Rising Urbanization and Smart City Trend to Fuel Solar Shading Systems Market Growth
Rising urbanization on the back of permeation of real estate in suburban area coupled with surging growth in the infrastructure development and construction sector has provided ample opportunities for manufacturers of solar shading systems worldwide. According to United Nations, around 55% of the global population prefers urban areas and this number is expected to grow to 68% by end of 2050. Additionally, this has resulted in proliferation of smart homes, which is expected to influence adoption of advanced devices such as use of solar shading systems to regulate indoor environment. This is again complemented by the idea of using clean solar energy to supply power to commercial and residential spaces using PV systems. This is in tandem with growing awareness regarding rising carbon footprint and rising pressure on energy grids due to high demand of power, which is pushing residential and commercial spaces to invest in solar shading systems. Trending smart city projects coupled with smart urbanization concept is likely to fuel growth of the solar shading systems market in the coming years.
Research on Enhancing Efficiency to Provide an Impetus to the Solar Shading Systems Market
Researchers have been focusing on developing advanced solar shading systems that can provide better solar control on indoor temperatures in various climatic conditions. Moreover, use of solar shading systems to improve energy efficiency of buildings is triggering them to identify solutions that can enhance the rate of energy efficiency. This can potentially support manufacturers of solar shading systems to incorporate new technology in their products that can save significant amount of energy. For instance, researchers in Princeton University have developed an advanced solar shading system that facilitates improved energy efficiency by reducing energy usage by 50%. These solar shading systems aim to provide significant energy savings by carrying out alterations in building facades in a bid to adapt to changes in sunlight during the day. Inspired by mechanics of insect trapping plants, these solar shading systems can enhance comfort of occupants by controlling temperature and maintaining a constant interior daylight level, consequently saving operational energy of the building. In addition, these solar shading systems are cost effective as compared to traditional systems as they do not require expensive material. Growing research on solar shading systems to improve their efficacy is expected to provide new opportunities for manufacturers of solar shading systems.
Perceived Benefits of Automated Systems to Augment Growth of Solar Shading Systems Market
Growth of solar shading systems market can be related to known benefits of automated solar shading systems as a key element that saves energy. Automated solar shading is essentially an intelligent and dynamic system with which external or internal solar shading systems operate automatically by receiving a real-time data from sensors about wind, sun and temperatures. This data is collated with pre-set thresholds and input as per the requirement of facilities to save energy. By regulating appropriate daylight quantity and solar gains inside the building, automated solar shading systems optimize air conditioning during winter season and decreases heating during summer season. Moreover, these solar shading systems also support de-carbonization of buildings by reducing carbon emissions. Such advantages of these systems are expected to bolster growth of solar shading systems market in the years to follow.
Innovations in Design to Boost Solar Shading Systems Market Growth
Technological advancements have provided new pathways to carry out innovations across various industries. That said, manufacturers of solar shading systems are focusing on launching innovative products that can offer enhanced functionalities leading to significant growth in sales. Advancement in design is one such development that improves operational efficiency of solar shading systems. For instance, in 2019, Lutron Electronics introduced Lutron Roller 64 that is integrated with the WIDR technology that supports solar shading systems extended over 12 feet width. Also, its shades are built slimmer and narrower which offers efficient space management. Likewise, in 2021, MicroShade A/S, a Danish manufacturer has launched MicroShade Film that blocks sun energy and allows natural day light in buildings. Its 0.2 mm thickness is hardly noticeable which adds to its aesthetics. It provides daylight and sun protection simultaneously offering advanced comfort to occupants. Such innovations and new launches are expected to spur growth of solar shading systems market, encouraging manufacturers to develop advanced systems.
Significant Opportunities for Growth of Solar Shading Systems Market to be witnessed in North America
Developed economies in North America are expected to showcase high growth potential apropos to demand for solar shading systems. This can be attributed towards rising home modeling investments in the region, backed by growing GDP per capita of individuals. According to JCHS (Joint Center for Housing Studies), over US$ 400 billion is spent on residential remodeling and renovation every year in United States. According to JCHA, individuals are inclined towards healthy homes and adoption of energy efficient products such as solar shading systems, which is expected to drive its market growth in North America.
Solar Shading Systems Market Competition Landscape
Few of the key players in the solar shading systems market are Glasscon GmbH, Alumet, Linak, Solar Shading Systems Inc., Draper Inc., Thermosash and SWFcontract.
Key Elements Included In The Study: Global Solar Shading Systems Market
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