The Window Shutters Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Window Shutters Global Market Report 2024, The window shutters market size has grown strongly in recent years. It will grow from $3.34 billion in 2023 to $3.57 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to traditional and classic design preferences, increased construction activities, climate considerations and energy efficiency, security and privacy concerns, influence of interior design styles, heritage and preservation efforts, consumer awareness of window treatments, natural light managemen..
The window shutters market size is expected to see strong growth in the next few years. It will grow to $4.65 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to sustainable and eco-friendly materials, smart home integration, rising interest in outdoor living spaces, urbanization and compact living, popularity of minimalist design, multi-functional shutter designs, renewal of heritage homes and buildings, innovations in installation and operation.. Major trends in the forecast period include smart shutter systems, customization and design options, child safety, innovation in material technologies, noise reduction features, popularity of plantation shutters, diy shutter installation, collaborations with interior design trends..
Increasing urbanization is expected to drive the growth of the window shutters market going forward. Urbanization is the process of concentrating people into small geographic areas, which transforms the land for residential, commercial, industrial, and transportation uses. Window shutters significantly reduce outside noise pollution, which can significantly improve interior comfort in residential, commercial, and industrial structures as well as congested urban areas. For instance, according to the data published in September 2021 by the United Nations Department of Economic and Social Affairs, a US-based intergovernmental organization, globally, 4.46 billion people resided in urban areas in 2021. By 2050, this number will increase to 6.68 billion, with 2.22 billion more people living in urban areas. Therefore, the increasing urbanization will drive the growth of the window shutters market in the forecast period.
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The window shutters market covered in this report is segmented –
1) By Product Type: Interior Shutters, Exterior Shutters
2) By Functionality: Manual, Automatic
3) By Distribution Channel: Offline, Online
4) By End User: Residential, Commercial, Other End Users
The introduction of smart and automated window shutters is a key trend gaining popularity in the window shutters market. Major players in the window shutters market are focused on introducing smart and automated window shutters to gain a competitive edge in the market. For instance, in July 2023, The REHAU Group, a Switzerland-based company, launched the RAUVOLET Noble Matt Roller Shutter, which represents a perfect blend of elegance and functionality. This innovative roller shutter boasts a super matte surface finish, exuding sophistication and elegance, making it an attractive addition to REHAU’s wide range of furniture components.
The window shutters market report table of contents includes:
1. Executive Summary
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