The global garage door market is poised for significant growth over the next decade, driven by increasing construction activities, the rise in smart home popularity, and growing awareness about safety and security. Valued at $18.0 billion in 2022, the market is projected to expand at a compound annual growth rate (CAGR) of 5.0%, reaching an estimated $27.6 billion by 2031.
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Analysts’ Viewpoint
Analysts attribute this growth to several key factors, including the surge in residential and commercial infrastructure projects and a heightened focus on sustainability. As urbanization and industrialization continue to expand, the demand for innovative, high-quality garage door solutions is increasing. This is particularly evident in both developed and developing regions, where modern home improvement projects and commercial infrastructure developments are on the rise.
Market Introduction
Garage doors, essential for providing protection against theft, climatic conditions, and fire, are increasingly being adopted in both residential and commercial spaces. Available in various types such as overhead, roll-up, sectional, and sliding doors, these products are constructed using materials like wood, steel, and aluminum, and can be either manual or automatic.
The market is experiencing a notable uptick in demand, driven by the convenience and security offered by automated garage doors. These doors allow for remote operation, adding a layer of ease and efficiency for users.
Increase in Residential and Commercial Infrastructure Development Activities
The increase in investment in modern home improvement projects and commercial infrastructure development is significantly boosting market growth. The growing popularity of smart homes, especially in high-income regions such as the U.K. and the U.S., is leading to higher adoption rates of automated garage doors.
In commercial spaces, garage doors are becoming essential in various facilities, including hospitals, clinics, warehouses, and distribution centers. The rapid growth in population and industrial activities across several regions is further fueling this demand.
Surge in Demand for Eco-friendly Garage Doors
Environmental concerns are driving the market towards more sustainable and eco-friendly solutions. As awareness about reducing carbon footprints grows, manufacturers are increasingly adopting sustainable materials for garage door production. This shift is expected to create substantial growth opportunities within the market.
High Demand for Garage Doors from Residential Sector to Fuel Market Expansion
The residential sector is projected to dominate the market, driven by increasing construction activities in regions such as the U.S. The rise in residential projects is creating a substantial demand for garage doors, with automated solutions gaining significant traction. Similarly, the commercial sector is expected to see a rise in demand, further propelling market expansion.
Regional Outlook
North America is anticipated to lead the global market throughout the forecast period, with the U.S. and Canada emerging as key markets. The focus on product innovation and development by major players in this region is expected to drive growth.
Asia Pacific is also expected to witness substantial growth, spurred by the rapid development of commercial and residential infrastructure projects in the region.
Analysis of Key Players
The global garage door market is highly fragmented, with numerous local and international players. Companies are continuously innovating to maximize revenue, incorporating modern design features such as flexibility, ease of installation, and transportation options.
Prominent players in the market include Frontier Pacific, Integrity Overhead Doors, Wayne Dalton, Raynor, Safe-Way Door, Martin Door, Windsor Door, Alulux GmbH, First United Door Technologies, Novoferm GmbH, General Doors Corporation, and DoorHan Group of Companies.
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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