According to a new research report by Transparency Market Research (TMR), a leading market research and intelligence firm, the global roller shutter market is reporting a significant increase in its valuation. The rising awareness regarding the benefits of roller shutters, such as insulation and additional security, among consumers is boosting the growth of this market. The increasing number of new households is fueling the demand for roller shutters across the world.
According to TMR, the global roller shutter market will proliferate at an impressive CAGR of 7.90% during the period from 2018 to 2026. The opportunity in this market is predicted to reach US$92.3 bn by the end of the forecast period. On the flip side, this market may witness a slowdown in growth over the coming years due to the high usage of colonial shutters. The advantages of colonial shutter, such as easy entry of bright light and reduced frequency of storms, limit the demand for roller shutters among consumers. Nonetheless, the increasing expenditure by several governments on improving infrastructure in emerging countries will balance the effects of these hindering factors in the long run.
Apart from this, the strengthening of economies is leading to increased spending on home renovation by owners, which is also expected to support the worldwide roller shutter market, states the research report.
Europe Continues to Lead Global Roller shutter Market
In terms of the geography, the worldwide roller shutter market reports its presence mainly across North America, Europe, the Middle East and Africa, Latin America, and Asia Pacific. In 2016, Europe led the global market with a share of 43%. Researchers predict this regional market to remain on the top throughout the forecast period, thanks to the rising number of nuclear families, resulting in increased number of households.
Among other regional roller shutter markets, Asia Pacific is expected to witness a considerable rise in their market spaces. Swift urbanization and industrialization will propel the Asia Pacific market in the near future. With the increasing population, the need to build new homes in urban and rural setting is rising as well. The rapid commercialization is also expected to boost the Asia Pacific roller shutter market, reports the study.
The report highlights key developments in the roller shutter market. Porter’s Five Force Analysis which identifies bargaining power of suppliers, bargaining power of buyers, threat from new entrants, threat from substitutes, and degree of competition is included in the report. Value chain analysis which shows workflow in the roller shutter market and identifies raw material service providers and distribution channels are covered in the report. Segment trends and regional trends are part of the report. It also covers segment-wise comparison matrix, incremental opportunity analysis, and market positioning of key players for all regions covered in the scope of study.
Incremental opportunity analysis identifies and compares attractiveness of segments based on CAGR and market share index across North America, Europe, Asia Pacific, Middle East & Africa, and South America along with all the countries included in these regions. The same has also been provided for the product segments.