Outdoor Shutters Market Worth US$ 6.9 Billion by 2034: Smart Home Technology Integration as a Key Driving Factor, Highlighted by Transparency Market Research

News provided by

Jul 16, 2024, 13:11 ET

Outdoor shutters provide protection against extreme weather conditions such as storms, hurricanes, and excessive sunlight. The practical benefit drives demand in regions prone to severe weather.

WILMINGTON, Del., July 16, 2024 /PRNewswire/ -- The outdoor shutters market was projected to attain US$ 3.3 billion in 2023. It is likely to garner a 6.8% CAGR from 2024 to 2034, and by 2034, the market is expected to attain US$ 6.9 billion.

Shutters enhance the curb appeal and aesthetic value of properties. The increasing emphasis on home improvement and architectural design boosts the demand for stylish and customizable shutters. The durability and low maintenance requirements of modern outdoor shutters make them an attractive option for homeowners and businesses, leading to sustained market demand.

The integration of smart home technology with outdoor shutters, such as motorized and remote controlled options, is a significant trend. The advanced features offer convenience and align with the growing smart home market. There is a growing trend towards customization, allowing consumers to choose from a variety of colors, materials, and designs to match their specific needs and preferences.

Request a PDF Sample of this Report Now!
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=86131

Vintage and classic shutter designs are making a comeback as part of the broader trend towards nostalgic and timeless home decor styles. The expansion of the construction industry, particularly in emerging markets, is contributing to the increased demand for outdoor shutters as part of new building projects.

Key Findings of Market Report

Collaborations between shutter manufacturers and construction companies or home improvement retailers can create new sales avenues and boost market presence.
Seasonal changes and corresponding home improvement cycles influence the demand for outdoor shutters, particularly in regions with distinct seasonal weather patterns.
Increased consumer awareness about the benefits of outdoor shutters, including energy savings and property value enhancement, can drive market demand.
There is a growing preference for minimalist and modern design aesthetics, leading to demand for sleek, contemporary shutter styles.
Development of hybrid shutters that combine materials like wood and composite for enhanced performance and aesthetics is an emerging trend.

Outdoor Shutters Market Report Scope:

Report Coverage	Details
Forecast Period	2024-2034
Base Year	2020-2022
Size in 2023	US$ 3.3 Bn
Forecast (Value) in 2034	US$ 6.9 Bn
Growth Rate (CAGR)	6.8 %
No. of Pages	270 Pages
Segments covered	By Material, By Product Type, By Application, By Region, By End-use

Market Trends for Outdoor Shutters

By material, the composite shutters segment among these is expected to stimulate the growth of the outdoor shutters market.
Composite shutters are known for their exceptional durability and resistance to warping, cracking, and fading. They are designed to withstand harsh weather conditions, making them a preferred choice for outdoor applications.
Unlike wood, composite shutters require minimal maintenance. They do not need frequent painting or sealing, which reduces the overall upkeep cost and effort for homeowners.
On the basis of product type, the plantation shutters segment is anticipated to augment the market prospects.
Plantation shutters are highly versatile and can complement a variety of architectural styles, from traditional to contemporary. Their clean, classic lines and wide louver design add a sophisticated touch to any exterior.
The adjustable louvers of plantation shutters allow for precise control over light and privacy. Homeowners can tilt the louvers to allow in natural light while maintaining privacy, which enhances their functionality and appeal.

Global Market for Outdoor Shutters: Regional Outlook

North America

North America, particularly regions like the Gulf Coast and the Southeastern United States, is prone to hurricanes and severe storms.
Outdoor shutters provide critical protection against these extreme weather conditions, driving their demand.
The strong culture of home improvement and renovation in North America drives the demand for outdoor shutters.
Homeowners are continually looking for ways to enhance the aesthetics and functionality of their homes, with shutters being a favored upgrade.

Asia Pacific

The booming real estate and construction industry in countries like China, India, and Southeast Asian nations is a significant driver.
New residential, commercial, and hospitality projects often include outdoor shutters for their functional and aesthetic benefits.
There is growing awareness and adoption of home improvement products in the Asia Pacific region.
Consumers are increasingly recognizing the benefits of outdoor shutters, such as improved security, privacy, and aesthetic appeal.

Unlock Growth Potential in Your Industry! Download PDF Brochure:
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=86131

Outdoor Shutters Market: Key Players

The competitive landscape of the outdoor shutters market is characterized by the presence of several key players competing for market share.

The companies vary in terms of their product offerings, geographical presence, pricing strategies, and focus on innovation. The following companies are well known participants in the outdoor shutters market:

Timberlane Inc.
Royal Corinthian
Decorative Shutters
U.S. Shutter Company
Larson Shutter Company
Southern Shutter Company
Atlantic Premium Shutters
ShutterLand Exterior Shutters

Key Developments

In 2023, Westlake Royal Building Products revealed an extended collaboration with U.S. LUMBER and Amerhart, prominent brands under Specialty Building Products (SBP). The expanded partnership will encompass a variety of products and geographical locations. U.S. LUMBER and Amerhart are renowned distributors of building materials.
In 2022, Tucson Rolling Shutters Inc. announced plans to construct a 14,500-square-foot expansion adjacent to its current 12,000-square-foot facility in Tucson, United States. The expansion aims to accommodate the increasing demand for retractable patio screens, particularly in the regions of Arizona and Texas.

Outdoor Shutters Market Segmentation

Material

Wood Shutters
PVC Shutters
Aluminum Shutters
Composite Shutters
Others

Product Type

Plantation Shutters
Panel Shutters
Louvered Shutters
Bahama & Bermuda Shutters
Board & Batten Shutters
Solid Shutters
Tier-on-Tier Shutters
Shaker Style Shutters
Combination Shutters
Others

Application

Homeowners
Commercial Establishments
Hospitality Industry
Industrial Facilities
Others

End Use

Residential
Commercial
Industrial

Region

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

Buy this Premium Research Report: https://www.transparencymarketresearch.com/checkout.php?rep_id=86131&ltype=S

More Trending Reports by Transparency Market Research:

North America Outdoor Ice Rink Market: The North America outdoor ice rink market is projected to advance at a CAGR of 3.4% from 2023 to 2031
North America Residential Outdoor Gas Fire Pits Market: The North America residential outdoor gas fire pits market is projected to expand at a CAGR of 8.6% during the forecast period from 2022 to 2031
AI-based Chemical Manufacturing Market – Global market for AI-based Chemical Manufacturing is estimated to advance at a CAGR of 28.8% from 2024 to 2034 and reach US$ 37.6 Bn by the end of 2034

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Logo: https://mma.prnewswire.com/media/1682871/TMR_Logo_Logo.jpg

Contact:

Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN
1000 N. West Street
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Email: [email protected]
Follow Us: LinkedIn | Twitter | Blog | YouTube