Pune, India, Aug. 09, 2022 (GLOBE NEWSWIRE) — The world garage and up-and-over door market The size is expected to grow with substantial momentum in the coming years, owing to the rapid escalation of modular construction with lavish designs, safety features, and innovative designs. Fortune Business Insights™ mentions this information in its report, entitled “Garage and up-and-over door market, 2022-2029.”
Garage door and overhead door manufacturers aim to provide their consumers with sturdy and affordable products while simultaneously implementing designs that include innovative features. For example, Chamberlain offers a garage door integrated with “myQ” technology that allows the garage door to be operated with an app on a smartphone. Another example is CONCORD’s fully automated Duo Rapido+ garage doors which are integrated into the company’s exclusive mobile operator system. Due to the increasing integration of smart features, consumers are easily adopting next-generation garage doors, enabling the growth of this market.
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Players Covered in the Garage and Up-and-Down Doors Market Report:
- Delden Garage Doors
- Wayne Dalton
- CHI up-and-over doors
- overhead door company
- ASSA ABLOY
- Door Martin
- Midland garage door
- Clopay Building Products
- Raynor Garage Doors
Impact of COVID-19
Numerous limitations have been imposed on the production activities and manufacturing sector in several countries owing to the lockdown regulations imposed by the COVID-19 pandemic, negatively affecting the growth of the garage and up-and-over door market. Attributable to the growing global demand for innovative up-and-over garage doors, the market is expected to grow significantly as consumers refocus their attention on home security in the post-pandemic era. However, the market is expected to go through a slow and painful period of recovery as consumers redefine their spending on essential goods and services.
Browse the abstract of this research report:
Report Scope and Segmentation:
|Historical year||2018 – 2020|
|forecast year||2022 – 2029|
|Segments Covered||By hardware type, by end user, by region|
|Forecast units||Value (USD billion) and volume (units)|
|Quantitative units||Revenue in USD Million/Billion and CAGR from 2020 to 2029|
|Regions covered||North America, Europe, Asia-Pacific, Middle East and Africa, Latin America and Rest of the World|
|Countries covered||United States, Canada, Mexico, United Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC countries and South Africa, among others|
|Number of companies covered||Delden Garage Doors, Wayne Dalton, Hormann, CHI Overhead Doors, Overhead Door Corporation, ASSA ABLOY, Martin Door, Midland Garage Door, Clopay Building Products, Raynor Garage Doors, and others.|
|Market coverage of garages and up-and-over doors||Market Growth Drivers, Restraints, Opportunities, Porter’s Five Forces Analysis, PEST Analysis, Value Chain Analysis, Regulatory Landscape, Market Attractiveness Analysis by Segments & Region, Market Share Analysis business and analysis of the impact of COVID-19.|
Based on material type, the market is segmented into aluminum, steel, wood, fiberglass, and others. Based on end users, it is divided into residential and commercial. Geographically, this market is segregated into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa.
This report carries out an exhaustive analysis of the main segments and the various trends of the market. It discusses in detail the driving and restraining factors and the impact of COVID-19 on the market. Moreover, it thoroughly examines the regional developments and the strategies implemented by the major market players.
Drivers and Constraints
Growing demand for fast-operating garage doors to drive market growth
The fast operability of garage and up-and-over doors is a crucial factor responsible for the growth of the market. Fast, reliable and durable technologies are driving a large number of customers to adopt advanced garage doors. Furthermore, growing awareness of green energy solutions in the residential and commercial sectors also acts as a fundamental factor driving the market. For example, the American company Clopay Corporation develops wooden garage doors, the wood being sustainably harvested from naturally fallen trees in forests.
However, factors such as high investment, employment and maintenance in developing countries are major restraints for this market. Additionally, the lack of focus on producing durable and reliable up-and-over garage doors for middle and lower class consumers globally is also hampering the market.
Technological Advancements in Home Security to Drive the North American Market
Due to technological advancements in home security solutions, North America is expected to lead the garage and overhead door market share. On the other side of the Atlantic, European garage door manufacturers are inclined to produce technology-driven products for commercial and residential installations. Additionally, European energy service providers aim to deploy environmentally friendly green technologies in residences across the continent.
The Asia-Pacific region market is expected to exhibit a moderate growth rate in the coming years owing to the unsteady expansion of investments in the development of eco-friendly household items such as garage and bathroom solutions. overhead doors. Falling consumer purchasing power in developing economies in this region will also slow down the growth of the market. However, increasing urbanization will create lucrative opportunities over the next decade.
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Implementation of position building strategies by key players to intensify competition in the market
The search for new growth opportunities is motivating key players to adopt different strategies to secure their position in the garage door and up-and-over door market. Companies plan strategically to drive consumer demand to ensure optimal market growth. Companies are also focusing on adopting advanced technologies to improve the security quotient of their offerings, thereby boosting their presence in the market.
February 2020: Overhead Door Corporation has announced overhead garage doors with innovative panel designs and a wide range of color choices. The company unveiled the “Model 5800”, designed to be used for durable construction, high section heights and large windows.
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