Federal-Fabrics-Fibers, Inc. (U.S.)
• Weatherhaven Global Resources Ltd. (U.S.)
• Shelter Tent Manufacturing Co Ltd (China)
• Marshall of Cambridge (Holdings) Limited (U.K.)
• Losberger De Boer (France)
• HTS TENTIQ GmbH (Germany)
• Zeppelin GmbH (Germany)
• Super Structures Worldwide (U.S.)
• Kratos Defense & Security Solutions, Inc. (U.S.)
• General Dynamics Corporation (U.S.)
• AAR (U.S.)
• DHS Systems (U.S.)

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