Global Solar Shading Systems Market Size is projected to reach USD 15.80 billion by 2031, growing at a CAGR of 3.8%: Straits Research

In the upcoming years, continuous technological improvements in the worldwide Solar Shading Systems Market will create sufficient growth prospects for solar shade manufacturers and suppliers. The most important players in the market are already moving their attention toward innovation and technical improvements to preserve their position as front-runners in their industry and secure a sizable portion of the market share.

New York, United States, March 13, 2024 (GLOBE NEWSWIRE) — Using solar darkening equipment enables the prevention of solar radiation from infiltrating buildings. This can be achieved through a variety of means. In addition, they desire a broader adoption to protect residential and commercial spaces from the adverse effects of extreme heat. These systems provide dependable architectural solutions and characteristics that safeguard users from the sun’s harmful rays.

In addition, because they have such a profound effect on the architecture of the building, they can completely alter the appearance of a structure, whether it has recently undergone renovations or is being constructed from the ground up. This is true regardless of whether the building was recently renovated or is being constructed from the ground up. This allows them to do so while minimizing the amount of solar heat absorption, reducing their energy consumption. Schools and other public and commercial buildings, such as offices and other places of employment, can benefit from their installation regardless of whether the buildings are new or occupied.

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Market Dynamics

Expansion of Living Space and Protection from Sun Drives the Global Market

In a residential or commercial location, installing a solar shading system offers sun protection and increased usable space as its two primary benefits. Solar shading systems come in various shapes and sizes, and they can be used to reduce the heat that penetrates structures such as homes, offices, and restaurants. Additionally, there is a reduction in the need for air conditioning during the hot summer months, resulting in cost savings and protection for furniture, draperies, and carpeting. In addition, pergolas enable the extension of a temporary outdoor space that is aesthetically appealing and functional. It provides space for individuals to study or engage in other activities and a partially shaded outdoor seating area.

Technological Innovations in Its Mechanism Creates Tremendous Opportunities

According to Straits Research, “The global solar shading systems market was valued at USD 11.3 billion in 2022. It is estimated to reach USD 15.80 billion by 2031, growing at a CAGR of 3.8% during the forecast period (2023–2031).” Consistent technological advancements in the global Solar Shading Systems Market are anticipated to generate ample growth opportunities for solar shade manufacturers and suppliers in the coming years. The most significant market participants are already focusing on innovation and technological advancements to maintain their position as industry leaders and secure a substantial market share. In addition, introducing a motorized solar shading system that can be retracted with a switch, remote control, or even a smartphone has attracted the attention of the commercial and luxury residential markets. This system can prevent solar rays from penetrating a structure.

In addition, Lutron has designed individualized shading schedules that, by combining information about the facade’s orientation and the building’s location, allow more direct sunlight to penetrate deeply into the workspace. These technological advancements and innovations, which market leaders are implementing in the solar shading systems market, will provide the market with lucrative opportunities.

Report Scope

Study Period 2019-2031 CAGR 3.8%
Historical Period 2019-2021 Forecast Period 2023-2031
Base Year 2022 Base Year Market Size USD 11.3 Billion
Forecast Year 2031 Forecast Year Market Size USD 15.80 Billion
Largest Market North America Fastest Growing Market Europe

Regional Analysis

North America is the most significant global solar shading systems market shareholder and is estimated to exhibit a CAGR of 3.5% over the forecast period. Regarding revenue, North America is the region with the greatest market for solar shading. The U.S. solar shading industry has been developing for a while, and the arrival of automated and motorized solar shading systems has given the business new life. The region’s patio and outdoor solar shading systems expansion is anticipated to be significantly fuelled by increased demand in both the residential and commercial sectors.

Furthermore, due to the increase in end users’ purchasing power, the market in the area also demands luxury solar shading solutions. Increased consumer preference for energy conservation and solar protection impacts the North American solar shading sector. Major players like Hunter Douglas and Insolroll are concentrating on creating cutting-edge solar shading solutions to accelerate the market’s growth. Furthermore, the business sector has seen a large increase in demand for solar shading solutions. Several benefits, including affordability, attractiveness, and solar protection, explain this. Therefore, all of these factors are anticipated to fuel market expansion.

Europe is anticipated to exhibit a CAGR of 3.7% over the forecast period. There are numerous market players in this area. Some players control the region or nation where they operate. As a result, it is challenging for new businesses to enter the market and gain clients. The regional players can launch new and enhanced solar shading systems to accommodate the increase in client demand. A prospective market for solar shading systems is also found in Europe because of its developed infrastructure, easy access to high-end goods and technology, and high discretionary income.

Additionally, one of the main drivers of expanding the European market is a rise in investments made by nations like Germany, France, and the UK in high-end technology solar shading systems. Residential construction is predicted to help the German market grow even more. The region’s trend and the moderate rise in residential and commercial development activity are anticipated to slow the market’s growth.

Key Highlights

  • Based on the product type, the global solar shading systems market is bifurcated into blinds, shades, louvers, and textiles. The blinds segment dominates the global market and is projected to exhibit a CAGR of 3.3% over the forecast period.
  • Based on geometry, the global solar shading systems market is segmented into horizontal, vertical, and egg-crate. The horizontal segment dominates the global market and is predicted to exhibit a CAGR of 3.3% over the forecast period.
  • Based on mechanism, the global solar shading systems market is bifurcated into fixed, manual, and motorized. The motorized segment owns the highest market share and is predicted to exhibit a CAGR of 4.6% over the forecast period.
  • Based on material, the global solar shading systems market is divided into metal, glass, wood, and others. The metal segment is the most significant contributor to the market and is estimated to exhibit a CAGR of 4.3% over the forecast period.
  • North America is the most significant global solar shading systems market shareholder and is estimated to exhibit a CAGR of 3.5% over the forecast period.

Competitive Players

The key players in the global solar shading systems market are Duco Ventilation & Sun Control, Glasson GmbH, Hunter Douglas Inc., Insolroll Corporate, Kawneer (Arconic Corporation), Lutron Electronics Co. Inc., Skyco Shading Systems Inc., Springs Window Fashions, Unicel Architectural Corp., and WAREMA Renkhoff SE.

Market News

  • In August 2022, Talrus Limited, a UK-based associated company of Rcapital Partners LLP, a private investor, acquired Levolux Limited from Alumasc Group for an undisclosed amount. With this acquisition, Rcapital Partners added another portfolio to its business and will support the growth of Levolux. Levolux Limited is a UK-based firm offering solar shading systems, architectural solutions, and balconies.
  • In February 2022, Coulisse B.V. and Eve Systems partnered to launch smart window coverings that smartphones could operate. These smart solar sunlight control systems used HomeKit and Thread integration.

Global Solar Shading Systems Market: Segmentation

By Product Type

  • Blinds
  • Shades
  • Louver
  • Textiles

By Geometry

  • Horizontal
  • Vertical
  • Egg-Crate

By Mechanism

  • Fixed
  • Manual
  • Motorized

By Material

  • Metal
  • Glass
  • Wood
  • Others

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

Get Detailed Market Segmentation @ https://straitsresearch.com/report/solar-shading-systems-market/segmentation

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