Global Garage And Overhead Door Market Overview
The Garage And Overhead Door Market Size was estimated at 21.32 (USD Billion) in 2022. The Garage And Overhead Door Industry is expected to grow from 22.44(USD Billion) in 2023 to 35.5 (USD Billion) by 2032. The Garage And Overhead Door Market CAGR (growth rate) is expected to be around 5.23% during the forecast period (2024 - 2032).
Key Garage And Overhead Door Market Trends Highlighted
The Garage and Overhead Door market stands poised for significant growth, driven by increasing urbanization, rising disposable income, and heightened emphasis on home security and convenience. The growing demand for smart and automated homes has fueled the adoption of technologically advanced garage doors, incorporating features such as remote access, voice control, and smartphone compatibility.Opportunities lie in the expansion of the construction industry, particularly in emerging markets where urbanization is driving the development of new residential and commercial buildings. Additionally, the increasing adoption of smart home solutions, e-commerce, and home delivery services is generating demand for efficient and secure overhead doors for convenience and ease of access.Recent trends in the market include the rise of custom-designed garage doors that cater to aesthetic and architectural preferences. The focus on energy efficiency has led to the development of insulated and weather-resistant doors, reducing energy consumption and enhancing interior comfort. Furthermore, the integration of sensors, cameras, and other smart features has augmented the security capabilities of garage doors, providing peace of mind for homeowners.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Garage And Overhead Door Market Drivers
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Rising Demand for Residential and Commercial Construction
Driving factors of the increased demand in the construction market The construction industry is experiencing an increased demand as it grows and expands. The heightened appetite for construction may seem to be a temporary trend for some, but it is a fundamental shift that has been long coming. Currently, the demand for construction products and services is greater as the world becomes increasingly urbanized. The growth of the construction industry will persist and continue into the years ahead, as it makes way for a higher demand for garage and overhead doors.Home construction drives the Garage And Overhead Door Market Industry to a considerable extent. The number of homes that are presently being constructed is only at an all-time high, and the numbers have been continually on an uptrend. In addition to the number of new homes constructed, modernization and the desire for better and modern homes also modernize homes already under construction. Therefore, the demand for garage and overhead doors is because people want to modernize their existing homes, and building new homes is just one means of modernization.Smart homes are also trendy as more people look for the latest technology to modernize their homes, attract them, and make it easier to install garage and overhead doors in these new constructions. Also, the increased constructing of new commercial buildings and business renovations of the same contributes to driving the Garage And Overhead Door Market Industry. Buildings such as storage warehouses, retail stores, and office buildings are being constructed, increasing the demand for garage and overhead doors.
Technological Advancements and Innovations
The Garage And Overhead Door Market Industry is witnessing significant technological advancements and innovations. Manufacturers are continuously investing in research and development to improve the functionality, durability, and aesthetics of their products. Some of the key technological advancements include the development of insulated garage doors, which provide better energy efficiency, and the integration of smart technology, which allows users to control their garage doors remotely using their smartphones or other devices.Additionally, manufacturers are also focusing on developing more sustainable and environmentally friendly garage and overhead doors, such as those made from recycled materials.
Government Regulations and Standards
Regulations and standards by the government are among the driving factors in the Garage And Overhead Door Market Industry. The government and the relevant bodies have developed regulations to be followed to ensure the doors are safe and up to standard. Garage and overhead doors have to comply with building code requirements and be fitted properly to mitigate any damages. For example, the International Residential Code in the US stipulates minimum requirement for the doors.Some of the requirements include that the doors should have an automatic mechanism for reversing and be resistant to pinch injuring features. Following the regulations ensures that the doors are safe and reliable, thus contributing to the growth of the market.
Garage And Overhead Door Market Segment Insights
Garage And Overhead Door Market Product Type Insights
The Garage And Overhead Door Market is segmented on the basis of product type, namely, garage doors, overhead doors, and security doors. Of them, garage doors accounted for the largest market share in 2023, and the segment is also likely to continue dominating the market over the forecast period. The growth of the garage doors segment can be attributed to the increased demand in residential construction, primarily in emerging countries. Overhead doors are also likely to grow quickly, with rapid expansion of industrial and commercial applications.Security doors, too are likely to show some growth, with increasing concerns for security and safety. Thus, in terms of revenue, the Garage And Overhead Door Market is likely to generate about USD 15.2 billion by 2024, with the overhead doors segment also likely to contribute a significant share totaling USD 10.3 billion to the Garage And Overhead Door Market. The security doors segment is likely to become worth about USD 4.5 billion in revenue by 2024. As can be seen from the revenue projections, the Garage And Overhead Door Market is still a very big market, with sizeable growth prospects, especially for the garage doors’ segment, and for the overhead doors’ segment.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Garage And Overhead Door Market Material Insights
The Garage And Overhead Door Market is divided based on Material type such as Steel, Aluminum, Vinyl, and Fiberglass. Steel segment is expected to be the largest material segment in the garage and overhead door system owing to the durability, strength, and cost-effectiveness of the steel door. Based on the 2023 data, the steel segment was valued at USD 10.5 billion and is projected to reach USD 16.5 billion by 2032, expanding at a compound annual growth rate of 5.6% in the forecasted period. The key factors responsible for the growth of the steel segment will be a rapid rise in the infrastructure sector, increase in the gross domestic product, and growth in the building construction industry.The second leading material in the garage and overhead door market is known to be aluminum, which is lighter in weight, durable, and resistant to corrosion. The Aluminum segment is projected to reach USD 7.3 billion by 2032, expanding at a CAGR of 5.2% in the forecasted period. Moreover, vinyl is a low-cost and easy-to-mold material used for residential purposes and is therefore expected to be the highly attractive segment for the material of the garage and overhead door, which is projected to account for the market share of USD 6.7 billion by 2032, expanding at a compound annual growth rate of 4.8%.On the other hand, a star performer is known to be fiberglass material, which is highly durable and an impact-resistant material that is used in commercial and industrial sectors. The Fiberglass segment is projected to reach USD 5.0 billion by 2032, expanding at a CAGR of 4.5% in the forecasted period.
Garage And Overhead Door Market Size Insights
The Garage And Overhead Door Market is segmented by size into single-car, double-car, and custom sizes. The single-car segment is expected to account for the largest market share in 2023, due to the increasing popularity of single-family homes. The double-car segment is expected to grow at a faster CAGR during the forecast period, due to the growing demand for larger homes. The custom sizes segment is expected to account for a small market share, but is expected to grow at a steady CAGR during the forecast period, due to the increasing demand for customized garage and overhead doors.
Garage And Overhead Door Market Operation Type Insights
The Garage And Overhead Door Market is segmented based on operation type into manual, automatic, and remote controlled. Among these, the automatic segment is expected to hold the largest market share in 2023 and is projected to continue its dominance throughout the forecast period. The increasing adoption of smart home technologies and the growing demand for convenience and security are driving the growth of the automatic segment. The remote controlled segment is also expected to witness significant growth owing to the rising popularity of wireless connectivity and the increasing availability of affordable remote control systems.
Garage And Overhead Door Market Installation Type Insights
The Garage And Overhead Door Market is segmented based on Installation Type into New Installation and Replacement/Renovation. The New Installation segment is expected to account for a larger revenue share in the Garage And Overhead Door Market in 2024. The growth of this segment can be attributed to the increasing demand for new residential and commercial constructions. The Replacement/Renovation segment is also expected to witness significant growth due to the rising trend of home renovations and the need for the replacement of old and damaged garage doors.
Garage And Overhead Door Market Regional Insights
The Garage And Overhead Door Market is segmented into North America, Europe, APAC, South America, and MEA. Among these regions, North America is expected to hold the largest market share in 2023 and is projected to continue its dominance throughout the forecast period. This is attributed to the increasing demand for garage and overhead doors in residential and commercial buildings, as well as the presence of major players in the region. Europe is expected to be the second-largest market, followed by APAC. The APAC region is expected to witness significant growth due to the rising urbanization and industrialization in countries such as China, India, and Southeast Asian countries.South America and MEA are expected to have a smaller market share but are projected to grow at a steady pace due to the increasing demand for affordable housing and infrastructure development.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Garage And Overhead Door Market Key Players And Competitive Insights
In the Garage And Overhead Door Market, some of the notable players in the industry are focusing on expanded geographical operation and extensive product offerings. The leading players in the Garage And Overhead Door Market are continuously looking to undertake R operation through the launch of innovative products and in offering high-quality products. In the coming years, the Garage And Overhead Door Market Competitive Landscape is expected to get more intense as new players are entering the industry. Here, ASSA ABLOY, leader in door opening solutions, can continue to be the leader in the Garage And Overhead Door Market.Clopay Corporation is another notable player in the Garage And Overhead Door Market. The company operates as a leading manufacturer of garage and overhead doors for both residential and industrial applications. In the Garage And Overhead Door Market, the company also offers innovative garage door design and garage door installation solutions. Here, the company has been involved in investing highly in R operation, where it has been responsible for developing technology for its products. Due to its focus on producing high-quality products, the firm is likely to have long-term growth in the Garage And Overhead Door Market.
Key Companies in the Garage And Overhead Door Market Include
- LiftMaster
- Wayne Dalton
- Clopay Corporation
- Chamberlain Group, Inc.
- Trac Rite Doors
- Haas Door
- Ryterna Holding S.A.
- Raynor Garage Doors
- Crawford Door Sales
- ASSA ABLOY AB
- Marantec America LLC
- Overhead Door Corporation
- Gliderol Australia Pty Ltd
- Stanley Black Decker, Inc.
Garage And Overhead Door Market Industry Developments
The Garage And Overhead Door Market size was valued at USD 22.44 billion in 2023 and is projected to reach USD 35.5 billion by 2032, exhibiting a CAGR of 5.23% during the forecast period. The rising demand for residential and commercial construction activities, coupled with increasing disposable income and urbanization, is expected to drive market growth. Technological advancements, such as smart garage door openers and automated overhead doors, are further contributing to the market expansion. Key industry participants are focusing on product innovation and strategic collaborations to enhance their market position.
Garage And Overhead Door Market Segmentation Insights
Garage And Overhead Door Market Product Type Outlook
- Garage Doors
- Overhead Doors
- Security Doors
Garage And Overhead Door Market Material Outlook
- Steel
- Aluminum
- Vinyl
- Fiberglass
Garage And Overhead Door Market Size Outlook
- Single-Car
- Double-Car
- Custom Sizes
Garage And Overhead Door Market Operation Type Outlook
- Manual
- Automatic
- Remote Controlled
Garage And Overhead Door Market Installation Type Outlook
- New Installation
- Replacement/Renovation
Garage And Overhead Door Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
21.32(USD Billion) |
| Market Size 2023 |
22.44(USD Billion) |
| Market Size 2032 |
35.5(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
5.23% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
LiftMaster ,Wayne Dalton ,Clopay Corporation ,Chamberlain Group, Inc. ,Trac Rite Doors ,Haas Door ,Ryterna Holding S.A. ,Raynor Garage Doors ,Crawford Door Sales ,ASSA ABLOY AB ,Marantec America LLC ,Overhead Door Corporation ,Gliderol Australia Pty Ltd ,Stanley Black Decker, Inc. |
| Segments Covered |
Product Type ,Material ,Size ,Operation Type ,Installation Type ,Regional |
| Key Market Opportunities |
Smart home integration Energy efficiency Customisation Ecommerce expansion Emerging markets |
| Key Market Dynamics |
Increased adoption of smart home technologies Growing construction industry Rising demand for energyefficient solutions Advancements in materials and technology Increasing popularity of customized garage doors |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Garage And Overhead Door Market is expected to reach a valuation of 44 USD Billion in 2023.
The Garage And Overhead Door Market is expected to grow at a CAGR of 5.23% from 2023 to 2032.
The key regions contributing to the growth of the Garage And Overhead Door Market are North America, Europe, Asia-Pacific, and Rest of the World.
The major applications of Garage And Overhead Doors include residential, commercial, and industrial.
The key competitors in the Garage And Overhead Door Market include The Chamberlain Group, Inc., Overhead Door Corporation, and Wayne-Dalton Corporation.
The key factors driving the growth of the Garage And Overhead Door Market include increasing demand for residential and commercial construction, rising disposable income, and growing awareness of home security.
The challenges faced by the Garage And Overhead Door Market include intense competition, fluctuating raw material prices, and economic downturns.
The key trends in the Garage And Overhead Door Market include the adoption of smart technology, increasing demand for energy-efficient products, and growing popularity of customized designs.
The Garage And Overhead Door Market is expected to reach a valuation of 5 USD Billion in 2032.
The potential growth opportunities for the Garage And Overhead Door Market include expanding into emerging markets, developing innovative products, and increasing investment in research and development.
