Window Covering Industry to Expand with Significant CAGR | 2025

Posted by Nicky Arora on November 6th, 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.

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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.

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.