NEW YORK, March 31, 2021 /PRNewswire/ --
The blinds and shades market in US is expected to grow by USD 36.4 million during 2020-2024, expanding at a CAGR of about 1%. The report throws light on the impact of the COVID-19 pandemic on the market and the new opportunities and challenges market players can expect.
The construction industry in the US has grown significantly over the past few years. For instance, the private construction spending was approximately USD 995 billion in 2018 and is expected to increase during the forecast period. This can be attributed to factors such as improving economic conditions, rising job opportunities, and the government's commitment to boost the construction industry. The growth of the construction industry has simultaneously increased the demand for a wide range of home furnishing products, including blinds and shades, which, in turn, is driving the growth of the market in focus.
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In this report, Technavio highlights the increasing customer spending on home interior designing and household furnishing as one of the key emerging trends in the blinds and shades market in US.
Blinds and Shades Market in US: Increasing Customer Spending on Home Interior Designing and Household Furnishing
Consumers in the US pay more attention to decorating their homes with the best interiors to improve the aesthetic appeal. In addition, the growing population of working women and their participation in the decision-making process for home decoration have increased the interest in decorating homes. Moreover, rising income levels, changing lifestyles, growing media penetration, and the influx of different cultures have further increased consumer spending on different designs and luxury homeware. All these factors are expected to provide significant growth opportunities for market vendors during the forecast period.
"Rising demand for premium window covering products and the increasing online sales of home furnishing products will further boost market growth during the forecast period", says a senior analyst at Technavio.
Blinds and Shades Market in US: Segmentation Analysis
This market report segments the blinds and shades market in US by distribution channel (offline and online) and product (blinds and shades).
The blinds segment led the blinds and shades market in 2019. The dominance of the segment can be attributed to the increasing construction of new home offices, residential buildings, and commercial buildings.
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Some of the key topics covered in the report include:
Market Challenges
Market Drivers
Market Trends
Vendor Landscape
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Report: www.technavio.com/report/blinds-and-shades-market-in-us-industry-analysis
SOURCE Technavio
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