New Delhi, Sept. 06, 2022 (GLOBE NEWSWIRE) --
Global solar shading systems market is expanding due to the growing demand for solar shade in an increasing number of smart city projects, increased disposable income spent on home remodeling and retrofitting for beautification purposes, and technology advancements in mechanism and fabric material.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Global Solar Shading Systems Market size at USD 16.98 billion in 2021. BlueWeave forecasts the market to grow at a CAGR of 4.6% between 2022 and 2028, reaching USD 23.16 billion by 2028. Solar shading systems provide benefits, including protection from the scorching Sun, cooling effect, and expansion of the living space. These advantages have increased the demand for solar shade systems, as they are extensively used in smart city projects. Technology advancements in the mechanism and developments in fabric material have given birth to new and modern solar shading systems. With increased disposable income, people are willing to spend on beautification, remodeling, and retrofitting of their homes. It is also expected to drive the growth of the global solar shading systems market during the forecast period between 2022 and 2028.
Smart City Projects to Drive Growth of Global Solar Shading Systems Market
Customers' changing needs and demands have fueled the escalation in the number of smart city projects worldwide. Builders use the smart home concept as an integral part of the construction of residential and commercial buildings. Solar shading systems are an integral part of these smart homes, as they protect from the Sun, provide a cooling effect, increase the working/living spaces, and beautify the buildings. Most importantly, they reduce the need for air-conditioning in summers, save energy, and are a sustainable solution to environmental change. This energy can be redirected to meet the energy needs of the industrial sector; therefore, it helps in reducing the carbon footprint. The SolarCity of Linz, Austria, uses urban planning with elaborate solar architecture and a reduction in fossil fuel consumption. It includes green spaces, wall units, solar shading systems, air tightness, soundproofing, ventilation system, and high-quality windows. SolarCity is a classic example of social, economic, cultural, and environment sustainability.
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Challenge: Weather Changes
The weather of a region changes periodically based on the time of the year. Out of the four seasons, solar shading systems are only useful in the summer season. In summers, daylight hours are the longest, and dark hours are the shortest; thus, the full utilization of these systems is done. However, the solar shading systems are not required much during winter, autumn, and spring seasons.
Global Solar Shading Systems Market - By Material
Based on material, global solar shading systems market is segmented into metal, glass, wood, and others. The cloth segment accounted for the highest market share in 2021 and is also expected to expand at the highest rate during the forecast period, as fabric systems are diverse in designs, cost-efficient, and demand less maintenance.
Global Solar Shading Systems Market - Regional Insights
Based on geography, the global solar shading systems market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global solar shading systems market in 2021, due to its leading technological standards, lofty trade, and towering consumption. On the other hand, Asia Pacific is expected to grow at the highest rate during the forecast period due to an increase in the remodeling and retrofitting activities in new and old buildings.
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Impact of COVID-19 on Global Solar Shading Systems Market
Covid-19 pandemic affected industries across verticals including global solar shading systems market. The sudden rise in infections led to lockdown restrictions and precautionary measures were taken up to contain the spread of the novel coronavirus. There was a complete stoppage in international trade, and the supply chain was disrupted. The manufacturing and operations of the key companies ceased, and the workers migrated to their native places. Moreover, the demand for solar shading systems dropped as the construction and renovation of buildings were also put to a halt. Post Covid-19 pandemic, the world saw an increase in demand for solar shading systems skyrocketed, as the smart city projects and remodeling and retrofitting of buildings resumed.
Competitive Landscape
Duco Ventilation & Sun Control, Glasscon GmbH, Hunter Douglas, Insolroll, Kawneer, Lutron, Skyco Shading Systems, Inc., Springs Window Fashions, Unicel Architectural, WAREMA Nederland B.V., Newport Corporation, Nisshinbo Mechatronics, Inc., Sciencetech, Solar Light Company, Inc., Spectrolab, Eternalsun Spire, WACOM ELECTRIC CO. LTD, and Unicel Architectural Corp are key players operating in global solar shading systems market. Other than collaborations, mergers, and partnerships, product diversification, research and development, and facility expansion are other strategies taken up by these companies to gain an advantage over their competitors.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global solar shading systems market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the global solar shading systems market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
Recent Developments
- In February 2021, Coulisse B.V. and Eve Systems partnered to launch smart window coverings that could be operated by smartphones. These smart solar sunlight control systems used HomeKit and Thread integration.
- In March 2021, RC partnered with Lutron Electronics to expand its integration capabilities using Total Control's automation platform.
Scope of the Report
| Attributes | Details |
| Years Considered | Historical Data – 2018–2021 |
| Base Year – 2021 | |
| Estimated Year – 2022 | |
| Forecast – 2022–2028 | |
| Facts Covered | Revenue in USD Billion |
| Market Coverage | North America (US, Canada), Europe (Germany, UK, France, Italy, Spain, The Netherlands, Belgium, NORDIC Countries, Rest of Europe), Asia Pacific (China, India, Japan, South Korea, Australia & New Zealand, Indonesia, Malaysia, Singapore, Philippines, Vietnam, Rest of Asia Pacific), Latin America (Brazil, Mexico, Argentina, Peru, Colombia, Rest of Latin America), Middle East & Africa (Saudi Arabia, UAE, Qatar, Kuwait, Iran, South Africa, Nigeria, Kenya, Egypt, Morocco, Algeria, Rest of Middle East & Africa) |
| Product/ Service Segmentation | By Product Type, By Geometry, By Mechanism, By Material, By Application, By Region |
| Key Players | Duco Ventilation & Sun Control, Glasscon GmbH, Hunter Douglas, Insolroll, Kawneer, Lutron, Skyco Shading Systems, Inc., Springs Window Fashions, Unicel Architectural, WAREMA Nederland B.V., Newport Corporation, Nisshinbo Mechatronics, Inc., Sciencetech, Solar Light Company, Inc., Spectrolab, Eternalsun Spire, WACOM ELECTRIC CO. LTD, and Unicel Architectural Corp. |
By Product Type
- Blinds
- Shades
- Louvers
- Textiles
By Geometry
- Horizontal
- Vertical
- Egg-Crate
By Mechanism
- Fixed
- Manual
- Motorized
By Material
- Metal
- Glass
- Wood
- Others
By Application
- Residential
- Commercial
- Industrial
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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