External Blinds Market Size, Trends and Growth Analysis by 2027

The external blinds market is anticipated to grow significantly, with projections indicating a rise from US$ 15,715.3 million in 2021 to US$ 24,623.4 million by 2028. This growth represents a compound annual growth rate (CAGR) of 6.7% from 2022 to 2028.

Several factors are contributing to this upward trend, including an increasing demand for home automation devices and energy-efficient security solutions. The rapid pace of urbanization and a rise in disposable income are also key drivers of the external blinds market. Major manufacturers are enhancing their production capabilities to meet the surging consumer demand. Additionally, government initiatives aimed at boosting residential construction are further stimulating the market for external blinds. For instance, in May 2022, the US Secretary of the Interior announced a funding initiative of US$ 61.1 million for 26 cities to develop new parks and improve existing ones through the Outdoor Recreation Legacy Partnership (ORLP) program. Such construction activities, along with government efforts to promote sustainable practices, are expected to bolster the external blinds market.

In January 2020, Hunter Douglas became the first company to receive an energy performance rating for window coverings from the Attachments Energy Rating Council (AERC) and the US Department of Energy (DOE) for its cellular shades and cellular roller shades. The presence of leading companies, ongoing research and development (R&D) efforts, and a variety of innovative products are crucial factors driving the growth of the external blinds market. Furthermore, increasing collaborations among market participants are likely to enhance market expansion in the coming years. Analyzing the external blinds market will provide insights into emerging product trends, innovative technologies, and the macro and micro factors influencing market growth.

According to a report from the Yonhap News Agency in February 2021, the South Korean government announced plans to relax building regulations and support redevelopment projects in urban areas, aiming to increase the housing supply to 836,000 new homes nationwide. This policy, spearheaded by the Ministry of Land, Infrastructure, and Transport, focuses on adding 323,000 new homes in Seoul and 293,000 in the surrounding Gyeonggi Province. Similarly, in September 2021, Egypt's government revealed plans for the construction of 37 new smart city projects, with the first phase of construction already underway, backed by US$ 20 billion in investments across an area of 40,000 feddans (approximately 16,800 hectares). Such developments in residential and commercial construction across various nations are directly linked to the growth of the external blinds market.

The external blinds market study profiles key players such as 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 market report offers valuable insights that assist major companies in formulating effective strategies for growth.

In Western Europe, particularly in countries like the UK and France, the residential construction market is experiencing substantial growth. Factors such as high per capita income and a thriving construction industry are propelling the expansion of the external blinds market in Europe. Rising income levels, low borrowing costs, and significant net migration are driving the housing market in Germany, where authorities predict that 3.6 billion migrants will arrive by 2024, necessitating at least 350,000 additional homes annually. The widespread adoption of external blinds in commercial, residential, and industrial buildings is a key factor in the growth of the European external blinds market.

To cater to consumer preferences, manufacturers are focusing on combining materials that offer optimal weight and strength. There is a growing interest in using environmentally friendly and sustainable materials for producing various types of blinds, including vertical, corded, pleated, and panel blinds. However, the high cost of premium blinds can limit their market demand. Consequently, producers and retailers are increasingly developing new pricing strategies to target profitable segments within the European external blinds market.

In 2021, the Asia Pacific region held the largest share of the external blinds market. China is expected to present significant growth opportunities during the forecast period, driven by increased construction activities and a widespread adoption of fa?ade systems in both residential and commercial buildings. Many multinational corporations, large domestic firms, and numerous hotels and resorts in China are embracing a green building culture. The rising popularity of eco-friendly construction methods aimed at enhancing building quality and safety has further fueled the demand for advanced external blinds systems in China. Countries in the Asia Pacific region, particularly China, India, and Singapore, are characterized by the adoption of contemporary trends in design and construction.

According to data from Oxford Economics and Haver Analytics regarding global construction growth from 2020 to 2030, China, India, and the US are among the leading contributors to residential construction worldwide. Marsh LLC's 2021 data indicates that residential construction is projected to be the fastest-growing sector globally, with an anticipated growth rate of 7.1%. The residential sector accounted for 44% of total global construction in 2020, making it the largest subsector. These factors collectively enhance the construction of residential and commercial buildings, thereby driving the growth of the external blinds market.

The external blinds market is analyzed based on product type, operating system, and material. The product types include venetian blinds, roller blinds, vertical blinds, panel blinds, and others. The operating systems are categorized into manual and automated systems, while the materials are segmented into metal, wood, plastic, and others.

The external blinds market is divided 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 the largest share, followed closely by North America. Europe is projected to experience the highest CAGR during the period from 2022 to 2028.