Garage and Overhead Door Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Garage and Overhead Door Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Garage and Overhead Door Market

The garage and overhead door market size was valued at USD 6.79 billion in 2021, and the market is now projected to grow from USD 6.99 billion in 2022 to USD 9.94 billion by 2029, exhibiting a CAGR of 5.2% during the forecast period of 2022-2029.

During the COVID-19 pandemic, most of the prominent producers observed a minimal drop in their annual income generation and have consequently seen a lessening in their profit margins. The drops are mostly due to the incompetence to endure the streamlined supply of their products across their operative zones ensuing the whole breakdown of the supply chains. The pandemic brought manufacturing services of key market performers to a sudden stop for a short-term period of time, which formed a significant supply-demand gap curtailing the possible market progression.

Significant efforts and significant expenditure in the growth of residential infrastructure are anticipated to enhance the garage and overhead door market growth. Furthermore, clients are also sturdy on the replacement of their existing door systems with more strong and operative solutions, growing the market prospects for the producers in the worldwide market.

To open and shut the door using all of these technologies, a remote starter for a garage door is the supreme sought after technology in the market. The producers of garage and upstairs doors are functioning severely to incorporate operations of these door with IoT technology and join the door with a smartphone application, and it will inform the operators if there is certain difference in the locking system. The door could also be locked or open distantly. Additionally, the technology might enable the customers to have an programmed door opening after identifying an impending automobile.

Comprehensive Analysis of Garage and Overhead Door Market

The market can be segmented in various ways, depending on the focus of analysis such as by material type, by end- user. Based on material type, the market is classified as aluminum, steel, wood, fiberglass, vinyl, and others (wood composite). Based on end- user, the market is classified into residential and commercial

North America region is dominating the garage and overhead door market share due to strong and interconnected network of distributors and retail vendors for numerous manufacturers.

The key players are enthusiastically contributing in planned events that are targeted at maintaining durable market position and growing market share by merger, partnerships and others. These players include Clopay Corporation (US), Sanwa Holdings Corporation (Japan), Wayne Dalton (U.S.), C.H.I. Overhead Doors (U.S.), Raynor Garage Doors (U.S.), PerforMax Global (U.S.), Dynaco (Belgium), Rite Hite (U.S.), Rytec Corporation (U.S.), Chase Doors (U.S.), Goff's Enterprises (U.S.) these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.

In May 2022, Nucor Corporation confirmed the achievement of C.H.I. Overhead Doors, which functions as a prominent producer of overhead doors in the market of North America for use in residential and commercial segments. The strategic achievement will benefit Nucor Corporation to inaugurate itself as one of the vital players in the North American market.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2018-2029

Base Year 2021

Estimated Year 2022

Forecast Period 2022-2029

Historical Period 2018-2020

Unit Value (USD billion)

Segmentation By Material Type, End-user, and Region

By Material Type Aluminum

Steel

Wood

Fiberglass

Vinyl

Others

By End-user Residential

Commercial

By Region North America (By Material Type, End-user, and Country)

U.S. (By End-user)

Canada (By End-user)

Europe (By Material Type, End-user, and Country)

U.K. (By End-user)

Germany (By End-user)

France (By End-user)

Italy (By End-user)

Rest of Europe

Asia Pacific (By Material Type, End-user, and Country)

China (By End-user)

Japan (By End-user)

India (By End-user)

South Korea (By End-user)

Rest of Asia Pacific

Middle East & Africa (By Material Type, End-user, and Country)

GCC (By End-user)

South Africa (By End-user)

Rest of the Middle East & Africa

South America (By Material Type, End-user, and Country)

Brazil (By End-user)

Mexico (By End-user)

Rest of South America

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