Japan window coverings market to grow with a CAGR of 4.1%Travel And Tour World

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Published on : Wednesday, February 16, 2022

According to the statistics by the Japan National Tourism Organization (JNTO), visitor arrivals to Japan grew from 8611175 numbers in the year 2010 to 31882049 numbers in the year 2019.

Moreover, travel spending per foreign traveler in the country grew from 130819 units in the year 2011 to 158531 units in the year 2019.

Besides this, the GDP of the country, according to the statistics by the World Bank, touched USD 5.065 Trillion (in current US$) in the year 2019, by growing from USD 4.389 Trillion (in current US$) in the year 2015.

Research Nester has recently released a report titled “Japan Window Coverings Market: Demand Analysis & Opportunity Outlook 2020-2030” which includes a detailed analysis of the key market players, along with their latest developments, and their market strategies.

Moreover, the report, which is studied for the forecast period, i.e., 2021-2030, focuses on the latest market trends, and the major driving factors for market growth.

The tourism and hospitality industry in Japan, which also contributes significantly to the GDP of the nation, is soaring at rocket speed.
The industry is also one of the major consumers of window coverings, including products such as curtains, drapes, and others.

According to the statistics by the International Trade Center (ITC), Japan was the third-largest importer of curtains, including drapes and interior blinds, registering growth in import value from USD 211550 Thousand in the year 2015 to USD 250365 Thousand in the year 2020.

Furthermore, the preferences for window coverings, such as curtains, drapes, shutters, and blinds among others, are growing significantly in the nation as these products are known to enhance the aesthetics of the room or the house.

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Moreover, with the growing living standards of Japanese people, backed by the surge in household disposable income and rising urbanization, the demand for window coverings is projected to grow significantly in the coming years.

According to the statistics by the Organization for Economic Co-Operation and Development (OECD), the gross adjusted household disposable income in Japan grew from USD 25024/capita in the year 2008 to USD 29891/capita in the year 2017.

On the other hand, in one of the statistics by the World Bank, the urban population as a share of the total population in the country touched 91.782% in the year 2020, up from 78.649% in the year 2000.

The Japan window coverings market, which generated a revenue of USD 685.2 Million in the year 2020, is further projected to touch USD 1018.9 Million by the end of 2030, by growing with a CAGR of 4.1% during the forecast period.

Moreover, the market is expected to register a Y-o-Y growth of 4.28% in the year 2030 as compared to the previous year. The market growth can also be attributed to the numerous opportunities generated by the rising availability of dwellings in the nation, as well as the increasing trends of rental homes.

According to the statistics by the Statistics Bureau of Japan, the total number of dwellings in the nation increased from 57586 Thousand in the year 2008 to 62407 Thousand in the year 2018.

The Japan window coverings market is segmented on the basis of type into window blinds, window shutter, window shades, curtains & drapes, and others.

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Out of all these segments, the window blinds segment registered the largest revenue of USD 231.6 Million in the year 2020 and is further expected to touch USD 371.6 Million by the end of 2030, by growing with the highest CAGR of 4.9% during the forecast period.

The segment is also expected to attain the fastest growth of 1.6X over the forecast period. The window shades segment, on the other hand, is expected to grow with the second-highest CAGR of 4.1% during the forecast period and also register the second-largest revenue of USD 260.5 Million by the end of 2030.

The Japan window coverings market is further segmented by curtain rail type into rods and tracks.

Out of these two segments, the rods segment is projected to generate the largest revenue by the end of 2030 and also register the highest market share over the forecast period.

Additionally, the tracks segment is expected to attain the fastest growth of 1.4X and grow with the highest CAGR of 3.7% during the forecast period. The segment is further divided into corded tracks, bay window tracks, uncorded tracks, double curtain tracks, and others.

Amongst all these segments, the corded tracks segment is expected to generate the largest revenue of USD 39.9 Million by the end of 2030.

Meanwhile, the bay window tracks segment is predicted to grow with the highest CAGR of 4.1% during the forecast period.

The Japan window coverings market is also segmented on the basis of distribution channel, and by end-user.

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Japan Window Coverings Market, Segmentation by Distribution Channel

Offline

Online

Japan Window Coverings Market, Segmentation by End-User

Residential

Commercial

Hotels & Restaurants

Hospitals

Academic Institutions

Office Buildings

Others

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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Tags: International Trade Center (ITC), The Japan National Tourism Organization (JNTO)

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