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Roller Shutter Market Predicted to be Worth $88.3 Billion by 2031
The roller shutter market is poised to experience significant growth in the coming years, according to a recent report by Transparency Market Research (TMR). The global market is expected to grow at a compound annual growth rate (CAGR) of 4.5% from 2022 to 2031.
Door roller shutters, made from durable materials like glass, metal, wood, and synthetic sheets, have gained popularity for their strength and durability. The door segment is predicted to take up a large market share in the near future.
One of the key drivers for the growth of the roller shutter market is the demand for safety and security in homes and commercial spaces. Roller shutters provide protection from physical damage, climate conditions, fire, and theft. The increasing popularity of fireproof roller shutters has also contributed to the market growth.
The industrial sector is also expected to play a major role in the growth of the roller shutter market, as the construction industry expands globally. The growth of e-commerce and the need for warehouses has fueled the demand for roller shutters.
Additionally, governments in both developed and developing countries are investing in infrastructure development projects, which will drive the demand for window roller shutters. The rise in the number of homes being built and the increasing demand for privacy, sun protection, and noise reduction will also contribute to the growth of the market.
Another factor driving the growth of the roller shutter market is the adoption of smart home technologies, the expansion of the hospitality sector, and the rapid growth of the construction industry.
Europe currently holds the largest market share for roller shutters, driven by the growth of the construction industry, the adoption of smart homes, and the use of security roller shutters. However, the Asia Pacific region is expected to offer significant business opportunities for the market, due to rising disposable incomes, rapid urbanization and industrialization, and an increase in home sales.
The roller shutter market is consolidated, with a few established players holding the majority of market share. Companies are investing in research and development to create advanced products, and adopting strategies such as mergers and acquisitions, and product launches to gain a larger market share. Key players in the market include Aluprof SA, Alulux GmbH, Hormann Group, Ferco Seating Systems, Sanwa Holdings Corporation, and more.
