Increase in customer spending on interior decor due to continuously improving living standard and rise in purchasing power is driving the window coverings market.
A consumer’s aesthetic sensibility changes with innovations in designs. This typical behaviour in consumers has given significant impetus to the window coverings market in the last few years.
Driven by the prevailing trends, the expenditure on improving interior décor will increase. This will create demand for modern window treatments and others aspects of designing.
A key point to note here is that requirement for window coverings changes according to the seasonal demand. Therefore while in some seasons the market may experience sales uptick, in others it might remain moderate.
Recent technological improvements in hardware and innovative designs of window coverings are boosting their sales. According to Future Market Insights (FMI), spurred by the aforementioned factors, the window coverings market will rise at a CAGR of ~4% between 2020 and 2030.
Key Takeaways from the Window Coverings Market Study
For More Detailed Insights on Window Coverings Market
- According to the report, key companies are likely to focus on launching novel products in Latin America and the Middle East & Africa
- Expansion of retail sector is encouraging investment in these regions. Furthermore, market players are likely to focus on improving their distribution network to capitalize on prevalent growth opportunities in Latin America and the Middle East and Africa
- Growing consumer concern regarding UV rays protection and home decoration is expected to boost sales of window coverings during forecast period
- The demand for sustainable and eco-friendly blinds and shades is rising. This will boost growth prospects for the market
- An increasing number of companies are likely to focus on improving their online presence. Through this, they intend to penetrate across emerging nations
“Companies are likely to focus on innovation to gain competitive advantage. The prevailing trends are indicative of the higher demand for smart and eco-friendly technologies among consumers. Some of the leading manufacturers are likely to leverage latest technologies to cater to the changing consumer demand. Besides this their spending on advertising is likely to surge,” said a lead analyst at FMI
Younger Generation to Drive Change in Window Coverings Market
The younger generation is considered as the key driver of the smart and automated window coverings (such as motorized blinds) market growth. Working population, primarily comprising of younger generation, are keen on following a modern lifestyle. Not only do they have a higher purchasing power, but willingness to spend on latest products.
This category of consumers will become an important demography for the window coverings market. In order to please their aesthetic sensibilities and evolving décor requirements, most companies will focus on frequent upgrades and design imporvements.
Who is Winning?
Some of the key companies in the window coverings market are as Comfortex Window Fashion, Lafayette Interior Fashion, Skandia Window Fashion, Insolroll, Mariak, Bombay Dyeing, Lotusblind, , TOSO CO. LTD., Springs Window Fashions, LLC., Solarfective Products Limited, Qmotion Shades Schenker Storen AG, Persianas Canet S.A, Nien Made Enterprise Co. Ltd, Mechoshade Systems LLC, Legrand, Lutron, Electronics Company, Ching Feng Home Fashions Co., Ltd., Griesser AG, Hunter Douglas NV Lafayette Venetian Blind Inc. and others. To increase product penetration, companies are involved in acquiring regional players. Moreover, they are focusing on better advertising their products and adopting active marketing campaigns.
- In 2019, Mecho introduced SolarTrac 4.0 to offer technologically-advanced automated window shading control system. This system is enable of developing maximize occupant and building performance with the help of daylight management.
Get Valuable Insights into Window Coverings Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global window coverings market, presenting historical demand data (2015-2019) and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the window coverings market based on products [blinds & shades (roller shades, vertical shades/blinds, panel blinds, roman shades/blinds, venetian blinds, honeycomb, pleated shades, others), curtains (pinch pleat curtains, goblet pleat curtains, pencil pleat curtains, eyelet curtains, rod-pocket curtains, tab-top curtains, others), shutters (paneled, louvered, board & batten, others) and other products), window treatment (hard window treatment, soft window treatment and layered window treatment), applications [residential, and commercial (offices, brick and mortar stores, hotels & resorts, industrial and others)], functionality [manual, electronic (ac/dc supplied, inbuilt battery operated, solar powered, hybrid), material type [natural and synthetic], price range (economic, mid-range and premium), sales channel [online (company owned portal and E-commerce portal) and offline hypermarkets/supermarkets, specialty stores, multi-brand stores, discount stores, departmental stores, independent stores, home decor stores, other sales channel)] across seven major regions.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.