Window Covering Market Size, Global Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Window Covering Market


The global Window Covering market size is projected to reach US$ 38.36 billion by 2026, from US$ 29.97 billion in 2020, at a CAGR of 4.2% during 2021-2026. Robust development in economies is likely to drive the market in the forecast period. Increasing disposable income of the consumer group has led to frequent change in coverings with changing wall paints and other home decor items. This has also become the prominent factor to propel the market growth.
Furthermore, rapid urbanization has increased the number of households, which, in turn, will propel the market growth in the forecast period. For instance, it has been projected that the number of households in U.S. will increase by 12.2 million between 2018 to 2028. This is expected to fuel the overall market growth for the coverings in the forecast period.

In developing countries such as India and China, adoption of western culture has been the most prominent factor for the market growth in both the residential as well as commercial sectors. Adoption has led to change in purchasing behavior of the consumer. Trend of rental houses has also been a driving factor for the industry. Consumers prefer to change their coverings and other home decors with changing homes, thus increasing the demand for the product.
Growing hospitality industry has made a tremendous impact on the growth of the industry. In developing countries such as India and China, the industry has witnessed robust growth in recent times. Increasing number of startups such as Oyo rooms and Fab hotels has led to a rise in the sale of curtains in the last five years, thereby driving the demand for the coverings. In rural areas of countries such as India, the usage of coverings is found to be rare. Although, increasing urbanization in rural areas is likely to propel the market demand in the forecast period.
Increasing government initiatives in developing countries to build more houses has also been a considerable factor for the industry growth. In India, government has come up with an initiative called affordable housing scheme, under which a large number of houses has been built and government is also providing home loans at nominal interest rates. These factors are expected to drive the market in the forecast period.

Market Segmentation, Outlook & Viewpoint: Global Window Covering Market

Type Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

  
Blinds & Shades
  
Curtains
  
Shutters
  
Others

Application Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

  
Residential
  
Commercial

Distribution Channel Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

  
Online
  
Offline

Key Players, Recent Developments & Regional Insights: Global Window Covering Market

Based on the application, the window covering market is further segmented into commercial and residential. The residential sector dominated the market and accounted for 55.8% share of the overall revenue in 2018. Increasing number of households and rapid urbanization in the emerging economies such as India and China are the key factors driving the segment. Introduction of various schemes such as Pradhan Mantri Awas Yojna in countries such as India has led the lower middle-class families to have their own house, thereby increasing the number of households. This, in turn, will boost the segment growth in the forecast period.

The commercial sector is also likely to witness significant growth in the forecast period. Growing trend of travelling has led to an increase in the number of hotels and resorts in different part of the world. The global market has witnessed tremendous growth in recent years due to increase in the number of luxury hotels and resorts.

Type Insights

On the basis of product, the window covering market is segmented into blinds and shades, curtains, shutters, and other variants. The blinds and shades segment accounted for a leading share of 39.5% in 2018 and is expected to witness significant growth in the near future. Preference for blinds and shades is increasing in countries such as U.S and other European countries due to technological advancements in the product. Manufacturers have come up with technologies such as remote control shades and automatic weather sensor shades, which has propelled the demand for the product in recent years.

The curtains segment is expected to register a CAGR of 4.4% during the forecast period. Curtains being a traditional option for window covering, are widely popular among the economical consumer group. Innovation in designs and patterns by the manufacturers has fueled the market growth in recent times. Growing consumer preference for changing their curtains with changing shades of their homes has led to frequent purchase of the product, thereby propelling the overall demand. They are cheaper and easy to use as compared to that of blinds and shades and thus are more popular among the consumer group. This, in turn, is encouraging the demand for the product in the forecast period.

Regional Insights
In 2018, North America led the market with a share of 40.0% and is anticipated to witness significant growth in the near future. In North America, U.S. contributes to the majority of share and is expected to register a CAGR of 3.8% over the forecast period. Introduction of different varieties of the product and technological advancements in the product have driven the market in the region.

Asia Pacific is expected to register the fastest CAGR of 5.1% over the forecast period. Rapid development in the emerging economies such as India and China has driven the regional market. Growing tourism sector in countries such as Thailand and Malaysia has also been a considerable factor for the market growth as it has led to increase in the number of hotels and resorts, thus propelling the demand for the product in the time frame.
Window Covering Market Share Insights

Hunter Douglas, Lotusblind, Bombay Dyeing, Insolroll, Mariak, Welspun India Limited, Skandia Window Fashion, MechoShade Systems LLC, Lafayette Interior Fashion, and Comfortex Window Fashion are some of the major market players in the industry. The market presents moderate to low entry barriers due to presence of leading market players as well as small firms. The market is further driven by innovation in designs, mergers and acquisitions, and joint ventures. For instance, various manufacturers have come up with technologies involved in blinds and shades that can be controlled by remote. They have also introduced automatic shades with weather sensors.

Key Insights Covered: Global Window Covering Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Window Covering industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Window Covering industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Window Covering industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Window Covering industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Window Covering industry.

Research Methodology: Global Window Covering Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other