Overview and Scope
The solar shading system is a method used to mitigate solar radiation in the form of heat and light in a building. Solar shading systems offer strong architectural features and solutions for intensive solar radiation and enable shading.
Sizing and Forecast
The solar shading systems market size has grown steadily in recent years. It will grow from $15.14 billion in 2023 to $15.79 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to government incentives, energy efficiency awareness, architectural trends, environmental concerns, cost reduction.
The solar shading systems market size is expected to see steady growth in the next few years. It will grow to $18.82 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%. The growth in the forecast period can be attributed to advancements in smart technology, stringent environmental regulations, rising energy costs, urbanization and sustainable infrastructure, innovation in materials. Major trends in the forecast period include increased emphasis on aesthetics, automation and iot connectivity, energy efficiency certification standards, growing demand for zero-energy buildings, technological innovations.
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Segmentation & Regional Insights
The solar shading systems market covered in this report is segmented –
1) By Product Type: Blinds, Shades, Louvers, Textiles
2) By Material: Metal, Glass, Wood, Other Materials
3) By Technology: Battery Powered, Manual, Smart Power Source
4) By Mechanism: Fixed, Manual, Motorized
5) By Application: Residential, Commercial, Industrial
North America was the largest region in the solar shading systems market share in 2023. The regions covered in the solar shading systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The resurgent growth in the construction and infrastructure development activities is expected to propel the solar shading systems market. The construction and infrastructure development activities are growing due to the increase in population, rise in urbanization, economic and social development, need for increased productivity, technological advancements, and others. This growth in the construction and infrastructure development activities will create demand for building systems and equipment including solar shading systems which are an integral part of building to control the heat and light emitted from the sun inside the buildings. For instance, according to the Infrastructure Report by Fitch Solutions, a US-based financial services company, China is the largest construction market globally and is expected to grow at a rate of 8.6% between 2022 and 2030. In addition, India is expected to be the third largest construction market globally by 2022 and needs investment worth $777.73 billion across infrastructure by 2022 for sustainable development. Therefore, resurgent growth in the construction and infrastructure development activities is driving the demand for the solar shading systems market.
Key Industry Players
Major companies operating in the solar shading systems market report are Sanofi Pasteur SA, GlaxoSmithKline plc, Merck & Co. Inc., Pfizer Inc., Johnson & Johnson Private Limited, AstraZeneca plc, Takeda Pharmaceutical Company Limited, Sun Pharmaceutical Industries Ltd., Mallinckrodt Pharmaceuticals, Emergent Biosolutions Inc., PT Bio Farma, Bharat Biotech International Limited, Teva Pharmaceutical Industries Ltd., Novartis AG, Mylan NV, Serum Institute of India Pvt. Ltd., Biological E. Limited, Panacea Biotec Ltd., Shantha Biotechnics Pvt. Ltd., Cadila Healthcare Ltd., Merck Sharp & Dohme Corp., AstraZeneca Limited, Boryung Pharmaceutical Co., Bio-Med Pvt. Ltd., LG Chem is a South Korean chemical company, SK Chemicals Co. Ltd., Crucell Switzerland AG, Hualan Biological Engineering Inc., Indian Immunologicals Limited
The solar shading systems market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
………
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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