PUBLISHER: Allied Market Research | PRODUCT CODE: 1239528
PUBLISHER: Allied Market Research | PRODUCT CODE: 1239528
The global residential solar shading system market was valued at $6.9 billion in 2021 and is projected to reach $10 billion by 2031, growing at a CAGR of 3.6% from 2022 to 2031. Residential solar shading systems are made either of fabric or metals such as aluminum, wood, or iron and are installed at windows, doors, patios, and gardens, to provide solar protection and offer energy savings. Residential sector benefits from its several applications as they add aesthetics to homes by gratifying the architectural coloring and design. Solar shading systems act as a reliable solution covering windows, decks, doors, walkways, and patios. Further, they enhance the beauty of the residential building and shield flooring, artwork, and furniture from sun damage, which in turn is projected to stimulate the growth of the market.
The rise in urbanization drives the demand for new construction buildings and residential construction activities, is expected to upsurge the demand for solar shading system products; thereby, driving the growth of the residential solar shading system market. For instance, in December 2021, according to the German Construction Federation (ZDB) and the German Construction Industry Federation (HDB), 4% growth in the German construction sector reach up to $124.45 billion. In addition, the rise in disposable income of the population in various governments such as India, China, Brazil, and others is expected to drive the adoption of the solar shading system in residential construction activities, which boosts the growth of the residential solar shading system market.
The residential solar shading system market is segmented on the basis of product type, material, mechanism, and region. By product type, it is divided into blinds, shades, louvers, and textiles. By material, it is categorized into metal, glass, wood, and others. By mechanism, it is divided into fixed, manual, and motorized. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key companies profiled in the residential solar shading system market report include Arconic Corporation, Duco Ventilation & Sun Control, Glasscon GmbH, Hunter Douglas N.V., Insolroll Window Shading Systems, Lutron Electronics Co., Inc., Skyco Shading Systems, Inc., Springs Window Fashions, LLC, Unicel Architectural Corp., and WAREMA Nederland B.V.
The key players within the residential solar shading system market are profiled in this report and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the residential solar shading system industry.