Garage Door Replacement Parts Market Size, Share, Growth, And Industry Analysis By Type (Metal Parts, Electromechanical Parts) By Application (Residential, Commercial) and Regional Forecast to 2028

Updated On: 08 April 2024

Report Overview

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The global Garage Door Replacement Parts Market size was 3688.3 million in 2022. As per our research, the market is expected to reach USD 4153.7 million by 2028, exhibiting a CAGR of 2.0% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with the Garage Door Replacement Parts Market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Garage Door Replacement Parts are the components that make up the garage door. The most common type of garage door is the roller door. Garage doors are usually made of metal or wood, but some are made of other materials, such as fiberglass.

The global Garage Door Replacement Parts Market growth is due to the increasing demand for garage door replacements in the residential and commercial sectors across the globe. The global Garage Door Replacement Parts Market growth is due to increasing security awareness, increasing disposable income and growing demand for automatic doors. Additionally, growth in the construction industry is expected to augment the garage door replacement parts market growth during the forecast period. Increasing demand for different types of garage doors such as sectional doors, roller doors, ventilation doors, security doors and side hinged doors are the major drivers for the growth of the garage doors market. This demand has created a global opportunity for the growth of the garage door manufacturing, installation and service industry.

COVID-19 Impact: Involuntary closure of production units widened the gap between supply and demand in the market 

In the midst of the COVID-19 pandemic, many major manufacturers have seen their annual revenue production drop by a negligible amount and their profit margins have steadily declined. The decline is primarily due to the inability to continue to provide updated offerings of our products in our operating regions following the disruption of global supply chains.

Latest Trends

"Renovation and renovation of old buildings and other projects that promote market growth "

Renovation and remodeling of smart homes and upgrading of existing Garage Door Replacement Parts are expected to enter the garage door market. Repair and renovation projects are also fueling the Garage Door Replacement Parts Market growth. However, technological development is a key trend in the development of innovative garage door solutions. The integration of Internet of Things (IoT) and Artificial Intelligence (AI) technologies in garage door systems is expected to boost the global garage door market.

Segmentation

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• By Type Analysis

According to type, the market can be segmented into Metal Parts, Electromechanical Parts. Metal Parts Monitor is anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into Residential, Commercial. Residential will be the dominating segment.

Driving Factors

"Awareness of green energy solutions to promote sales of eco-friendly garage doors "

 It is easy to increase the energy level of homes by repairing an eco-friendly garage door. The garage door is the most important moving part of the home, which means structural strength and energy efficiency; two important measures in green construction and sustainable design. A biodegradable door or green garage door is manufactured and designed with insufficient environmental impact. Growth in construction activities and increased recruitment of installation services in different parts of the world is expected to create lucrative opportunities for Garage Door Replacement Parts market growth.

"The rapidly growing development of the construction industry fueling the market growth"

The development of the door market was supported by the quiet but consistent recovery of the world economy and the recovery of the construction industry in 2007-2011 the annual recession. Moderate growth is expected in this sector over the next five years. According to Oxford Economics, the global construction industry accounts for about a tenth of the world's GDP and is expected to reach about $8 trillion by 2030. This overall Garage Door Replacement Parts Market growth outlook will increase the demand for doors during the forecast period. The main market drivers for smart garage doors are the growing demand for home automation internet penetration and technological advancements, and these technological advancements allow such doors to be controlled via smartphones, tablets, Bluetooth and Wi-Fi. High demand for smart garage doors due to ease of use and convenience in several developed countries is likely to fuel the Garage Door Replacement Parts Market growth.

Restraining Factors

"High cost of installation and lack of awareness about the garage door is hindering the market growth "

The cost of installing a garage door is about $1,100 to $1,250, including labor and other prices, depending on the size, material, type, style and other issues of the Garage Door Replacement Parts. These key factors are expected to restrain the growth of the garage door market. The costs of repairing or replacing the garage door, as well as the costs of installing door accessories and electrical work, are also expected to increase the resale value of the Garage Door Replacement Parts. Steel is the most popular choice for garage doors, and wood composite is a beautiful but expensive option.

Regional Insights

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"North America will dominate the market during forecast period "

North America dominated the Garage Door Replacement Parts market share in terms of revenue in 2022 and is expected to grow at a significant CAGR during the forecast period. Regional growth is fueled by increasing demand for smart connected devices, rapid urbanization, rising disposable incomes, and increasing transmission operations, which are influencing the demand for automatic opening systems across the globe. Majority of the market growth will come from North America during the forecast period. The United States and Canada are the leading markets for smart Garage Door Replacement Parts in North America. The increase in demand for doors in the region is largely due to the growing infrastructure and construction industries. Demand for custom doors is growing rapidly in the region due to high demand infrastructure that improves aesthetic appeal. As a result, the Garage Door Replacement Parts Market growth is positively affected.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Chamberlain Group (U.S.)
• Overhead Door (U.S.)
• Novoferm (U.K.)
• Amarr (U.S.)
• SOMMER (Germany)
• LiftLogix (U.S.)
• Prime-Line (U.S.)
• Koala Canada (Canada)
• Dalian Seaside (China)
• Skylink (U.S.)
• FORESEE (U.S.)
• Teckentrup (U.K.)
• Marantec (Germany)
• Industrial Spring (U.S.)
• Came S.p.A. (Italy)
• Steel-Craft (U.S.)
• Garaga (Canada)
• ADH Guardian (Taiwan)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.