External Blinds Market

Summery:

External Blinds Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Product Type (Venetian Blinds, Roller Blinds, Vertical Blinds Panel Blinds, and Others), Operating System (Manual and Automated), Material (Metal, Wood, Plastic, and Others), and End-Use (Residential and Commercial)

Description:

The external blinds market value is projected to reach US$ 24,623.4 million by 2028 from US$ 15,715.3 million in 2021. The market is expected to grow at a CAGR of 6.7% during 2022–2028.

Market Overview:

The growing demand for home automation gadgets and energy-efficient security solutions at home, coupled with rapid urbanization and increasing disposable income, is a prominent factor driving the demand for external blinds. Key players engaged in manufacturing the external blinds are ramping up their production capacities to fulfill the growing consumer demands. Initiatives from various governments towards residential construction is also contributing to the demand for external blinds. In May 2022, the Secretary of the Interior of the US announced funds of US$ 61.1 million for 26 cities across the US to create new parks and trails, along with substantial renovations to existing parks, through the Outdoor Recreation Legacy Partnership (ORLP) program. Thus, the rise in construction activities, coupled with government initiatives to promote eco-friendly practices, augments the external blinds market.

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The key players profiled in the external blinds market study are 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 provides detailed market insights that help the major companies in adopting apt strategies to secure growth.

The residential construction market in countries in Western Europe, such as the UK and France, and countries in Central and South Europe is growing considerably. Factors such as the high per capita income of the population, and the booming building and construction industry in the region support the expansion of the European external blinds market. Rising income levels, low borrowing rates, and high net migration levels propel the growth of the housing market in Germany. According to German authority, 3.6 billion migrants are expected to arrive in Germany by 2024. There is a need for at least 350,000 additional homes every year in the country. The widescale adoption of external blinds among commercial, residential, and industrial buildings drives the growth of the Europe external blinds market.

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Impact of COVID-19 Pandemic on External Blinds Market

The external blinds needs were prevalent before the onset of the COVID-19 pandemic because of the growing urban population in North America. According to the article published by the Journal of Commerce Online, the US Department of Transportation (DOT) allocated grants of ~US$ 856 million to Infrastructure for Rebuilding America (INFRA) for constructing 20 projects across the US recently. Thus, the need for infrastructure development supported the growth of the external blinds market in North America.

In 2020, the limited availability of workforce, shortage of materials and supplies, reduction in productivity rates, and suspension and cancellation of projects/contracts hindered the external blinds market growth. For instance, in June 2020, the COVID-19 pandemic hampered the renovation work at the Worrilow Hall, an academic building at the University of Delaware. The contractors had to revise their project plans to overcome the effects of the scarcity of materials and workers. Further, according to a national survey conducted by the Associated General Contractors of America (AGCA), out of 1,077 respondents, 78% of the contractors experienced delays in their projects. Thus, the disrupted construction industries across the world during the COVID-19 pandemic hampered the external blinds market progress in North America in 2020.

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