Window Coverings Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Overview

The Window Coverings Market is expected to register a CAGR of 4.42% over the forecast period from 2021 - 2026. With rapid urbanization across the world, homes are being adapted and re-designed to hold communal and private spaces that follow the concept of shared living. This is leading to newer opportunities for vendors in the market studied in the development and consumption across the residential and commercial sectors. The interior shutters, blinds, and shades constitute the majority of the shareholding across the window coverings. The applications of window coverings have evolved from assisting in the privacy of interior spaces to acting as a critical home décor factor. On a commercial front, these coverings add functionality in terms of energy efficiency parameters.

• The possible benefits of the widespread installation of energy-efficient window shades are huge. According to Attachments Energy Rating Council (AERC), older homes, window systems typically account for 25% of annual heating and cooling costs but can be responsible for as much as 40%. This means many homeowners are spending more money than necessary on heating and air conditioning. DOE research has proven that window attachment products have the potential to reduce energy usage significantly. In January 2020, The Attachments Energy Rating Council (AERC) and the U.S. Department of Energy (DOE) announce that Hunter Douglas has earned the very first energy performance rating for window coverings on their lines of cellular shades and cellular roller shades.
• The adoption of smart windows solutions are bringing home interior experience with connected shades, blinds, and curtains which significantly improves comfort and convenience, while always maintaining the right balance of natural and artificial light, the well-being of occupants, and everyday conveniences are maximized. In January 2020, Somfy, a company engaged in the motorization and connectivity of interior window coverings, exterior shading products, and access management systems announced its new smart shading and its Sonesse ULTRA 30 WireFree Zigbee Li-Ion motor, at Consumer Electronics Show (CES) 2020. Users can control all their window coverings with one touch on a smartphone, a remote control or a simple voice command through a smart speaker.
• Moreover, with government initiatives looking at increasing home building and renovations across multiple regions, the market for wall coverings is expected to grow. For instance, NHBC stated that the number of new homes registered to be built in the United Kingdom in 2019 rose by 1%, accounting for 161,022 homes being registered with the organization. Additionally, the government is planning for private housebuilders, housing associations, and councils to ramp up the annual construction to 300,000 a year by 2025. Likewise, as per the Federal Statistical Office, the number of permits for construction or conversion of homes in Germany, in May 2020, increased by 3.9% year-on-year to a total of 32,000. Similarly, the sales are expected to increase, as the functional benefits of blinds and shutters are being recognized.
• With the outbreak of COVID-19, the home renovation trends shot up, but the market vendors reported decreased sales from the custom window covering format. This was in line with the restriction on home-visits. Also, a considerable DIY market emerged as a channel to facilitate “budgeted home décor renovations”. Also, trade fairs were canceled and postponed. For instance, Asia R+T Asia, an international B2B trade show, is an annual highlight for manufacturers and sellers of window coverings, blinds and shades, external sun-protection systems, roller shutters, industrial doors and gates, garage and parking systems, automatic doors, and related products. The 16th edition of R+T Asia and the 2nd edition of Home Decoration Asia (HD+ Asia), to be held in Feb. 24-26, 2020 was postponed due to the outbreak of COVID-19 infection in several Chinese provinces.

Scope of the Report

Window coverings are materials that are generally used to cover a window to manage sunlight, to provide additional weatherproofing, to ensure privacy or sometimes security, or for purely aesthetic purposes. Various types of window coverings include Blinds, Shades, Shutters, Curtains, etc.

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Key Market Trends

Blinds are Expected to Hold Significant Share

• Blinds include Venetian, vertical, roller, and other blinds (soft, pleated). A typical window blind is made of multiple long vertical or horizontal slats of various hard material types. The materials, including wood, plastic, or metal, are held together by cords that run through the blind slats. Venetian blinds have been widely adopted in office buildings to regulate light and air. Therefore, multiple commercial-based upcoming projects across the world promise a wider adoption of the same. Vertical Louvre Blinds are used to control the light and could open fully by drawing them to a single side of the window. Roller blinds can be rolled down and up either fully or partially for light control, although translucent materials will allow the entry of light through while maintaining privacy.
• Additionally, as multiple initiatives emerge on sustainable commercial constriction, such as the German Federal Ministry of Economic Affairs setting benchmarks in terms of low primary energy consumption, the data mentioned above was collected from an office building in Frankfurt, Germany, over four years. This highlighted the daylight factors at the workspaces from Venetian blinds with different blind positions and ceiling panels above the desks. Also, the occupants' interactions with windows and blinds were considered essential aspects of passive cooling concepts. This is likely to fuel the automation and motorization of blinds shortly.
• In November 2019, Danish textile brand Kvadrat worked with designers Ronan and Erwan Bouroullec on a roller blind that does more than just screen a window. They offer acoustic benefits and can provide thermal insulation to reduce a building's energy consumption. The company has even created a calculator to find out how much money they can save on their heating bills. Applying a metalized textile to the underside of the blind allows it to function as a thermal insulator. It prevents heat from entering in warmer summer months and stops heat from escaping in the winter. The designs are produced from polyester, without PVC, to make them easily recyclable.
• Smart home automation related gadgets are gaining in significant popularity worldwide, and several home stores are beginning to sell items such as smart dimmers and motion sensor kits. In January 2019, IKEA announced the release of two new products, smart products. FYRTUR and KADRILJ are battery-powered smart window blinds that can be controlled wirelessly by the remote control that comes with the blinds. The user can also manage the blinds through the associated app or by a device like Amazon Alexa or Google Home. The blinds are available in the range of EUR 99 - EUR 155. IKEA also announced that the smart shades would only be available in the European market and available in the U.S. sometime in spring 2019.

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