The global window covering market size is expected to grow steadily throughout the forecast period. Windows are an essential part of the buildings, which make the task of living in an enclosed space possible as it provides ventilation and visual communication with the external world whenever desired. Window coverings are the attachments that help modify the characteristics of the window, by altering the passage of sunlight, sound and air. Thus, making the interior space more comfortable. Window coverings are mainly divided into blinds, shades, and shutters which come with are available in a variety of materials, colours, textures and styles which make it suitable for use in residential spaces, commercials buildings and institutions as well. These factors positively influence the growth of window covering market in the forecast period. With the increasing urbanization, the number of buildings for human habitat, work services is ever increasing thus rising the demand for window coverings and being a major driving force for the growth of window covering market.
Window coverings are basically an accessory for the basic windows, which make basic windows customizable according to the requirement. The rising temperature and increasing temperature in metropolitans has made window coverings a must to keep the interior spaces of the building comfortable. Along with necessity, window coverings also form a vital part of modern interior designing. The rising demand for residential and commercial buildings the primary factor for the rapid growth of window covering market in the forecast period.
COVID-19 Impact analysis
- COVID-19 pandemic has shut-down the production of various products in the window coverings industry attributed to the lockdown in countries worldwide. This has hampered the growth of window coverings from the last few months and is likely to continue during 2021.
- COVID-19 had affected the sales of window coverings in the second quarter of 2020 as the demand of window coverings witnessed a steep decrease due to restrictions in construction activities. Major players in the real estate industry decreased the construction of residential and commercial buildings in the wake of reducing demand because of COVID-19.
- The major demand for window coverings was previously noticed from countries including the U.S., China, the UK, Germany, France and India which are negatively affected by the spread of the COVID-19, thereby decreasing the demand for window coverings.
- The decrease in income due to COVID-19, directly affected the spending of masses thud decreasing the demand for COVID-19.
- COVID-19 pandemic also negatively affected the window covering manufacturing units due to the restrictions laid on factory operations. Window Covering manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Window covering manufacturers can afford declining sales only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce the expenses. Whereas few players also adopted employee lay-offs to sustain during the COVID-19 health crisis.
Top Impacting Factors
As the number of developing countries increase, the demand for residential and commercial buildings has increased significantly which is a major driving force for the window covering market. The wide range of materials, colours, textures, and styles available in window coverings act as an attracting factor for potential customers. Increasing demand of work spaces as well as hotels and other social buildings will continue to drive the demand for blinds and shades. The window coverings such as blinds and shades have the ability to alter the passage of light and heat according to the requirement. Additional features such as automatic closing and opening offer a sense of luxury to the users. The increasing costs of raw materials and the uncertainties in the real estate market are the restraints to the growth of window covering market. The increasing popularity of interior designing and smart homes will continue to positively influence the growth of window coverings market.
- The rapid growth of residential and commercial buildings in emerging economies of Asia-Pacific region is expected to exponentially drive demand in the window covering industry on the account necessity and easy usability.
- As major Middle Eastern countries concentrate on developing the tourist industry, resulting in the large number of hotels and resorts has been a driven factor the demand of window covers considerably.
- IKEA launched KADRILJ and FYRTUR which are blinds that can be controlled wirelessly by remote control. Thus, Innovation and technological developments is proving to be a driving factor for the growth of the industry throughout the forecast period.
- Blinds and shades have been a major contributor in the total sales of window covering market.
- The key players of the industry are also focusing on developing blinds and shades that can be effortlessly installed by the end user without the requirement of a professional.
Key Benefits of the Report
- This study presents the analytical depiction of the window covering 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 window covering market share.
- The current market is quantitatively analyzed to highlight the mobile window covering market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed window covering market analysis based on competitive intensity and how the competition will take shape in coming years.
The Window Covering Market Report Highlights
By End-User Industry
By Business Type
Key Market Players
Skandia Window Fashion, Lafayette Interior Fashion, Comfortex Window Fashion, Lotusblind, Bombay Dyeing, Hunter Douglas, Welspun India Limited, Springs Window Fashions, LLC, MechoShade Systems LLC, Newell Rubbermaid