Window Coverings Market is Projected to Cross a Stupendous Revenue of US$ 28.4 Bn at a CAGR of 4.1% By The Year 2028 End | Report by Future Market Insights, Inc.
Brand Story 16 Nov 2022, 09:43 GMT+10
The window coverings market size expected to register 4.1% CAGR, to garner US$ 22.2 Bn in 2022 and projected to reach US$ 28.4 Bn during 2022 - 2028.
Increase in customer spending on interior decor due to continuously improving living standard and rise in purchasing power is driving the window coverings market. A consumer's aesthetic sensibility changes with innovations in designs. This typical behaviour in consumers has given significant impetus to the window coverings market in the last few years.
Driven by the prevailing trends, the expenditure on improving interior decor will increase. This will create demand for modern window treatments and others aspects of designing. A key point to note here is that requirement for window coverings changes according to the seasonal demand. Therefore while in some seasons the market may experience sales uptick, in others it might remain moderate.
Recent technological improvements in hardware and innovative designs of window coverings are boosting their sales. According to Future Market Insights (FMI), spurred by the aforementioned factors, the window coverings market will rise at a CAGR of ~4% between 2020 and 2030.
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Key Takeaways from the Window Coverings Market Study
According to the report, key companies are likely to focus on launching novel products in Latin America and the Middle East & Africa
Expansion of retail sector is encouraging investment in these regions. Furthermore, market players are likely to focus on improving their distribution network to capitalize on prevalent growth opportunities in Latin America and the Middle East and Africa
Growing consumer concern regarding UV rays protection and home decoration is expected to boost sales of window coverings during forecast period
The demand for sustainable and eco-friendly blinds and shades is rising. This will boost growth prospects for the market
An increasing number of companies are likely to focus on improving their online presence. Through this, they intend to penetrate across emerging nations
Younger Generation to Drive Change in Window Coverings Market
The younger generation is considered as the key driver of the smart and automated window coverings (such as motorized blinds) market growth. Working population, primarily comprising of younger generation, are keen on following a modern lifestyle. Not only do they have a higher purchasing power, but willingness to spend on latest products.
This category of consumers will become an important demography for the window coverings market. In order to please their aesthetic sensibilities and evolving decor requirements, most companies will focus on frequent upgrades and design imporvements.
Some of the key companies in the window coverings market are as Comfortex Window Fashion, Lafayette Interior Fashion, Skandia Window Fashion, Insolroll, Mariak, Bombay Dyeing, Lotusblind, , TOSO CO. LTD., Springs Window Fashions, LLC., Solarfective Products Limited, Qmotion Shades Schenker Storen AG, Persianas Canet S.A, Nien Made Enterprise Co. Ltd, Mechoshade Systems LLC, Legrand, Lutron, Electronics Company, Ching Feng Home Fashions Co., Ltd., Griesser AG, Hunter Douglas NV Lafayette Venetian Blind Inc. and others. To increase product penetration, companies are involved in acquiring regional players. Moreover, they are focusing on better advertising their products and adopting active marketing campaigns.
In 2019, Mecho introduced SolarTrac 4.0 to offer technologically-advanced automated window shading control system. This system is enable of developing maximize occupant and building performance with the help of daylight management.
Window Coverings Products Market - Leading players
The global window coverings market offers ample opportunities for the entry of new players. The companies with their business at nascent stage usually focus on selling electronic blinds and shades either at a local or regional level.
Leading window coverings market players are currently focusing on innovations. They have aesthetically pleasing designs with innovative features in mind. With competition soaring higher, most companies are likely to focus on customization and product differentiation gain competitive advantage.
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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