Global Automatic Garage Door Operator Market Outlook Report 2023: A $3.49 Billion Market by 2028 Featuring Key Vendors

Automatic Garage Door Operator Market

Dublin, June 06, 2023 (GLOBE NEWSWIRE) -- The "Automatic Garage Door Operator Market - Global Outlook & Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.The global automatic garage door operator market is expected to reach a value of $3.49 billion by 2028 from $2.55 billion in 2022, growing at a CAGR of 5.42%People in 2023 were more curious about technology-orientated home appliances and smart gadgets. The smart home is a revolutionary concept in residential spaces that enhances comfort, convenience, security, entertainment, and sustainability. Therefore, the demand for smart technologies like smart lights, smart thermostats, smart locks, in the line smart garage door opener will also play a vital role in residential and commercial spaces in the upcoming years.Mounting Number of Automobile Globally Increases the Garage Space DemandBooming industrialization throughout the world led to higher growth rates of urban economy, increasing income for households, the high living standard of modern generations, and the rising population anticipated to increase the number of smart city cars and passenger vehicle ownership to the citizens. These factors propelled the growth rate of garage door installation the developing and developed countries in the forecast period.SEGMENTATION INSIGHTS

INSIGHTS BY PRODUCT TYPEIn 2022, the screw drive segment dominated the market and was valued at approximately USD 923 million. The screw drive-type garage door opener has a threaded steel rod to lift the door.

Even though the screw drive garage door opener makes noise during its drive, it is still less than what the chain drive system makes. Screw-drive garage door openers provide a lot of power in a compact device. For homeowners with large, heavy, or oversized garage doors, screw-drive garage door openers can handle the door's weight without burning out early.INSIGHTS BY SENSOR TYPEAutomatic units have applications in various places, such as luxury residential housing, commercial spaces, etc. Factors such as energy-saving, ease of operation, maintaining security, fast and accurate, cable-free, and others fuel the demand for these doors. The key sensor types in the automatic garage door operator market include infrared and photoelectric sensors.

The advantages of infrared sensor are their low power consumption, simple design, and useful features, which has reduced the risk of injury and other benefits which have pushed the market to the next level. Such factors have contributed to the infrared sensor automatic garage door operator market and helped to gain a dominant share among the sensor type segment.

INSIGHTS BY CONTROLLER TYPE

Home automation has become popular in recent decades, as day-to-day life is getting simpler due to the rapid development of technology. Almost everything has become automatic and digitalized. The Internet of Things (IoT) system accepts devices to be connected online and remotely monitored across the Internet.

With the help of technology development, automatic garage door operator systems were booming. The global automatic garage door operator market by controller type segments as Wi-Fi and Bluetooth, under which the Wi-Fi segment holds the dominant share. Wi-fi-based controllers have huge advantages in terms of control door systems and accessibility.

INSIGHTS BY INSTALLATION TYPEThe new construction automatic garage door operator market was valued at over USD 1.5 billion in 2022 and holds the largest share by installation type.

Many new construction projects in the global pipeline are enabling a steady demand for new garage doors in new building projects. Innovations in garage door manufacturing and integrated locking systems may lead to a longer replacement cycle as the doors become light yet strong.

Emerging economies such as China, India, Brazil & others are expected to significantly grow in constructing new buildings. Numerous construction projects related to hospitality, healthcare, real estate, and others are lined up, which is expected to favor market growth.

INSIGHTS BY END USERThe global residential segment holds the larger share of the industry. The rising global population and the number of households drive the demand for housing facilities. To meet the rising demand, governments worldwide have implemented policies to support the construction of residential units.

Furthermore, in 2022, the U.S. apartment market has planned for the largest conventional apartment projects, where the project number of units is nearly 411,000. These apartment projects are projected to boost the demand for automatic garage door operators.

INSIGHTS BY DISTRIBUTION CHANNELThe offline distribution channel dominated the global automatic garage door operator market in 2022 and is expected to witness an incremental growth of over USD 669 million during the forecast period. Factors such as the broad reach in areas that lack better connectivity and brand loyalty, along with the quality of products, are driving the growth of this segment.

GEOGRAPHICAL ANALYSISNorth America accounted for the largest global automatic garage door operator market share, accounting for approximately 41% in 2022. Strong economic growth, the establishment of new businesses, company expansions, and increased construction activities are mainly driving the demand for automatic garage door operators in the region. Implementing smart automatic garage door operators in residential and commercial buildings can largely facilitate controlling energy consumption and help in achieving the energy efficiency goals in the country.

COMPETITIVE LANDSCAPEThe global automatic garage door operator market is highly competitive, with the presence of a large number of private and public companies. These vendors typically compete on a key range of product design, reliability, quality, support services, and price.

The instant technological advancements adversely impact the industry vendors as consumers anticipate the continuous innovations and upgrades of products. The present scenario drives vendors to alter and enhance their unique value proposition to achieve a strong market presence.

Key Attributes:

Report Attribute

Details

No. of Pages

290

Forecast Period

2022 - 2028

Estimated Market Value (USD) in 2022

$2550 Million

Forecasted Market Value (USD) by 2028

$3499.87 Million

Compound Annual Growth Rate

5.4%

Regions Covered

Global

Key Vendors

Chamberlain Group

Overhead Door Corporation

GARADOR

HORMANN

NOVOFERM

TECKENTRUP

Other Prominent Vendors

The Genie Company

SkylineNet Inc

CAME SPA

ERREKA

Gliderol

Marantec

Somfy

King Gate

Kruzik

Nice

Ryterna

ALUTECH

Raynor

Doorhan

Boss

CRAFTSMAN

Introduction

Booming Zero-Energy Building Projects Drive the Demand for Energy-Efficient Automation Operators.

Innovation in Automatic Garage Doors Operator

Key Highlights for Global Residential Construction Sector

Factors Driving the Garage Door Operator Market

Residential Households

Multi-Family Buildings: Residential Constructions

Value Chain

Raw Material Suppliers & Components

Manufacturers

Dealers/Distributors

Retailers

End-Users

Market Opportunity & Trends

Emergence of Smart Homes Driving the Adoption of Automatic Garage Door Operator

Advances in Operation & Functionalities of Garage Doors

Demand for Garage Door Operators from Hospitality Sector

Commercial Construction

Market Growth Enablers

Mounting Number of Automobiles Globally Increases the Garage Space Demand.

Sustainability Reshaping Global Construction Market

Infrastructural Constructions

Rising Housing Investments

Market Restraints

Variations in Construction Industry

Fluctuating Raw Material Prices

Turbulent Global Political and Trade Relations

For more information about this report visit https://www.researchandmarkets.com/r/nrpt3c

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Automatic Garage Door Operator Market