May 15, 2019
Window Blinds Sales Surge in Line with Home Remodeling & Renovation Activities, finds Fact.MR
by Team Fact.MR
According to a recent Fact.MR study, window blinds sales are estimated to exceed 110 million units in 2019. The window blinds industry continues to be influenced by a range of factors, such as increasing home renovation and remodeling activities, complemented by growing focus on revamping the aging infrastructure. The study analyzes the window blinds market in detail, and offers readers a thorough analysis of macroeconomic and industry-specific factors impacting the market growth.
According to the study, home improvement activities significantly contribute to growth of the window blinds industry. LIRA, the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University finds that, in the US alone, remodeling activities are witnessing a significant rise, as elevating real-estate prices hold majority of consumers from making new property investments, directing their focus toward maintenance and renovation activities instead. This, coupled with the advent of eco-friendly and recyclable materials such as jute and bamboo with the focus on sustainability among industry players and consumers alike, has been favoring sales of window blinds.
Roll Up Blinds Sales Surge with Introduction of Patterned Designs
The study finds that consumers continue to show a marked preference for roll up blinds. Worldwide sales of roll up blinds reached nearly 40 billion units in 2018, and are expected to register a Y-o-Y growth of 3.6% in 2019. Apart from the benefits of easy operations, low maintenance requirements, and a variety of convenient installation options, the introduction of patterned products continues to augur well for sales of roll up blinds.
Manually operated window blinds continue to account for a sizeable share of the market, with sales of over 70 million units in 2018. However, the Consumer Product Safety Commission (CPSC) and Window Covering Safety Council (WCSC) have associated these blinds with several hazards, raising awareness among consumers, which in turn has been impeding adoption of manually-operated variants. This has favored well for sales of electronically operate window blinds, particularly in developed markets where the number of smart home projects are witnessing a significant rise, abreast robust adoption of home automation systems.
According to the study, North America remains the leading market for window blinds, with sales in 2018 estimated at 32,500 million units. Rapid adoption of home automation systems in developed economies, and recent rise in popularity of the electronically operated blinds that sync well with the upward trend of smart homes, are key aspects favoring growth of window blinds market. Economic vigor of consumers in North America has further complemented the adoption of various indoor space treatment solutions. Improving the management of natural light’s permeation into rooms has become one of the key priorities of homeowners, which in turn has rubbed off on adoption of window blinds.
The study finds that South Asia will continue to be an attractive market for window blinds, estimated to record a Y-o-Y growth at over 5.0% in 2019 over 2018. Rapid urbanization, along with increasing disposable income of the growing middle-class population, are key macroeconomic trends complementing growth of window blinds market in the region. Additionally, independent retailers account for relatively larger sales of window blinds, with over 45% share in 2018. Gains also remain significant from hypermarkets or supermarkets and specialty stores, which collectively account for nearly one-third sales, according to the study.
Fact.MR’s study also offers a long-term forecast of the window blinds market for the period between 2018 and 2028. The window blinds market is projected to register a volume CAGR of approximately 4.0% through 2028.