Roller Shutter Market: Snapshot
Roller shutter is a window or door with slats hinged together. This product is widely installed by major global population to get protection from robberies and environmental hazards. Many governments are taking initiatives to promote the use of roller shutters. One of such initiatives is subsidizing the installation of these products. As a result, there is increased demand for roller shutters in industrial, residential, and commercial sectors. This signifies the growth avenues for the roller shutter market.
Based on product type, the global roller shutter market is segmented into built in roller shutter, built on roller shutter, roller shutter with tilted laths, and integrated roller shutter. Increasing need for security, safety, and convenience are projected to push the global roller shutter market growth. It is estimated to show stupendous growth with a CAGR of around 7.9%. The market is expected to reach the size of around US$ 92.3 bn by 2026 during the forecast period.
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Increased Need for Safety Is Fueling Market Growth
Increasing trend of having nuclear family system has triggered concerns related to safety of individuals. This situation has prompted many people to install roller shutters. Besides, increasing use of these products from a range of end-users such as shops, industrial areas, and offices is expected to fuel the roller shutter market growth.
Roller shutter are available in two operating systems, manual and automated. With growing digitization and automation in all sectors, there is increased preference for installing automated roller shutters. Moreover, these products are now available with integrated window or door units. Depending on the type of material used, the roller shutter market is segmented into synthetic, wood, glass, and metal.
Presence of many players signifies the intense level of competition in the global roller shutter market. Alulux GmbH, AM Group, Bunka Shutter Co., Ltd., Assa Abloy Group, and Ferco Seating Systems are some of the key vendors representing the market.
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Global Roller Shutter Market – Snapshot
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.
The global roller shutter market is anticipated to be driven by factors such as need for safety, security, and convenience, digitization &automation, and increase in population and trend of nuclear families. Roller shutters provide safety from natural disasters and burglary. They are gaining traction as they offer fire resistance up to certain number of hours. Galvanized roller shutters have a protective zinc coating to protect them from extreme temperatures to some extent. Built-on roller shutters are the most preferred product due to their durability. Manufacturers are introducing new product designs to form a new type of lath consisting of synthetic and metallic material to offer protection from the external environment. Pinto Srl, an Italy- based company, manufactures roller shutter laths made of aluminum, polyurethane, and PVC. Traditionally, roller shutters were operated manually. However, with time and with development of technology, consumers are moving to automatic and motor-operated roller shutters. Currently, roller shutters can be operated by one touch or remote control technology. Europe and North America significantly install automated roller shutters in their commercial and residential spaces. The use of mobiles and Android devices to operate the roller shutter is also driving the market. Roller shutters are not a luxury product, and they can be installed by anyone for the purpose of safety. Roller shutters with tilting laths are gaining popularity in the window segment which lets in air and sunlight in residential and commercial applications.
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Roller shutters are not expensive and can be installed by any household or small retail shop or kiosk. The trend of urbanization and nuclear families has increased the number of households in the world. Colonial shutters and accordion shutters are substitutes of roller shutters. Classically designed colonial roller shutters originated in Europe. These shutters reduce the frequency of storms and allow the entry of bright light. These advantages of colonial shutters are likely to hamper the growth of the roller shutter market.
As demand for roller shutters is increasing due to additional security and insulation needs, manufacturers are looking for more advanced features including power saving and noise protection for consumer convenience. Therefore, product innovation and increased security and insulation properties for both personnel access and commercial/ industrial doors is likely to serve as key factors providing market opportunities. Government spending on infrastructure in emerging economies and strengthening of economies have led to increased spending by owners on home renovation projects. Rapid urbanization and industrialization in developing regions such as Asia Pacific are providing lucrative opportunities for the global roller shutter market. Over the years, industrialization and urbanization are two important transformations that have shaped APAC’s emerging economies. As the population is rising, the need to build more housing units in urban and rural areas to accommodate the growing population is likely to fuel the product demand. Commercialization and rapid urbanization in emerging economies including India, Thailand, and Indonesia will create more opportunities for industry growth. Some of the key trends in the roller shutter market is that the market trend is shifting toward high security and insulated roller shutters. Another trending factor is that existing buildings are being increasingly renovated due to the trend toward smart homes.
Some of the key players profiled in the global roller shutters market includes AM Group, Alulux GmbH, Assa Abloy Group, Bunka Shutter Co., Ltd., Ferco Seating Systems, Heroal, Hormann Group, Novoferm Gmbh, Sanwa Holdings Corporation, SKB Shutters, Stella Group, and Zurflüh-Feller.
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