Portland, OR, April 14, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global generated $10.78 billion in 2018, and is expected to reach $14.52 billion by 2026, growing at a CAGR of 3.6% from 2019 to 2026. The report provides an extensive analysis of changing market dynamics, market size & projections, top investment pockets, major segments, and competitive landscape.
Rise in spending on home remodeling and retrofitting activities, expanding living spaces & need of protection from the sun, and requirements regarding beautification of buildings drive the growth of the global solar shading systems market. However, lack of reliability in harsh weather conditions and high costs of installation of motorized solar shading system restrain the growth to certain extent. On the other hand, technological advancements and developments of fabric materials create new opportunities in the market.
Based on type, the blinds segment contributed to more than half of the total market share in 2018, and is expected to continue to contribute its dominant share based on revenue during the forecast period. However, the shades segment is estimated to witness the largest CAGR of 4.2% from 2019 to 2026.
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Based on mechanism, the motorized segment accounted for the highest market share with more than two-fifths of the total share in 2018, and is expected to continue to lead throughout the forecast period. Moreover, this segment is expected to witness the highest CAGR of 4.3% from 2019 to 2026. The research also analyzes segments including fixed and manual.
Based on application, the non-residential segment accounted for the highest market share with nearly three-fifths of the total share in 2018, and is estimated to maintain its leadership position by 2026. However, the residential segment is expected to witness the highest CAGR of 4.1% from 2019 to 2026.
Based on region, North America contributed to the largest share in terms of revenue, holding more than two-fifths of the total share in 2018, and is expected to maintain its dominant share throughout the forecast period. However, Asia-Pacific is expected to grow the highest CAGR of 4.1% from 2019 to 2026.
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Leading market players analyzed in the research include Duco Ventilation & Sun Control, Hunter Douglas, Glasscon GmbH, Kawneer, Insolroll, Skyco Shading Systems, Inc., Lutron Electronics Co., Inc., Unicel Architectural, Springs Window Fashions, and WAREMA Nederland B.V.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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