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Window Covering Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global window covering products market was estimated at USD 10.2 billion in 2022 and is projected to reach USD 17.7 billion by 2030, growing at a CAGR of 6.9% during the forecast period. The growth of the market is attributed to the increasing demand for energy-efficient and aesthetic window coverings such as blinds, shades, and shutters across the residential and commercial applications. The increasing demand for automated systems and energy-efficient products is further driving the market growth. For instance, in December 2021, Hunter Douglas launched the new C.O.R.E.TM Collection, providing customers with the most energy-efficient window coverings available.
The increasing focus on interior designing coupled with the changing lifestyle has led to an increase in the demand for aesthetic window coverings. The growing trend of using natural materials for window coverings is driving the market growth. Furthermore, the increasing demand for motorized and automated window coverings due to the availability of low-cost motors is boosting the market growth. For instance, in May 2021, Hunter Douglas launched Duette SmartSync, a motorized operating system for blinds and shades. The system can be operated from anywhere via mobile applications and voice-activated devices, such as Amazon Alexa, Google Home, and Apple HomeKit.
The rising demand for sustainable and eco-friendly window coverings is expected to drive the market growth. Manufacturers are introducing new eco-friendly products that are free from toxins and harsh chemicals. For instance, in March 2022, Lutron launched a new collection of energy-efficient shades made from recycled materials. The shades are made from a combination of bamboo and recycled plastic bottles, providing a sustainable solution for window coverings.
The increasing focus on energy efficiency is driving the demand for window coverings in the residential and commercial sectors. Additionally, the growing adoption of smart technologies, such as automation, is expected to drive the market growth. For instance, in April 2021, Somfy launched its new range of automated window coverings that enables users to control their window coverings remotely or via voice control. The company also launched a new application that allows users to control their window coverings from anywhere. Furthermore, the increasing demand for energy-efficient window coverings is expected to further boost the market growth.
Product Insights
The blinds and shades segment accounted for the largest market share of around 42.4% in 2022. Growing demand for automated and motorized window covering products is one of the major factors driving the market growth. According to an article published by the National Science Foundation, in April 2020, motorized blinds are increasing in popularity due to their convenience and aesthetic appeal. Furthermore, increasing inclination towards eco-friendly materials such as bamboo and jute, and rising consumer preference for automated window covering products is also driving the market growth revenue.
The shutters segment is expected to register the fastest CAGR of 8.7% over the forecast period. Shutters offer privacy and insulation, while also providing an aesthetic appeal to the windows. The rising demand for energy-efficient window coverings and increasing consumer expenditure on interior designing are some of the key factors driving the growth of the shutters market. In addition, the increasing trend for eco-friendly materials for window covering is also expected to propel market growth.
Distribution Channel Insights
The departmental stores segment is anticipated to hold the largest share of the window covering products market in 2022. The growth of this segment is mainly driven by the increasing number of departmental stores in emerging countries such as India and China. Moreover, departmental stores provide a wide range of window covering products, thereby making them the preferred destination for window covering product purchases. Additionally, departmental stores often provide discounts and offers on various window covering products, which further boosts the segment’s growth.
The online segment is expected to register the highest CAGR of 8.2% during the forecast period. The rising internet penetration and the increasing preference for online shopping among consumers are the major factors driving the online segment. Online stores provide various window covering products, including curtains, blinds, shutters, shades, and others. Moreover, online stores often provide discounts and offers on products, which further drives the segment’s growth.
Type Insights
The blinds segment accounted for the highest revenue share of 46.3% in the year 2022. Increasing adoption of blinds in residential and commercial spaces as they provide a modern, stylish look and give precise control over light filtering is driving the demand for blinds. Furthermore, the increasing trend of automation is propelling the demand for motorized blinds. For instance, in January 2021, the Hunter Douglas Group launched the new Powerview Motorization Platform, which allows users to schedule, control, and operate their window coverings with the Powerview app. This platform is helping the company to strengthen its product portfolio and gain an edge over its competitors.
The shades segment is anticipated to expand at the highest CAGR of 8.8% over the forecast period. Shades are becoming popular for their energy-saving properties, which is driving the market for shades. For instance, in December 2019, the 3 Day Blinds launched the new energy-efficient window treatments, which provide energy savings up to 25%. This product helps users to save energy and cost. Moreover, the increasing demand for window coverings for controlling light transmission and providing décor to the interiors is further anticipated to drive the market for shades over the forecast period.
Regional Insights
North America was the largest regional market in 2022 and accounted for a revenue share of over 30.2%. The presence of prominent players, such as Hunter Douglas, Graber, and Levolor, offering a wide range of products, is the key factor behind the large share of the region in the market. The region is a major exporter of window covering products, which is expected to further drive the demand for these products in the market.
Europe is expected to witness the fastest growth in the coming years, owing to the increasing popularity of smart home technology in the region. Moreover, the presence of several prominent players, such as Lutron, Somfy, and Velux, is further expected to drive the growth of the market. For instance, in April 2022, Velux launched the Korma motorized natural light system in the European market.
Financial Projections
In this part of the window covering 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 the window covering products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a window covering products business comes from sales of window blinds, shades, shutters, and curtains. Other possible sources of profit include installation fees, commission from sales representatives, and the sale of accessories.
Projecting Expenses
In this section, all the regular expenses related to keeping the window covering products business running will be described. The list of operating expenses includes warehousing and storage fees, wages, maintenance and repairs, utilities, insurance policies, advertising, and others.
Key companies & market share insights
Some of the key companies operating in the window covering products 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 August 2022, Hunter Douglas launched the new PowerView Motorization product line for window coverings, which can be controlled through a mobile app.
– In September 2022, Levolor launched an updated version of their Solar Shades product line, designed to reduce energy costs and block damaging UV rays.
– In October 2022, Lutron launched the new Sivoia QS Triathlon window covering product line, designed to provide superior light control and convenience.
Some of the prominent players in the window covering products market include:
– Hunter Douglas
– Levolor
– Lutron
– Bali Blinds
– Kirsch
– Graber
– Comfortex
– Springs Window Fashions
– Horizon Window Fashions
– Select Blinds
Global Window Covering 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 window covering products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Blinds
– Shades
– Shutters
– Draperies
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Online
– Offline
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Manual
– Motorized
4. 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 Major Drivers for the Global Window Covering Products Market?
[A]: The global window covering products market is primarily driven by factors such as the increasing demand for smart and automated window coverings, rising popularity of energy efficient window coverings, growing demand from the hospitality sector, and increasing disposable income of consumers. Moreover, the growing trend of smart home solutions and advancements in technology are expected to drive the market further.
[Q]: What are the Key Segments in the Global Window Covering Products Market?
[A]: The global window covering products market is segmented into product type, end-use, and region. By product type, the market is segmented into blinds, shades, shutters, and others. By end-use, the market is divided into residential and commercial.
[Q]: What is the Potential of Product Innovation?
[A]: The window covering products market is witnessing a rise in product innovations, such as automated window shades, energy efficient window coverings, and smart home solutions. The introduction of such innovative solutions is expected to increase market growth over the forecast period.
[Q]: Who are the Key Players in the Window Covering Products Market?
[A]: Some of the key players in the window covering products market are Hunter Douglas, Somfy, Window Covering Solutions, Spring Window Fashions, Next Day Blinds, Comfortex, and Louverdrape.
[Q]: Which Region Offers the Largest Opportunity for Sales of Window Covering Products?
[A]: North America is expected to be the largest regional market for window coverings, due to the increasing demand from residential and commercial sectors. The region is also expected to witness the highest growth rate over the forecast period.
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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