The latest market report published by Credence Research, Inc. is “Global Window Coverings Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Window Coverings Market generated revenue of around USD 11.1 billion in 2021 and is anticipated to grow a CAGR of over 4.7% during the forecast period from 2022 to 2028 to reach around USD 14.62 billion in 2028.
Window covers come in various materials to protect windows from outside elements like sunlight, air, and others and ensure security and privacy. These coverings also further weatherproof buildings and decorate homes and offices. Products for covering windows include curtains, shutters, shades, and blinds. Roman shades, cellular/honeycomb shades, pleated shades, motorized shades, roller shades, solar shades, sheers and semi-sheers, naturally woven shades, bamboo & Bali shades, wood blinds, panel track blinds, faux wood blinds, and drapery are some of the most popular types of shades that are offered. Window coverings are essential to any building, offering privacy, insulation, and aesthetic appeal. Rising urbanization due to the rising population, rapidly growing construction and renovation activities, and increased spending on décor products in residential and commercial sectors worldwide are all expected to propel global market growth. An increasing preference for the modernization of homes, commercial buildings, and offices is another key factor driving demand for various window-covering product lines such as curtains, blinds, shades, and so on, thereby supporting revenue growth in the target market. The rapidly expanding hospitality industry, which can be attributed to an increase in hotels, restaurants, and other establishments, is fueling demand for window coverings and is expected to boost global market growth throughout the forecast period. The rising cost of raw materials is one of the major factors contributing to the higher cost of end products, which may impede global market growth over the coming years.
The global window coverings market is bifurcated into Technology, Installation, Distribution Channel, Application, Type, and Geography. Based on technology, the market is categorized into manual and automatic. Based on the installation, the global market is segmented into retrofit and new construction. Based on the distribution channel, the market is divided into offline and online. Based on the application, the market is categorized into residential and commercial. Based on type, the global market is divided into blinds & shades, curtains, shutters, and others. The market is segmented based on geography: North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
In 2021, Asia Pacific dominated the global window coverings market and accounted for a major market revenue share value. This can be attributed to rising construction activities, expanding populations, and quick urbanization in emerging economies like India, China, and Indonesia, which are anticipated to propel the demand for these window coverings products during the projection period. A strong customer base and numerous vendor activities in the region contribute to expanding window-covering sales in developing countries and offer solid opportunities for market players.
There are several challenges that the window coverings market faces. Some of these challenges include:
Competition from substitute products: The window coverings market faces competition from substitute products such as curtains, blinds, and shades. These products serve a similar purpose to window coverings, and consumers may choose to use them instead of window coverings.
Price sensitivity: Window coverings can be expensive, and some consumers may be price sensitive. This can make it difficult for companies in the window coverings market to price their products competitively.
Changes in consumer preferences: Consumer preferences for window coverings can change over time, which can make it difficult for companies in the market to anticipate and respond to these changes.
Limited availability of raw materials: Some raw materials used to make window coverings, such as certain types of wood or metals, may be in short supply or have high production costs, which can impact the price and availability of window coverings.
Environmental concerns: There are increasing concerns about the environmental impact of window coverings, including issues such as the disposal of old window coverings and the sustainability of the materials used to make them. This can be a challenge for companies in the market as they try to balance the need to be environmentally responsible with the need to be economically viable.
Why to Buy This Report-
- The report examines the global window coverings market by segment, drivers, restraints, opportunities, latest developments, insights, challenges, and market dynamics from 2016 to 2020, with 2021 serving as the base year and 2022-2028 as the forecast period.
- The market’s competitive landscape is discussed in the report, along with the strategies used by the market’s leading players on a local, regional, and global scale.
- In-depth analysis of the global window coverings market segmentation by technology, installation, distribution channel, application, and type.
- The report provides comprehensive and reliable information on every aspect, including CAGR, consumer spending patterns, supply and demand, and import/export statistics for the principal regional nations.
- The market report for window coverings includes industry analysis at the global, regional, and national levels and information on important market trends, competitive landscapes, and expansion plans.
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