As per the report published by Fior Markets, the global solar shading systems market is expected to grow from USD 3,763.2 Million in 2018 to USD 5,021.9 Million by 2026 at a CAGR of 3.7% during the forecast period from 2019-2026.North America is dominating the market due to the presence of key leaders in the market. The region is dominating due to larger sales volume accompanied by consumption value. Also,the region has more advanced equipment, strong R & D capability, the technical level is in a leading position
Solar Shading Systems Market by Type (Fabric-based, Aluminium-based, Others),Application (Residential, Commercial, Others),Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2019 to 2026.
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Leadersin the industry WAREMA Nederland B.V., Glasscon GmbH, Thermosash, Alumet, Insolroll controller, Alliance Shadin, RodaLicht- und LufttechnikGmb, Comhan, InSync Solar, LINAK, Draper, Inc., Glazing GmbH, Solar Shading Systems, Inc. among otherswhichare offering greater opportunities and major players are continuously focused on new product developments and venture capital investments to obtain market share.For instance, in January 2019,Berthon Boat Company in the UK has expanded its activities with the acquisition of Marine IP, which trades under the name of VersaDock, for an undisclosed sum. Berthon used its Lymington Marina Ltd subsidiary to make the purchase.
The application segment is segmented into residential, commercial and industrial. The residential segment is dominating the market and valued around USD 1,926.75 Million in 2018. Increase in sales in the residential sector is caused by the installation of solar shading systems and devices in new construction, and growing home renovation activities. The type segment is segmented into fabric-based, aluminium-based and others. The aluminium-based segment is dominating the market with the highest share of 48.40% in 2018. Aluminium-based solar shading systems are highly preferred option adopted by manufacturers owing to their attributes such as rigidity and durability, and shield-protection from solar radiation.
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Increase in smart city projects is leading to growth of the market. Rise in global warming has motivated consumers and commercial space owners to install solar shading systems. But high cost is associated with the installation of systems which is restraining the growth of solar shading systems. However,rising popularity of smart homes is expected to complement the growth of the solar shading systems market in coming years.
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