Nordic Solar Shades Market: Introduction
Transparency Market Research delivers key insights on the solar shades market in Nordic. In terms of revenue, the solar shades market in Nordic is estimated to expand at a CAGR of ~3% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the solar shades market in Nordic.
The solar shades market in Nordic is broadly affected by several factors, including installation of windows and doors in commercial, industrial, and residential establishments; technological innovations in design of solar shades; and ongoing investments in construction of residential buildings. Furthermore, introduction of stringent regulations to minimize carbon emissions and several benefits associated with energy efficient technologies, such as reduction in energy consumption and low emissions, are some of the factors anticipated to propel the solar shades market in Nordic.
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Nordic Solar Shades Market: Dynamics
The demand for motorized solar shades has been increasing at a rapid pace in Nordic, as motorized solar shades allow an individual to open or close the shades by switching a button or flipping a push. Motorized solar shades enable consumers to attain greater control over the management of light and air that enters residential and commercial buildings. With smartphone-enabled operations, consumers can make the most of these systems. This is driving the demand for automatically controlled blinds and shades. Companies are making significant investments in the development of these products.
The development of blinds integrated with voice recognition technologies is another significant innovation that could boost the demand for blinds and shades. Thus, increase in demand for motorized solar blinds and shades is anticipated to create lucrative opportunities for the solar shades market in Nordic during the forecast period.
Recently, the carbon emissions have significantly increased in Nordic due to the burning of fossil fuels. According to the OECD stats, greenhouse gas emissions in Norway reached 52.02 million tons of CO2 equivalent, i.e. grew by 8.6% in 2018 since 1992. Governments of countries in Nordic have formulated several strategies to promote the adoption of energy efficient technologies in order to reduce GHG emissions in residential commercial establishments. This is anticipated to propel the solar shades market in Nordic during the forecast period.
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In terms of type, the blinds segment dominated the solar shades market in Nordic in 2019. The segment is expected to expand at a CAGR of 2.5% between 2020 and 2030 due to the technological advancements in the design of blinds. Manufacturers have come up with technologies such as remote control shades and automatic weather sensor shades. This is propelling the demand for blinds in Nordic.
Nordic Solar Shades Market: Prominent Countries
Sweden held key share of the solar shades market in Nordic in 2019, led by public and private sector investments in building and civil engineering works with positive developments in residential and infrastructure sectors. The solar shades market in Norway is projected to expand considerably during the forecast period. The need to limit the entry of excessive sun light is anticipated to propel the demand for solar shades in the country.
Nordic Solar Shades Market: Key Players
Major players operating in the solar shades market in Nordic are Somfy, ROYAL SOLSKJERMING AS, Wallners Persienn Markis, ANWIS Sp. z o.o., Bodø Markise Persiennefabrikk AS, Glasscon GmbH, Duco Ventilation Sun Control, Kawneer, Hunter Douglas, and WAREMA Renkhoff SE.
Nordic Solar Shades Market: Segmentation
Nordic Solar Shades Market, by Type
- Blinds
- Curtains
- Shutters
- Others (including Shades)
Nordic Solar Shades Market, by Operation
- Manual
- Automated
Nordic Solar Shades Market, by Product
- Internal
- External
Nordic Solar Shades Market, by Application
- Residential
- Commercial
- Industrial
Smart Shades, Home Automation Create Incremental Opportunities for Manufacturers
Cordless and motorized lift options in solar shades are boosting product uptake. Manufacturers in the Nordic solar shades market are increasing their RD capabilities to incorporate rechargeable motors in products that can be operated using mobile apps, remote controls, and even voice command. This has led to the concept of smart shades, as the smart home technology has become a fast growing phenomenon in the space of interior designing.
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Home automation with respect to lights, entertainment systems, and now solar shades is creating revenue opportunities for manufacturers in the Nordic solar shades market. As such, the Nordic solar shades market is estimated to reach a valuation of US$ 1.7 Bn by the end of 2030.
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