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North America Awnings Industry Survey and 2024 Future Outlook

High level of customization coupled with rising application scope in residential and commercial sectors is expected to propel growth. Furthermore, rising penetration of motorized retractable products in the residential sector is expected to augment demand over the forecast period. North America Awnings Market is expected to reach USD 3.64 billion by 2024, according to a new report by Grand View Research, Inc. The industry is characterized by a large number of local manufacturers and distributors owing to the region-specific products. Fabric awnings are primarily used in tropical areas owing to its high aesthetic appeal and improved functionality. Fabrics are the most widely used material in manufacturing awnings. These products accounted for 85% of the overall market in 2015; this is attributed to the utilization of the product in manufacturing retractable awnings. However, limitations of fabric awnings during heavy snowfall are likely to restrict growth. Retractable awning wa...