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Factors responsible for sustained market growth in the North America awnings market include development of remote control assistance, integration of various sun and wind sensors, and products innovation.
Regionally, the North America awnings industry is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest in research and development for the awnings industry.Increasing adoption of the stationary awnings for various commercial applications and growing demand form hotels, resorts, and retail stores for low cost and high strength stationary awnings, are expected to drive the growth of North America awnings market over the forecast period.
Additionally, vast competition in the market has led to development of innovative products, thereby propelling market growth, in the recent years.
The recent advancement in buildings & construction sector coupled with development of the novel products are anticipated to foster market expansion over the forecast period.However, higher initial cost and lack of availability of skilled labor force are some of the major challenges for sustained growth.
Easy induction of stable fabric and heavy-metal awnings for doors and frames is projected to favor market growth in the upcoming years.
Numerous application of awnings for retail store, hotels, restaurants, and cafés are expected to offer lucrative growth opportunities industry players in years to come.The North America awnings industry is broadly categorized into two major segments based on the products types such as retractable segment and stationary metal segment.