Impact of COVID-19 on Blinds and Shades Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2019 – 2027
High-tech Blinds and Shades Gaining Prominence in an Innovation-driven Décor Industry
Aesthetics and simplicity play a vital role in today’s infrastructure. New home owners are adopting tendencies to beautify and simplify their interiors with the help of next-gen home décor products, including window blinds and shades. Windows remain the focal point determining the aesthetics of homes and offices, owing to which, major efforts are directed towards improvising their look, presently.
Modern homes and commercial centers are getting a revolutionary look with the continuously innovating décors available in the market. Retailers and vendors in the home décor industry are stacking up newer versions of blinds and shades that provide a whole new look to the interiors.
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Consumers and businesses are opting for technologically-advanced and connected appliances and products to attain ease of operability in their premises. The deployment of next-gen blinds and shades in commercial settings and residences to boost indoor energy efficiency continues to be witnessed. In the recently published extensive study on the blinds and shades market by Transparency Market Research (TMR), analysts have elaborated on the potential opportunities across the market. This study unveils the key factors pushing industry growth, while highlighting the developments made by market competitors.
Progressive Timeline of the Blinds and Shades Industry
The first-known windows were developed during ancient times, with simple slits in masonry walls that only served functional purposes of letting in light and air, and allowing inhabitants to see approaching enemies. The Middle-Ages transformed the implication of windows, as they were turned into beautiful works of art using stained glass. Furthermore, with developments through the latter decades of this age, windows were being embellished with shades. The history of window blinds and shades can be traced back in the 18th century, where roller shades first appeared in European nations. In America, window shades were used in homes and public buildings around the 1780s. By the late 19th and early 20th centuries, blinds were widely adopted in office buildings for light and air regulation.
Timely developments in technology and constant material innovations cited across the globe further stirred new capabilities in blinds and shades. Factors such as the prevalence of smart homes, growing preference for ambience control, increasing focus on interior light management, and growing demand for energy-efficient insulation offerings have translated into growth opportunities for the blinds and shades market. Owing to these factors, the blinds and shades market is expected to reach a value of ~ US$ 11.7 Bn in 2019.
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Impact of Undercurrents on the Market
Prominence of Smart Blinds and Shades
While technological developments continue to revolutionize industries by means of triggering rapid operations through automated tasks, digitalization has also driven the path of innovation in the blinds and shades market. Smart blinds and shades that can be controlled with the click of a button and motorized offerings that make use of rechargeable batteries for their functioning, are making operations easier.
Customization for the Win
As individualized products and customized offerings continue to capture the attention of modern consumers, providers of blinds and shades are also looking for opportunities to cash in on this trend. Layering window blinds and shades help introduce subtle colors, textures, and patterns to a room. Moreover, customized functionality offered along with varying materials for consumer-preferred needs such privacy and light control are expected to change the face of the blinds and shades market over the coming years.
Solar Shading Technology Gaining Impetus
Solar shading is a technology that has been introduced in shades in an attempt to reduce indoor energy consumption. These solar shades control and optimize the amount of solar heat entering inside a building. Dynamic solar shading technology helps lower energy consumption significantly, while providing the ideal living and working comfort.
Availability of Substitutes to Create Challenges
Although blinds and shades are mostly cost-effective, the availability of relatively inexpensive substitutes such as tie-up curtains, grass shades, and rollers and shutters are expected to create challenges for blinds and shades market competitors. Furthermore, the greater efficiency, security, and longer shelf life of substitutes such roller shutters are likely to further hinder market growth.
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Key Winning Strategies for Blinds and Shades Market Competitors
Expand Venetian Blinds Portfolio
Being a relatively cost-effective and consumer-favorite product, venetian blinds are anticipated to remain a profit-generating product portfolio. Although Roman shades and blinds was the leading product type in 2018, venetian blinds are expected to pick up pace over the course of the forecast period. As the use of venetian blinds enhances the minimalism and simplicity of rooms, adding to their beauty, consumer preference for this product continues to grow. Moreover, these blinds break the monotonous design of rooms, and are highly adjustable according to the amount of natural light entering the room.
Develop Synthetic Fabric-based Products
Synthetic fabrics are expected to account for a major share in the global market. As synthetic fabrics are strong and require lesser maintenance, synthetic fabric-based products are gaining major significance among consumers. They are not susceptible to rust, cracking, and bowing, owing to which, companies are developing more blinds and shades employing synthetic fabrics.
Formulate Products having Automated Control
Automated control is expected to disrupt the blinds and shades industry, as consumers have attained greater personalized control on the management of light and air. With smartphone-enabled operations, consumers are able to make the most these systems, driving the demand for automatically-controlled blinds and shades. Companies are therefore directing their investments towards the development of these products. Another significant innovation that could transform the blinds and shades market is the development of blinds integrated with voice recognition technologies.
Scrutinizing the Competitive Landscape
In 2018, Hunter Douglas was awarded with three R+T Innovation Awards 2018, among which, two awards were granted for its GreenScreen Sea-Tex, and one for its Luxaflex Pirouette Shades.
In 2019, Mecho, a global leader in commercial window coverings, acquired by Springs Window Fashions, introduced SolarTrac 4.0, a technologically-advanced automated window shading control system developed to maximize occupant and building performance with the help of daylight management.
Being a capital intensive market, the threat of new entrants remains moderate in the blinds and shades industry. This is further attributed to the consumer preference for specific brands, which has led to the leadership of established companies. Both, global and local companies have their targeted client base, thereby creating high rivalry among them. With a substantial market share held by leading players in the blinds and shades market, there is moderate consolidation of leading competitors witnessed. New product development strategy remains a key approach to attain profitability for leading providers of blinds and shades. Moreover, as the demand for electromechanical and digital solutions continues to grow, regions such as Europe and North America are significantly employing automated blinds and shades in their commercial and residential spaces. Owing to this, leading players are focusing on expansion in these regions.
Analysts’ Perspective
TMR analysts have a positive perspective of the market. With the growing prevalence of e-Commerce and online retail platforms, online distribution is cited as a profitable distribution channel to meet the needs of tech-savvy consumers. Investments towards expanding distribution across online platforms could help new entrants win over consumers, as remodeling the supply chain helps cut down overall product costs. With major demand for blinds and shades created across Asia Pacific countries, owing to the continuously expanding construction sector and increasing rate of home renovations, competitors are eyeing significant opportunities across the region. As such, new entrants can direct their expansion efforts towards this region. Another factor that can help gain profits is to focus on the style profiling of consumers to help competitors articulate consumer preference and narrow down the range of choices, thereby allowing them to offer customized products.
Blinds and Shades Market: Definition/Overview
- Blinds and shades are lighting control products used on windows and doors.
- A unit of automatic blinds and shades comprises shades/ blinds, motor, sensor, remote, and other accessories. These products have a sensor that detects the sunrays and wind, and pulls down the blinds.
- Blinds and shades offer protection from the wind, sunrays, and dust. Consumers majorly prefer blinds and shades due to easy availability, less cost, and easy installation.
- Blinds and shades have two types of sensors: solar/ sun and wind. Solar/ sun sensors detect the sunrays and use a wireless motorized system to pull down the blinds and shades; wind sensors detect the flow of wind and pull down the blinds to protect the dwelling against dust and rain.
- The global blinds and shades market was valued at ~ US$ 11.3 Bn in 2018.
- Projected to grow at a CAGR of 3.5% during the forecast period, the global blinds and shades market is expected to reach a valuation of ~ US$ 15.4 Bn by 2027.
Global Blinds and Shades Market: Regional Overview
- Asia Pacific is likely to be the most attractive region in the blinds and shades market during the forecast period, due to the steady adoption of household appliances. Manufacturers are keen on entering the Asia Pacific region in order to grab significant market share.
- Asia Pacific and Europe dominated the overall blinds and shades market due to the preference for premium brands among the population and increasing number of households in these regions.
- As compared to other regions, North America and Europe are expected to see slower growth rates in the market during the forecast period.
Global Blinds and Shades Market: Trends
- Consumers prefer to use venetian blinds due to easy availability in different colors and material, which increases their popularity. Venetian blinds are also very easy to use. Ultra violet protection blinds and shades are popular among consumers due to their ability to block UV rays.
Global Blinds and Shades Market: Drivers, Opportunities, and Restraints
- Increasing number of hotels and restaurants, and regulations laid down by governments and associations regarding cleanliness and hygiene are major drivers boosting the blinds and shades market. The rising preference for e-Commerce among consumers further boosts the expansion of the blinds and shades market.
- Growth in awareness about health, and benefits of blinds and shades, are important factors creating huge opportunity for the blinds and shades market across the world. Increasing preference for blinds and shades in developing countries further drives the market.
- Soil erosion and increase in construction activities have resulted in increased pollution levels, leading to the accumulation of soil in indoor locations such as apartments, houses, villas, offices, and restaurants. Consumers prefer to use blinds and shades for protection from the dust and sunrays.
- Rise in the adoption of IoT devices and increase in the popularity of blinds and shades with smart features are expected to drive the blinds and shades market during the forecast period. Additionally, some manufacturers are using an Android operating system to operate the blinds and shades, which has increased the usability of the product.
- Manufacturers are innovating their products and incorporating them with auto on-off, UV protection, etc.
- However, the high maintenance cost of automatic products and the presence of substitutes are expected to hamper the market during the forecast period.
Global Blinds and Shades Market: Competition Landscape
The blinds and shades market is fragmented due to the presence of several players. Competition is expected to intensify in the coming years with the entry of several local players. Key companies profiled in the research report include
- Ching Feng Home Fashions Co., Ltd.
- Griesser AG
- Hunter Douglas NV
- Lafayette Venetian Blind Inc.
- Legrand
- Lutron Electronics Company
- Mechoshade Systems LLC
- Nien Made Enterprise Co. Ltd.
- Persianas Canet S.A
- Qmotion Shades
- Schenker Storen AG
- Solarfective Products Limited
- Springs Window Fashions
- LLC
- TOSO CO. LTD
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