Residential Solar Shading System Market Statistics, Segment, Trends and Forecast to 2032

The global residential solar shading system market size was valued at $6.9 billion in 2021, and is projected to reach $10 billion by 2031, growing at a CAGR of 3.6% from 2022 to 2031

Residential solar shading devices stop sunlight from entering structures. Additionally, they want widespread adoption to protect against home spaces being too hot. These systems offer solid architectural options as well as solar protection and shading characteristics. Additionally, they drastically alter the appearance of a newly constructed or renovated residential building by having an incredible design influence, all while lowering energy expenses by reducing solar heat gains. They are appropriate for both new and renovated single- and multi-family homes, condominiums, mobile homes, and apartments. Residential solar shading can also help to meet the requirements of building codes for energy conservation while cutting building operating costs and improving occupant comfort.

The expansion of the residential solar shading system will be significantly impacted by the rise in home renovation project and remodelling spending around the world. Furthermore, between 2019 and 2021, American homeowners carried out nearly 135 million projects for home remodelling, spending a total of $624 billion, according to the U.S. Census Bureau's most current American Housing Survey. Spending on home upgrades has surged by almost $100 billion over the last three years. The market is therefore expected to rise as a result of increased investment in interior design and retrofitting operations, particularly in North America and Europe. Additionally, the demand for motorised solar shading systems has surged in emerging nations due to the rapid development in urbanisation.

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The increased emphasis on public-private partnerships (PPP) is projected to be one of the factors contributing to the expansion. These alliances are referred to as joint ventures involving businesses from the public and private sectors for the development of public infrastructure systems. A private firm manages a project and provides technical and operational skills to government projects in this sort of partnership. The expansion of public-private partnerships is anticipated to support the growth of the end-user market for residential solar shading systems in nations like China, Africa, and India.

Additionally, the need for building infrastructure, such as homes and flats, has increased as urbanisation rates around the world rise. Global population is expected to increase by almost 2 billion people by 2040, with urban population expected to increase by more than 40%. Due to its capacity to enhance quality of life, comfort, and security, motorised solar shading systems are even in great demand in poor countries. These tactics are crucial for the residential solar shading system industry because solar shading significantly improves the overall performance of residential buildings by offering an attractive appearance and excellent thermal efficiency, which increases building efficiency and lowers energy costs.

However, the market growth for residential solar shading systems is expected to be constrained by issues including unreliability in extreme weather and high cost. Additionally, technological advancements in the mechanism of residential solar shading system products, such as the use of switches, remote controls, and solar adaptive shading software to control the solar shading, are anticipated to present lucrative opportunities for market participants.

However, the market growth for residential solar shading systems is expected to be constrained by issues including unreliability in extreme weather and high cost. Additionally, technological advancements in the mechanism of residential solar shading system products, such as the use of switches, remote controls, and solar adaptive shading software to control the solar shading, are anticipated to present lucrative opportunities for market participants.

Due to lockdowns enforced by the governments of several nations, there was a decline in demand for the home solar shading system market in 2020. Due to lengthy lockdowns in significant countries around the world, the COVID-19 pandemic has halted production of a number of products for the end-user of solar shading systems.

Market Segmentation:
Type: The residential solar shading system market can be segmented based on the type of shading system, such as blinds, shades, shutters, and awnings.
Material: The market can be segmented based on the material used for the shading system, such as fabric, metal, and others.
Technology: The market can be segmented based on the technology used in the shading system, such as manual, automatic, and semi-automatic.
Sales Channel: The market can be segmented based on the sales channel, such as direct sales and distribution channel.
Application: The market can be segmented based on the application, such as windows, doors, skylights, and others.
End-use: The market can be segmented based on the end-use, such as residential and commercial.

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Competitive Landscape:
The global residential solar shading system market is highly competitive and fragmented, with the presence of several regional and international players. Some of the major players operating in the market include Hunter Douglas, Lutron Electronics Co., Inc., Rollease Acmeda, Springs Window Fashions, LLC, Warema Renkhoff SE, Griesser AG, BTX Intelligent Fashion LLC, Coulisse B.V., and Skyco Shading Systems, Inc.
These companies are focusing on product innovation, collaborations, and partnerships to expand their market presence and gain a competitive edge. For instance, in August 2021, Hunter Douglas introduced a new range of solar shading systems, including exterior blinds, awnings, and shutters, designed to provide energy savings and thermal comfort for residential buildings.
In addition, companies are also investing in marketing and promotional activities to increase awareness and promote their products. For example, Lutron Electronics Co., Inc. has been actively promoting its residential solar shading systems through online and offline marketing campaigns.
Moreover, the market is witnessing increasing consolidation activities as companies aim to expand their market reach and enhance their product portfolio. For instance, in May 2020, Springs Window Fashions acquired SWFcontract, a leading manufacturer of commercial window treatments, to expand its market presence and product offerings.
Overall, the global residential solar shading system market is highly competitive, and companies are focusing on innovation, collaborations, and marketing strategies to gain a competitive edge and expand their market presence.

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