Window Covering Market Growth & Trends
The global window covering market size is expected to reach USD 60.16 billion by 2030, registering a CAGR of 7.6% during the forecast period, according to a new report by Grand View Research, Inc. Rising income levels, changing lifestyles, and the influence of other cultures have all contributed to increased consumer expenditure on home décor. Over the forecast period, all of these aspects are expected to present considerable growth possibilities to market vendors.
Window Covering Market Segmentation
Grand View Research has segmented the global window covering market based on type, application, distribution channel, installation, technology, and region
Based on the Type Insights, the market is segmented into Blinds & Shades, Curtains, Shutters, Others.
- In terms of revenue, the blinds and shades segment led the market and accounted for a 39.8% share of the global revenue in 2021. End users are able to reduce energy consumption and carbon emissions thanks to the development of new blinds and better acoustic features of honeycomb blinds. The curtains segment is anticipated to expand at a CAGR of 7.8% from 2022 to 2030. High-tech innovations, such as solar-blocking curtains or remote-controlled curtains, are becoming increasingly popular.
- On the other hand, in the curtain market, traditional craftsmanship is becoming highly valued. Moreover, DIY consumers dominate the window curtain industry. The segment expansion is fueled by the widespread availability of window curtain items and the ease with which they can be installed. To meet the needs of the curtain market, several manufacturers have developed specialized distribution channels.
Based on the Application Insights, the market is segmented into Residential and Commercial.
- The residential segment led the market and accounted for more than 55% share of the global revenue in 2021. The category is being driven by an increase in the number of households and rising urbanization in developing economies such as India and China. Furthermore, according to the FMCA, more than 800,000 new homes were sold in the U.S. in 2020, along with more than 5.5 million existing residences.
- The commercial segment is anticipated to expand at a faster CAGR of 7.7% from 2022 to 2030. The market for new building is also driven by investments in the standardization of IT infrastructure and product advancements. The need for sliding and insulated profiles is now being driven by replacement demand, owing to their improved insulating capabilities, ease of operation, and effective space usage.
Based on the Distribution Channel Insights, the market is segmented into Online and Offline.
- The offline distribution channel made the largest revenue contribution of over 80.0% in 2021. Consumers prefer home décor stores such as Home Center as they have a larger selection of patterns and colors. Consumers in countries like India choose to buy from wholesale markets since they are considerably cheaper than other markets. In the forecast term, these reasons are likely to boost the segment.
- The online channel is projected to register a CAGR of 8.0% from 2022 to 2030. E-commercein the home décor industry is growing, and it helps companies reach a wider audience. Online and offline channels are frequently combined by retailers. Furthermore, according to a 2020 survey by UNCTAD, there was a 7% increase in the number of online buyers who made at least one home furnishing transaction every two months. During the projection period, these factors are expected to boost the growth of the online segment.
Based on the Installation Insights, the market is segmented into New Construction and Retrofit.
- The retrofit segment led the market and accounted for a 56.8% share of the global revenue in 2021. In the residential sector, renovation and retrofitting is a prominent trend driving the market for window coverings. The market is expected to be propelled by increasing investments in home remodeling and the resumption of construction projects following the relaxing of COVID-19 regulations.
- The new construction segment is anticipated to expand at a CAGR of 7.3% from 2022 to 2030. The demand for window coverings is likely to be driven by expanding residential developments and the robust growth of the commercial construction industry. The market is also driven by the growth of fenestration installations in new industrial buildings.
Based on the Technology Insights, the market is segmented into Automatic and Manual.
- The manual segment made the largest revenue contribution of over 90.0% to the global market in 2021. Dwelling sizes have shrunk as a result of rapid urbanization, necessitating the usage of multipurpose home furniture and window coverings. Companies are incorporating advanced systems for hassle-free operation of shades, as well as offering multiple light filtering options.
- The automatic segment is anticipated to expand at the fastest CAGR of 8.9% from 2022 to 2030. Smart home automation technologies are becoming increasingly popular around the world, and some home stores are now stocking smart dimmers and motion sensor kits. For example, FYRTUR and KADRILJ are battery-operated smart window blinds that can be controlled wirelessly with the included remote control.
Window Coverings Regional Outlook
- North America
- Europe
- Asia Pacific
- Central & South America
- Middle East & Africa
Market Share Insights
- August 2020:com, a Home Depot Company, expanded its popular cellular shades line to include a comprehensive, integrated system that could cover any window in the house, offering customers the advantages of cordless operation without the need for motorization
- July 2020: Hunter Douglas introduced the Designer Roller Duolite Shade, a roller shade that combines a translucent fabric for light diffusion and a thick liner for room darkening.
Key Companies Profile & Market Share Insights
The window covering the market includes both international and regional participants. Key market players are focusing on product innovation to enhance their portfolios.
Some of the prominent players operating in the global window coverings market include,
- Hunter Douglas
- Lotus & Windoware, Inc.
- Bombay Dyeing
- Insolroll
- Mariak
- Welspun India Limited
- Skandia Window Fashions
- MechoShade Systems, LLC
- Lafayette Interior Fashions
- Comfortex Window Fashions
Order a free sample PDF of the Window Coverings Market Intelligence Study, published by Grand View Research.
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