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Source Link: Verified Market Research
Description: This image provides a segmentation analysis of the window covering market. It highlights the different segments within the market and their respective shares. This information is crucial for understanding the market dynamics and identifying potential opportunities in the commercial window coverings sector.
Source Link: Verified Market Research
Description: This image presents the market size and forecast for the window covering industry. It provides insights into the expected growth and opportunities in the commercial window coverings market. This information can be valuable for businesses looking to invest in this sector or expand their operations.
Source Link: Verified Market Research
Description: This image showcases the key developments and mergers in the window covering market. It highlights the strategic moves and partnerships that have taken place in the industry. This information can help businesses stay updated with the latest trends and make informed decisions regarding commercial window coverings.
Source Link: Verified Market Research
Description: This image provides an overview of the window covering market, including its size, growth rate, and competitive landscape. It offers a comprehensive analysis of the market dynamics and trends that impact the commercial window coverings sector. This information can be useful for businesses looking to enter or expand in this market.
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The global window coverings market is expected to grow at a compound annual growth rate (CAGR) of 7.9% from 2023 to 2030, reaching a market size of USD 60.16 billion by 2030. The market was valued at USD 32.76 billion in 2022. The market is primarily driven by strong economic growth and increasing consumer disposable income, which has led to regular changes in window coverings and other home décor items.
The outbreak of COVID-19 has led to an increase in home renovations, but bespoke window covering sales have declined due to restrictions on house visits. However, the market has seen the emergence of a sizable DIY industry, which has facilitated affordable home décor renovations. Additionally, advancements in technology, such as sensor-based window coverings and the growth of smart homes, are expected to create long-term growth opportunities in the market.
Smart window solutions, such as connected shades, blinds, and curtains, are gaining popularity due to their ability to improve comfort and convenience while maintaining the right balance of natural and artificial light. For example, Somfy unveiled the Sonesse ULTRA 30 WireFree Zigbee Li-Ion motor, which allows users to control window coverings with a smartphone app, remote control, or voice command.
Artificial intelligence (AI) is also being used to enhance the consumer experience. Bali, a home design firm, offers a visualizer that allows users to see window treatments on their windows by submitting a photo and experimenting with different colors, styles, and privacy levels.
The blinds and shades segment accounted for the largest share of the global revenue in 2022, driven by the ability of new blinds to reduce energy consumption and carbon emissions. The curtains and drapes segment is expected to grow at a CAGR of 8.1% from 2023 to 2030, with high-tech innovations such as solar-blocking curtains and remote-controlled curtains gaining popularity. Traditional craftsmanship is highly valued in the curtains and drapes market, and DIY consumers dominate the window curtain industry.
The residential application segment accounted for over 55% of the global revenue in 2022, driven by an increase in the number of households and rising urbanization in developing economies. The commercial application segment is expected to grow at a CAGR of 8.0% from 2023 to 2030, driven by investments in IT infrastructure standardization and product advancements.
The offline distribution channel accounted for the largest revenue contribution in 2022, with consumers preferring home décor stores for their larger selection of patterns and colors. The online distribution channel is projected to grow at a CAGR of 8.3% from 2023 to 2030, driven by the growth of e-commerce in the home décor industry and the increasing number of online buyers.
The retrofit category led the market in 2022, driven by the trend of renovation and retrofitting in the residential sector. The new construction segment is expected to grow at a CAGR of 7.6% from 2023 to 2030, driven by expanding residential developments and the growth of the commercial construction industry.
Manual window coverings accounted for the majority of the market in 2022, but the automatic category is expected to grow at a faster rate. Smart home automation technologies are becoming increasingly popular, and battery-operated smart window blinds that can be controlled wirelessly are gaining traction.
North America accounted for the largest revenue contribution in 2022, driven by construction spending on public residential buildings in the United States. Asia Pacific is expected to grow at the highest CAGR from 2023 to 2030, fueled by the rapid rise of emerging economies such as India, China, and Australia. Europe accounted for a significant market share, with Germany leading the market due to the growth of the residential and commercial sectors.
Key players in the global window coverings market include Hunter Douglas, Lotusblind, Bombay Dyeing, Insolroll, Mariak, Welspun India Limited, Skandia Window Fashion, MechoShade Systems LLC, Lafayette Interior Fashions, and Comfortex Window Fashion. These companies are focusing on product innovation to enhance their portfolios.
Overall, the window coverings market is driven by factors such as increasing disposable incomes, rising consumer expenditure on home furnishings and decor, advancements in technology, and the growth of the DIY industry. The market is expected to experience significant growth in the coming years, especially in regions such as Asia Pacific.
The global window coverings market is expected to grow at a compound annual growth rate (CAGR) of 7.9% from 2023 to 2030, reaching a market size of USD 60.16 billion by 2030. The market was valued at USD 32.76 billion in 2022. The growth of the market is primarily driven by strong economic growth and increasing consumer disposable income, leading to regular changes in window coverings and home décor items.
The outbreak of COVID-19 has led to an increase in home renovations, as people spent more time at home. However, there was a decline in sales of bespoke window coverings due to restrictions on house visits. On the other hand, the DIY industry saw significant growth as consumers looked for affordable home décor solutions. The market also has long-term growth potential due to advancements in technology, such as sensor-based window coverings and the increasing number of smart homes.
Smart window solutions, including connected shades, blinds, and curtains, are gaining popularity as they improve comfort and convenience. Companies like Somfy are introducing innovative products that allow users to control window coverings through smartphone apps, remote controls, or voice commands. AI is also being used to enhance the consumer experience, with features like visualizers that allow users to see how window treatments will look in their own homes.
The blinds and shades segment accounted for the largest share of the global revenue in 2022, with a 39.9% market share. The development of new blinds with better acoustic features and energy-saving capabilities has contributed to the growth of this segment. The curtains and drapes segment is expected to grow at a CAGR of 8.1% from 2023 to 2030, driven by high-tech innovations such as solar-blocking curtains and remote-controlled curtains. Traditional craftsmanship is also highly valued in the curtains and drapes market.
The residential application segment dominated the market in 2022, accounting for over 55% of the global revenue. The increasing number of households and rising urbanization in developing economies like India and China are driving the demand for window coverings in the residential sector. The commercial application segment is projected to grow at a CAGR of 8.0% from 2023 to 2030, fueled by investments in IT infrastructure standardization and product advancements in the commercial construction industry.
The offline distribution channel, including home décor stores and wholesale markets, accounted for the largest revenue contribution in 2022, with around 85% market share. Consumers prefer offline channels for their wider selection of patterns and colors. However, the online distribution channel is expected to grow at a CAGR of 8.3% from 2023 to 2030, driven by the growing e-commerce industry and the ability to reach a wider audience.
The retrofit category led the market in 2022, with a 57.0% market share. The residential sector's trend of renovation and retrofitting is driving the demand for window coverings. The new construction segment is expected to grow at a CAGR of 7.6% from 2023 to 2030, driven by expanding residential developments and the growth of the commercial construction industry.
Manual window coverings accounted for over 90.0% of the global market revenue in 2022. Companies are incorporating advanced systems for hassle-free operation of shades and offering multiple light filtering options. The automatic category is projected to grow at a CAGR of 9.2% from 2023 to 2030, driven by the increasing popularity of smart home automation technologies.
North America was the largest revenue contributor in 2022, accounting for 39.6% of the global market. The United States witnessed growth in construction spending on public residential buildings, leading to substantial investments in home décor and improvements. The Asia Pacific region is expected to grow at a CAGR of 10.0% from 2023 to 2030, driven by the rapid rise of emerging economies like India, China, and Australia. China accounted for the largest market share in the Asia Pacific region in 2022, attributed to the expansion of the hospitality sector in cities like Shanghai and Guangzhou. Europe accounted for 32.13% of the global revenues in 2022, with Germany leading the market due to significant growth in the residential and commercial sectors.
Prominent players in the global window coverings market include Hunter Douglas, Lotusblind, Bombay Dyeing, Insolroll, Mariak, Welspun India Limited, Skandia Window Fashion, MechoShade Systems LLC, Lafayette Interior Fashions, and Comfortex Window Fashion. These companies are focusing on product innovation to enhance their portfolios. For example, Springs Window Fashions acquired the assets of NuLEDs to strengthen its position in the Power-over-Ethernet (PoE) shade market, and SelectBlinds.com introduced motorized Architect roller shades with new Eve MotionBlinds and Apple HomeKit technology.
Overall, the window coverings market is expected to experience significant growth in the coming years, driven by factors such as economic growth, increasing disposable income, technological advancements, and the growing demand for home renovations and improvements.
North America Window Covering Market Overview
The North America Window Covering Market is expected to experience a steady growth rate of 5.2% CAGR during the forecast period of 2022-2028. Window coverings are essential accessories for standard windows that can be customized to meet specific requirements. These coverings play a crucial role in maintaining comfortable interior spaces in buildings, especially in metropolitan areas with rising temperatures. The demand for window coverings such as curtains, blinds, and shades is driven by the desire to modernize homes, commercial buildings, and offices. The rapidly expanding hospitality industry, including hotels and restaurants, is also contributing to the market growth.
Energy Efficiency and Cost Savings
The widespread use of energy-efficient window coverings offers significant benefits. Window systems account for a significant percentage of annual heating and cooling costs in older homes. Many households are overpaying for their heating and cooling systems, and window attachment solutions have the potential to drastically reduce energy use. In January 2020, Hunter Douglas' cellular shades and cellular roller blinds obtained the first energy performance rating for window coverings from the Attachments Energy Rating Council (AERC) and the United States Department of Energy (DOE). This recognition highlights the potential of energy-efficient window coverings to reduce energy consumption and save costs for households.
Construction Industry and Residential Developments
The construction industry plays a crucial role in driving the demand for window coverings. Public construction spending in North America is projected to be $1,728.6 billion in March 2022, with substantial investments in home décor and home remodeling. The residential building sector is experiencing significant growth, with increased residential developments due to global population growth. Additionally, the commercial construction industry is expanding, further driving the demand for window coverings.
Market Segmentation
The North America Window Covering Market is segmented based on technology, installation, distribution channel, application, type, and country. The technology segment includes manual and automatic window coverings. The installation segment comprises retrofit and new construction. The distribution channel is divided into offline and online channels. The application segment includes residential and commercial sectors. The type segment consists of blinds & shades, curtains, shutters, and others. The market is further segmented by country, including the US, Canada, Mexico, and the rest of North America.
Key Market Players
The key market players in the North America Window Covering Market include Hunter Douglas N.V., The Bombay Dyeing & Manufacturing Company Ltd., Welspun India Limited, Skandia Window Fashions, MechoShade Systems, LLC, Innovative Openings, Inc., Lotus & Windoware, Inc., Lafayette Venetian Blind, Inc., and Newell Brands, Inc. These companies are actively involved in product launches, expansions, and other strategic developments to maintain their market position.
In conclusion, the North America Window Covering Market is expected to witness steady growth driven by factors such as the need for energy-efficient solutions, the growth of the construction industry, and increased residential and commercial developments. The market offers various opportunities for both established players and new entrants to capitalize on the growing demand for window coverings in the region.
Source:
North America Window Covering Market Size, Share & Industry Trends Analysis Report By Technology, By Installation, By Distribution Channel, By Application, By Type, By Country and Growth Forecast, 2022 - 2028. Retrieved from source link
The Window Coverings Market is valued at USD 25.19 Billion in the current year and is expected to reach USD 33.29 Billion in the forecast year while registering a CAGR of 4.76% during the forecast period. The need for energy-efficient window coverings in residential and commercial buildings is credited with this growth. The market is divided into sections for solar screens, window blinds, and curtains and drapes. Window blinds are the second most popular window covering after curtains and drapes.
The need for energy-efficient window coverings in residential and commercial buildings is driving the growth of the window coverings market. As homeowners and businesses become more conscious of their energy consumption, they are seeking window coverings that can help regulate the temperature inside their spaces. Energy-efficient window coverings can reduce heating and cooling costs by preventing heat gain in the summer and heat loss in the winter. This increased demand for energy-efficient solutions is expected to drive the market growth during the forecast period.
With rapid urbanization worldwide, homes are being adapted and re-designed to hold communal and private spaces that follow the concept of shared living. This trend has created new opportunities for vendors in the window coverings market, as there is a growing demand for window coverings in both residential and commercial sectors. Interior shutters, blinds, and shades are leading the market, as they offer privacy and control over natural light while also enhancing the overall aesthetics of the space.
The outbreak of COVID-19 had a significant impact on the window coverings market. The pandemic led to restrictions on home visits and transportation, resulting in decreased sales from the custom window covering format. However, as the restrictions were eased and home renovations increased, the market is expected to recover in the post-pandemic environment. The widespread installation of energy-efficient window shades is also anticipated to gain momentum, as they can significantly reduce energy usage and costs.
The adoption of smart window solutions is a growing trend in the window coverings market. These solutions allow homeowners to control their blinds and curtains through mobile applications, providing convenience and maximizing comfort. Smart windows can adjust the position of blinds and curtains based on outdoor and indoor temperatures, ensuring the right balance of natural and artificial light. With the increasing focus on home building and renovations, the market for window coverings is expected to grow further.
The window coverings industry has faced various restrictions regarding corded window coverings, particularly due to safety concerns for children. Governments in developing nations are anticipated to enact laws to safeguard children from the potential risks associated with corded blinds. Manufacturers in the market need to adapt to these new laws to maintain competitiveness.
Overall, the window coverings market is driven by the growing demand for energy-efficient solutions, rapid urbanization, the impact of COVID-19, the adoption of smart window solutions, and regulatory restrictions on corded window coverings. These factors are expected to shape the market landscape in the coming years.
Sources:
- Window Coverings Market - Industry Trends
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Source link: https://www.federalregister.gov/documents/2022/11/28/2022-25041/safety-standard-for-operating-cords-on-custom-window-coverings
The global window covering market was valued at USD 10.83 billion in 2020 and is projected to reach USD 17.43 billion by 2028, growing at a CAGR of 4.96% during the forecast period. The market experienced a lower growth rate of 19.83% in 2020 due to the negative impact of the COVID-19 pandemic on demand. However, the market is expected to return to pre-pandemic levels and exhibit steady growth in the post-pandemic phase.
The COVID-19 pandemic had a significant impact on the window covering market, with disruptions in the supply chain management leading to a slowdown in growth. Temporary closures of offline distribution channels and a ban on domestic and international tourism negatively affected product sales in both the residential and commercial sectors. However, some window treatment companies shifted their focus to the production of personal protective equipment (PPE) to meet the increased demand during the pandemic.
The market is witnessing an increasing adoption of environment-friendly products, which is expected to drive the entry of new players. Companies are using innovative approaches to offer window coverings made from recyclable and environment-friendly fabrics. The growing acceptance of bamboo as a primary raw material for blinds is also contributing to the market growth. Additionally, the booming real estate industry, especially in the United States and India, is favoring the growth of the window covering market.
The booming real estate industry, particularly in the United States and India, is a major driving factor for the window covering market. The growing popularity of constructed, modular, and prefabricated homes is boosting the demand for blinds. Technological innovation, coupled with increasing government support, is also fueling market progress. Recent developments in the textile industry, such as the establishment of mega textile parks in India, are attracting investments and driving the availability of labor and raw materials.
Government regulations concerning corded window coverings, particularly in Canada, are hampering market growth. Health Canada has introduced regulations to minimize the risks associated with corded blinds, leading to restrictions on the size of loops and length of cords. Manufacturers need to adjust to these regulations to remain competitive in the market.
The market is segmented based on type, technology, application, and distribution channel. Blinds and shades hold a major share in the market, driven by increasing demand in North American and European markets. Manual covers account for the highest market share in terms of technology, while the demand for window coverings is expected to grow at a faster pace in commercial applications. Offline distribution channels retain their prominent position in the market.
North America dominated the market in 2020, driven by the growing number of smart homes and the penetration of smart technologies in the United States and Canada. Europe is witnessing growth due to the rising popularity of natural and environment-friendly products. Asia Pacific is expected to grow significantly, driven by rising disposable income and improving standards of living in countries like India and China. South America and the Middle East & Africa currently account for a small fraction of the global market.
Hunter Douglas N.V. is the market leader, with a well-established global distribution network. Other key players in the market include Comfortex Window Fashions, Lafayette Interior Fashions, Insolroll Window Shading Systems, and Polar Shades Sun Control. These players are incorporating technology and collaborating to offer a wider range of products and meet consumer demands.
Source: Window Covering Market Size, Share, Growth & Forecast, 2028