The external blinds market value is projected to reach US$ 24,623.4 million by 2028 from US$ 15,715.3 million in 2021. The market is expected to grow at a CAGR of 6.7% during 2022–2028.
The external blind is a type of window covering designed to prevent the direct contact of heat waves with a window, thereby maintaining the cool air within the building. It allows the breeze to pass in whilst blocking harmful sun rays. The rising demand for energy efficiency and space maximization is anticipated to drive the external blinds market during the forecast period. The growing need to control the temperature of the room is boosting the use of external blinds in many residential and commercial buildings, further eliminating the requirement for air conditioner or room heater systems. A rise in construction activities, coupled with the benefits of external blinds, augments the external blinds market.
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External Blinds Market: Strategic Insights
Market Size Value in US$ 15,715.3 million in 2021 Market Size Value by US$ 24,623.4 million by 2028 Growth rate CAGR of 6.7% from 2022 to 2028. Forecast Period 2022-2028 Base Year 2022
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External Blinds Market: Strategic Insights
Market Size Value in | US$ 15,715.3 million in 2021 |
Market Size Value by | US$ 24,623.4 million by 2028 |
Growth rate | CAGR of 6.7% from 2022 to 2028. |
Forecast Period | 2022-2028 |
Base Year | 2022 |
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Speak to AnalystImpact of COVID-19 Pandemic on External Blinds Market Growth
In 2020, the limited availability of workforce, shortage of materials and supplies, reduction in productivity rates, and suspension and cancellation of projects/contracts led to the limited growth of the construction industry, thereby hampering the external blinds market growth.
During the pre-pandemic period, the infrastructure and construction industry in Saudi Arabia was reportedly one of the largest in the Gulf Cooperation Council (GCC), having over USD 825 billion worth of planned and unawarded projects. However, upon the onset of COVID-19 , many countries redirected their focus from developing infrastructure capabilities to healthcare facilities. Further, from 2021, the reopening of various industries strengthened the economic stability of many countries. As per an article published in the Journal of Commerce Online, the US Department of Transportation (DOT), under its Infrastructure for Rebuilding America (INFRA) initiative, allocated grants of ~US$ 856 million for constructing 20 projects across the US. Such upcoming developments in the construction industry are likely to fuel the external blinds market growth during the pandemic recovery period in the coming years.
Lucrative Regions: External Blinds Market Share
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Market Insight – External Blinds Market
Growing Residential and Commercial Construction Activities Boost External Blinds Market Growth
Commercial and residential constructions are continuously growing across the world, majorly in developing countries. According to the Russian news agency in July 2021, the commissioning of housing in Russia increased by 28.4% in the first five months of 2021, compared to the previous year. In May 2021, 5 million square meters of housing, which is around 31% more than in May 2020. According to the Ridgewater Homes website data, in 2021, there was a 10% growth in the construction of residential buildings in Australia. The growth is attributed to the rising demand for houses due to record-low interest rates, growth in sustained employment, and an increase in government programs such as HomeBuilder. Further, several government initiatives help the housing industry. The latest policy consists of 323,000 new houses in Seoul, the hotspot of the real estate frenzy, and 293,000 in the surrounding Gyeonggi Province, according to the Ministry of Land, Infrastructure, and Transport. Similarly, in September 2021, the government of Egypt announced the construction of 37 new smart city projects. The first phase of construction work has been underway for the past five years, with US$ 20 billion of investments pumped in an area spanning 40,000 feddans (16,800ha).
Product Type-based Insights
The external blinds market has been analyzed on the basis of product type, operating system, and material. Based on product type, the market is segmented into venetian blinds, roller blinds, vertical blinds, panel blinds, and others. The roller blinds segment held the largest market share in 2021. The roller blinds are available in various fabric types, light filtration capacities, colors, and patterns. These blinds are naturally flame retardant, waterproof, easy to wipe, and sturdy, making them suitable any room. An enhanced light control is a unique benefit of day and night blinds. The roller blinds are more advantageous than venetian blinds, and they can offer a strikingly bold look to the room.
Players operating in the external blinds market are mainly focused on the development of advanced and efficient products.
- In March 2022, Hunter Douglas acquired 74% of Droma-Sunshade Experts, which is a Polish assembler of made-to-measure exterior sunscreens, shutters and awings. Post acquisition, Droma will continue to operate independently. This acquisition will strengthen Hunter Douglas's presence in western Europe through the network of Droma.
- In March 2022, NEVA will be using ISO PANEL for the side guiding of external blinds. The ISO PANELs are more eco-friendly than the original plates and supports efficient operations.
The external blinds market has been segmented on the basis of product type, operating system, material, and end-use. Based on product type, the market is segmented into venetian blinds, roller blinds, vertical blinds, panel blinds, and others. Based on operating system, the market is segmented into manual and automated. Based on material, the external blinds market is segmented into metal, wood, plastic, and others.
The external blinds market is segmented into five major regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2021, Asia Pacific led the market with a substantial revenue share, followed by North America. Further, Europe is expected to register the highest CAGR in the external blinds market during 2022–2028. The external blinds market analysis helps to understand the upcoming trends, new technologies, and macro and micro factors that influence the market growth.
The key players profiled in the market study are Alulux GmbH; Griesser AG; Country Blinds Pty Ltd; Hunter Douglas; MHZ Hachtel GmbH & Co. KG; NEVA; Schenker Storen; Serge Ferrari S.A.S.; Verano; and WAREMA Renkhoff SE. The external blinds market report provides detailed market insights that help companies in strategizing their growth.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product Type, Operating System, Material, and End-Use
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
The List of companies - External Blinds market
- Alulux GmbH
- Griesser AG
- Country Blinds Pty Ltd
- Hunter Douglas
- MHZ Hachtel GmbH & Co. KG
- NEVA
- Schenker Storen
- Serge Ferrari S.A.S.
- Verano
- WAREMA Renkhoff SE
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- Primary Research:
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
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- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
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