Blinds Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)
発行: Mordor Intelligence Pvt Ltd
ページ情報: 英文 170 Pages
The real estate industry has witnessed high growth over the past few years, owing to which the value of residential construction is increasing. As the number of houses increases, the demand for window coverings also increases, which is boosting the demand for window blinds. An increase in the spending of households is also a key factor driving the window blind market. Blinds are window coverings that are made up of several long vertical or horizontal slats of various hard materials such as plastic, wood, and metal. These slates are bound together by cords that run through the blind vanes. These vanes or slats tumble down as the blind is lowered or can be pulled to the side of a window to stack lengthwise. These slats or louvers are individually attached together to create a complete blind. These slats are meant to stay tightly closed for light control and privacy. These can be tilted or adjusted at different angles to limit the light from entering. Key parameters for selecting window blinds include material, quality, and cost. The rise in commercial and residential development drives the window blinds market. The window blinds market is anticipated to expand at a considerable pace soon. The increase in popularity of smart homes and the rise in infrastructural development around the world are key factors that are expected to drive the window blinds market during the forecast period. Additionally, change in the interior design of residential and commercial spaces is also boosting the window blinds market. Commercial spaces are increasing in numbers, and these are closely maintaining their ambiance preference. Many office spaces maintain an office ambiance as they try to bring out their business strategies with employee health, performance, and wellness. The middle-class population prefers conventional curtains to cover windows over blinds due to the low prices of curtains. This is likely to restrain the window blinds market.
The window blinds market is witnessing an upsurge because of new innovations and developments in technology, which is attracting many users to these products. Key players operating in the window blinds market are giving prime importance to adding innovative blinds to their product portfolio by carrying manufacturing advancements in technology and introducing product lines. Technological advancements available in the window blinds market include the use of remote control to lower or raise blinds. Moreover, automated blinds are available in cordless blinds, which can be easily handled. Smart blinds are the latest technology available in the market. These blinds can be controlled using mobile devices.
The outbreak of the coronavirus disease (COVID-19) acted as a massive restraint on the global blinds manufacturing market in 2020, as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. Steps by national governments to contain the transmission have resulted in the halting of manufacturing activities and a decline in economic activity with countries entering a state of lockdown, and the outbreak was expected to continue to have a negative impact on businesses throughout 2020 and into 2021.
Growth in the Residential Segment is Boosting the Blinds Market
Rapid Urbanization, rise in residential development, and growing disposable income are responsible for an increase in housing starts and a strong interest in home renovation projects, which drive the window blinds market. The window blinds market is anticipated to expand at a considerable pace soon. The increase in popularity of smart homes and the rise in infrastructural development around the world are key factors that are expected to drive the window blinds market during the forecast period. Additionally, change in the interior design of residential is also boosting the window blinds market. Residential remodeling and replacement may continue to account for the largest share of blinds demand, as homeowners replace older blinds with newer products that offer enhanced visuals or improved functioning.
Asia-Pacific Region is Anticipated to Grow at a High Rate
Asia-Pacific ranks as the fastest-growing market with a significant growth rate over the forecast period, led by rapid urbanization. Rising disposable income of people, the expanding middle-class population and their changing attitude toward home decor, the use of remote control to lower or raise blinds, automated blinds, smart blinds controlled using mobile devices, and convenient, durable, safe, and attractive blinds are among the key factors supporting the demand for window blinds in this region.
The report covers major international players operating in the global blinds market. In terms of market share, afew of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets.