Garage Door Market Size | USD 28.85 Bn by 2030 | C.H.I. Overhead Doors (USA)
Global Garage Door Market Projected to Reach US$28.85 Billion by 2030, Driven by Convenience and Security Demands
The global garage door market is poised for steady growth, reaching an estimated US$28.85 billion by 2030, according to a new report by Maximize Market Research. This translates to a Compound Annual Growth Rate (CAGR) of 6.12% from 2023. The report highlights a rising preference for convenience and security as key factors driving market expansion.
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Market Overview
Garage doors play a vital role in modern homes and commercial establishments, providing security for vehicles and storage areas. With advancements in technology and materials, garage doors offer a blend of functionality and aesthetics, catering to diverse consumer preferences.
Market Scope
Maximize Market Research delves deep into the global garage door market landscape. The report offers a comprehensive analysis of market segments, growth drivers, and challenges faced by the industry. It identifies leading players and their strategies, while examining regional dynamics and the impact of COVID-19 on the market.
Segmentation Reveals Consumer Trends
The report explores various market segments that influence consumer choices:
Category: Automatic garage doors are leading the market due to the convenience they offer. Wireless opening and closing technology, coupled with features like vacation mode and keypad security, are driving consumer preference for automation.
Door Type: Overhead garage doors dominate the market due to their space-saving design. Subcategories like sectional overhead doors and roll-up doors cater to specific needs and functionalities.
Door Opener Type: Belt drive openers are gaining traction due to their quiet operation, while chain drive openers remain popular for their affordability.
Material Type: Steel remains the most popular material for its durability and affordability. However, alternatives like aluminum and fiberglass offer lightweight options with aesthetic appeal.
Smart Garage Door Controller: Wi-Fi based controllers are leading the way, enabling homeowners to integrate their garage door system with smart home ecosystems.
Application: Residential applications account for the majority of the market share. However, the commercial segment is expected to witness significant growth due to rising demand in warehouses, hospitals, and office complexes.
Key Players Shaping the Garage Door Industry
The report identifies prominent players across key regions:
North America
Overhead Door Corporation (USA)
Clopay Building Products Company (USA)
Amarr Garage Doors (USA)
PerforMax Global (USA)
C.H.I. Overhead Doors (USA)
Delden Garage Doors (USA)
Northwest Door (USA)
Raynor (USA)
Wayne Dalton (USA)
Midland Garage Door (USA)
Clopay Corporation (U.S)
1st United Door Technologies (USA)
Garex (Canada)
Garaga (Canada)
Martin Door (USA)
Europe
Garador (United Kingdom)
Hormann (Germany)
Dynaco (Belgium)
Novoferm (Germany)
Teckentrup (Germany)
Ritehits (UK)
Alulux (Germany)
Convenience and Security Drive Market Growth
Several factors are contributing to the expansion of the global garage door market:
Rising Demand for Convenience: Automatic garage doors with remote and smartphone controls enhance comfort and security, particularly in harsh weather conditions.
Increased Security Concerns: Consumers are increasingly prioritizing security features like automatic closing mechanisms and keypad access control.
Growing Focus on Aesthetics: With various material and design options available, homeowners can choose garage doors that complement the overall aesthetics of their property.
Urbanization and Construction Boom: Rising urbanization and a surge in new construction projects are driving demand for garage doors in both residential and commercial sectors.
Regional Analysis Identifies Growth Opportunities
The report provides a regional breakdown of the market, highlighting areas with significant potential:
North America: Currently holds the leading market share due to a strong presence of established manufacturers and high disposable incomes.
Asia Pacific: Projected to witness the fastest growth due to rapid urbanization, growing middle class, and increasing investments in infrastructure development.
Europe: A mature market with established players, but with continued growth in demand for smart and automated garage door solutions.
COVID-19 Impact
The COVID-19 pandemic initially disrupted supply chains and construction activities. However, the market has shown signs of recovery as homeowners focused on improving their living spaces and businesses adapted to remote work models.
Key Questions Answered
The report addresses critical questions for industry stakeholders:
What is the projected growth rate of the global garage door market?
Which segment is expected to lead market growth in the coming years?
Who are the key players in the garage door industry
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