Window Covering Market Size, Share & COVID-19 Impact Analysis, By Type (Blinds & Shades, Shutters, Curtains & Drapes, and Others), By Technology (Manual Covers and Smart Covers), By Application (Residential and Commercial), By Distribution Channel (Offline and Online), and Regional Forecast, 2021-2028

The global window covering market size was USD 10.83 billion in 2020. The market is projected to grow from USD 12.42 billion in 2021 to USD 17.43 billion in 2028 at a CAGR of 4.96% during the 2021-2028 period. The global impact of COVID-19 has been unprecedented and staggering, with window coverings witnessing a negative impact on demand across all regions amid the pandemic. Based on our analysis, the global market exhibited a lower growth of 19.83% in 2020 as compared to the average year-on-year growth during 2017-2019. The rise in CAGR is attributable to this market’s demand and growth, returning to pre-pandemic levels during the post-pandemic phase.

Recent developments in the digital space are expected to have a positive influence on the global market throughout the forecast period. For instance, in July 2021, Snap One, LLC., U.S.-based company specializing in smart home products, collaborated with Telecommunications Services of Trinidad and Tobago Limited (TSTT), a telecommunications company in Trinidad and Tobago, to provide wireless home automation and security systems to the region’s telecom customers. This strategic move (partnership) is expected to allow users of bmobile (a Snap One, LLC. Brand) benefit from voice control for audio, lights, smart window shades, and other home technologies.

COVID-19 IMPACT

Disruptions in Supply Chain Management to Slow Down Growth Rate Amid Pandemic

The impact of the COVID-19 pandemic on the textile industry has a direct and adverse impact on the global window covering market growth. In this respect, severe disruptions in the textiles industry, most notably in Asian countries such as India and China have strongly affected the global market. While temporary closures of offline distribution channels have significantly affected product sales in the residential sector, a ban on domestic and international tourism had a negative impact on the commercial sector, notably in 2020.

Numerous window blinds/ window treatment companies have stepped up their efforts to gain greater brand reputation during the COVID-19 pandemic by shifting their focus to personal protective equipment (PPE). For instance, in April 2020, Polar Shades Sun Control, a U.S.-based manufacturer of exterior and interior shades, shifted its focus from blinds to the mass production of PPE (surgical masks, face shields, and gowns) amid severe PPE shortages in the U.S. owing to the COVID-19 outbreak.

LATEST TRENDS

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Increasing Adoption of Environment-Friendly Products to Stimulate Growth

The increasing demand for environment-friendly products is expected to encourage new players’ entry into the market over the forecast period. While market leaders such as Hunter Douglas have successfully exploited the business opportunities in the green blinds over the years, other companies such as the U.K.-based Apollo Blinds are using innovative approaches to offer covering products made using recyclable and environment-friendly fabrics. Green materials, such as bamboo for blinds, break down in landfills faster than man-made fabrics/materials. Therefore, due to the growing acceptability of bamboo across a wider range of consumers, there are significant potential for prospective window blinds and shades companies that use bamboo as their primary raw material. At a macro level, the growing hospitality industry is expected to drive market expansion throughout the forecast period.

DRIVING FACTORS

Booming Real Estate Industry to Favor Market Growth

The booming real estate industry is likely to favor market growth during the forecast period. The U.S. market is predicted to retain its position as one of the most prominent markets for window blinds in across the globe over the forecast period. The growing popularity of constructed, modular, and prefabricated homes is expected to boost demand for blinds in the near future across the country. The Indian real estate market has witnessed significant growth over the years. According to the India Brand Equity Foundation (IBEF), the Indian residential sector is expected to witness considerable growth in the coming years backed by government assistance. For instance, in June 2015, the Government of India (GoI) launched the Pradhan Mantri Awas Yojana (PMAY) initiative aimed at building 20 million houses in the country (across urban areas) by 2022. As of August 26^th 2021, the initiative/scheme received a financial assistance of approximately 31 billion from the GoI.

Technological Innovation Paired with Increasing Government Support to Bolster Market Progress

Recent developments in the textile industry, most notably in Asian countries, is likely to encourage new players’ entry into the blinds sector in the coming years. For instance, in February 2021, the GoI proposed a scheme for establishing mega textile parks in India in its Budget 2021-22 to strengthen the domestic textile industry and attract sizable investments. From a manufacturing standpoint, such government support is likely to translate into cheap availability of labor and raw materials.

Driven by an increasing consumer interest in innovative blinds, numerous players operating in the home furnishing space have stepped up their efforts to exploit the business opportunities in this market in the recent past. For instance, in February 2019, IKEA, a Sweden-based furniture retail company, announced its plan to launch its new air-purifying Gunrid curtains. The fabric featured a photocatalyst mineral designed to break down pollutants during the day, thereby minimizing the risk of harmful emissions entering a house. IKEA developed the GUNRID technology by partnering with universities across Asia and Europe.

RESTRAINING FACTORS

Government Regulations Concerning Corded Window Coverings to Hamper Growth

Recent years have witnessed various regulations concerning corded window coverings, most notably in Canada. Health Canada, a department of the Government of Canada, has been working toward minimizing the risks associated with corded blinds in Canada over the last three decades triggered by the increasing number of children dying from this risk. To eliminate this preventable risk, in May 2019, Health Canada released its new corded window blinds regulations aimed at restricting the size of loops and the length of cords on blinds (both ready-made and customized) distributed across Canada. In the coming years, governments across developing countries are expected to introduce such regulations to protect children from this potential hazard. From a manufacturing standpoint, it is imperative to adjust to such new regulations to stay competitive in the intensely competitive market space. 

SEGMENTATION

By Type Analysis

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Blinds & Shades to Hold Major Window Covering Market Share Backed by Increasing Demand across North American and European Markets

On the basis of type, the market is classified into a blinds and shades, shutters, curtains & drapes and others. The blinds & shades segment held a dominant share of the market in 2020. Blinds are among the cheapest window blinds globally, making them an ideal choice for residential applications or rental apartments. For a 2-by-4-foot window, aluminum and stock vinyl mini-blinds can cost as low as USD 5.

At a macro level, the increasing popularity of home theatre systems is driving the market for complete light cancelling blinds, most notably across North American and European countries. With their smooth and sleek designs, blackout roller blinds provide high levels of privacy and darkness needed for media room windows. Graber Light weaves blackout roller shades, crown blackout roller shades, and horizons blackout spring roller shades, which are among the most popular light canceling roller blinds available in the market.

By Technology Analysis

Manual Covers Segment to Account for Highest Market Share

Based on technology, the market is categorized into manual covers and smart covers. Price is one of the most significant distinctions between manual and smart curtains & drapes. Manual window covers are considerably less expensive than their motorized counterparts and are popular among homeowners working on a limited budget. However, manual blinds are only less expensive or affordable as they have limited capabilities and features compared to smart blinds. The rising demand for manual blinds globally has been encouraging an influx of startups over the years. For instance, Mesken, a new U.S.-based home startup lets customers order and customize their shades and curtains. The company ships the custom orders in 10 days or less. The company’s products are made in Istanbul, a country with a rich history of textile-making.

By Application Analysis

Demand for Window Coverings to Grow at Fastest Pace in Commercial Applications over Forecast Period

Based on application, the global market is categorized into residential and conventional. The rapid evolution of the East Asian hospitality sector is likely to encourage numerous window covering brands to exploit the business opportunities in the commercial space. There are various factors when it comes to choosing the right type of blinds for a commercial space. When buying a window blinds and shades for commercial uses, such as restaurants, retail, offices, spas, and hospitals, the most crucial factor to consider is functionality. While the product adoption has traditionally been more prominent in the residential space, the rapidly expanding hospitality industry is expected to boost the product demand across commercial sectors. In this respect, rising number of luxury hotels worldwide is driving the segment growth.

By Distribution Channel Analysis

Offline Distribution Channels to Retain their Prominent Position in the Coming Years

Based on distribution channel, the global market is categorized into offline and online. The distribution channels typically follow traditional patterns. In this respect, covering products are usually imported through wholesales/retailers who distribute their products to retailers. To reduce the final price of covering products, smaller retailers buy directly from suppliers, most notably when it concerns the distribution of high-end curtains & drapes. Such factors contribute significantly to the growth of the offline segment. An important factor associated with the sale of the product through offline channels involves the employment of product sample guides/books, which help customers to choose from a wide variety of finishes and fabrics.

REGIONAL INSIGHTS

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The market size in North America stood at USD 3.98 billion in 2020. The North America market is primarily driven by the growing number of smart homes and increasing penetration of smart technologies in the households of the U.S. and Canada, which fosters the demand for consumption of curtains & drapes for the interiors spaces. According to a survey among 1,000 individuals conducted by ValuePenguin in September 2020, smart home devices are increasingly familiar to most U.S. households. The research shows that 65% of Americans have a smart device in their home and for various reasons.

The growth of the Europe window covering market is driven by rising popularity of natural/environment-friendly products. Europe’s key importers of environment-friendly or natural curtains & drapes are the U.K., Germany, and France. Germany is one of the major European markets and with the trend of relaxed living gaining momentum among Germans, companies benefit from offering bespoke and unique ‘Made in Germany’ window blinds and shades. Window curtains & drapes are principally marketed within the middle and lower market segments in Europe. While most of the products in the higher segment are available customized options, curtains & drapes within the low-end segment include simple designs. Indian and Chinese high-volume suppliers continue to dominate the low-end segment. However, companies are likely to target the middle market over the forecast period, given the rising demand for natural fibers such as linen/bamboo organic cotton in the European market.

Asia Pacific is expected to grow at a significant rate in the coming years on account of the rising disposable income and improving the standard of living in the region, most notably in India and China. Industry participants are deploying various strategies to stay competitive in the market. New product launches are the most common strategic initiative being preferred by the majority of market players to establish their presence across residential and commercial sectors. For Instance, PEP Industries, Peps Industries Pvt. Ltd., an Indian spring mattress company, launched Peps Cameo, a new line of soft top mattress featuring jersey fabric. As the first company to launch a mattress made using jersey fabric in India, PEP Industries is likely to target sportspersons in the country by highlighting sweat absorption attribute of the novel material.

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South America and the Middle East & African markets currently account for a small fraction of the global market. Brazil is likely to emerge as a key market for window blinds and shades in the regional market. The Brazilian market is driven by the rising demand for plantation shutters. Wood blinds are also among the most popular curtains & drapes in Brazil. The rising need for security and privacy among Brazilians is likely to contribute significantly to the demand for wood blinds in the country throughout the forecast period.

KEY INDUSTRY PLAYERS

Hunter Douglas N.V. to Acquire Leading Position in Global Market

Hunter Douglas N.V. emerged as the market leader in 2020 on the back of a well-established distribution network globally. The Hunter Douglas N.V.  Group comprises 134 companies with 47 manufacturing and 87 assembly operations and marketing organizations in more than 100 countries. The company witnessed a substantial spike in its net sales for FY 2019 with a total net profit of 278 USD million compared to FY 2020, where the net sales saw a slight decline of – 3.88 % due to the pandemic outbreak. The net sales for FY 2020 were USD 3,543 million compared to USD 3,686 million in FY 2019.

The key players of the market are increasingly incorporating technology to help meet consumers' desires, especially among tech enthusiasts is anticipated to pave a path for the growth of their businesses. In addition, the rising collaboration between brands for the production of a better and wider range of products is expected drive the product demand and transform the competitive landscape in the forthcoming years.

LIST OF KEY COMPANIES PROFILED:

• Hunter Douglas N.V.  (Rotterdam, Netherlands)


• Comfortex Window Fashions (New York, U.S)


• Lafayette Interior Fashions (Indiana, U.S.)


• Insolroll Window Shading Systems (Louisville, U.S.)


• Polar Shades Sun Control (Las Vegas, U.S.)


• The Shade Store, LLC (New York, U.S.)


• Decora Blind Systems Ltd (Lisburn, U.K.)


• Norman International Inc. (California, U.S.)


• Coulisse (Eindhoven, Netherlands)


• LOUVOLITE (Manchester, U.K.)

KEY INDUSTRY DEVELOPMENTS:

• February 2021: Coulisse B.V., a Netherlands-based company, collaborated with Eve Systems GmbH, a German smart home and home automation company, to introduce a broad spectrum of smart motors for Venetian blinds, roller blinds, curtains, and cellular shades. The new range was designed to simplify the use of smart/motorized window coverings by enabling automation, installation, and direct control on the iPhone.


• July 2020: LOUVOLITE launched a new line of roller blinds under the Sparkle Flint brand. These blinds were designed to offer enhanced privacy and security to interiors and provide smooth daylight filtering.


• July 2020: Hunter Douglas N.V.  launched Power View+ and Power View AC systems for premium automated shades. The company developed these systems to achieve decreased noise, increased reliability, and new customization options.

REPORT COVERAGE

An Infographic Representation of Window Covering Market

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The market research report includes qualitative and quantitative insights into the industry. It also offers a detailed analysis of the market size and growth rate for all possible segments. Various key insights presented in the report are an overview of related markets, competitive landscape, recent industry developments such as mergers & acquisitions, SWOT analysis, the supply chain analysis, and key window curtains & drapes industry trends.

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