Major blinds & shades manufacturers increasingly focused on competitive pricing strategies, despite high costs of operation, which has been hurting profit margins in the industry.
DUBAI, UAE / ACCESSWIRE / July 27, 2020 / Future Market Insights: The blinds & shades market is anticipated to cross a valuation of US$ 20 Bn by the end of the assessment period in 2029. The coronavirus has adversely affected the global economy and housing markets. In addition, the contagion has also caused a massive rise in unemployment rates, creating fears of a recession in the near future. These factors are expected to hamper the blinds and shades market in the near term.
"Automation features and energy efficiency requirements are prominent factors that are helping blind and shade manufacturers to sustain sales in commercial and residential settings. Rising numbers of smart home projects will contribute to market developments for the foreseeable future," says the FMI analyst.
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Blinds & Shades Market - Key Takeaways
- Roller shades and blinds have become increasingly popular in commercial spaces, owing to higher potential in reducing energy consumption and optimizing indoor temperature.
- North America is a fast-growing market which accounts to close to 40% of revenues owing to wider ranging options and easier access to modular and customization services.
Blinds & Shades Market - Driving Factors
- Urbanization trends and higher disposable incomes remain the primary sales drivers for sales of shades and blinds.
- Across Asia and Africa, consumers are displaying a growing bias towards western home décor designs which contribute to growth.
- Numerous government initiatives towards affordable housing projects will contribute to adoption rates.
Blinds & Shades Market - Key Constraints
- A highly saturated and competitive market is a key factor which holds back profitability in the blinds and shades industry.
- Rising product quality and durability in recent years has reduced replacements, hurting overall revenues.
The Anticipated Impact of Coronavirus
The coronavirus outbreak is likely to negatively impact major blinds and shades market players, as consumers are increasingly forced to restrict their spending to essential commodities. In addition, factors such as high competition, e-commerce investments, and higher costs of logistics and raw materials are limiting profit margins, and hurting growth prospects in the short term.
Explore the global blinds & shades market report with 147 illustrative figures, 96 data tables and the table of contents. You can also find market segmentation on https://www.futuremarketinsights.com/askus/rep-gb-10783
Key manufacturers in the blinds & shades market include but are not limited to Toso Co. Ltd., Griesser AG, Springs Window Fashions LLC, Legrand, and Lutron Electronics Co. Manufacturers are largely displaying interest in customized offerings and integration of automation technologies, in addition to strategic expansions of critical facilities.
For instance, Kvadrat have introduced a range of modular roller blinds with automated controls through light and heat sensors. Lutron has announced the expansion of its smart window coverings line, with the introduction of a mobile app to optimize indoor sunlight exposure. On the other hand, Caribbean Blinds has announced the expansion of Sudbury-based factory, with the aim of expanding product lines and minimizing lead times.
More About the Report
The FMI's market research report offers detailed insights on blinds & shades market. The market is scrutinized on the basis of product (roller blades, vertical shades, panel blinds, roman shades, venetian blinds, pleated shades, and others), fabric (natural and synthetic), mode of operation (manual and automatic), distribution channel (online and offline), and application (residential and commercial) across seven key regions (North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East and Africa).
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SOURCE: Future Market Insights