Pune, India, Feb. 10, 2022 (GLOBE NEWSWIRE) -- The global window covering market size was USD 10.83 billion in 2020. The market is projected to grow from USD 12.42 billion in 2021 to USD 17.43 billion in 2028 at a CAGR of 4.96% in the 2021-2028 period. This information is provided by Fortune Business Insights, in its report, titled, “Window Covering Market, 2021-2028.”
According to our expert analysts, the demand for residential and commercial buildings has expanded dramatically as the growing number of countries rises, which is a primary driver for the window covering market growth. Window coverings come in a broad variety of materials, colors, textures, and styles, which appeal to potential clients. The demand for blinds and shades will continue to rise as the demand for workspaces, hotels, and other social structures grows. Blinds and shades, for example, can change the amount of light and heat that passes through a window depending on the situation.
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List of Key Players Mentioned in the Window Covering Market Report:
- Hunter Douglas N.V. (Rotterdam, Netherlands)
- Comfortex Window Fashions (New York, U.S)
- Lafayette Interior Fashions (Indiana, U.S.)
- Insolroll Window Shading Systems (Louisville, U.S.)
- Polar Shades Sun Control (Las Vegas, U.S.)
- The Shade Store, LLC (New York, U.S.)
- Decora Blind Systems Ltd (Lisburn, U.K.)
- Norman International Inc. (California, U.S.)
- Coulisse (Eindhoven, Netherlands)
- LOUVOLITE (Manchester, U.K.)
COVID-19 Impacts:
Supply Chain Disruption to Hamper Market Growth
COVID-19 had an impact on window covering sales in the second quarter of 2020, as the demand for window coverings fell dramatically due to construction activity limits. Due to the global outbreak, the window coverings sector has been forced to shut down production of a variety of items. This has slowed the growth of the market in recent months, and it is expected to continue in 2021. Due to the decreasing demand during the pandemic, major real estate players reduced the development of residential and commercial structures.
Segmentation:
Based on type,
- Blinds
- shades
- shutters
On the basis of technology
- manual covers
- smart covers
On the basis of application
- Residential
- commercial
On the basis of distribution channel
- online
- offline
By geography
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
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Report Coverage:
The report covers insights concerning growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, and product launches linked to the market. The report covers company profiles of the top companies working in the market, their respective profits and operating segments, geographical reach, market footmark, headquarters, growth rates, recent developments, products, growth strategies, and investments in expansion.
Drivers:
Presence of Prominent Players to Stimulate Growth
Numerous players in the home furnishing industry have increased their efforts to leverage the business potential in the window covering market in recent years, owing to rising consumer interest in novel window blinds. For example, IKEA, a Swedish furniture retailer, announced in February 2019 that it would launch its new air-purifying Gunrid drapes. A photocatalyst mineral was included in the fabric to break down pollutants during the day, reducing the danger of harmful emissions entering a home. IKEA collaborated with institutions in Asia and Europe to create the GUNRID technology.
Regional Insights:
North America is expected to dominate the window covering market share. The growing number of smart houses and increasing penetration of smart technology in households in the U.S. and Canada are surging the demand for window curtains and drapes for interior spaces in the North America market. Smart home devices are becoming more common in most American households, according to a Value Penguin poll of 1,000 people done in September 2020. According to the study, 65% of Americans own a smart gadget, which they use for a variety of purposes.
The increased popularity of natural/environment-friendly goods is driving the expansion of the Europe window covering market. The U.K., Germany, and France are the top importers of ecologically friendly or natural window curtains and drapes in Europe. Companies benefit from supplying bespoke and unique 'Made in Germany' window coverings since Germany is one of the major European markets, and the trend of relaxed living is gaining traction among Germans. Window curtains and drapes are primarily sold in Europe's middle and lower market sectors.
Competitive Landscape:
Companies Adopt Strategic Acquisition to Improve Market Position
Major corporations are focusing on cooperating with other companies to expand their product portfolio in window coverings, fragmenting the global market. Furthermore, other prominent competitors are expected to promote the market growth by implementing tactics such as mergers and acquisitions, new product invention, and facility expansion.
Industry Developments:
October 2020: Universal Remote Control, Inc., a smart home automation company based in the U.S., teamed up with Somfy Systems Inc. to develop integrations between Total Control, Universal Remote Control's commercial and residential automation platform, and TaHoma, a single platform for Zigbee 3.0 radio connectivity and Radio Technology Somfy Systems Inc. (RTS). The goal of the collaboration was to make it easier to control Somfy Systems Inc's curtains, blinds, and shades using Universal Remote Control's control solutions.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunity
- Key Insights
- Overview of the Parent/Related Market
- Industry SWOT Analysis
- Qualitative Analysis Related to COVID-19
- Impact of COVID-19 on the Market
- Supply Chain Challenges amidst Pandemic
- Potential Opportunities due to this Global Crisis
- Global Window Covering Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type
- Blinds & Shades
- Shutters
- Curtains & Drapes
- Others
- By Technology
- Manual Covers
- Smart Covers
- By Application
- Residential
- Commercial
- By Distribution Channel
- Offline
- Online
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Type
TOC Continued…!
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