Asia Pacific External Blinds Market Forecast to 2028 - Regional Analysis - by Product Type, Operating System, Material, and End Use

The Asia Pacific external blinds market is expected to grow from US$ 5,285.35 million in 2022 to US$ 7,412.67 million by 2028. It is estimated to grow at a CAGR of 5.8% from 2022 to 2028.

Growing Residential and Commercial Construction Activities Fuels Asia Pacific External Blinds Market

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.

Asia Pacific External Blinds Market Overview

The growth of the external blinds market in Asia Pacific region is attributed to rise in construction activities and growing adoption for energy efficient security at home. The rise in the number of house renovations and people trying to change lifestyles has been observed in previous years. The idea of green buildings has got a lot of attention across the globe, particularly in South Asia, because of rising energy efficiency concerns. Furthermore, the demand for external blinds is likely to increase in coming years as green building initiatives become more prevalent in the Asia Pacific countries. In addition, the developments from key players in upgrading the products is also fueling the market growth. For instance, in July 2020, the Norman, office furnishing product company from Australia had introduced innovative fabric-based ‘Soluna Roller shades'. Thus, such upcoming developments, new building renovation trends with improved energy efficient houses, supportive government policies and rise in construction activities are some of the prominent factors influencing the demand for external blinds in Asia Pacific region which further drives the market outlook over the projected period.

Asia Pacific External Blinds Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific External Blinds Market Segmentation

The Asia Pacific external blinds market is segmented into product type, operating system, material, and end use, and country.

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 accounted the largest share of the Asia Pacific external blinds market in 2022.

By o n operating system, the Asia Pacific external blinds market is bifurcated into manual and automated. The manual segment held a larger share of the Asia Pacific external blinds market in 2022.

Based on material, the Asia Pacific external blinds market is divided into metal, wood, plastic, and others. The metal segment held the largest share of the Asia Pacific external blinds market in 2022.

By end use, the Asia Pacific external blinds market is bifurcated into residential and commercial. In 2022, the commercial segment held a larger share of the Asia Pacific external blinds market.

Based on country, the Asia Pacific external blinds market is segmented int o Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the share of the Asia Pacific external blinds market in 2022.

Alulux GmbH, Hunter Douglas, NEVA, Serge Ferrari, and Warema Renkhoff SE are some of the leading companies operating in the Asia Pacific external blinds market.

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