Considered getting a retractable awning for your home? Learn how it can add value to your space in this post.
Buying a retractable awning is a big investment. While cheaper awnings are priced at around $500, some of the best rated retractable awnings can cost about $2,000 or more before deciding to buy retractable awnings, it’s better to know how it operates and why people are using them.
The immense popularity behind retractable awnings due to their UV function is only the beginning of its benefits. Apart from maintaining the indoor temperature, retractable awnings are also helping in reducing costs when it comes to indoor power consumption. A folding arm awnings are one of the most versatile and functional shading options for homes and businesses.
That being said, the increasing commercial and residential sectors are providing a boon for the people involved with manufacturing the retractable awnings.
One report by FactMR revealed growth prospects of the market along with the projections in relation to the supply and demand scenario. Based on their report, the retractable awning has a compound annual growth rate of 6.7% concerning the value within the 2018-2028 period.
During that ten year period, the demand for retractable awnings will reach its peak in sales volume. And why is this happening? We’ll explain further throughout this post!
Retractable Awnings Pay For Themselves
Most homeowners buy retractable awnings because of the shade they give over decks.
Sure, the initial cost of buying a retractable awning can be rather steep. However, they save the homeowner money because of the shade it provides to the house’s interior. As a result, the air conditioners don’t have to use too much effort to cool off the home. Over time, this can lead to more significant savings.
Longer Lifespan
While some homeowners like nonretractable awnings because they’re inexpensive, they have a higher chance of being damaged in rough weather. For instance, during wind storms, your retractable awning can be folded up to keep it safe and secure.
The nonretractable ones are easily ton and are exposed to wind. Over time, the exposure to the sun can stain the fabric on the awning, which means that the ones that aren’t retracted will start to fade faster.
Furnishing Protection
Awnings are a good way for protecting your outdoor furniture. However, you might not realize that it can also protect indoor furniture as well. Giving shade to specific areas in your house means that the fabrics and furniture that’s normally exposed to the sun are no longer subjected to its bleaching effect or drying out.
Knowing that fabrics are used to block UV rays, the best rated retractable awnings have advanced material that reflects its effectiveness and high durability. Because of this, fabrics with self-cleaning technology has been in development.
Also, there are developments in coating technologies that are currently being researched to to improve the cleanability and durability of the fabric. In fact, there are some retractable awnings that allow the user to adjust the opacity of the awning via smartphone technology.
Conclusion
With its high potential for growth, retractable awnings are starting to become the standard for modern homes. Due to its improved material and advanced features, it’s able to back up its popularity with the quality it provides. Ultimately, the best rated retractable awnings will become highly demanded by new homeowners the longer they are in the market.
Sources:
- https://dailyindustryupdates.com/10148/global-retractable-awnings-market-to-experience-significant-growth-during-the-forecast-period-2018-2028/
- https://www.nytimes.com/2007/07/15/realestate/15home.html
- https://awningsouth.co.uk/blog/5-benefits-retractable-awnings/
