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Solar Shading Systems Market Reflecting a CAGR of 3% During the Forecast Period 2018 - 2027
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Based on the component type, the solar shading system market is segmented into aluminum-based, fabric-based, and other types. Aluminum-based solar shading systems continue to witness robust adoption in the residential and industrial sectors, owing to their attributes such as rigidity and durability, and shield protection from solar radiation. On the other hand, fabric-based solar shading systems are expected to register a relatively higher CAGR through 2027, in light of their innovative and economic nature.
Based on region, the solar shading system market is segmented into North America, Latin America, Europe, Japan, Asia Pacific Excluding Japan (APEJ), and Middle East & Africa (MEA). The solar shading systems market in Latin America is expected to witness a relatively faster growth through 2027. The fact that the region occupies a large span of tropical and sub-tropical regions contributes to its relative supremacy in the solar shading systems market.
The Middle East and Africa are also expected to gain significance as a fast-growing market for solar shading systems, owing to the high temperatures and intense solar radiation in the region. However, North America and Asia-Pacific excluding Japan (APEJ) continue to remain the most lucrative markets for solar shading systems.
According to the study, business partners are entering into long-term contracts for revenue generation and product innovation strategies, which in turn has been paving lucrative growth opportunities for the solar shading systems market. Key players operating in the global solar shading system market include Solar Shading Systems, Inc., Construction Specialties, Coltinfo.co.uk, SWFcontract., Norsk Hydro ASA, Duco Ventilation & Sun Control, LINAK, Inc, Glazing GmbH, Roda Licht -und Lufttechnik Gmb Comhan, InSync Solar, WAREMA Nederland B.V., Glasson GmbH, Thermosash, Alumet, and Insolroll.
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These companies are eyeing to roll out a high number of quality solar shading systems. Gunnebo Group has a wide and diversified product portfolio of solar shading systems, while Sand is continuously expanding its presence in various regions around the world. Dormakaba, Inc., a major supplier, and manufacturer of solar shading systems are banking on the product diversification strategy to boost its sales and revenues.
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