Large doors on garages that open either by an electric motor or manually are garage doors. Garage doors are large enough to accommodate automobiles and other vehicles. The vast majority of commercial garage doors are produced from steel and aluminum. Improving economic conditions are providing a better operating environment for manufacturers as the industry is cyclical.
Rapid economic development and growth in the tourism industry have increased the demand for commercial garage doors with better esthetic appeal for hotels, restaurants, multiplexes, supermarkets, and others. Increase in public funding, rise in government investment for infrastructural development, and a steady decline in building material costs are projected to fuel the market. Technological advancement is a major factor contributing to the expansion of the commercial garage doors market due to the increasing preference of consumers toward technologically advanced products.
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Construction and renovation of shopping malls, hospitals etc. have significantly increased over the past few years. This in turn is estimated to propel the commercial garage doors market during the forecast timeline. Manufacturers are concentrating more on new commercial constructions due to higher profitability involved in it. Rise in demand for energy-efficient products is expected to boost the commercial garage doors market over the coming years. Developing economies such as China and India, and rise in consumer income levels are factors which are increasing construction and repair activities. This is also projected to propel the market.
The global commercial garage doors market can be segmented based on type, material, mechanism, size, end-use, and region. In terms of type, the market can be divided into up and over doors with retractable lifting gear, up and over doors with canopy lifting gear, sectional doors, roller doors, side hinged doors, and others. Based on material, the market can be divided into wood, glass, metals, vinyl, fiberglass, and fiberboard. In terms of revenue, the metals segment accounts for a large share of the market due to its durability & resistance to fire and chemicals. Metal exterior doors are the most preferred type used in the commercial sector. In terms of mechanism, the commercial garage doors market can be classified into overhead, sliding, swinging, folding, and others. Increase in demand for sliding and hinged doors are anticipated to boost the market during the forecast period.
The more a sectional door is used, it is vital that the mechanism behind the door is powerful and efficient. Thus, the size of the door is a crucial factor. A bigger and hence heavier door requires hardware to hold it that is stronger and more solid. Based on size, the market can be segmented into single garage doors, and double garage doors. In terms of end-use, the commercial garage doors market can be bifurcated into office, retail, lodging, industrial, institutional, and others. In terms of region, the commercial garage doors market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
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The global commercial garage doors market is expanding at a rapid pace. A large number of domestic and regional players offer a wide range of products due to growth in design innovation, technological advancements, and rise in competition in the market. Players in the commercial garage doors market are encouraging various consumers to invest in doors with advanced features such as enhanced security, durability, and thermal insulation. Key players operating in the global commercial garage doors market include 1st United Door Technologies, ALULUX, Beijing Hong Risheng Industry & Trade, GARAGA, Garex, General Doors Corp, Hörmann, Martin Door, Novoferm, Overhead Door Corporation, Panpan Group, Raynor, SAFE-WAY, Shuangshi Garage Door Industry, Steelcraft, Windsor Door, and Youtai Door Industry.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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