Global shutters market: Global Opportunity Analysis and Industry Forecast, 2022-2029 Market

Shutters are a type of window or door with horizontal slats that are hinged together. Shutters are mainly installed to reinforce protection from theft, break-ins, robberies, vandalism or arson and environmental hazards like wind, rain, fire and harsh climatic conditions. Shutters are used widely in shops, warehouses, commercial buildings, garages, and many other end use areas due to the increasing need for safety and security, given the rising global crime rate. Shutters may be installed along with normal doors and windows to provide extra protection. Shutters are convenient to use as they can be easily rolled up or down to open or close an entrance. 

­Market scope and structure analysis:

COVID-19 scenario analysis:

• Coronavirus has affected the import and export of construction materials. China is the largest exporter of construction materials globally. Negative trends in the economy of China are anticipated to reduce the global import and export throughout the globe.
• Demand for new construction materials have witnessed a massive negative shift since the corona outbreak in December 2019, with manufactures and investors fearing an excessively receding economic growth.
• Travel prohibitions around the globe have affected the trade of construction materials. Thus, the supply and demand for construction materials are almost halted throughout the globe.
• Construction materials manufacturing companies located in China, are the major sufferers of from the virus outbreak, owing to lockdown and unavailability of logistics in the region.
• The major hindrance for the global construction materials market comes from the orders of home quarantine by respective governments, which has led to the discontinuing of production of construction materials.
• Decreased consumer demand and consumption has led to reduction and slowdown of sales of construction materials all over the globe over the course of the current economic year.
• Therefore, the global shutters market is expected to be negatively affected in 2020.

Top impacting factors: Market Scenario Analysis, Trends, Drivers, Opportunities, Restraints and Impact Analysis

Shutters are mainly installed for safety and security concerns. Shutters are used as to provide insulation and protection to doors and windows from inclement weather conditions. Rising global construction activity and increasing infrastructure development around the world are expected to help the global shutters market grow. Advancements in technology and material science have led to development of shutters with reduced weight and automated shutter systems are also available. Shutters find application in shops, warehouses, restaurants, commercial buildings, shopping malls, garages, schools, prisons, residential buildings and even some vehicles like trucks, vans, recreational vehicles and food trucks among others. However, one of the restraining factors for the growth of this market is the higher cost of shutters in comparison to traditional doors and windows. Also, the presence of alternatives and substitutes further restricts the market growth. In keeping with the growing trend of automation and digitization of almost all technology, automated shutters are also growing in popularity. These automated shutters are also available in the market with integrated doors or windows. The automated shutters segment is expected to provide the new opportunities for growth of the global shutters market.

The global shutters market trends are as follows:

Growing number of shopping malls

Shopping malls have grown in number all over the world and are now commonly available in multiple locations within the same city and even small townships. Rapid urbanisation and growth of global population, along with the increasing disposable income levels and subsequent lifestyle changes of the average consumer around the world is aiding the growth of shopping malls the world over.  

The global retail sector is being influenced largely by shopping malls as shoppers increasingly show their preference for the atmosphere of clean, vibrant, climate-controlled and highly-enabled malls rather than in the scattered individual stores. Shopping malls also attract customers because of the recreational atmosphere present due to the addition of food courts, movie theatres and gaming areas among other attractions. The average footfall in shopping malls around the world is growing day by day as both buyers and sellers, are attracted by the readily available assortment of stores, competitive sales promotions and offers. The increasing need for safety to protect the valuable and stock inside these stores is allowing the shutters market to expand as these stores often opt for high end and advanced options from the shutters catalogue. The growth of shopping malls is thus expected to help the global shutters market grow as the large number of stores are a major end use segment of shutters.

Growth of commercial and residential construction and public infrastructure projects worldwide

According to data from the United Nations (U.N), more than 54% of global population is living in urban areas. Due to the factors of growing population, urbanisation and increased construction activity around the world, the global shutters market is expected to expand. The number of shops, shopping malls, restaurants, other public establishments, industrial plants and commercial office spaces, are growing globally as global population and urbanization increases. Schools, hospitals and other public facilities are being built, expanded or updated. Growing number of nuclear families is also causing growth of the global shutters market due to safety concerns. Private real estate development and individual residential construction projects are also growing as global population and urbanization increases. Increasing need to improve security and safety, due to the rising global crime rate is a key factor contributing towards the increasing growth of the global shutters market. The wide application of shutters from residential to commercial sector is expected to help the market grow in the future.

Key segments covered:

Key benefits of the report:

• This study presents the analytical depiction of the global shutters market industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global shutters market share.
• The current market is quantitatively analyzed from 2019 to 2027 to highlight the global shutters market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed global shutters market analysis based on competitive intensity and how the competition will take shape in coming years. 

 Global shutters market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights