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.
Furthermore, with increasing urbanization and globalization, home décor has been gaining more prominence in developed countries, as well as emerging economies such as India, Brazil, and China. This scenario is boosting the demand for window coverings in the residential sector. Moreover, different technologies and improvements, such as sensor-based coverings, together with an increase in the number of smart homes, provide growth potential.
Smart solutions are bringing connected shades, blinds, and curtains to the home interior, significantly improving comfort and convenience, while always maintaining the right balance of natural and artificial light, occupant well-being, and convenience. For example, at the Consumer Electronics Show (CES) 2020, Somfy, a leader in smart motorization solutions for homes and buildings, unveiled its new Smart Shading and Sonesse ULTRA 30 WireFree Zigbee Li-Ion motor.
The market faces a challenge from the easy availability of low-quality and counterfeit products at low rates, as well as the major slowing of the supply chain as a result of the COVID-19 pandemic. Moreover, with the outbreak of COVID-19 and the resultant restrictions, market sellers reported a drop in bespoke window covering sales. Additionally, a sizable DIY industry has evolved as a means of facilitating economical restoration.
The market is consolidated in nature, with the presence of a large number of international players and a few regional players. The market is driven by innovation in design, mergers & acquisitions, and joint ventures. Key players are focusing on smart solutions to expand their customer bases and stay ahead of the competition. Along with strong economic growth, these trends will contribute to market growth in the foreseeable term.
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Window Covering Market Report
Window Covering Market Report Highlights
- North America was the largest regional division in terms of revenue in 2021. The demand for window curtains and drapes for interior spaces is booming in the North American market due to the increasing penetration of smart technologies in households in the U.S. and Canada
- The blinds and shades segment is projected to register the fastest CAGR of 7.9% during the forecast period. Due to technological developments such as remote control shades and automatic weather sensor shades, blinds and shades are becoming more popular
- During the forecast period, the online segment is expected to expand at a faster CAGR. The increasing availability of a wide range of products from different brands, free delivery, and seasonal discounts on e-commerce platforms are among the major factors driving the segment
