Machinery Equipment-Construction

Garage and Overhead Door Market

Global Industry Analysis and Forecast 2023-2030

Pages : 120

Base Year : 2022

Released Year : December 2023

Format :Pdf Ppt Xls

Report ID:KR281

Author : Shreya S.

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Base Year

2022

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Forecast Year

2023-2030

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Historical Years

2018-2021

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Market Value (2022)

USD 6.24 Billion

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Forecasted Value (2030)

USD 9.74 Billion

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CAGR (2023 – 2030)

5.84%

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Fastest Growing Region (2023 - 2030)

Europe

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Largest Region

North America

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By Material Type

Aluminium, Steel, Wood, Others

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By End-User

Residential, Commercial


Market Perspective

The global Garage and Overhead Door Market was valued at USD 6.24 billion in 2022 and is projected to reach USD 9.74 billion by 2030, growing at a CAGR of 5.84% from 2023 to 2030.

The market for garage and overhead doors is growing continually due to the proliferating demand for safe, convenient, and aesthetically pleasing door solutions. Increasing information security, an upsurge in building activities, and the use of smart technologies are some of the factors that are propelling the market's expansion. Manufacturers are focusing on product innovation, energy efficiency, and customization to meet changing customer needs. The increasing demand for residential and commercial space as well as the need to secure door systems further propel market growth.

The high initial costs associated with high-quality garage and overhead doors can deter price-sensitive consumers. The fluctuating prices of raw materials, especially steel and aluminum, can affect the profitability of manufacturers. In addition, the complicated installation processes and the need for professional help can add to the total cost of owning these doors, which is restraining market growth.

Analyst’s Review on Garage and Overhead Door Market

The growing emphasis on security, energy efficiency, and personalization is driving the market's growth and boosting the demand for innovative door solutions. Technological advancements such as smart features are expected to further enhance the growth potential of the garage and overhead door market. Garage and overhead door manufacturers are looking to incorporate IoT technology into their products, allowing users to connect their doors to smartphones. This integration will enable the doors to send notifications to users when there are any abnormalities in the locking system. In addition, the technology could make it easier for consumers to automatically unlock their doors after detecting an approaching vehicle.

Market Definition

Overhead doors can be operated manually or automatically with the help of an electric motor and a garage door opener. These doors can swing open or be made up of several segmented panels that move up and overhead. Overhead doors are commonly made of steel, aluminum, wood, or fiberglass and may include insulation, security features, automation systems, and a variety of design possibilities. They can be found in a variety of situations, including residential, commercial, and industrial.

Garage and overhead doors are large doors that are usually used to access a garage, warehouse, or other enclosed space. They are designed to be durable, safe, and easy to use, and help regulate temperature and improve energy efficiency. Several advanced garage and overhead doors are equipped with automation systems that allow for convenient remote control via a keyboard or smartphone. These doors are available in a wide range of designs, styles, and colors to complement the aesthetics of the building or enhance the exterior doors.

Market Dynamics

The garage and overhead door market is witnessing a shift towards environmentally friendly alternatives as sustainable development and green building practices are increasingly emphasized. Manufacturers offer a variety of eco-friendly garage doors made from recycled materials that have better insulation properties and energy-saving properties. These doors are designed to be energy efficient and use materials and techniques that minimize energy consumption and increase insulation. In addition, government initiatives and regulations promoting energy conservation and environmental protection further encourage the adoption of eco-friendly garage doors. These initiatives often offer incentives or discounts for the installation of environmentally friendly products, creating a favorable market environment for such solutions. As consumers become more environmentally conscious, the demand for eco-friendly garage doors is likely to continue to grow.

Garage and overhead doors in user spaces are often susceptible to break-ins, which can result in significant expenses for maintenance and repairs, thus impeding market growth. Both commercial and residential users may incur high costs for maintenance and replacement. To address this issue, users can conduct basic maintenance and inspections to identify problems, while manufacturers can provide appropriate support and maintenance for critical doors. Moreover, rapid shutter movement can produce loud noises when opening or closing, further contributing to increased costs. However, the concerns pertaining to high costs associated for maintenance and replacement poses a challenge to the garage and overhead door market.

Segmentation Analysis

The global garage and overhead door market is segmented based on material type, end-user, and geography.

Based on material type, the market is segmented into aluminum, steel, wood, and others. The steel segment is dominating the garage and overhead door market with a share of 41.10% in 2022 owing to its growing use for exterior doors, which helps to roll straight into the roof space, is easy to roll out again, and offers excellent beneficial services. It makes less noise, has thermal insulation to guard against severe temperature damage, and assists in making consumer residences more environmentally friendly.

Based on end-user, the market is bifurcated into residential and commercial. The residential segment dominated the garage and overhead door market with a value of USD 4.21 billion in 2022 owing to the high-quality robust, and dependable garage doors that are capable of withstanding the regular wear and tear of industrial use. This is necessary due to the lower power consumption of different businesses. There is a rise in demand for residential overhead doors that are durable and require minimal maintenance. In the residential segment, these doors observe high uptake as they are energy-efficient, durable, and customizable.

Geographical Analysis

Based on region, the global garage and overhead door market is classified into North America, Europe, Asia Pacific, MEA, and Latin America.

North America accounts for the largest share of the market revenue, valued at USD 2.27 billion in 2022. This is primarily due to the presence of a robust and well-connected network of distributors and retailers, which greatly contributes to the market's substantial growth. Manufacturers across the region are focusing on cutting-edge manufacturing and developing innovative products to transform the market. The regional industry growth is propelled by the accelerating demand for smart connected devices and rising power transmission operations. Home renovation projects, the proliferation of online shopping platforms, and increasing awareness of the benefits of using garage doors will create lucrative opportunities for market growth in the region through the forecast period.

The market for garage and overhead doors is experiencing substantial growth in Europe, valued at USD 1.43 billion in 2022. This growth is attributed to several factors, including the increasing focus on energy conservation, stringent government regulations, and efforts to promote advanced technologically based garage doors with enhanced performance. Increased investment in innovative research and development creates a global opportunity for the industry and is expected to boost regional market growth.

Competitive Landscape

The global garage and overhead door market study report will provide valuable insight, with an emphasis on the fragmented nature of the industry. Prominent players are focusing on several key business strategies, such as partnerships, mergers & acquisitions, product innovations, and joint ventures, to expand their product portfolio and increase their respective market shares across different regions. The major players in the garage and overhead door market are

  • Sanwa Shutter Corporation
  • Clopay Corporation
  • Ridge Overhead Door, Inc.
  • Masonite International Corporation
  • Nucor
  • H.I. Overhead Doors
  • Delden Manufacturing Company
  • Rytec Corporation
  • DH Pace Company Inc.
  • ASSA ABLOY

Key Developments

  • June 2022 (Acquisition): Nucor Corporation acquired H.I. Overhead Doors (C.H.I.) from KKR & Co. Inc. for USD 3 billion to establish an outstanding business with great potential for development that fits perfectly into the areas of strength.
  • June 2021 (Launch): Alpine Overhead Doors, Inc. announced the release of two high-speed roller door models. These products have a variable-frequency operator that is suitable for loading docks, warehouses, transport and reception platforms, car dealerships, parking lots, fire-in-houses, and buildings where fast-acting doors are needed.

The global Garage and Overhead Door Market is segmented as:

By Material Type

  • Aluminium
  • Steel
  • Wood
  • Others

By End-User

  • Residential
  • Commercial

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • UK
    • Spain
    • Germany
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • North Africa
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
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Frequently Asked Questions (FAQ's)
The global garage and overhead door market is projected to reach USD 9.74 billion by 2030, growing at a CAGR of 5.84% from 2023 to 2030.
The global garage and overhead door market was valued at USD 6.24 billion in 2022.
The major driving factor is the increasing demand for residential and commercial space as well as the need to secure door systems.
Top manufacturers of garage and overhead door market are Sanwa Shutter Corporation, Clopay Corporation, Ridge Overhead Door, Inc., Masonite International Corporation, Nucor, H.I. Overhead Doors, Delden Manufacturing Company, Rytec Corporation, DH Pace Company Inc., ASSA ABLOY, and others.
Europe is expected to be the fastest growing region with a market value of USD 2.23 billion in the garage and overhead door market over the forecast period.
By material type, steel will hold the maximum share in the garage and overhead door market with the revenue value of USD 3.96 billion by 2030.
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