Smart Living and Higher Purchasing Power Drives Window Blinds Market
Window blinds are increasingly gaining traction in urban landscapes as they offer aesthetic as well as convenience with anti-dust and fabricated features. With features such as slats, they can be angled up or down to direct sunlight. Thus, it enables the user to control the light entering the room and protect one’s skin and furniture from radiation. Window blinds also have varying thermal effects to block out unwanted heat. Furthermore, they can be customized by using different materials, such as wood and plastic.
Window blinds have gained momentum in recent years as they can be used for all types of large windows, sliding glass doors, bow windows, or fabricated fixed glass windows. These can be operated both manually or through smart connectivity. Thus, advanced features coupled with increased consumer spending power to transform living to smart living is expected to drive the global window blinds market demand between 2021 and 2025.
The growing real estate industry and rapid urbanization are also responsible for the high demand for window blinds. With the increased disposable incomes, the real estate industry is focused on offering modern products that simplify living. This has led to partnerships with players in order to create smart building infrastructures with stylish looks. Smart window blinds are becoming the new choice for builders for home and office infrastructure.
To cater the growing demand for smart window blinds manufacturers are launching new products. For instance, in 2019, IKEA, a European home product giant, introduced smart blackout window blinds that will be part of its smart home lighting series. According to the company, the blinds are wireless, battery-powered, and can interact with the Amazon Alexa and Apple HomeKit.
Residential and Commercial Segments See Growth as Blinds Become Fashionable and Functional Choice
The global window blinds market is segmented on the basis of product type, end use, sales channel, and region. Based on product type, the market is segmented into horizontal, vertical, roll up, and roman blinds. Among all of these, the horizontal blinds segment is estimated to hold potential value share by the end of 2025 due to wider availability in the local markets. Residential and commercial places such as offices and malls are expected to drive the segment over the forecast period.
Based on end use, the market is segmented into residential, commercial, and industrial. The residential and commercial segments are expected to attain robust growth over the forecast period. Increased number of modern housing projects coupled with the rising number of commercial spaces is expected to fuel the segment growth over the forecast period. By sales channel, the market is segmented into business to retailers, distributors, online, and commercial.
Growing Real Estate Industry to Drive Market Growth in Developing Nations
Europe and North America are collectively estimated to account for the largest value share in the global window blinds market. As the average age of housing stock trends upwards, homeowners are likely to update their living standards to a premium outlook with luxury products. A majority of builders are also suggesting blinds for glass windowpanes as a cleaner, safer, and modern alternatives leading to the market growth in the country.
Meanwhile, Asia Pacific is expected to register a relatively high CAGR in the global window blinds market. Rising disposable income coupled with rapid urbanization such as increased spending on commercial infrastructure is expected to drive the market growth in the region. Moreover, the growing hospitality industry is also creating opportunities in the region. Developing nations such as India is set to reflect higher potential as the country’s real estate is expected to reach more than US$800 billion market by 2028.
Global Window Blinds Market: Key Players
The key players operating in the global window blinds market are Elite Window Fashions, Budget Blinds, Inc., Hillarys Blinds Limited, Springs Window Fashions, LLC., Hunter Douglas, Inc., Stevens (Scotland) Limited, Newell Rubbermaid, Advanced Window Products, Inc, Next Day Blinds Corporation, and Canadian Blind Manufacturing Inc.