Machinery Equipment-Construction

Garage and Overhead Door Market is Expected to Reach USD 9.74 Billion by 2030

Mar 2024

Machinery Equipment-Construction

As per the report published by Kings Research, 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 garage and overhead door market growth is attributed to positive building construction trends and the extensive use of sectional garage doors. The emergence of advanced garage doors with smart features is further driving market growth. As homeowners and businesses become more aware of their energy use and environmental impact, the demand for garage doors that can help reduce heating and cooling costs is increasing. Energy efficient garage doors are designed with better insulation, seals, and materials to minimize heat loss and maximize energy savings. In recent years, the popularity of automatic garage doors has surged due to the added convenience and security they provide. Many companies now offer smart garage door openers that can be controlled through mobile apps or voice assistants, further enhancing their appeal. As more residential and commercial buildings are constructed, the demand for quality garage doors that offer security, weatherproofing, and customization options to meet the specific needs of each building is increasing.

Key Insights

  • Based on material type, the steel segment held the largest market value of 2.56 billion in 2022
  • Based on end-user, the residential segment generated the highest revenue of USD 4.21 in 2022
  • On the basis of region, North America dominates the market accounting for a share of 36.44% in 2022

Clopay Entered into a Collaborative Agreement to Develop a Door System

May 2022: Clopay collaborated with LiftMaster to launch the Extreme Series door system, powered by LiftMaster. The partnership aims to provide a longer-lasting door system with high speed, reliability, and energy efficiency.

Availability of Value-Added Features in Garage Door Openers to Foster Market Growth

Garage door openers have evolved significantly, transitioning from simple push button systems to being equipped with several value-added features that improve their functionality, ease of use, and energy efficiency. Security features include rolling codes that change each time the door is opened, lock-out features, and alarms that sound when the door is forced. These features help prevent unauthorized access to the garage, thereby protecting the contents stored inside, such as vehicles and tools. Many garage door openers can be controlled via a smartphone app or smart home system, allowing homeowners to open and close the garage door from anywhere. Battery backup systems are another value-added feature of garage door openers. These systems ensure that the garage door opener will work during a power outage, allowing homeowners access to their garages even when there is no electricity. This feature is especially important for homeowners who live in areas with frequent power outages or need access to their garage in an emergency. Moreover, garage door openers have evolved significantly over the years, with a wide range of value-added features available to improve functionality, convenience, and energy efficiency. Security features, home integration features, noise reduction, battery backup systems, built-in LED lighting, improved lifting power and wireless keypads or smart apps are some of the additional features available in modern garage door openers. These features provide homeowners with more convenience, security, and peace of mind, making garage door openers an essential part of any modern home.

Need for Regular Maintenance to Pose a Challenge for Market Growth

The need for regular maintenance and repairs is a major concern in the garage and overhead door industries. Many typical garage door problems, such as impaired springs or damaged openers, can result in large repair expenditures if not addressed immediately. Furthermore, frequent maintenance can prevent these issues from arising in the initial instance. As a result, it is critical for homes and businesses to schedule regular inspections and maintenance services with qualified technicians. This ensures that their garage and overhead doors are working precisely and helps to prevent major problems. This presents a challenge for the business in terms of educating clients on the need for preventative maintenance in order to convince them to invest in preventative services.

Europe to Emerge as the Second Dominating Region with a Market Value of USD 2.23 Billion by 2030

The regional growth of the market is supported by the growing demand for technologically advanced products such as smart garage doors. These doors can be remotely controlled and integrated into home automation systems, providing customers with convenience and security. The use of energy-efficient doors, which help in reducing energy costs, and carbon dioxide emissions while minimizing heat loss and maximizing insulation, ensures that homes and buildings remain warm in winter and cool in summer, thereby stimulating market growth. The presence of a large number of players with their increased focus on investing in research and development to develop more energy efficient, environmentally friendly, and cost-effective products is expected to propel market expansion in the forthcoming years as innovations and technological advancements lead to increasing demand for quality garage and overhead doors. These factors are expected to propel market expansion in the forthcoming years as innovations and technological advancements lead to increasing demand for quality garage and overhead doors.

Market Vendors to Focus on Launching New Products through Several Collaborative Efforts

The global garage and overhead door market study is highly fragmented with the presence of key players such as Sanwa Shutter Corporation, Clopay Corporation, Ridge Overhead Door, Inc., Masonite International Corporation, Nucor, DH Pace Company Inc., ASSA ABLOY, C.H.I. Overhead Doors, Delden Manufacturing Company, Rytec Corporation, and others. Companies are employing a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and strengthen their competitive position.

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