Electric Roller Shutter Market- Global Outlook & Forecast 2024-2029

MARKET INSIGHTS

The global electric roller shutter market was valued at USD 2.63 billion in 2023 and is expected to reach USD 3.72 billion by 2029, growing at a CAGR of 5.96% during the forecast period. The market is witnessing dynamic expansion and is propelled by several factors, such as the increasing number of passenger and commercial production vehicles, increasing urban population, developing manufacturing capabilities, and increasing disposable income. Manufacturers are developing smart technologies in electric roller shutters to provide hassle-free operations. Technological advances offer better opportunities for vendors to develop innovative electric roller shutters for various industries based on their needs. Moreover, electric roller shutters are preferred over manual ones due to their ease of operation, integration with IoT, and speed. Electric roller shutters have applications across multiple residential, industrial, and commercial sectors. In the residential segment, their applications are window shutters, patio doors, closers for minibars, and garage doors, among many others. Electric roller shutters are adopted at a higher rate in North America and Europe as these are developed regions of the globe and have higher income per capita. Also, the weather conditions in these regions will assist the growth of the electric roller shutter market.

MARKET TRENDS & DRIVERS

Increasing Demand for Garages in the Residential Sector

The increasing two-income households and disposable income have led to uplifting living standards. This can be witnessed in increasing demand for passenger vehicles, one of the first things a person invests in when there is an increase in disposable income. With this, there is a demand to construct a garage, especially in the European and North American regions. These garages would require electric roller shutters to ensure protection and safety for the goods inside the garage. Hence, the increasing demand for vehicles indirectly propels the growth of the electric roller shutter market.

Integration of IoT with Electric Roller Shutters

The advanced electric roller shutters in the recent era have been integrated with many IoT features to enhance the security and protection of the properties. With the integration, the property can be monitored over long distances. For example, many electric roller shutters are installed with fingerprint readers, ensuring access to the space is provided only to authorized personnel. In case of a break-in through these doors, alarm systems can be triggered, and a notification can be sent to the mobile application and the police services. Also, IoT has the advantage of impacting electric roller shutters through its smart technologies, which allow manufacturers to increase productivity and optimize assets. IoT in-build electric roller shutters can identify conventions to consume energy efficiently, and electric roller shutters can be optimized with the help of IoT technology.

SEGMENTATION INSIGHTS

INSIGHTS BY RAW MATERIALS

Based on raw materials, the global electric roller shutter market is segmented into aluminum, stainless steel, plastic, and others. Aluminum and stainless steel are the major raw materials due to their strength, corrosion resistance, and flexibility. Aluminum roller shutters are used as they are tough and can be easily shaped into many patterns. Aluminum can be found abundantly across the globe and easily procured by manufacturers. These roller shutters can be seen in warehouses, retail outlets, and industrial and commercial sectors. Due to the hard nature of the metal, it is a deterrent towards robbers and other crimes as high-quality cutters are needed to cut through the metals, which would take more time than other electric roller shutters.

INSIGHTS BY APPLICATION TYPE

The global electric roller shutter market by application type is segmented into exterior and interior. The exterior segment dominated the global market share in 2023 and is projected to continue the trend during the forecast period. The exterior electric roller shutters are used across multiple sectors, such as automotive, residential, logistics, and cargo handling, among many other areas. Some of the main reasons for installing these external electric roller shutters are to protect the goods and other materials inside the units from the sun, bad weather, ultraviolet rays, thieves, and high winds, among many others. These types of roller shutters are predominantly visible in the regions of North America and Europe. This is due to the extreme weather conditions faced by residential, industrial, and commercial establishments in these regions.

INSIGHTS BY BUILD TYPE

The built-on segment holds the most significant share of the global electric roller shutter market in 2023. Built-on electric roller shutters are one of the traditional ways of installing them. The built-on electric roller shutters are highly flexible and are mounted outside windows or doors. These roller shutters are suitable for buildings, warehouses, and storage units. They can be easily dismounted during any renovations and easily installed back. Also, the maintenance of these roller shutters is much easier than the built-in roller shutters. Further, the built-in electric roller shutters are mostly preferred in residential and high-end commercial stores due to their high aesthetic appearance. These roller shutters are gaining more market share in the residential sector due to the increasing double-income houses and rising living standards.

INSIGHTS BY MOTOR TYPE

The global electric roller shutter market by motor type is segmented as direct drive, tube motor drive, and chain drive. There are a variety of motors that are available to run the electric roller shutter systems. The direct drive motor has multiple advantages over the other motors due to its compact ability to lift heavy loads. In 2023, the direct drive segment dominated the global market share. The use of direct drive motors allows the deletion of mechanical transmission elements. This makes it more efficient and reliable. These motors can provide smooth and precise movement without the potential for slippage or wear, which can be associated with mechanical components. The application of these motors is seen across segments such as automation, packaging, machine tools, and semiconductor manufacturing equipment. Furthermore, the tube motor drive is preferred in electric roller shutters in the residential sector due to their small size and ability to fit anywhere.

INSIGHTS BY END-USER

The global electric roller shutter market by end-users is segmented as commercial, industrial, and residential. The commercial segment dominated the segmental market share in 2023. Expansion activities worldwide demand installing safety door systems and equipment to propel market growth. Also, the commercial sector utilizes various available electric roller shutter options. However, maintenance in various sectors such as construction, furnishing, residential, and many other industries propels the demand. Also, the global residential sector is witnessing growth due to factors such as urbanization and the support of the growth of the residential segment during the forecast period.

INSIGHTS BY DISTRIBUTION CHANNEL

The offline distribution channel accounted for the largest global electric roller shutter market share in 2023 and is growing significantly during the forecast period due to high customer preference to comprehend the functionalities and uses of the product before making the final purchase. Moreover, since electric roller shutters have high costs, the preference for the offline channel is high to minimize the risk of receiving duplicate products. Further, dealers & distributors are the prime sellers of roller shutters. They sell these roller shutters on behalf of manufacturers. Larger dealers also offer 48-hour dealer delivery and guaranteed parts availability to maintain an edge in the market. Distributors such as Janus International provide extended warranties for up to five years and an annual service at the dealership.

GEOGRAPHICAL ANALYSIS

North America holds the most significant global electric roller shutter market share, valued at over USD 879 million in 2023. Large-scale industries such as automobiles, construction, electronics, and aerospace are driving the market for electric roller shutters in the region. Further, electric roller shutters are also used for various household applications such as garage doors, window shutters, and storage unit shutters. Electric roller shutters are compact and handy, which makes them easy to handle and use. It is also comparatively safe and has a simpler operating procedure than manual roller shutters. Thus, the residential or household usage of electric roller shutters is also generating widespread demand in the North American market.

Europe holds a significant position in the global electric roller shutter market. The region's major markets for electric roller shutters include the UK, Germany, and France. Other markets, such as Finland and Poland, are expected to be promising for electric roller shutters due to rising purchasing and increased industrial growth. The manufacturers also introduce electric roller shutters for their effort-free operation and security benefits. Also, the demand for garages, storehouses, and electric roller shutters in Western European countries like the U.K. and France is considerably higher than that of Eastern European countries due to the rate of disposable income and purchasing power. Thus, the scope for electric roller shutters is larger in Western countries and has growth potential in the growing economies of Eastern countries during the forecast period.

COMPETITIVE LANDSCAPE

The global electric roller shutter market is characterized by high market concentration, with high competition among the players. The present scenario drives vendors to alter and refine their unique value proposition to achieve a strong market presence. Also, vendors must develop new technologies and remain up to date with upcoming innovations to have a competitive advantage. The global electric roller shutter market is moderately fragmented and is dominated by vendors such as Janus International Group, Sanwa Holdings Corporation, and SOMFY GROUP. All these significant vendors have a global presence in North America, APAC, and Europe. The market competition is expected to intensify further with increased product extensions, technological innovation growth, and merger and acquisition activities. Further, the competition will be based solely in terms of features such as quality, quantity, technology, services, and price.