Awnings & shades

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  • Industry Outlook: Awnings and canopies

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    Fabric suppliers and end-product manufacturers will see an overall drop in sales revenue in 2009 due to the slow U.S. economy, tight credit conditions and a retrenchment in spending by customers. In fact, in an IFAI survey in November 2008, only 35 percent of suppliers and manufacturers reported a favorable outlook for sales growth in 2009.

    Prices for fabric will continue to increase. There is still a strong need to increase consumer awareness of awnings and their direct benefits, especially in energy savings. Growth in the awnings market is strong in certain areas of the United States, while other areas are suffering more from current economic conditions. Consolidation of companies will increase as weaker firms either go out of business or are acquired by stronger firms. This will lead to fewer players competing for the same-or possibly decreasing-pool of potential customers, who may be looking to scale back their own expenditures in 2009.

    Creativity and the use of innovative materials and technologies will reward those market players who increase their value proposition to their customers in 2009. If the economic climate begins to improve in the second half of 2009, suppliers, manufacturers and customers should begin to gain confidence in the economy, which will help to spur growth for the awning and canopy market in the last six months of 2009 and beyond.

    From the 2009 State of the Industry Report. Purchase a complete report at the IFAI Bookstore.