Garage Door Installation in the US - Industry Market Research Report

Garage Door Installation in the US - Industry Market Research Report

Garage Door Installation in the US

Through the end of 2023, garage door installation has grown due to increased investment in existing structures. At the beginning of the current period, rising consumer confidence contributed to consumers' increased willingness to take on home improvement projects. Also, rising corporate profit, low interest rates and recent federal tax cuts have encouraged capital expenditures among a variety of businesses, ranging from the street-corner bodega to large-scale manufacturing facilities. Still, the COVID-19 crisis has caused these trends to reverse as the unemployment rate has soared and consumer confidence has collapsed. The pandemic's negative effects primarily damaged demand from the industry's commercial and retail market, while the residential market soared amid the low interest rate environment. Garage door installation revenue has been inching upward at a CAGR of 0.1% over the past five years and is expected to total $318.1 million in 2023, when revenue will fall by an estimated 2.8%. Profit also increased, as revenue has consistently outpaced labor costs.

This industry installs garage doors and garage openers. Industry activity includes inspection prior to the installation or removal of any existing garage door and opener, installation, additions, alterations, maintenance and repairs.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.