Global Shutter Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Shutter Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Shutter market finds that the global Shutter market reached a value of USD 512.76 million in 2022. It’s expected that the market will achieve USD 768.53 million by 2028, exhibiting a CAGR of 6.98% during the forecast period.

Influence of COVID-19 Outbreak on Shutter Industry Development

Since the outbreak of the COVID-19 virus in December 2019, the disease has spread to nearly 100 countries around the world, and the World Health Organization has declared it an emergency public health event. The COVID-19 epidemic is infected with a large number of people, and its spread and scope far exceed SARS. At present, the number of confirmed cases in Worldwide has exceeded 10 million. Different industries are affected differently by the epidemic situation. The impact on Shutter is mainly reflected in the supply of raw materials and Downstream market demand. The main raw materials of Shutter are Polycarbonate material, stainless steel, aluminum alloy, etc. Overall, affected by the COVID-19 epidemic, logistics will be suspended and the supply of raw materials for Shutter will be tight. Due to the global threat of COVID-19, the resumption of work in the world's plants will directly affect the customer's production plan for goods and shipments. The continuous outbreak of the international epidemic situation, if the personnel control of each country is extended, it will affect the smooth supply of equipment and materials.

For downstream industries, during the COVID-19 epidemic, in order to firmly prevent the spread of epidemics, the government has issued measures to extend vacations, delay business recovery, flow control and flow control measures, and postpone recovery activities. For example, in addition to strictly importing the entrance to prevent the epidemic situation, measures have also been taken in Thailand to prevent the spread of the epidemic. The Thai government has cancelled or postponed the holding of some conferences, exhibitions and other events, and some stadiums and swimming pools have been closed. At the same time, Bangkok, Pattaya, Khon Kaen, Phuket, Chiang Mai and other places have announced the cancellation of the Thai New Year Songkran Festival (Water Songkran). COVID-19 has a huge impact on the operation of the industry, of which the impact on SMEs is more obvious. The company's inability to conduct normal operations and sales has exacerbated the shortage of funds for SMEs and reduced the company's solvency. To a certain extent, the demand for blinds is affected.

Drivers

According to Vietnam News Agency, the construction industry in Vietnam has maintained a good growth momentum for the past 10 years. In 2018, the Ministry of Construction has proposed 11 core tasks and will take strong measures to accomplish the set goals. According to the evaluation of economic experts, in the past 10 years, the growth rate of Vietnam's construction industry has continuously increased, from nearly 5 billion US dollars in 2007 to 12.8 billion US dollars in 2017. In 2017, the construction industry maintained a relatively high growth momentum, an increase of 8.7% year-on-year, and ranked third in the contribution rate to GDP. According to real estate associations, developers and development research institutes, in order to adapt to changes in the housing market, major cities in Vietnam will construct about one million new houses in two years in 2019 and 2020 to meet the needs of about three million migrants and Housing needs of industry workers, including employees of state-owned organizations.

Economic development has brought more job opportunities to Vietnamese people, and at the same time promoted the development of urbanization. For example, Ho Chi Minh City, Vietnam's largest city, has benefited from the rapid development of Vietnam's economy, with increasingly developed urban construction and skyscraper construction in full swing. The city has planned to build the Vietnamese version of Pudong New District on the first new town on the other side of the Saigon River and build a group of Vietnamese skyscrapers. In 2018, Ho Chi Minh City, the largest city in Vietnam, became the tallest skyscraper in Vietnam, and the building was named Landmark Tower 81. The building is 461.3 meters high, has 81 floors, covers an area of more than 240,000 square meters, and the investment amount reaches 1.4 billion US dollars. The landmark tower was opened in 2018 and became the tallest building in Vietnam and a symbolic building for Vietnam's new economic growth. Therefore, the stable development of the construction industry has brought a strong carrier base to the Shutter market.

Region Overview:

Vietnam had the highest growth rate of all regions.

Company Overview

Sanwa Holdings Corporation is one of the major players operating in the Shutter market, holding a share of 14% in 2020.

Sanwa Holdings Corporation heavy & light weight shutters, doors, and window units. The Company provides integrated service of design, installation, and repair.

The year of 2003 marked the appearance of Austdoor in Vietnam market. After 17 years of development, Austdoor has grown and affirmed our leading position in the field of manufacturing and trading high quality roller shutters. So far, Austdoor is proud to mark its brand to 63 cities and provinces across the country and constantly expands our business in international markets. During the development process, Austdoor has always aroused, renewed passion, creativity to conquer and bring great values to life.

Segmentation Overview:

By type, Door Shutter segment accounted for the largest share of market in 2021.

Application Overview:

By application, the Commercial segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Shutter market covered in Chapter 3:

R.S. Shutter
V.C. Autoshutters
CJ Metallic Company
Bunka Shutter Co. Ltd.
Mitadoor
KSS Thailand
Austdoor
Hormann Group
Sanwa Holdings Corporation
World Kogyo (Thailand)

In Chapter 4 and Chapter 14.2, on the basis of types, the Shutter market from 2018 to 2029 is primarily split into:

Door Shutter
Window Shutter

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Shutter market from 2018 to 2029 covers:

Residential
Commercial

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)