What is Garage Doors Market?
As the name suggests, the garage door is the doors designed for the garage that can control by manually or by remotely. Increasing research and development activities by key players results in new innovation such as smart controllers for the door based on WiFi and Bluetooth. Thus, the doors can be controlled by mobile remotely. Additionally, Strict Regulation from European and North American Countries for automotive security is considered a the major driver for the market. However, continuously fluctuation in the prices of raw material for manufacturing garage doors and high installation cost further increases the overall cost of the garage door are the limiting factors for the market.
The market study is being classified by Type (Automatic Garage Doors and Manual Garage Doors), by Application (Residential and Commercial) and major geographies with country level break-up. According to AMA, the Global Garage Doors market is expected to see growth rate of 5.26% and may see market size of USD1612.24 Million by 2026.
Steel Craft Door Products Ltd. (Canada), Stramit Corporation Pty Limited (Australia), Somfy (France), CW Products (Australia), B&D Australia Pty Ltd. (Australia), Bolton Gate Company Ltd. (United Kingdom), Raynor Garage doors, Inc. (United States), Overhead Door Corporation (United States), SWS UK (United Kingdom) and Limavady Roller Doors (Ireland) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Garador Ltd (United Kingdom), Hormann (Germany) and Cooks Blinds & Shutters Ltd (United Kingdom).
The global garage door market was highly concentrated to very few players including Steel Craft Door Products Ltd., Stramit Corporation, Somfy, CW Products, B&D Pty Ltd., Bolton Gate, and few others. Thus the market was showing strategic monopoly in the moderately competitive environment. However, with respect to minimal initial investments in garage door manufacturing has favored the number of new entrants to gain market share from the local market. The global leaders business might be affected due to new entrants. Moreover, global leaders will continuously adopt strategic partnerships and technological developments to gain a competitive edge in a moderately competitive environmentThe Manufacturers having a strong hold in the market are Steel Craft Door Products Ltd., Stramit Corporation, Somfy, CW Products, B&D Pty Ltd., Bolton Gate. Research Analyst at AMA predicts that European Manufacturers will contribute to the maximum growth of Global Garage Doors market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Garage Doors market by Type, Application and Region.
On the basis of geography, the market of Garage Doors has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Growing Demand from an Increasing Construction of Garage for Residential Application
- Increasing Demand due to Strict Regulation from European and North American Countries
Market Trend
- An Emergence of Smart Garage Door Controller based on Wi-Fi and Bluetooth Technology
- Increasing Demand from Emerging Economies for Single panel garage doors
Restraints
- Continuously Fluctuation in the Prices of Raw Material for Manufacturing Garage Doors
- Intense Competition among Established Players
Opportunities
- Increasing Investment and Research & Development Activities by Established Key Players
- An Integration of Software Technology in Garage Door
Challenges
- High Installation Cost further Increases the Overall Cost of the Garage Door
- Lack of Awareness about Garage Door in the Middle East and Some Asian Countries
Key Target Audience
Garage Door Manufacturers, Raw Material Suppliers, Suppliers and Distributors, Private Research Organizations, Government Associations and Agencies, Potential Investors and Others