The global residential solar shading system market was valued at $6.9 billion in 2021 and is projected to reach $10 billion by 2031, growing at a CAGR of 3.6% from 2022 to 2031. Residential solar shading systems are made either of fabric or metals such as aluminum, wood, or iron and are installed at windows, doors, patios, and gardens, to provide solar protection and offer energy savings. Residential sector benefits from its several applications as they add aesthetics to homes by gratifying the architectural coloring and design. Solar shading systems act as a reliable solution covering windows, decks, doors, walkways, and patios. Further, they enhance the beauty of the residential building and shield flooring, artwork, and furniture from sun damage, which in turn is projected to stimulate the growth of the market.
The rise in urbanization drives the demand for new construction buildings and residential construction activities, is expected to upsurge the demand for solar shading system products; thereby, driving the growth of the residential solar shading system market. For instance, in December 2021, according to the German Construction Federation (ZDB) and the German Construction Industry Federation (HDB), 4% growth in the German construction sector reach up to $124.45 billion. In addition, the rise in disposable income of the population in various governments such as India, China, Brazil, and others is expected to drive the adoption of the solar shading system in residential construction activities, which boosts the growth of the residential solar shading system market.
The residential solar shading system market is segmented on the basis of product type, material, mechanism, and region. By product type, it is divided into blinds, shades, louvers, and textiles. By material, it is categorized into metal, glass, wood, and others. By mechanism, it is divided into fixed, manual, and motorized. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Competition Analysis
Key companies profiled in the residential solar shading system market report include Arconic Corporation, Duco Ventilation & Sun Control, Glasscon GmbH, Hunter Douglas N.V., Insolroll Window Shading Systems, Lutron Electronics Co., Inc., Skyco Shading Systems, Inc., Springs Window Fashions, LLC, Unicel Architectural Corp., and WAREMA Nederland B.V.
Key Benefits for Stakeholders
- The report provides an Extensive analysis of the current and emerging global residential solar shading system market trends and dynamics.
- An in-depth market global residential solar shading system market analysis is conducted by constructing market estimations for key market segments between 2021 and 2031.
- An Extensive analysis of the residential solar shading system market is conducted by following key product positioning and monitoring of top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- A residential solar shading system market forecast analysis from 2022 to 2031 is included in the report.
The key players within the residential solar shading system market are profiled in this report and their Strategies are analyzed thoroughly, which helps understand the competitive outlook of the residential solar shading system industry.
Key Market Segments
By Product Type
- Blinds
- Shades
- Louvers
- Textiles
By Material
- Metal
- Glass
- Wood
By Mechanism
- Fixed
- Manual
- Motorized
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Lutron Electronics Co., Inc
- Glasscon GmbH
- WAREMA Nederland B.V.
- Hunter Douglas N.V.
- Arconic Corporation (Kawneer Benelux)
- Springs Window Fashions, LLC
- Duco Ventilation & Sun Control
- Insolroll Window Shading Systems
- Skyco Shading Systems, Inc.
- Unicel Architechtural Corp.
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Table of Contents
Executive Summary
According to the report titled, 'Residential Solar Shading System Market,' the residential solar shading system market was valued at $6.9 billion in 2021, and is estimated to reach $10 billion by 2031, growing at a CAGR of 3.6% from 2022 to 2031.
A residential solar shading system is a specific type of system that uses elements to regulate the heat and light that enter a building from the sun. Natural light and heat from the sun minimize the need for artificial lighting and heating, but excessive sun exposure could lead to overheating, which would require the use of cooling air conditioning. Here, solar shading solutions can lower the expense and energy requirements of this environmental control.
Key factors driving the growth of the residential solar shading system market include an increase in spending on home remodeling and retrofitting activities, growing demand for motorized solar shading systems in developing countries, Expansion of living space and protection from the sun, and Developments in fabric material. In order to plan, design, and supervise the interiors of their residential construction projects, homeowners and proprietors from all over the world who require shading systems consult interior designers. They have focused on remodeling their residences in accordance with their personal aesthetic preferences, practical requirements, and financial capabilities. In addition, a rise in consumer spending on home activities globally has driven the market growth in recent years. Furthermore, the most recent American Housing Survey from the U.S. Census Bureau shows that between 2019 and 2021, American homeowners undertook approximately 135 million projects for house remodeling, spending an estimated $624 billion. Spending on home improvements has risen by about $100 billion over the last few years. Hence, the increased investment in interior design and retrofitting activities, majorly in North America and Europe, is expected to drive the growth of the market.
Continuous technological advancements in the global Solar Shading Systems Market are expected to provide ample growth opportunities for solar shade manufacturers and suppliers in the upcoming years. Major players in the market are already shifting their focus toward innovation and technological advancements to maintain competitiveness and garner a major market share. Further, the introduction of a motorized solar shading system that can be retracted with the help of a switch, remote, and even smartphone has garnered attention across the residential sectors. Furthermore, Inflector India Private Limited which is a new player in the blinds & shades industry launched an innovative product in August 2022, the product is based on radiant heat barrier technology and named solar shades & heat barrier blinds for the windows product line is unique, energy saving product that acts as a solar filtering, reflective thermal shade. Moreover, Lutron Electronics Co., Inc. uses Hyperion solar-adaptive shading software, which mechanically adjusts Lutron Sivoia QS shades throughout the day in retort to the shifting position of the sun, thereby saving energy, and lowering heat gain and glare.
The residential solar shading system market is segmented on the basis of product type, material, mechanism, and region. By product type, it is divided into blinds, shades, louvers, and textiles. By material, it is categorized into metal, glass, wood, and others. By mechanism, it is divided into fixed, manual, and motorized. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the study include Arconic Corporation, Duco Ventilation & Sun Control, Glasscon GmbH, Hunter Douglas N.V., Insolroll Window Shading Systems, Lutron Electronics Co., Inc., Skyco Shading Systems, Inc., Springs Window Fashions, LLC, Unicel Architectural Corp., and WAREMA Nederland B.V. The players in the market have been actively engaged in the adoption of various strategies to remain competitive and gain advantage over the competitors in the market. For instance, in August 2021, WAREMA Nederland B.V. which is a European market leader and manufacturer high-grade technical solar shading systems established a new production and logistics center to fulfil the demands of the growth capacity. More space, a good location, a concentrate on industry 4.0, and sustainability are all provided by this expansion.
Key Market Insights
By product type, the blinds segment was the highest revenue contributor to the market and is estimated to reach $4,041.5 million by 2031. Moreover, the louvers segment is estimated to be the fastest-growing segment with a CAGR of 4.8% during the forecast period.
By material, the metal segment dominated the global market. However, the same segment is expected to be the fastest growing segment with a CAGR of 4.3% during the forecast period.
By mechanism, the motorized segment was the highest revenue contributor to the market in 2021, which is expected to grow with a CAGR of 4.3% during the forecast period.
By region, North America held the largest revenue share in 2021, and Asia-Pacific is anticipated to grow at the highest CAGR of 4.9% during the forecast period.
Companies Mentioned
- Lutron Electronics Co., Inc
- Glasscon GmbH
- WAREMA Nederland B.V.
- Hunter Douglas N.V.
- Arconic Corporation (Kawneer Benelux)
- Springs Window Fashions, LLC
- Duco Ventilation & Sun Control
- Insolroll Window Shading Systems
- Skyco Shading Systems, Inc.
- Unicel Architechtural Corp.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 265 |
| Published | January 2023 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value in 2021 | 6.9 billion |
| Forecasted Market Value by 2031 | 10 billion |
| Compound Annual Growth Rate | 3.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
