Global Automatic Garage Door Operator Market Report 2023: Sector is Expected to Reach $3.4 Billion by 2028 at a CAGR of 5.42% - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--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 grow at a CAGR of 5.42% to reach $3499.87 million by 2028 from $2550 million in 2022.

Market Trends and Drivers

The Emergence of Smart Homes Driving the Adoption of Automatic Garage Door Operators

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 Demand

Booming 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.

Market Segmentation

by Opener Type

• Screw Drive
• Chain Drive
• Belt Drive
• Others

by Sensor Type

• Infrared Sensor
• Photoelectric Sensor

by Controller Type

• Wi-Fi
• Bluetooth

by Installation Type

• New Construction
• Replacement

by End User

• Residential
• Commercial

by Distribution Channel

• Offline
• Online

by Geography

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• UK
• Italy
• Russia
• APAC
• China
• India
• Japan
• Australia
• Middle East & Africa
• Saudi Arabia
• UAE
• South Africa
• Latin America
• Brazil
• Mexico
• Argentina

Competitive Landscape

The 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 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

Market Dynamics

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

Growth Enablers

• Mounting Number of Automobiles Globally Increases the Garage Space Demand.
• Sustainability Reshaping Global Construction Market
• Infrastructural Constructions
• Rising Housing Investments

Restraints

• Variations in Construction Industry
• Fluctuating Raw Material Prices
• Turbulent Global Political and Trade Relations

Key Questions Answered:

• How big is the automatic garage door operator market?
• What is the growth rate of the global automatic garage door operator market?
• Who are the key players in the global automatic garage door operator market?
• Which region holds the leading global automatic garage door operator market share?
• What are the rising trends in the automatic garage door operator market?

For more information about this report visit https://www.researchandmarkets.com/r/6t0dtv

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