Window Coverings Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Window Coverings Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Window Coverings Market is expected to register a CAGR of 4.42% over the forecast period, 2022 - 2027. With rapid urbanization across the world, homes are being adapted and re-designed to hold communal and private spaces that follow the concept of shared living. This is leading to newer opportunities for vendors in the market studied in the development and consumption across the residential and commercial sectors. The interior shutters, blinds, and shades constitute the majority of the shareholding across the window coverings. The applications of window coverings have evolved from assisting in the privacy of interior spaces to acting as a critical home décor factor. On a commercial front, these coverings add functionality in terms of energy efficiency parameters.

Key Highlights

• The possible benefits of the widespread installation of energy-efficient window shades are huge. According to Attachments Energy Rating Council (AERC), older homes and window systems typically account for 25% of annual heating and cooling costs but can be responsible for as much as 40%. This means many homeowners are spending more money than necessary on heating and air conditioning. DOE research has proven that window attachment products have the potential to reduce energy usage significantly. In January 2020, The Attachments Energy Rating Council (AERC) and the U.S. Department of Energy (DOE) announced that Hunter Douglas had earned the very first energy performance rating for window coverings on their lines of cellular shades and cellular roller shades.
• As curtains are a traditional and long-standing part of home décor globally, the current European imports of natural fiber curtains depict increased production capabilities. As over 50% of imports come from developing countries, the United Kingdom, France, and Germany-based manufacturers are witnessing production ramp-ups, aided by stabilized import activities.
• The adoption of smart windows solutions are bringing home the interior experience with connected shades, blinds, and curtains which significantly improves comfort and convenience while always maintaining the right balance of natural and artificial light; the well-being of occupants and everyday conveniences are maximized.
• Moreover, with government initiatives looking at increasing home building and renovations across multiple regions, the market for wall coverings is expected to grow. For instance, NHBC stated that the number of new homes registered to be built in the United Kingdom in 2019 rose by 1%, accounting for 161,022 homes being registered with the organization. Additionally, the government is planning for private housebuilders, housing associations, and councils to ramp up the annual construction to 300,000 a year by 2025.
• With the outbreak of COVID-19, the home renovation trends significantly increased, but the market vendors reported decreased sales from the custom window covering format. This was in line with the restriction on home visits along with transport and logistics restrictions.

Key Market TrendsBlinds Segment is Expected to Hold Significant Share

• Blinds include Venetian, vertical, roller, and other blinds (soft, pleated). A typical window blind is made of multiple long vertical or horizontal slats of various hard material types. The materials, including wood, plastic, or metal, are held together by cords that run through the blind slats. Venetian blinds have been widely adopted in office buildings to regulate light and air. Therefore, multiple commercial-based upcoming projects across the world promise a wider adoption of the same. Vertical Louvre Blinds are used to control the light and can open fully by drawing them to a single side of the window. Roller blinds can be rolled down and up either fully or partially for light control, although translucent materials will allow the entry of light through while maintaining privacy.
• Along with the rising trend of installing intelligent systems in homes, the installation of automated roller blinds is also on the rise in the studied market. These window coverings could be controlled through various mobile applications. They can readjust position with the outdoor and indoor temperature and are expected to become a stable alternative to traditional blinds in smart homes during the forecast period.
• Additionally, as multiple initiatives emerge on sustainable commercial constriction, such as the German Federal Ministry of Economic Affairs setting benchmarks in terms of low primary energy consumption, the data mentioned above was collected from an office building in Frankfurt, Germany, over four years. This highlighted the daylight factors in the workspaces from Venetian blinds with different blind positions and ceiling panels above the desks. Also, the occupants' interactions with windows and blinds were considered essential aspects of passive cooling concepts. This is likely to fuel the automation and motorization of blinds shortly.
• Blinds include Venetian, vertical, roller, and other blinds (soft, pleated). A typical window blind is made of several long horizontal or vertical slats of various types of hard material. The materials, including wood, plastic, or metal, are held together by cords that run through the blind slats.
• Smart home automation-related gadgets are gaining significant popularity globally, and several home stores are beginning to sell items such as smart dimmers and motion sensor kits.
• Manufacturers of window blinds are capitalizing on the rising trend of using environmentally friendly or sustainable materials in product development. In the design and furnishing of residential and commercial spaces, there is a shifting trend. Because of their quality, simplicity, and safety, automated window blinds are expected to see an increased demand. However, rising price and durability concerns are limiting the growth of the window blinds market.

Asia Pacific to Witness the Significant Growth

• The studied segment explores the ongoing trends and drivers for window coverings in various countries located in the Asia Pacific. The region is marked by multiple vendor activities and the presence of a viable customer base which facilitates the expansion of window coverings sales in the countries and presents firm opportunities for companies operating in the studied market.
• The COVID-19 pandemic compelled movements to be restricted to homes, which has been identified with a growing interest in the beautification of houses leading to a positive impact on the studied market. Customers have taken an interest in various kinds of window coverings to enhance the aesthetic of their homes. Although on the manufacturing end, the pandemic induced large-scale disruptions in the supply chain of window coverings.
• In the Asia-Pacific region, the studied market is driven by the steady increase in the urbanization rate in the developed countries and the emerging economies of the area. According to Seventh Population Census conducted in 2020, 63.9% of the total population of China lived in cities 2020. Furthermore, according to the urbanization blueprint released by the Communist Party and State Council, China targets 70% urbanization by 2030.
• While considering South Korea, the presence of smart home device makers has been aiding smart home penetration. Multiple government initiatives and investment policies have aided the production and consumption of smart window coverings in the country.
• Aligned with the rising trend of installing intelligent systems in homes, the studied market is characterized by the installation of automated roller blinds. These window coverings could be controlled through various mobile applications. They can readjust position with the outdoor and indoor temperature and are expected to become a stable alternative to traditional blinds in smart homes during the forecast period.

Competitive Landscape

The Window Coverings Market is quite fragmented and consists of several players. The companies in the market tend to partner with international designers to make the window coverings aesthetically pleasant to the eye and manage to incorporate the latest designs and colors and enhance commercial and residential buildings.

• March 2021 - SelectBlinds.com, the online customized window décor provider, has announced the release of two Motorized Architect Roller Shades powered by new Eve MotionBlinds and Apple HomeKit Technology. In addition to Bluetooth capabilities, the Eve MotionBlinds motors are the linked blinds and shades motors that enable thread smart home technology.

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