50% of Window Blinds Sales to Occur across Residential Sectors: Fact.MR Report
Published : 22 Oct 2021 Industry: Consumer Goods
The global window blinds market is forecast to experience a modest CAGR of 4.4%, reaching US$ 4 Bn by the end of the 2021-2031 assessment period, according to a recently published report by Fact.MR. Mounting concerns regarding sustainability in global construction practices is prompting service providers to emphasize on building insulation, thus stimulating demand.
From 2016-2020, window blinds sales expanded at a CAGR of approximately 5%, reflecting the ever widening trend of incorporating advanced insulation practices. However, during the height of the pandemic crisis, growth prospects took a backseat, given the significant decline in housing projects in the wake of strict lockdowns. Prospects have gradually begun to incline since Q4 2020.
Future growth of the market for window blinds is reliant on the ever widening popularity of green buildings. In line with the decarbonization commitment undertaken at the Paris Agreement, construction companies are incorporating green building projects, emphasizing on equipping new complexes with insulating blinds, curtains and coverings, which would result in 20% cost savings with regards to heating, and yielding 40% lesser carbon emissions.
Key Takeaways from the Market Study
- Roll-up blinds to remain most popular selling product, contributing around 40% revenue
- Demand for window blinds for residential buildings to contribute 50% revenue
- By window pane operation, electrically operated blinds to be most preferred, growing at 5% CAGR
- North America to account for more than 1/3rd revenue share in the global window blinds market
- Europe to be the largest contributor to global revenue shares, capturing half of the total market
- South Asia to emerge as the fastest growing market, clocking a CAGR of 5.5%
“Existing residential and commercial complex owners are reinforcing their commitment towards sustainability, prompting them to undertake internal renovation activities, impelling deployment of insulating and energy saving window blinds,” says a Fact.MR analyst.
Prominent manufacturers are reliant on such expansion strategies as acquiring existing small-scale market players, launching new products and forging collaborations with notable manufacturers. Prominent developments in the industry are as follows:
- In January 2021, Springs Window Fashions declared its intent to purchase B&C International, one of Europe's major window treatment providers. B&C makes custom and ready-made window treatments under the Bece, Decosol, and private label brands in the Netherlands.
- In 2018, Hunter Douglas Inc. launched a revolutionary blackout technology- the Dutette® LightLockTM system, which is engineered to prevent light leakage at the window. These honeycomb shaped shades use unique U-shaped side channels which overlap the front and back shades.
More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global window blinds market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.
The study indulges essential insights on the market on the basis of product type (horizontal blinds, vertical blinds, roman blinds and roll up blinds), window pane operation (manually operated blinds and electrically operated blinds), application (residential, commercial and industrial) and sales channel (hypermarkets/supermarkets, specialty stores, independent retailers and online stores) across seven regions (North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa).
Fact.MR’s Domain Knowledge in Consumer Products
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned consumer products team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analyzed the consumer goods industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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Sr. Consultant - Consumer Products