Pune, India, Sept. 26, 2022 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, the global blinds and shades market size was valued at USD 5.83 billion in 2021 and USD 6.12 billion in 2022. The market is expected to reach USD 8.76 billion by 2029 with a CAGR of 5.27% during the forecast period. Rising preference for fireproof window treatments is expected to trigger a positive market pathway. Increasing adoption of sustainable widow treatments is estimated to propel market trajectory. Rising popularity of smart products is propelling the market growth of blinds and shades, which is expected to aid market development. Fortune Business Insights™ shares this information in its report titled "Blinds and Shades Market, 2022-2029."
Supply Disruptions During Pandemic Led to Negative Market Growth
The COVID-19 pandemic negatively impacted the shades and blinds market growth due to disruptions in supply chains. The recovery of the market is characterized by increasing number of sales across various countries.
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Blinds and Shades Market Report Scope & Segmentation:
|2029 Value Projection||USD 8.76 Billion|
|Blinds and Shades Market Size in 2021||USD 5.83 Billion|
|No. of Pages||169|
|Segments Covered||By Type, By Application, By Region|
|Blinds and Shades Market Growth Drivers||Increasing Adoption of Green/Environment-friendly Window Treatments to Drive the Market Growth|
|Rising Popularity of Smart Products to Favor Market Expansion|
Fortune Business Insights™ lists out all the blinds and shades market companies that are presently striving to reduce the impact of Covid-19 pandemic on the market:
- Hunter Douglas N.V. (Netherlands)
- Springs Window Fashions (U.S.)
- Insolroll Window Shading Systems (U.S.)
- Polar Shades Sun Control (U.S.)
- The Shade Store, LLC. (U.S.)
- Decora Blind Systems Ltd (Ireland)
- Norman Window Fashions (U.S.)
- Mac Blinds (India)
- Johnson Blinds (India)
- Vista (India)
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Drivers and Restraints
Increasing Adoption of Environment-friendly Window Treatments to Surge Product Demand
Increasing adoption of environment-friendly window treatments is leading to surge in demand for the product, which is projected to drive the blinds and shades market growth. There has been a rise in green buildings globally, which has propelled the demand for sustainable coverings and is expected to drive the market. Rising concern over energy efficiency and consumption in buildings in the coming period is also surging the product demand. Such factors are giving rise to development of innovative and maintenance-free blinds & shades.
However, presence of various alternatives of window treatments is anticipated to hinder market development.
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Blinds Segment to Lead Owing to Increasing Number of Installations
On the basis of type, the market is segmented into blinds and shades. The blinds segment is expected to be the key part due to hard materials used such as aluminum, wood, and polyvinyl chloride (PVC). Blinds have been witnessing a high demand due to increasing number of installations in hallways of the residential sector.
Residential to be Prime Part of the Segment Due to High Demand
On the basis of application, the market is segmented into residential and commercial. Residential segment is growing due to the product demand in residential applications in Asian countries. Product categories, such as metal and vinyl vertical and horizontal blinds, are employed in rental housing. The residential segment is anticipated to grow at a CAGR of 5.76% during the forecast period.
Based on geography, the market is categorized into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Rеаѕоnѕ to Get thіѕ Rероrt:
- A qualitative and quantitative market study based on segmentation that includes both economic and non-economic factors
- Data on market value for each section and sub-segment
- Indicates the region and market segment that is likely to expand the fastest and dominate the market.
- The consumption of the product/service in each region is highlighted, as are the factors affecting the market within each region.
- The competitive landscape includes the top players' market rankings, as well as new service/product launches, collaborations, company expansions, and acquisitions made by the companies profiled in the last few years.
North America to Dominate Owing to Increasing Number of Manufacturers in the Market
North America is expected to lead the blinds and shades market share owing to increasing number of manufacturers operating in the market. Companies have been offering functional, well-designed, and high-quality home furnishings to consumers. Key market players have been focusing on providing eco-friendly and energy-efficient window coverings in the region.
Europe is also expected to have a significant CAGR owing to rising adoption of environment-friendly windows across the region. The market stood at USD 1.80 billion in 2021.
Asia Pacific is also anticipated to have a moderate growth due to rapid urbanization across countries such as Singapore and India.
Innovative Product Launches by Market Leaders to Set a Positive Market Pathway
Key players of the market have used new product launches to gain market grip. In July 2020, Hunter Douglas N.V. launched its new line of shades under the brand of Pirouette Clearview Shadings for providing light control with modern shades and unhindered outside view. International players are expected to offer innovative products during the forecast period to establish a strong consumer base.
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Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview of the Parent Market
- Industry SWOT Analysis
- Supply Chain and Regulatory Landscape
- Fire Retardant Blinds & Shades: Trends & Recent Innovations
- Fire Retardant Blinds and Shades Market Snapshot
- Differences Between Pleated Blinds/Shades, Roller Shades/ Blinds, and Other Blinds/ Shades
- Ideal/ Preferred Size Requirements & Need for Black Out Blinds & Shades
- Material Preferences: Plastic/ Non-woven Fabric/ Woven Fabric
- Popular Environmental, Social, and Governance (ESG) Activities/ Efforts
- Popular Blinds & Shades Trends in 2022
- Major Machines Used in the Industry
- Market Analysis and Insights (in Relation with COVID-19)
- Impact of COVID-19 on the Market
- Supply Chain Challenges due to the Pandemic
- Potential Opportunities to Support the Market
- Global Blinds and Shades Market Analysis, Insights and Forecast, 2018-2029
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- By Market Analysis, Insights and Forecast – By Application
- By Market Analysis, Insights and Forecast – By Region
- North America
- Asia Pacific
- South America
- Middle East & Africa
Key Industry Development
- July 2020: Hunter Douglas N.V introduced PowerView AC and PowerView+. The new products are the premium automated shading control systems.
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Frequently Asked Questions (FAQs):
1. How much is the global blinds and shades market worth?
Answer: Fortune Business Insights says that the global market size was USD 5.83 billion in 2021 and is anticipated to reach USD 8.76 billion by 2029.
2. What was the value of the market in 2021?
Answer: In 2021, the market value stood at USD 5.83 billion.
3. At what CAGR is the market projected to grow in the forecast period (2022-2029)?
Answer: Ascending at a CAGR of 5.27%, the market will exhibit steady growth over the forecast period (2022-2029).
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