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The Blinds and Shades market registered US$ XX Bn in 2019 and it is estimated to reach more than US$ 14 Bn by 2028, likely to grow with a CAGR of 3.3 % during the forecast period.
Blinds and Shades are modern windows covering methods that can be maneuvered manually or through the remote. Blinds and Shades are preferred over traditional curtains or drapes as these window covering methods offer complete control over the amount of light that must be passed through the window. Besides this, blinds and shades are available in several types which increase the visual appearance of the home and commercial offices. Overall, the use of blinds and shades enhances the beauty and provides a pleasant environment along with security and privacy. Wood, woven wood, faux-wood, mini blinds, and vertical blinds are the most popular blinds available commercially. Among the shades available commercially, roller shades, roman shades, and cellular shades are the most popular shades. Commercial Blinds and shades are also in great demand these days. The rapidly progressing commercial sector is increasing the demand for blinds and shades in the marketplace. They effectively control the light; provide privacy, security and a pleasing and elegant ambiance in the workplace.
Growth of the Commercial Sector to Drive the Demand for Blinds and Shades
Commercial properties such as buildings, retail stores, restaurants, and several others have witnessed rapid expansion in recent years. Commercial real estate has been booming in several countries such as the U.S., the U.K., Germany, Japan and many more due to the growing number of investments and maximum chances of returns in this sector. In addition, office spaces are growing as one among the most common types of commercial real estate that make use of designs and décor products as it plays a major role in influencing the productivity and efficiency of owners, employees, and customers. In commercial spaces, blinds and shades are used for privacy and for light control. Moreover, it also provides increased energy efficiency along with heat, glare and UV control. Further, the shifting trend towards healthy workplace and co-working spaces are expected to increase the demand for blinds and shades.
The emergence of Motorized Window Blinds and Shades to Create Growth Opportunities for the Blinds and Shades Market Players
In recent years, technology has advanced in the window treatment industry. The introduction of motorized operation provides a more convenient, and safe way to revamp homes and office spaces. The motorized blinds and shades are safe as they are operated without cords and create a safer environment for kids and pets. In addition, it provides convenience and accessibility. The motorized blinds and shades control all windows with a touch of a button, and can also be programmed to open or close any shades as per requirements. They can also be used to easily control the amount of light and privacy for any tall or hard to reach windows with remote control. These advantages of motorized window blinds and shades will create potential opportunities for the growth of the blinds and shades market.
Honeycomb Shades and Blinds to Be the Most-Preferred Among the Commercially Available Products in the Blinds and Shades Market
Among product types, honeycomb shades top the list as a favorite window treatment. In addition, honeycomb shades also provide great insulation and energy efficiency while enhancing the appearance of the windows. On the basis of the fabric, synthetic fabrics hold a large share in the market. Synthetic fabrics are mostly used in blinds and shades as they don't absorb moisture like wood or wood-based and are typically immune to several kinds of damage.
Furthermore, by operating systems include manual and automated. Among them, the automated blinds and shades are growing at a significant rate owing to diversified benefits such as maximum safety for children and pets, added security and as it also boost the energy-efficiency of the home.
Based on the application, the commercial sector accounts for the maximum market share as it is increasingly used in the hospitality industry. They are vastly used in the hospitality sector as it provides textures and elegance in these spaces. Among distribution channels, the online sales channel is expected to grow with the highest CAGR owing to the growing preference of online shopping among the millennial population.
Asia Pacific to Witness a Strong Growth Rate in the Blinds and Shades Market
Among the geographies, North America holds the largest share in the market as they cover the highest volume of real estate sold worldwide. In addition, the high disposable income and the growth of the hospitality sector in the US contribute heavily to the high consumption of blinds and shades in this region.
However, the Asia Pacific is expected to grow at the fastest rate due to the growing urbanization in countries such as China and India. Further, due to smart city initiatives in Singapore, Japan, South Korea, and Australia, APAC will witness an increase in the number of commercial real estate investors, thereby; driving the growth of blinds and shades market in the Asia Pacific region.
The global blinds and shades market is highly fragmented with the presence of several local and established manufacturers. ChingFeng Home Fashions Co., Ltd., Griesser AG, Hunter Douglas NV, Lafayette Venetian Blind Inc., Legrand, Lutron Electronics Company, Mechoshade Systems LLC, Nien Made Enterprise Co. Ltd., SchenkerStoren AG, and PersianasCanet S.A are the major players operating in the blinds and shades market. The players are strengthening their market position through strategic moves such as new product launches and acquisitions. In such an instance, Mechoshade Systems Inc. has launched a technologically-advanced automated window shading control system named Solar Trac 4.0, which maximizes occupant and building performance with the help of daylight management.
Global Blinds & Shades Market by Product Type
- Vertical Blinds
- Horizontal Blinds
- Cellular Shades
- Roller Shades
- Woven Woods
- HoneyComb Cellular Shades
- Roman shades
- Roller shades
- Solar Screen Shades
Global Blinds & Shades Market by Operating System
Global Blinds & Shades Market by Application
Global Blinds & Shades Market by Fabric
Global Blinds & Shades Market by Distribution Channel
Global Blinds & Shades Market by Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America