Outdoor Umbrellas Market Size, Share, Growth, Trends, Global Industry Analysis, By Type (Centre Pole Umbrellas, Offset Pole Umbrellas, And, Wall Mounted Umbrellas) By Application (Commercial, And Residential), Regional Forecast From 2024 To 2032

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Outdoor Umbrellas Market REPORT OVERVIEW

The global outdoor umbrellas market size was valued at USD 0.93 billion in 2023 and is projected to touch from USD 1.0 billion in 2024 to USD 1.75 billion by 2032, exhibiting a CAGR of 7.4% during the forecast period. North America is dominating the outdoor umbrellas market share in 2023.

Outdoor umbrellas are different types of umbrellas that are mainly used in gardens, outdoor places, and even on beaches. They are not used for the normal purpose. They can be seen mainly outdoors and are widely used during picnics and field trips.

There have been several developments and discoveries in this field. These advancements have led to the development of the industries. New types of outdoor umbrellas are now the latest trends in the market. These are made up of better-quality materials. They are also available in different sizes and shapes. Some of them are even foldable and can be carried from one place to another easily. This is identified as the latest trend in the market.

The increasing urbanization and changing lifestyle of people has increased the market growth. Also, the usage of these umbrellas in hotels, resorts and also individual residencies has increased the market share for the product. These act as the factors driving the market growth.

COVID-19 impact: Lockdowns and Strict Restrictions Reduced the Market Growth

COVID-19 was one such deadly disease that affected the entire world and all the industries. The outdoor umbrellas industry also became a victim of the pandemic. During COVID-19 there were many restrictions and lockdowns that were imposed. This became a major backdrop for the outdoor umbrellas market growth.

During the lockdown there was a significant decrease in the production of these umbrellas. With the low production there was a dip in the sales of this product as well. Along with this, the disruption in the supply chain and unavailability of raw materials heavily affected the market growth. This considerably brought down the demand for the product causing a decrease in the market share.

This was the major reason for the downfall of the outdoor umbrellas market share during the pandemic. However, post the pandemic the market recovered quickly and is anticipated to grow well in the upcoming years.

LATEST TRENDS

"New Types of Outdoor Umbrellas to Increase the Market Growth"

Many creative and innovative changes are being witnessed in the above market recently. New types of outdoor umbrellas are being launched these days that have various applications in different fields. These umbrellas are extensively being used everywhere especially during trips and picnics.

New types of outdoor umbrellas are now the latest trends in the market. These are made up of better-quality materials. They are also available in different sizes and shapes. Some of them are even foldable and can be carried from one place to another easily. This has drastically increased the market share for these umbrellas and they are in great demand all over the world.

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Outdoor Umbrellas Market SEGMENTATION

• By Type:

The market can be divided on the basis of type into the following segments: Centre pole umbrellas, offset pole            umbrellas, and, wall mounted umbrellas. The centre pole segment is anticipated to dominate the market during the forecast period.

• By Application:

Classification based on application into the following segment: Commercial, and residential. The commercial segment is predicted to dominate the market during the research period.

DRIVING FACTORS

"Increasing Urbanization and Lifestyle Changes to Fasten the Market Growth"

The outdoor umbrellas industry has seen a robust growth and expansion in the recent days especially after the pandemic period. Many reasons have contributed to this expansion. The major factor being the increasing urbanization and changing lifestyle of people. This has become the major factor driving the market growth.

During the pandemic there was a drastic decrease in the outdoor activities. People stayed at home and were not encouraged to move from place to place. However, after the pandemic when all the restrictions were taken away people started going on more trips and picnics. There was also a major shift in the lifestyle of the people. The increasing urbanization has also made way for the development of the industry. All of these have collectively led to the increase in the outdoor umbrellas market growth.

"Increasing Implementation of Outdoor Umbrellas to Propel the Market Growth "

Recently the outdoor umbrellas or patio umbrellas are increasingly being used or implemented in various places. This has increased the demand for the product. The changing lifestyle of people and increased outdoor activities has promoted the increase in this demand.

Also, the usage of these umbrellas in hotels, resorts and also individual residencies has increased the market share for the product. Attractive and cost-effective umbrellas are also being manufactured these days. All of these factors are prone to bring vast growth opportunities for the market in the upcoming years.

RESTRAINING FACTOR

"Competition Between the Key Industry Players to Decrease Market Growth"

Recently there has been a lot of competition between the key industry players. The increasing competition can reduce the market growth. Many new companies are also coming up. However, the important players of the industry have occupied the market share. This acts as a major restraining factor for the industry. With the presence of big companies, small ones find it difficult to establish their presence in the market. This can act as the major restraining factors deteriorating the market growth.

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Outdoor Umbrellas Market Regional Insights

"North America to Dominate the Outdoor Umbrellas Market in The Upcoming Years"

The region that predominantly dominates the market is North America. It holds the largest market share generating high revenue and profits. The next region that occupies a good market share is Asia Pacific. Many reasons have contributed to the growth of the market in the region. The increasing urbanization, improved technology, growing interest for outdoor activities and considerable change in the lifestyle of people has contributed to the market growth in North America.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

LIST OF TOP Outdoor Umbrellas COMPANIES

• MakMax Australia`(Australia)
• UltraShade Umbrellas (U.S.)
• Tropicover (Australia)
• Flexshade (Singapore)
• Skyspan Umbrellas (U.S.)

Report Coverage

The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations