Roller shutter is a type of door or window consisting of slats hinged together. The main purpose of installing a roller shutter is to gain protection from environmental hazards, robbery, etc. Local governments are even subsidizing the product installation due to its increasing application in residential, commercial, as well as industrial sectors.
Nowadays, most of the installations are automated and integrated with doors or window units. The global roller shutter market is projected to reach market size of about US$ 92.3 Bn by 2026, with an average growth rate of about 7.9% during the forecast period.
Technological innovations by leading players leading to production of eco-friendly, energy saving, and noise protected windows & doors is anticipated to propel the market growth. In addition, rise in consumer spending on home remodeling in developed economies such as the U.S., has driven market growth in recent years. Government spending on infrastructure in emerging economies and strengthening of economies have led to increased spending by owners on home renovation projects.
Moreover, rapid economic development and growth in the tourism sector has encouraged the building of restaurants and hotels. This, along with increasing government funds for infrastructure development ventures, public funding, and a decrease in building material costs are providing opportunities for industry growth.
Many leading manufacturers along with engineers across several international workrooms are collaborating with architects, concentrating on the development of efficient and cost-effective designs, consequently meeting customer requirements. Additionally, some manufacturers are focusing majorly on enhancements in the residential sector with innovative designs, handiness, and material strength.
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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.