Window Covering Market Analysis Report By Type, By Application, By Distribution Channel, By Installation, By Technology, By Region And Segment Forecasts From 2019 To 2025

Industry Insights

The global window covering market size was worth USD 27.6 billion, in 2018. The market is expected to grow at a CAGR of 4.2% during the forecast years, 2019 to 2025. Development of infrastructure coupled with robust economic growth is attributed to the growth of the market. Increasing consumers’ spending capacity has resulted in frequent changes in coverings along with home décor. This is a key factor bolstering the market growth.

Further, there has been a rise in the number of households owing to rapid urbanization. For example, it is estimated that the United States will have an additional 12.2 million houses between 2018 to 2028. Thus, rapidly increasing households in both developed and developing countries are fueling market growth.

Emerging countries in the Asia Pacific are adopting a western culture that results in a growing focus on making households aesthetically appealing. The trend of renting a house in urban areas is also gaining traction. Consumers often opt for new window coverings with changing wall paints and other households decoration. All these factors are collectively driving the market.

Furthermore, the rapidly growing hospitality industry is also expected to impact the market positively. The hospitality industry has witnessed phenomenal growth in recent times in developing countries such as China and India. Startups such as Fab Hotels and Oyo Rooms have attracted huge demand for renting services, which, in turn, has driven the demand for window coverings.

Various government initiatives in developing countries have resulted in the construction of a number of new houses. For instance, the Indian government introduced an “affordable housing scheme” under which the government offers house loans at low interest rates. Such schemes have led to a rise in the number of households in emerging countries. This factor is considered to have a positive impact on market growth.

Distribution Channel Insights

The offline segment held the largest share in the market with over 84.6%, in 2018. Consumers tend to touch and get an idea of the window covering products before making the purchasing decision. This factor has resulted in a rise in sales through offline channels. Further, consumers in emerging countries prefer to purchase from wholesale markets as they offer comparatively cheaper products.

The online segment, on the other hand, is likely to exhibit a CAGR of 4.7% throughout the forecast period. The increasing number of millennials are purchasing houses in urban areas. These tech-savvy millennials are driving sales through online channels. Further, the rise in the number of online platforms such as Amazon and others are positively driving the segment growth.

Application Insights

The window covering market is bifurcated into the residential and commercial segments depending on its applications. Among them, the residential segment held the largest market share of 55.8%, in 2018. The rise in the number of households and rapid urbanization are fueling the growth of this segment. Owing to the introduction of housing schemes such as “Pradhan Mantri Awas Yojna” in India, several middle-class families have made their own houses. This has significantly attributed to the market growth of window covering from the residential sector.

The commercial sector, on the other hand, is projected to grow at a considerable rate over the forecast duration. There has been significant growth in the hospitality industry in the recent past, which, in turn, has bolstered the demand for window covering in the commercial sector. Further, the increasing number of resorts and luxury hotels are tremendously contributing to the growth of the segment.

Type Insights

Based on product type, the market is categorized into shutters, curtains, blinds & shades, and others. The blinds and shades segment occupied nearly 40% of the market share, in 2018. Growing demand for technically advanced blinds and shades from developed countries is driving this segment demand. Key players have introduced automatic weather sensor shades and remote control-based shades. The introduction of such technically advanced shades is expected to proliferate the market growth.

The curtain segment is likely to grow at a CAGR of 4.4% over the forecast period. The curtain is a traditional way of covering the window and it is quite popular among the economic class. The introduction of innovative design in the curtain has positively impacted the market growth. Further, curtains are cheaper as compared to blinds and shades. Consumers often tend to change the curtain with changing shades. This factor, in turn, is expected to proliferate market growth in the near future. 

Regional Insights

North America held the largest share with over 40%, in 2018. The United States contributes to the majority of the share in North America and the country is expected to grow with a CAGR of 3.8% over the forecast period. The presence of several key players and the introduction of technically advanced window covering solutions are key factors driving the region’s growth.

The Asia Pacific, on the other hand, is likely to grow with the fastest CAGR of 5.1% over the forecast period. Rapidly growing infrastructural development coupled with urbanization is leading to the growth of this region. Further, the increasing tourism industry in countries such as Malaysia and Thailand is expected to drive the demand for window covering in commercial sectors.

COVID-19 Impact analysis

The window covering market has been negatively affected owing to the COVID-19 outbreak. There has been a significant decline in the construction of commercial and residential houses. Therefore, a drop in real-estate construction has adversely affected the market growth. Owing to the closure of retail stores across the different parts of the world, window covering sales has been reduced considerably. However, with the relaxation in lockdown norms across different parts of the world, the demand for window covering is witnessing a surge again. The introduction of cost-effective and durable products is anticipated to bode well for the growth of the market.

Window Covering Market Share Insights

Key players in the market are Insolroll, Welspun India Limited, Lafayette Interior Fashion, Lotusblind, MechoShade Systems LLC, Hunter Douglas, Bombay Dyeing, and Comfortex Window Fashion among others. There is a moderate to low entry barrier for the new players in the market. Companies are relying on product innovation and mergers & acquisitions to stay competitive in the market. 

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global window covering market report on the basis of type, application, distribution channel, and region:

• Type Outlook (Revenue, USD Billion, 2015 - 2025)
    • Blinds & Shades
    • Curtains
    • Shutters
    • Others

• Application Outlook (Revenue, USD Billion, 2015 - 2025)
    • Residential
    • Commercial

• Distribution Channel Outlook (Revenue, USD Billion, 2015 - 2025)
    • Online
    • Offline

• Installation Outlook (Revenue, USD Billion, 2015 - 2025)
    • New Construction
    • Retrofit

• Technology Outlook (Revenue, USD Billion, 2015 - 2025)
    • Automatic
    • Manual

• Regional Outlook (Revenue, USD Billion, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • Germany
        • U.K
    • the Asia Pacific
        • China
        • India
    • Central & South America
        • Brazil
    • Middle East & Africa
        • Turkey