Rockville Pike, MD -- (SBWIRE) -- 07/11/2019 -- The Fact.MR report on Window Blinds Market offers exhaustive insights and industry-best intelligence of the global market. A unique methodology and holistic approach are adapted to carry out a thorough analysis on growth of window blinds market for the 2018-2028 period.
To acquire detailed information regarding historical and current growth parameters of the window blinds market, an in-depth secondary research followed by primary research has been conducted. The secondary phase involves studying trade journals, press releases, company annual reports, paid resources, and other publications, while industry and market experts were interviewed as a part of the primary research.
Global window blinds market recorded a value CAGR of over 3.0% during the period, 2013 to 2017. Growing focus on using ecofriendly fabrics to reduce their environmental footprint and attract a wider customer base, has underpinned growth of the window blinds industry.
Worldwide sales of window blinds closed in on revenues worth US$ 2,300 Mn in 2018, and are estimated to register a Y-o-Y growth at over 5.0% in 2019.
Europe will continue to retain its leading position in the window blinds market, with revenues in 2018 estimated at nearly US$ 800 Mn. Window blinds sales in the region remain driven by introduction of innovative products, such as smart blinds and automatically operated blinds. Growing number of smart home projects in the region are also expected to complement sales of window blinds.
South Asia is likely to remain the high-growth market for window blinds.
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What are the Key Growth Drivers of Window Blinds Market?
Aging infrastructure in developed markets such as Europe and North America has meant that, home renovation and improvement activities have surged in the recent past. This has further led the demand for various window treatment solutions, thereby impacting sales of window blinds.
Developing economies are witnessing a notable rise in new construction activities, particularly in the residential sector, amid improving economic conditions. Prospects of the window blinds market in these nations will remain promising, upheld by growing willingness of homeowners in remodeling activities.
Growing popularity and adoption of home automation systems has remarkably rubbed off on advancements in window covering solutions. Motorized window blinds and electronically-operated blinds are the key examples of such developments entailed by the rise in home automation, which are likely to fuel future growth of the market.
Emergence of energy-efficient window blinds that facilitate adjustments in the light intensity, and aid in balancing the room temperature, is likely to remain a key growth influencer of the window blinds market.
Opportunities are imminent in the window blinds market, as manufacturers shift their focus toward using eco-friendly, recyclable, and sustainable materials, such as jute, bamboo, and reeds that are PVC-free.
What are the Key Challenges Faced by Stakeholders in Window Blinds Market?
High cost of window blinds, attributed to the prices of raw materials and associated marketing, remains a longstanding challenge to be addressed by the market players. Expensive nature of window blinds are further leading consumers to adopt more economical alternatives.
The Consumer Product Safety Commission (CPSC) has associated various hazards with manually-operated window blinds, which in turn have abated their adoption in the recent past. As economic nature of manually-operated variants have retained their supremacy in the window blinds market, these threats highlighted by the CPSC may pose a negative influence on future expansion of the market.
Window Blinds Market – Competitive Landscape
In March 2019, Spring Window Fashions introduced 'SolarTrac 4.0', a technologically advanced automated window shading control system, under the brand Mecho®. The new system is designed to maximize occupant comfort and building performance through daylight management.
In November 2018, Hunter Douglas – a leading player in the window blinds market – launched 'Duette® LightLock™ System', a revolutionary blackout technology designed to prevent light leakage at the window and create a complete blackout for consumers. Overall revenues of the company closed in on more than US$ 3 billion in 2018.
Budget Blinds launched the world's first custom fabric design program in November 2018. The initiative is qualified as the most advanced, personalized design offering in the home products space. Budget Blinds' new custom fabric design is available through the company's 1,100 franchises in the United States, Canada, and Mexico, and allows customers to select from over 9,000 combinations of fabric, color, and pattern.
In October 2018, JASNO Shutters B.V. announced the addition of a new material to its swings collection, making them suitable for an even wider range of interior designs. Founded in 2001, the company offers a range of window coverings, shutters, blinds, vertical blinds, roman blinds, and more.
Founded in 1954, Blinds To Go Inc. is headquartered in Paramus, New Jersey. The company manufactures and retails a range of blinds and shades, and currently operates more than 80 superstores throughout the eastern U.S and Canada.
Ching Feng Home Fashions Co, 3 Day Blinds LLC, Rainbow Blinds, Innovative Openings Inc., Aluvert Blinds, Stevens (Scotland) Limited, Next Day Blinds Corporation, Canadian Blinds Manufacturing Inc., Stoneside LLC, Elite Window Fashions, and Advanced Window Products, Inc. are also among the leading players in window blinds market.
The study finds that roll up blinds will remain the top-selling category of window blinds, upheld by its rising popularity as a space-efficient way of covering windows. Increasing number of home renovation activities, along with the rising emphasis of homeowners to improve aesthetics, continues to complement demand for roll up blinds. According to the study, the roll up blinds account for approximately two-fifth volume share of the market. Another key aspect driving sales of roll up blinds is the advent and adoption of patterned products.
The study finds that demand for window blinds will remain robust in the residential sector, accounting for over 50% sales. With an uptick in growth of the affordable housing sector, along with rising home improvement and renovation activities vis-à-vis aging infrastructure in developed markets, it is highly likely that the residential sector will continue to account for greater adoption of window blinds in the foreseeable future.
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