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External Blinds Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global external blinds products market was valued at USD 8.2 billion in 2022 and is projected to expand at a CAGR of 6.5% from 2023 to 2030. External blinds are window coverings that are mounted on the outside of a window and provide privacy, insulation, and protection from weather conditions. They are commonly used in commercial as well as residential buildings such as apartments, offices, and factories. They are becoming increasingly popular due to their ease of use, insulation, and low maintenance costs.
Growth in the construction industry is expected to be a major factor driving the market for external blinds products. The expansion of the construction industry is expected to increase the demand for external blinds products. The rising number of residential and commercial construction projects is likely to drive the demand for external blinds products. Furthermore, the increasing popularity of energy-efficient window treatments is expected to drive the demand for external blinds products.
The increasing popularity of smart technology is expected to provide growth opportunities for the external blinds products market. Smart technology-enabled external blinds provide features such as automated movement control and remote access. This technology allows users to control and adjust external blinds via mobile devices or voice commands. Furthermore, many companies are launching products with features such as automated light filtering, temperature control, and motion sensors.
The adoption of external blinds products is expected to rise due to the rising awareness of their benefits, such as energy savings and aesthetic appeal. External blinds help to reduce energy consumption by blocking out direct sunlight, thereby reducing the need for air conditioning during summer. Furthermore, external blinds are available in a variety of styles and colors, helping to enhance the aesthetic appeal of any building.
In addition, factors such as the increasing demand for environment-friendly products and the increasing number of innovations in external blinds products are expected to drive the market. For instance, in March 2021, Hunter Douglas launched a line of external blinds products which are made from recycled materials. This product line is expected to increase the demand for external blinds products due to its eco-friendly nature. Moreover, key players are focusing on introducing technologically advanced products to meet the demands of consumers. For instance, in June 2021, Somfy launched a new range of motorized external blinds products that can be operated using voice commands.
Product Insights
The external blinds segment accounted for the largest market share in 2022. The growth of this segment can be attributed to the fact that it is an innovative and cost-effective way to control sunlight and reduce energy consumption. In addition, the growing demand for external blinds from residential and commercial spaces, as well as the increasing adoption of smart technologies are some of the primary factors driving the growth of this segment. According to a survey conducted by the Institute of Home Science, in 2020, the use of external blinds was the second most popular choice among surveyed homeowners, with almost 20% of the respondents using external blinds.
The motorized external blinds segment is expected to grow at the highest CAGR of 8.2% during the forecast period. Motorized external blinds are becoming popular among homeowners as they provide convenience and control over sunlight and glare. In addition, the growing demand for automated control systems is also driving the growth of the motorized external blinds segment. According to an article published by the Home Automation Association, in 2021, the motorized external blinds system accounted for almost 28.6% of the total home automation system market size.
Distribution Channel Insights
The distributors and wholesalers segment captured the major share of over 41.3% in 2022. The segment is driven by the growing demand for external blinds from homebuilders and the rising number of distributors and wholesalers in the market. Distributors and wholesalers help reach the product to the end user in most efficient manner. In addition, they provide a wider selection of products and services as compared to other distribution channels. Furthermore, they are also involved in the installation, repair, and maintenance of external blinds and provide information related to product prices and offers.
The online segment is anticipated to expand at the highest CAGR of 12.6% over the forecast period. The rising penetration of internet and growing number of online stores offering external blinds are expected to drive the growth of the online segment during the forecast period. Furthermore, the convenience and easy availability of various products has increased the preference for online shopping over the years. Additionally, the presence of various e-commerce platforms such as Amazon, Flipkart, and eBay has also boosted the growth of the segment.
Type Insights
The manual segment accounted for the largest revenue share of 66.3% in the year 2022. The easy availability of manual external blinds and their relatively low cost as compared to motorized external blinds are the major factors driving the segment’s growth. The manual external blinds are operated manually and require minimal maintenance. With the help of the manual external blinds, the user can easily manage the light entering the room, which is the main purpose of using external blinds.
The motorized segment is anticipated to expand at the highest CAGR of 10.7% over the forecast period. The motorized external blinds are operated with a motor, which is connected to a remote or a switch. The motorized external blinds are easy to operate and have a long life span, as compared to manual external blinds. Furthermore, the motorized external blinds can be programmed to open and close at particular times, with the help of a timer, which is a significant advantage over manual external blinds.
Regional Insights
Europe is expected to hold the largest market share in 2022, on account of the rising awareness regarding energy efficiency, as well as increasing investments in the construction sector. For instance, in April 2021, the European Commission announced the European Green Deal to make the transition towards climate neutrality and reduce carbon emissions by 2050. Additionally, the rising demand for home automation systems that enable integration of blinds with smartphones and other digital devices is expected to drive the growth of the market in the region.
The Asia Pacific is expected to witness the fastest growth during the forecast period. This is attributed to the increasing number of construction projects and growing demand for smart homes in the region. Additionally, the rising disposable income of consumers and increasing awareness regarding energy savings are expected to drive the growth of the external blinds market in the region. For instance, in April 2021, the Chinese government announced the “Energy Conservation and Emission Reduction Plan 2021–2025” to reduce energy consumption by 15% by 2025.
Financial Projections
In this part of the external blinds products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your external blinds business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for an external blinds products business comes from the sale of blinds, installation services, and other related products. Here you will find a list with a description of each of them and other possible sources of profit such as the sale of spare parts and components, warranties, discounts and promotions, and after-sales services.
Projecting Expenses
In this section, all the regular expenses related to keeping the external blinds products business running will be described. The list of operating expenses includes rent, wages, materials, supplies, advertising, utilities, insurance policies, and others.
Key companies & market share insights
Some of the key companies operating in the external blinds market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, Hunter Douglas launched the Everwood Collection of external blinds.
– In August 2022, WAREMA launched the Sunsilk range of external blinds which are designed to protect against the sun’s UV rays.
– In October 2022, Luxaflex launched the DuoShade range of external blinds that are designed to reduce energy costs.
Some of the prominent players in the external blinds market include:
– Hunter Douglas
– WAREMA
– Luxaflex
– Somfy
– Louvolite
– Building Products International
– Harol
– Kudos
– Lutron
– SML
Global External Blinds Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global external blinds products market based on product, application, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Roller Blinds
– Roman Blinds
– Venetian Blinds
– Others
2. Application Outlook (Revenue, USD Million, 2017 – 2030)
– Residential
– Commercial
3. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What are the Key Drivers of the Global External Blinds Products Market?
[A]: The growing demand for energy-efficient blinds is a major factor driving the global external blinds products market, as these products are increasingly being used to reduce energy consumption in commercial buildings and homes. In addition, the increasing demand for external blinds due to their aesthetic value, durability, and ease of installation is also propelling the growth of the market.
[Q]: Who are the Leading Manufacturers of External Blinds Products?
[A]: Some of the leading manufacturers of external blinds products include Hunter Douglas, Somfy, Sunscreen, Elero, Bandalux, and Luxaflex.
[Q]: What are the Potential Opportunities for the External Blinds Products Market?
[A]: Growing demand for modern home decor, increasing construction activities, and rising disposable incomes are some of the key factors driving the growth of the external blinds products market. The rising popularity of blinds with automated features is also creating potential opportunities for the market.
[Q]: What are the Major Challenges Faced by the External Blinds Products Market?
[A]: The major challenge faced by the external blinds products market is the high cost associated with these products. Moreover, the lack of availability of skilled labor to install and maintain these products is also a key factor restraining market growth.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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