Global Solar Shading Systems market report 2024, Forecast To 2033
4 Mar, 2024
The solar shading systems market size has experienced steady growth, increasing from$15.14 billion in 2023 to$15.79 billion in 2024, with 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, and cost reduction. Looking forward, the solar shading systems market is expected to see steady growth, reaching$18.82 billion in 2028, with a compound annual growth rate (CAGR) of 4.5%. This growth in the forecast period can be attributed to advancements in smart technology, stringent environmental regulations, rising energy costs, urbanization and sustainable infrastructure, and 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, and technological innovations.
Global Solar Shading Systems Market Key Driver
The solar shading systems market is poised for growth driven by the resurgent expansion in construction and infrastructure development activities globally. Increased population, urbanization, economic development, and technological advancements contribute to the surge in construction projects, creating demand for building systems like solar shading systems. China, the largest construction market globally, is expected to grow at a rate of 8.6% between 2022 and 2030, according to the Infrastructure Report by Fitch Solutions. Likewise, India is projected to become the third-largest construction market, requiring substantial investments across infrastructure projects by 2022. Hence, the resurgent growth in construction and infrastructure development activities fuels the demand for solar shading systems, marking a promising outlook for the market.
Get A Free Sample Of The Global Solar Shading Systems Market ReportGlobal Solar Shading Systems Market Segments
The global 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
By Geography: The regions covered in the solar shading systems market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
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.
Major Solar Shading Systems Industry Players
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
Get The Full Global Solar Shading Systems Market ReportSolar Shading Systems Market Overview
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.
Solar Shading Systems Global Market Report 2023 provides data on the global solar shading systems market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The solar shading systems market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.