The global window covering market size was valued at USD 27.6 billion in 2018 and is expected to expand at a CAGR of 4.2% over the forecast period. Robust development in economies is likely to drive the market in the forecast period. Increasing disposable income of the consumer group has led to frequent changes in coverings with changing wall paints and other home décor items. This has also become a prominent factor to propel the market growth.
Furthermore, rapid urbanization has increased the number of households, which, in turn, will propel the market growth in the forecast period. For instance, it has been projected that the number of households in the U.S. will increase by 12.2 million between 2018 to 2028. This is expected to fuel the overall market growth for the coverings in the forecast period.
In developing countries such as India and China, the adoption of western culture has been the most prominent factor for the market growth in both the residential as well as commercial sectors. Adoption has led to a change in the purchasing behavior of the consumer. The trend of rental houses has also been a driving factor for the industry. Consumers prefer to change their coverings and other home decors with changing homes, thus increasing the demand for the product.
The growing hospitality industry has made a tremendous impact on the growth of the industry. In developing countries such as India and China, the industry has witnessed robust growth in recent times. An increasing number of startups such as Oyo rooms and Fab hotels has led to a rise in the sale of curtains in the last five years, thereby driving the demand for the coverings. In rural areas of countries such as India, the usage of coverings is found to be rare. Although, increasing urbanization in rural areas is likely to propel the market demand in the forecast period.
Increasing government initiatives in developing countries to build more houses has also been a considerable factor for industry growth. In India, the government has come up with an initiative called “affordable housing scheme”, under which a large number of houses have been built and the government is also providing home loans at nominal interest rates. These factors are expected to drive the market in the forecast period.
The offline segment dominated the market and accounted for 84.6% of the overall revenue. Consumers prefer to shop through different home décor outlets such as Home centre in order to have a large option with designs and colors. In countries such as India, consumers prefer to buy through various wholesale markets as they are much cheaper as compared to other markets. These factors are likely to drive the segment in the forecast period.
The online segment is expected to expand at a CAGR of 4.7% over the forecast period. Due to growing young consumers in the market, consumer preference has changed in the last few years. Due to their hectic work schedules, they prefer to shop online instead of going to the market. The segment is likely to witness tremendous growth in the forecast period due to the introduction of online retailers such as Amazon.com and other home décor specialty online retailers, who ensure faster delivery with a large variety of products.
Based on the application, the window covering market is further segmented into commercial and residential. The residential sector dominated the market and accounted for 55.8% share of the overall revenue in 2018. An increasing number of households and rapid urbanization in emerging economies such as India and China are the key factors driving the segment. The introduction of various schemes such as “Pradhan Mantri Awas Yojna” in countries such as India has led the lower-middle-class families to have their own house, thereby increasing the number of households. This, in turn, will boost the segment growth in the forecast period.
The commercial sector is also likely to witness significant growth in the forecast period. The growing trend of traveling has led to an increase in the number of hotels and resorts in a different part of the world. The global market has witnessed tremendous growth in recent years due to an increase in the number of luxury hotels and resorts.
On the basis of product, the window covering market is segmented into blinds and shades, curtains, shutters, and other variants. The blinds and shades segment accounted for a leading share of 39.5% in 2018 and is expected to witness significant growth in the near future. Preference for blinds and shades is increasing in countries such as the U.S and other European countries due to technological advancements in the product. Manufacturers have come up with technologies such as remote control shades and automatic weather sensor shades, which has propelled the demand for the product in recent years.
The curtains segment is expected to register a CAGR of 4.4% during the forecast period. Curtains being a traditional option for window covering, are widely popular among the economical consumer group. Innovation in designs and patterns by the manufacturers has fueled the market growth in recent times. Growing consumer preference for changing their curtains with changing shades of their homes has led to the frequent purchase of the product, thereby propelling the overall demand. They are cheaper and easy to use as compared to that of blinds and shades and thus are more popular among the consumer group. This, in turn, is encouraging the demand for the product in the forecast period.
In 2018, North America led the market with a share of 40.0% and is anticipated to witness significant growth in the near future. In North America, the U.S. contributes to the majority of share and is expected to register a CAGR of 3.8% over the forecast period. The introduction of different varieties of the product and technological advancements in the product has driven the market in the region.
Asia Pacific is expected to register the fastest CAGR of 5.1% over the forecast period. Rapid development in emerging economies such as India and China has driven the regional market. The growing tourism sector in countries such as Thailand and Malaysia has also been a considerable factor for the market growth as it has led to an increase in the number of hotels and resorts, thus propelling the demand for the product in the time frame.
Hunter Douglas, Lotusblind, Bombay Dyeing, Insolroll, Mariak, Welspun India Limited, Skandia Window Fashion, MechoShade Systems LLC, Lafayette Interior Fashion, and Comfortex Window Fashion are some of the major market players in the industry. The market presents moderate to low entry barriers due to the presence of leading market players as well as small firms. The market is further driven by innovation in designs, mergers and acquisitions, and joint ventures. For instance, various manufacturers have come up with technologies involved in blinds and shades that can be controlled by remote. They have also introduced automatic shades with weather sensors.
Report Attribute |
Details |
Market size value in 2020 |
USD 29.95 billion |
Revenue forecast in 2025 |
USD 36.75 billion |
Growth Rate |
CAGR of 4.1% from 2019 to 2025 |
Base year for estimation |
2018 |
Historical data |
2015 - 2017 |
Forecast period |
2019 - 2025 |
Quantitative units |
Revenue in USD million/billion and CAGR from 2019 to 2025 |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered |
Type, application, distribution channel, region |
Regional scope |
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
Country scope |
U.S.; U.K.; Germany; China; India; Brazil; Turkey |
Key companies profiled |
Hunter Douglas; Lotusblind; Bombay Dyeing; Insolroll; Mariak; Welspun India Limited; Skandia Window Fashion; MechoShade Systems LLC; Lafayette Interior Fashion; Comfortex Window Fashion |
Customization scope |
Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country; regional & segment scope. |
Pricing and purchase options |
Avail customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at the 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, Grand View Research 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
The U.S.
Europe
Germany
U.K.
Asia Pacific
China
India
CSA
Brazil
MEA
Turkey
b. The global window covering market size was estimated at USD 28.75 billion in 2019 and is expected to reach USD 29.95 billion in 2020.
b. The global window covering market is expected to grow at a compound annual growth rate of 4.1% from 2019 to 2025 to reach USD 36.75 billion by 2025.
b. North America dominated the window covering market with a share of 39.9% in 2019. This is attributable to introduction of different varieties of the product, coupled with technological advancements, in the region.
b. Some key players operating in the window covering market include Hunter Douglas, Lotusblind, Bombay Dyeing, Insolroll, Mariak, Welspun India Limited, Skandia Window Fashion, MechoShade Systems LLC, Lafayette Interior Fashion, and Comfortex Window Fashion.
b. Key factors that are driving the market growth include increasing disposable incomes of different consumer groups, along with rising consumer expenditure on home furnishings & decor.
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The home care & decor industry has been witnessing inconsistent growth, since the Covid 19 outbreak. As a result of the ongoing pandemic crisis, there has been a drop in the overall performance of discretionary products such as decorative fixtures, bedding products, to name a few. The virus outbreak has, however, led to substantial growth in categories such as cleaning and hygiene products. Prominent growth in the e-commerce business is also one of the positive influences of the outbreak, wherein companies are focusing on expanding their distribution networks to online channels in order to cater to the surging consumer demand. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections.