Global Canopy Market Share Will Cross USD 2.73 Billion By 2032 & CAGR of 3.5%

Canopy Market Size Worth $2.73 Billion By 2032 | CAGR: 3.5%


The global canopy market size is expected to reach USD 2.73 billion by 2032, according to a new study by Polaris Market Research. The report “Canopy Market Share, Size, Trends, Industry Analysis Report, By Material (PTFE, ETFE, PVC, Polyester Cloth, Others); By Application (Shade Canopy, Event or Large Canopy, Others); By End-use; By Region; And Segment Forecasts, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The demand for canopies is anticipated to increase due to the provision of expanded outdoor space for seating and recreational purposes resulting from the installation of canopies in nearby residential and non-residential buildings. This trend reflects the growing preference for utilizing outdoor areas for various activities, creating a need for structures like canopies to enhance the functionality and comfort of these spaces.

The growth of the market is expected to be complemented by the increasing penetration of canopies in both commercial and residential sectors. This trend is driven by the growing installation of canopies in residential areas and atop various commercial buildings, serving as protection from heat, wind, and precipitation. The popularity of PTFE canopies is noteworthy, as they offer superior weather resistance, thermal stability, and high durability, making them a preferred choice for various applications.

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Canopies are chosen not only for their functional benefits but also for the aesthetic appeal they bring to a space. The robust growth of the residential sector in North American economies, coupled with the increasing trend of enhancing living spaces through beautification using canopies, is expected to drive market growth. Additionally, the rising popularity of inside-outside living concepts and the diverse range of product designs tailored for residential buildings are likely to contribute to an increased demand for canopies in this region.

Key players in the industry distinguish themselves by offering an extensive array of products coupled with well-suited designs and innovative technologies, providing a competitive advantage. The competition among these players often revolves around the ability to provide customized designs that precisely match the requirements of end-users. Various materials such as PTFE, ETFE, PVC, glass, wood, and different metals can be utilized to craft products that seamlessly align with the specific installation needs of the designated area. This emphasis on customization and material versatility allows manufacturers to cater to a diverse range of customer preferences and project specifications.

Canopy Market Share, Size, Trends

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Canopy Market Report Highlights

  • The PTFE segment accounted for the largest share, as they are well suited for extreme weather and are easy to use
  • The non-residential segment dominated the market, as there is a surge in demand for architectural aesthetics in private spaces
  • Europe held the largest share on account of the surge in demand for urban spaces with recreation and adventure activities
  • APAC will grow at a rapid pace, primarily due to a rise in commercial outlets such as hotels, lodges, and restaurants
  • The global players include Eide Industries, SUNAIR AWNINGS, Shade Structures, Canopies UK, Lawrence Fabric, Impact Canopies USA, and KD KANOPY.  

Polaris Market Research has segmented the canopy market report based on material, application, end-user, and region:

Canopy, Material Outlook (Revenue - USD Billion, 2019 - 2032)

  • PTFE
  • ETFE
  • PVC
  • Polyester Cloth
  • Others

Canopy, Application Outlook (Revenue - USD Billion, 2019 - 2032)

  • Shade Canopy
  • Event Tent or Large Canopy
  • Others

Canopy, End-Use Outlook (Revenue - USD Billion, 2019 - 2032)

  • Residential
  • Non-residential

Canopy, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
  • Latin America
    • Argentina
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Israel
    • South Africa

Canopy Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 2.08 billion

Revenue Forecast in 2032

USD 2.73 billion

CAGR

3.5% from 2024 – 2032

Base year

2023

Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD billion and CAGR from 2024 to 2032

Segments Covered

By Material, By Application, By End Use, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Customization

Report customization as per your requirements with respect to countries, regions, and segmentation.

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Request for Customized Report

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  • Regional analysis
  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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