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External Blinds Market Growth Drivers, Opportunities, Share Report And Forecast To 2033
External Blinds Market
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According to The Business Research Company's, The external blinds market size has grown strongly in recent years. It will grow from $12.52 billion in 2023 to $13.54 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to increase in focus on energy efficiency, rise in demand for aesthetic home improvements, growth in awareness of UV protection, expand in urbanization, and increase in disposable incomes.
The external blinds market size is expected to see strong growth in the next few years. It will grow to $18.6 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to increasing demand for energy-efficient solutions, rising adoption of smart home technologies, increasing residential and commercial construction, increasing awareness of UV protection, increasing trends towards outdoor living spaces, and increasing regulatory incentives for energy conservation. Major trends in the forecast period include integration of smart technology, adoption of energy-efficient solutions, advancements in sustainable and eco-friendly materials, innovation in customization options, and advanced sensor technologies for sun tracking.
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Market Drivers and Trends:
The increasing residential constructions is expected to propel the growth of the external blinds market. Population growth and urbanization have a significant impact on residential construction. With the increase in population, particularly in cities, there is a growing demand for housing. Furthermore, low interest rates make mortgages cheaper, encouraging more people to buy homes. External blinds help in controlling the amount of sunlight entering a room and provide a more comfortable indoor environment. It also enhances energy efficiency, comfort, privacy, and security by blocking heat, reducing glare, preventing outside visibility, and protecting windows from weather damage. For instance, according to the Office for National Statistics (ONS), a UK-based non-ministerial department, annual new construction orders surged by 11.4% in 2022 compared to 2021, marking a historic peak of £80.837 billion ($102.16 billion). Therefore, increasing residential constructions is driving the growth of the external blinds market.
Major companies operating in the external blinds market are developing exterior solar recharged zipshades to improve energy efficiency, reduce dependency on electrical power, and enhance user convenience with sustainable, self-sustaining technology. Solar-recharged zipshades use integrated photovoltaic panels to capture sunlight, convert it into electrical energy, and store it in a battery, which powers the motor to control the shade's movement autonomously. For instance, in August 2023, ROLL-A-SHADE, a US-based external blinds company, launched a solar zipshade. It is an innovative exterior shade system that uses solar power for autonomous control, featuring a solar cell on the head box to provide energy. It simplifies installation without needing electrical work, saving time and resources during setup.
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Major Key Players of the Market:
Legrand SA, Hunter Douglas N.V., Somfy Systems Inc., Springs Window Fashions LLC, Renson, Svenska Fönster AB, Lafayette Venetian Blind Inc., Lutron Electronics Co. Inc., Dickson Constant, Griesser AG, Mechoshade Systems LLC, Kresta Holdings Limited, Aluprof SA, Coulisse B.V., Insolroll Inc., Levolux Inc., Hella Sonnen- Und Wetterschutztechnik GmbH, Brustor NV, Roll-A-Shade Inc., QMotion EMEA, Rolletna, Persianas Canet, WAREMA Renkhoff SE, Shadescape Limited, Winsol NV
External Blinds Market 2024 Key Insights:
• The external blinds market size is expected to see strong growth in the next few years. It will grow to $18.6 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%.
• Impact Of Increasing Residential Constructions On The External Blinds Market
• Innovations in External Blinds To Advance Offerings
• North America was the largest region in the external blinds market in 2023
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