Japan Window Coverings Market Highlights Over 2020 - 2030
The Japan window coverings market is estimated to garner a revenue of USD 1018.9 Million by the end of 2030, by growing with a CAGR of 4.1% over the forecast period, i.e., 2021 – 2030. Moreover, in the year 2020, the market registered a revenue of USD 685.2 Million. The growth of the market can primarily be attributed to the rising urbanization in the country, and the increasing disposable income of the individuals of the nation, which is driving the need for aesthetic goods, such as window curtains, drapes, and others, amongst the citizens. Moreover, the growing hospitality sector in the nation, backed by the increasing number of tourist arrivals and rising travel spending, is also expected to create numerous opportunities for the market growth in the coming years.
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Japan is among the largest and most developed economies in the world. The nation also recorded to have the third largest economy in the world, behind the United States and China. According to the statistics by the World Bank, the GDP of Japan increased from USD 4.389 Trillion (in current US$) in the year 2015 to USD 5.065 Trillion in the year 2019. As a result, the population of the country enjoys a very high standard of living.
The people in Japan are increasingly preferring for window coverings so as to enhance the aesthetics of the window as well as the room. Moreover, with the rising focus of the government of the nation to promote its tourism and hospitality industry, there is a rising need amongst the owners of hotels to have world class standards of their rooms, which in turn is also expected to drive the demand for window coverings in the country. Besides this, the rising trend of rental houses in the nation is also projected to raise significant growth opportunities for market growth during the forecast period.
Growth Drivers and Challenges Impacting the Growth of the Japan Window Coverings Market
Growth Drivers
- Increasing Urbanization and Rising Household Disposable Income of Individuals
- Growing Tourism and Hospitality Industry in Japan
Challenges
- Increasing Preference for Smart Glass over Window Coverings
Japan Window Coverings Market Segmentation Synopsis
The Japan window coverings market is segmented by type into window blinds, window shutter, window shades, curtains & drapes, and others. Out of these, the window blinds segment is expected to generate the largest revenue of USD 371.6 Million by the end of 2030 by growing with the highest CAGR of 4.9% during the forecast period. Additionally, the segment registered a revenue of USD 231.6 Million in the year 2020. By curtain rail type, the market is segmented into rods, and tracks. Out of these, the rods segment generated the largest revenue in the year 2020, and is further expected to hold the highest market share during the forecast period. By distribution channel, the market is segmented into offline and online. Out of these, the offline segment is expected to grow with the highest CAGR of 4.1% during the forecast period and also attain the largest revenue by the end of 2030. Moreover, by end-user, the market is segmented into residential, and commercial. Out of these, the residential segment is projected to generate the largest revenue by the end of 2030. The commercial segment, on the other hand, is expected to grow with the highest CAGR of 4.3% during the forecast period.
Top Featured Companies Dominating the Market
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the Japan window coverings market that are included in our report are TOSO Company Limited, Nichibei Co., Ltd., Nien Made Enterprise Co., Ltd., Hunter Douglas N.V., Silent Gliss International Ltd., Nanik Japan, Inc., Carolina Blind Crafters, Lutron Electronics Co., Inc., Tachikawa Corporation, and others.
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