The global window coverings market has witnessed a shift in recent years, partly due to changing consumer preferences, technological advancements and a growing emphasis on sustainability. According to a Skyquestt research report on the window coverings market, there is an understanding of future trends, growth factors, vendor landscape, demand trends, year-on-year growth rates, compound annual growth rate (CAGR) and price analysis.
In 2022, the window coverings market was valued at USD 34.70 billion, and it is expected to grow from USD 37.37 billion in 2023 to USD 67.65 billion by 2031, with a CAGR of 7.7% during the forecast period from 2024 to 2031.
Photo: Luxaflex, one of the largest global players in the window coverings market.
Factors driving market growth:
- Changing consumer preferences: Consumers increasingly prefer custom-made, energy-efficient and durable window coverings that match the aesthetics of their homes and offices.
- Technological advances: Innovations such as smart window coverings and automated systems are contributing to the growth of the market, with convenience and energy efficiency being key.
- Sustainability factors: There is growing demand for ecological and energy-efficient window coverings, with a focus on lowering energy costs and reducing the carbon footprint of buildings.
Future outlook
The window coverings market shows positive growth prospects, driven by demand for advanced products that offer both functional benefits and add aesthetic value to living and working environments. Growth is further driven by the ongoing innovations in materials, designs and technologies that enable companies to exceed the expectations of modern consumers.
With a forecast CAGR of 7.7% between 2024 and 2031, the market is expected to expand significantly, allowing companies to align their strategies with emerging trends and the changing consumer landscape.
Source: Open PR