PUBLISHER: Grand View Research | PRODUCT CODE: 1406010
PUBLISHER: Grand View Research | PRODUCT CODE: 1406010
The global window coverings market is anticipated to reach USD 60.16 billion by 2030 and it is projected to grow at a CAGR of 8.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. Rising income levels, changing lifestyles, increasing media penetration, and the invasion of other cultures have all contributed to increased consumer expenditure on various designs and luxury homeware. During the forecast period, all of these aspects are expected to present considerable growth possibilities for market vendors. Moreover, with increasing urbanization and globalization trends, home decor has become more popular in both developed and emerging economies such as India, Brazil, and China. This increase in home decor is boosting the demand for window covering in the residential sector.
Moreover, different technologies and improvements, such as sensor-based window coverings, together with an increase in the number of smart homes, provide growth potential. The market faces a challenge from the easy availability of low-quality and counterfeit products at low rates, as well as the major slowing of the supply chain caused by the COVID-19 virus outbreak.
Smart window solutions are bringing connected shades, blinds, and curtains to the home interior, significantly improving comfort and convenience while always maintaining the right balance of natural and artificial light, occupant well-being, and everyday conveniences. For example, at the Consumer Electronics Show (CES) 2020 in January 2020, Somfy, a company that specializes in the motorization and connectivity of interior window coverings, exterior shading products, and access management systems, unveiled its new smart shading and its Sonesse ULTRA 30 WireFree Zigbee Li-Ion motor.
Moreover, with the emergence of COVID-19, home renovations became more popular, although market sellers reported a drop in bespoke window covering sales. This was in keeping with the ban on house visits. In addition, a sizable DIY industry has evolved as a means of facilitating economical restoration.