At 5.8% CAGR, the Asia Pacific External Blinds Market is projected to be worth US$ 7,412.67 million by 2028 says Business Market Insights

According to Business Market Insights research, the Asia Pacific external blinds market  was valued at US$ 5,285.35 million in 2022 and is expected to reach US$ 7,412.67 million by 2028 registering a CAGR of 5.8% from 2022 to 2028. Growing residential and commercial construction activities and benefits of external blinds are the critical factors attributed to the Asia Pacific external blinds market  expansion.        

Commercial and residential constructions are continuously growing across the world, majorly in developing countries. According to the Ridgewater Homes website data, in 2021, there was a 10% growth in the construction of residential buildings in Australia. The growth is attributed to the rising demand for houses due to record-low interest rates, growth in sustained employment, and an increase in government programs such as HomeBuilder. Further, several government initiatives help the housing industry. For instance, according to the Yonhap News Agency website data of February 2021, the South Korean government announced that it will ease building regulations and support redevelopment projects in urban areas to increase the number of new houses to 836,000 nationwide. The latest housing policy focuses on increasing the home supply in the Seoul metropolitan area and other major cities to stabilize the heated real estate market. The latest policy consists of 323,000 new houses in Seoul, the hotspot of the real estate frenzy, and 293,000 in the surrounding Gyeonggi Province, according to the Ministry of Land, Infrastructure, and Transport. Moreover, strong economic conditions and low housing loan interest rates propel the expansion of construction activities in North America, Asia Pacific, and the Middle East & Africa. According to the Oxford Economics/Haver Analytics data of contribution to global construction growth 2020–2030, China, India, and the US are among the major contributors in residential construction activities. In 2021, residential construction activity is expected to be the fastest-growing sector globally at 7.1%, according to the Marsh LLC data. The residential sector accounted for 44% of total global construction in 2020, making it the largest subsector and a key driver of the global growth. Therefore, all these factors boost the construction of residential and commercial buildings. Thus, the rising construction activities propel the demand for external blinds, which drives the Asia Pacific external blinds market growth.

On the contrary, problems associated with automated external blinds hampers the Asia Pacific external blinds market .  

Based on product type, the Asia Pacific external blinds market is segmented into venetian blinds, roller blinds, vertical blinds, panel blinds, and others. The venetian blinds segment held 31.4% share of Asia Pacific external blinds market  in 2022, amassing US$ 1,661.94 million. It is projected to garner US$ 2,669.10 million by 2028 to expand at 8.2% CAGR during 2022–2028.

Based on operating system, the Asia Pacific external blinds market is bifurcated into manual and automated. The manual segment held 50.6% share of Asia Pacific external blinds market in 2022, amassing US$ 2,672.78 million. It is projected to garner US$ 4,033.70 million by 2028 to expand at 7.1% CAGR during 2022–2028.

Based on material, the Asia Pacific external blinds market is divided into metal, wood, plastic, and others. The metal segment held 35.8% share of Asia Pacific external blinds market in 2022, amassing US$ 1,893.45 million. It is projected to garner US$ 2,945.82 million by 2028 to expand at 7.6% CAGR during 2022–2028.

Based on end use, the Asia Pacific external blinds market is bifurcated into residential and commercial. The commercial segment held 54.5% share of Asia Pacific external blinds market in 2022, amassing US$ 2,882.60 million. It is projected to garner US$ 4,430.34 million by 2028 to expand at 7.4% CAGR during 2022–2028.

Based on country, the Asia Pacific external blinds market  is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 34.1% share of Asia Pacific external blinds market in 2022. It was assessed at US$ 1,804.17 million in 2022 and is likely to hit US$ 2,574.64 million by 2028 exhibiting a CAGR of 6.1% CAGR during 2022–2028.      

Key players operating in the Asia Pacific external blinds market  are Alulux GmbH, Hunter Douglas, NEVA, Serge Ferrari, and Warema Renkhoff SE, among others.

• In 2022, Hunter Douglas have acquired 74% of Droma-Sunshade Experts, polish assembler of made-to-measure exterior sunscreens, shutters, and a wing.

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