Solar Shading Systems Market to Reach $15.8 Billion by 2031, Driven by Need for Sun Protection and Innovations
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The global solar shading systems market is projected to reach USD 15.80 billion by 2031, growing at a CAGR of 3.8% over the forecast period. The market growth is driven by the need for sun protection, increased living space, and technological innovations.
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North America accounts for the largest share of the global solar shading systems market. High purchasing power and rising demand from residential & commercial sectors are fueling the growth.
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By product type, blinds dominate the market. By geometry, horizontal shading systems hold the largest share. Motorized mechanism is the fastest growing segment.
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Key players in the market include Duco Ventilation & Sun Control, Hunter Douglas Inc., Lutron Electronics Co. Inc., Springs Window Fashions, and WAREMA Renkhoff SE.
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In August 2022, Talrus Limited acquired Levolux Limited from Alumasc Group, adding another solar shading systems provider to its portfolio. This acquisition will support Levolux's growth.