| Report Code: A05986 | Pages: 464 | Mar 2021 | 8250 Views | ||
| Author(s) : Amol P, Amar C | Tables: 434 | Charts: 57 |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Solar Shading Systems Market
Request Now !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.
The COVID-19 pandemic has negatively affected the global solar shading systems market mainly duestoppage in international trade, prolonged lockdowns, and ceased processes in manufacturing and construction industry.
Solar shading systems eliminate the permeation of sun rays in the buildings. Besides, they seek substantial adoption to shield against the overheating of commercial and residential spaces. These systems provide robust architectural solutions and features for solar protection & shading.
Further, they entirely change the look of a refurbished or a new building by making a spectacular design influence while reducing energy costs by lessening solar heat gains. They are suitable for schools, offices, and other public and commercial buildings, both refurbished and new. In addition, solar shading can benefit to meet the energy conservation necessities of building regulations while lowering building running costs and growing comfort for occupants.
In Latin America and the Middle East, increase in demand for solar shading from the residential and commercial sectors is confined to few countries with substantial economic growth. In addition, an increased focus on sustainability and renewables is estimated to contribute to the growth of the market. Latin America experiences substantial adoption and growth in the solar shading systems market. An increase in investment in high-end technological solar shading systems by countries such as Germany, France, and the UK is a key factor that fuels the growth of the market.
A rise in residential construction activities, is estimated to further boost the solar shading systems market growth. According to the German Construction Federation (ZDB) and the German Construction Industry Federation (HDB) this 4% growth in the German construction sector translates to $124.45 billion.
A rise in need of solar shading systems in residential and commercial construction activities, owing to features such as aesthetic look of building, availability in attractive shapes, and colors, fuels the growth of the solar shading systems market.
However, high cost required for installing solar shading is anticipated to restrain the growth of solar shading systems market. For instance, the typical range of an average-sized motorized solar shading system with installation for a residential project is $320-$650 per average window. Moreover, the price of a fixed or retractable solar shading system can cost more in case of a heavier metal blade and sheathing material. This may affect the market in regions where customers prefer less expensive options.
On the contrary, technological advancement such as motorized solar shading system, and sensor based solar shading systems, is anticipated to provide lucrative opportunities for growth of the solar shading systems market.
The global solar shading systems market is segmented on the basis of product type, mechanism, geometry, material, and region. Based on the product type, the market is segregated into the blinds, shades, louvers, and textiles. The blinds segment registered the highest share in 2019. The louver segment is further sub divided into horizontal & vertical, and internal & external.
Based on mechanism, the market classified is into fixed, manual, and motorized. Depending on geometry, the market is divided into horizontal, vertical, and egg-crate. The material segment is further divided into metal, glass, wood, and others
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.
The key players in this market adopted product launch as their key strategies to meet the change in consumer demands. For instance, in September 2019, Lutron Electronics Co., Inc. added proficiencies within its trusted and reliable Sivoia quiet motorized shade product line by introducing Lutron Roller 64. The new Roller 64 product family is equipped with WIDR technology that can support solar shades up to a width of 12 feet, and it is efficient enough to fit into a 4-inch square pocket. In addition, these shades can be built slimmer -- down to 17.5 inches, an inch narrower than its earlier product line.
Key Benefits For Stakeholders
Global Solar Shading Systems Market Segments
By Product Type
By Geometry
By Mechanism
By Material
By Region
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The solar shading systems are broadly used in residential and commercial buildings. In accordance with several interviews conducted, the demand for solar shading systems has increased due to rise in demand for energy savings and solar protection.
Leading companies, such as Hunter Douglas and Kawneer, have witnessed significant growth and expansion of their overall consumer base in the past few years, as they offer numerous types of solar shading systems with attractive features across the globe. Moreover, innovative marketing and positioning strategies have influenced the expansion of the global Solar Shading Systems Market.
According to the perspectives of CXOs of leading companies, the Solar Shading Systems Market is expected to witness significant growth during the study period, due to development in the window industry and surge in the support offered by governments through incentives in the coming years. Besides, the usage of solar shading systems in the application segment such as window and patio buildings, is expected to increase across the world due to lowering of costs of this equipment.
Besides, solar energy being a natural source does not cause air pollution; hence, it is estimated to boost the growth of the market during the forecast period. North America is projected to be the highest revenue contributor, whereas Asia-Pacific is expected to offer lucrative growth opportunities to the key players in this market. However, high initial purchasing costs and increased installation cost of motorized systems hamper the growth of the market. On the contrary, technological advancements such as the implementation of sensors and remote control offer remunerative opportunities for the market.
A. The global solar shading systems market size was $17,550.0 million in 2019 and is projected to reach $21,348.2 million in 2027, growing at a CAGR of 3.9% from 2020 to 2027.
A. The forecast period considered for the solar shading systems market is 2020 to 2027, wherein, 2019 is the base year, 2020 is the estimated year, and 2027 is the forecast year.
A. To get latest version of global solar shading systems market report can be obtained on demand from the website.
A. The base year considered in the global solar shading systems market is 2019.
A. The report for global solar shading systems market doesn’t provide Value Chain Analysis, but if there is a requirement for the same, it could be added as an additional customization.
A. The top ten market players are selected based on two key attributes - competitive strength and market positioning
A. Based on mechanism, the motorized segment is expected to be the most influencing segment growing in the global solar shading systems market report.
A. Based on product type segment in 2019, the blinds segment generated the highest revenue, accounting for around two-fifths of the market share, and is projected to grow at a CAGR of 3.3% from 2020 to 2027.
A. The report contains an exclusive company profile section, where the leading 10 companies in the market are profiled. These profiles typically cover company overview, geographical presence, and market dominance (in terms of revenue and volume sales).
A. The key trending market based on the geometry in the global solar shading systems market is the horizontal segment.
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