Commercial Overhead Doors Market Report Overview
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The global commercial overhead doors market size is USD 2681.2 million in 2021 and is projected to touch USD 6730.69 million by 2031, at a CAGR of 9.64% during the forecast period.
Doors are portable barriers that provide access to and departure from a specific space. Its primary function is to provide security, and depending on where it is installed, it can be external or internal. Due to the ongoing expansion of global infrastructure and building, the doors sector is predicted to have rapid growth. Over the next ten years, the construction industry as a whole will grow more quickly than the world economy as a whole. The number of smart city initiatives worldwide has greatly increased in 2020.
COVID-19 Impact: The COVID-19 Underlying Condition Crippled the Market Growth
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
The commercial overhead doors market share was negatively impacted by the COVID-19 pandemic. The current shortage of raw materials is the result of supply chain interruptions. This has affected the financial flow of composites because there aren't enough interested investors. Lack of labourers and a change in consumer expenditure from construction to healthcare have all significantly reduced the market share of the the doors. The coronavirus outbreak, however, has led to a state of lockdown in a number of countries, which has a detrimental effect on consumer purchasing power. The lockout has caused retail chains to close.
LATEST TRENDS
"Doors with Enhanced Durability and Fast Opening Speed to Boost Market Growth"
Building owners are being persuaded by rivals in the commercial overhead doors market to spend money on doors with improved durability, security, and thermal insulation. The styles of overhead doors that are available from suppliers are also being expanded. Examples include the types with aluminium frames and glass panels that are in high demand in restaurants and bars. Industrial rubber and fabric doors that quickly open and close make up a modest but expanding portion of the overhead door market. In addition to requiring less maintenance and extending product lifespan, these high-speed doors' springless designs.
Commercial Overhead Doors Market Segmentation
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- By Type
Based on type the commercial overhead doors market is classified as sectional doors, rolling doors, high speed doors and others.
- By Application
Based on application the commercial overhead doors market is classified as warehouse, garage and others.
DRIVING FACTORS
"The Metal Doors to Gain Traction and Multiply the Consumers"
As they are widely employed in commercial and residential applications, driven by their physical properties like as durability, longevity, and flexibility in design, the metal commercial overhead doors market is expected to produce over USD 40 billion in 2020. The most popular metal in product manufacturing is aluminium.
The development of goods with improved thermal insulation and weatherproof doors with higher durability is currently the focus of manufacturers. These doors' design is based on customer customisation requests, including the product's size and intended use. These items are a great option for security applications because of their corrosion-resistant qualities and improved looks. Metal doors offer strong impact and fire resistance, which strengthens the entire building. The availability of these attributes increases demand for various door types in commercial and industrial structures.
"The Growing Urbanization and Rising Population to Witness Surplus Market Growth"
In the projected period, the residential application is expected to account for almost half of the market for commercial overhead doors. A growth in the industry is anticipated due to the residential building sector's promising product outlook and the growing population. Demand will increase even more as a result of the expansion in residential building brought on by the availability of government subsidies. The market for renovation and repair has expanded, and this has increased market income.
Manufacturers in developing countries are heavily investing in new construction due to the improved profitability brought about by the building of new homes. The overall commercial overhead doors market growth will be supported by the rising demand for energy-efficient products, notably in new residential construction. Market participants in the construction industry are concentrating on offering better products for building operations by expanding the infrastructure. Business growth will be aided by rising disposable income and current usage patterns for eco-friendly buildings. The capacity to customise products to meet consumer needs will further increase industry demand.
RESTRAINING FACTORS
"High Prices of Raw Materials and Limited Supply to Restrain the Market Growth"
For most Asian and European industries, sourcing raw materials has become a problem. The lack of clear standards and concurrently poor demand from door makers caused softwood sawmillers to impose production reductions, which first resulted in a reduction in lumber operations. Manufacturers faced a shortage of raw materials and had to endure lengthy waiting times once the market started to show indications of recovery since many sawmills were unable to simplify their post-pandemic supply chains.
Commercial Overhead Doors Market Regional Insights
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"Asia Pacific region to Lead Market With Presence of Key Manufacturers and Urbanization"
Over the projected timeframe, the Asia Pacific commercial overhead doors market share will experience a growing CAGR. It is projected that China's growing need to modernise its commercial, medical, educational, and residential structures will drive an increase in building reformation. The Indian government intends to make significant investments in the creation of institutional and commercial infrastructure as well as in the construction of affordable housing.
The region is expected to continue to rule the world, with a number of contributing causes. The main drivers of the market data are an increase in brand awareness and changing consumer preferences for high-end goods. The growth of the local economy and the rise in disposable income will directly translate into higher prices for all luxury goods, such as furniture, bathroom fixtures, and doors.
KEY INDUSTRY PLAYERS
"Prominent Manufacturers to Contribute Towards Expansion of Market"
The report is an extensive research which presents the historic and futuristic performance of industry with competitive landscape analysis which incorporates prominent key players ,and revenue trends of industry. The report provides substantial analysis of company profiling, growth insights, supply-demand chain, production and consumption demand, business expansion strategies adopted by top key players. The information is a collusion of latest technological developments, trends, production lines mergers and acquisitions, market study and other factors.
List of Market Players Profiled
- C.H.I. (U.S.A)
- Raynor (U.K)
- Wayne Dalto (U.S.A)
- Arm-R-Lite (U.S.A)
- Mid-Atlantic Door Group (U.S.A)
- Haas (U.S.A)
- Hormann Group (Germany)
- Shenyang Baotong Door (China)
- Garaga Inc (Canada)
- Amarr (U.S.A)
- Midland (U.S.A)
- Novoferm (Germany)
- Rytec (U.S.A)
- Overhead Door Corporation (U.S.A).
REPORT COVERAGE
The report anticipates a detailed analysis of the global market size at the regional and national level, the segmentation market growth and market share. The prime objective of the report is to help user understand the market in terms of definition, market potential, influencing trends, and the challenges faced by the market. Analysis of sales, the impact of the market players, recent developments, opportunity analysis, strategic market growth analysis, territorial market expansion, and technological innovations are the subject matter explained in the report.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 2681.2 Million in 2021 |
Market Size Value By |
US$ 6730.69 Million by 2031 |
Growth Rate |
CAGR of 9.64% from 2021 to 2031 |
Forecast Period |
2022-2027 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the commercial overhead doors market expected to touch by 2031?
The global commercial overhead doors market is expected to reach USD 6730.69 million by 2031.
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What CAGR is the commercial overhead doors market expected to exhibit by 2031?
The commercial overhead doors market is expected to exhibit a CAGR of 9.64% by 2031.
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Which are the driving factors of the commercial overhead doors market?
The metal doors gaining traction, the growing urbanzation and rising population are the driving factors of the commercial overhead doors market.
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Which are the top companies operating in the commercial overhead doors market?
Artium Corporation, Entrematic Group AB, YKK Corporation, Masco Corporation, Lixil Group Corporation, Pella Corporation, JELD-WEN Holdings, Anderson Corporation, Jarida Group, Century Doors, ARBO Windows, Stollar Systemy Okienne, ATIS Group and others are the top companies operating in the commercial overhead doors market.
