Solar Shading Systems Market is Expected to Reach $21.34 Billion by 2027-Allied Market Research

According to a new report published by Allied Market Research, titled, “Solar Shading Systems Market by Product Type, Mechanism, Geometry, and Material: Opportunity Analysis and Industry Forecast, 2020–2027,” The global solar shading systems market size was $17,550.0 million in 2019, and is projected to reach $21,348.2 million by 2027, registering a CAGR of 3.9% from 2020 to 2027. Based on product type, the blinds segment held over 40.0% of the global solar shading systems market share in 2019 and is expected to witness significant growth during the forecast period.

Individuals have become more focused toward lowering energy consumption. Hence, they have started to install motorized or fixed solar shading systems to keep their houses cool in summer. These solar shading systems serve as a profitable solution to avert harmful UV rays from damaging artwork, furniture, and floor in the residential and commercial spaces. A rise in demand for solar shading system installation in the residential and commercial sectors to intensify the use of available outdoor spaces is catering to the growth of the global solar shading system market. However, the high installation cost and initial purchase of retractable are projected to hamper the growth of the solar shading system industry.

The solar shading systems market has observed significant growth over the past decade, owing to implementation of newer state-of-the-art technologies in the solar shading systems. In addition, upsurge in investments in the construction industry across the globe are projected to positively influence the global solar shading systems market growth. Several players such as Hunter Douglas, Springs Window Fashions, and Lutron Electronics Co., Inc. are expanding their business worldwide owing to the augmented customer base, improved effective operations, expanded geographical reach, and developed product portfolios.

This is predicted to lead to the development of the global solar shading systems industry. 

The development of the global solar shading system market is driven by advances in fabric material and the need for the beautification of commercial as well as residential buildings. In addition, the capability of solar shading systems can be used to surge the utilization of veranda, patio, and garden, which is anticipated to boost the growth of the solar shading system market. Furthermore, technical advances that include motorized and manual retraction mechanisms have led to the development of the market. 

Nevertheless, unreliable harsh weather conditions hamper the development of the solar shading system industry, explicitly in areas that are susceptible to heavy rainfall and snowfall. On the contrary, technological developments such as the introduction of remote control, sensors, and others, are expected to offer remunerative opportunities to the key market players. Protection from sun, developments in fabric material, and expansion of the living space are expected to stimulate the growth of the solar shading system industry.

On the basis of mechanism, the motorized segment is expected to account for the largest share in the global solar shading systems market during the forecast period, due to surge in demand across Europe and North America. By geometry, the horizontal segment is anticipated to be the chief revenue contributor, increasing at a substantial CAGR during the study period. This is attributed to a rise in commercialization where solar shading systems are used to intensify the application and augment the visual appeal of windows, patios, & outdoor spaces.

Region-wise, the solar shading systems market is analyzed across North America (Mexico, and rest of North America), Europe (Germany, France, UK, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Thailand, Taiwan, Vietnam, Australia, and Rest of Asia-Pacific), Latin America and Middle East (Brazil, Colombia, Costa Rica, and Rest of Latin America and Middle East, and Africa (South Africa, Kenya, and Rest of Africa). North America is expected to dominate the market throughout the forecast period. Asia-Pacific is projected to experience high growth during the forecast period owing to expansion of the construction industry in the region.

The key market players profiled in the report of the global solar shading systems market include Duco Ventilation & Sun Control, Glasscon GmbH, Hunter Douglas, Insolroll, Kawneer, Lutron, Skyco Shading Systems, Inc., Springs Window Fashions, Unicel Architectural, and WAREMA Nederland B.V.

Key Findings Of The Study

• The report provides an extensive analysis of the current and emerging market trends and dynamics.  
• By product type, the blinds segment registered the highest revenue in the solar shading systems market in 2019.
• Depending on the material, the metal segment dominated the solar shading systems market, in terms of revenue in 2019. 
• By mechanism, the motorized segment registered the highest revenue in the solar shading systems market in 2019.
• Asia-Pacific is projected to register the highest growth rate during the study period. 
• North America accounted for over 41.2% of the share of the global solar shading systems market in 2019. 
• The key players within the market are profiled in this report, and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the solar shading systems industry. 
• The report provides an extensive solar shading systems market analysis, trends and emerging opportunities of the market.  
• The global solar shading systems market forecast analysis from 2020 to 2027 is included in the report.