Window Covering Market is Expanding at a CAGR of 4.2%: Grand View Research, Inc.
22-Oct-2019: The global window covering market
size is expected to reach USD 36.8 billion by 2025, expanding at a CAGR of
4.2%, according to a new report by Grand View Research, Inc. Increasing number
of households, rising per capita income, and rapid urbanization in emerging
countries are some of the major factors driving the industry.
Blinds and shades
accounted for 39.5% share of the overall revenue in the market based on type of
the coverings. Changing trends and introduction of technologies in the product
are some of the factors driving the segment. Curtains accounted for 31.5% share
of the overall revenue due to their easy accessibility and cost-efficient
features.
On the basis of
application, the residential sector dominated the window covering market with a
share of 55.8% in 2018. Increasing households in countries such as India and
China due to rapid urbanization and various government schemes are among the
prominent factors for the segment growth. The commercial sector is expected to
expand at the fastest CAGR of 4.2% in the forecast period. Growing hospitality
industry due to increasing tourism in countries such as Thailand, Malaysia, and
other European countries are driving the segment.
The offline segment
accounted for 84.6% share of the overall revenue. Purchasing behavior of the
consumer from wholesalers and other home décor outlets is likely to drive the
segment in the forecast period. The online segment is anticipated to register
the fastest CAGR of 4.7% over the forecast period. Growing usage and penetration
of internet in the rural areas is anticipated top fuel the segment growth in
the forecast period.
North America is
the leading regional market and it accounted for 40.0% share of the overall
revenue in 2018. Growing usage of various types of products due to emerging
technologies and frequent changing trends are some of the prominent factors
boosting the market growth in the region. Asia Pacific is expected to emerge as
the fastest growing region over the forecast period. Increasing number of
households and growing commercial sectors such as tourism and corporate sector
are driving the market in the region.
In
depth research report on Window Covering Market
Further key findings from the report suggest:
·
By type, blinds and shades are projected to ascend at a CAGR
of 4.5% over the forecast period
·
By application, the residential sector held the largest share
in the market
·
The offline channel held an overall revenue share of 84.6% in
2018
·
Asia Pacific is expected to be the fastest growing regional
window covering market with a CAGR of 5.1% over the forecast period.
Grand View Research
has segmented the global window covering market on the basis of type,
application, distribution channel, and region:
Window Covering Type Outlook (Revenue, USD Billion, 2015 -
2025)
·
Blinds & Shades
·
Curtains
·
Shutters
·
Others
Window Covering Application Outlook (Revenue, USD Billion,
2015 - 2025)
·
Residential
·
Commercial
Window Covering Distribution Channel Outlook (Revenue, USD
Billion, 2015 - 2025)
·
Online
·
Offline
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About
Grand View Research
Grand View Research, Inc. is the
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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