According to Research and Markets, the global market for blinds and shades is estimated at US$10.4 billion in the year 2020 and is valued at $14.65 million per Market Watch. It is projected that the blinds and shades industry will reach an amended size of $12.4 billion by 2027, growing at a CAGR of 2.6% over the analysis period 2020-2027.
Roman Shades and Venetian Blinds
Roman Shades/Blinds, which have become one of the more popular amongst all window coverings, is projected to record a 2.3% CAGR and reach US$3.9 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Venetian Blinds segment is readjusted to a revised 3.2% CAGR for the next 7-year period.
In comparison to the United States market, China is the largest competitor. While the U.S. is estimated at$3.7 Billion in the year 2020, China is forecast to reach a projected market size of $1.5 Billion USD by the year 2027 trailing a CAGR of 4.1%.
Panel Blinds
On a global scale, USA, Canada, Japan, China and Europe all drive the 2.6% CAGR estimate. The combined market size in 2020 reached $1.1 billion USD is projected to reach $1.4 billion by the close of the analysis period, 2027. China will continue to lead as the fastest growing of these regional markets. These regional markets include countries such as Australia, India and South Korea. The Asia-Pacific market is expected to reach $999.8 million USD by 2027. Meanwhile, Latin American markets will expand at a rate of 4.2% CAGR throughout the analysis period.
For more information regarding the market trajectory:
Market Watch: https://on.mktw.net/3760Ggq
Research and Markets: https://bit.ly/3i4vN1Y
