Garage Doors Market: By Material Type (Aluminum, Steel, Wood, Fiberglass, Others), By Door Type (Automatic, Manual), By Application (Residential, Commercial) and Geography  

Garage Doors Market size was valued at USD 5,682.5 million in 2023 and is poised to grow at a CAGR of 6.2% from 2024 to 2030. Garage Doors are large doors that cover the opening through which a car enters and leaves the garage. To open, close, and monitor garage doors, there are several technologies nowadays. A remote opener for a garage door is the latest technology on the market. The fabricators of overhead doors and garages are working rigorously to incorporate operations of the door with Internet of Things (IoT) technologies. The doors with smartphone applications will notify the users if there is any anomaly in the locking system. Moreover, Overhead garage doors offer space-saving features, convenience, and enhanced security. They offer a sleek and modern aesthetic while adding value to your property. With durable construction and insulation options, they also contribute to energy efficiency. Furthermore, the key market players are continuously investing in novel product designs. For instance, Google’s Nest smart-home sector recently announced a novel smart thermostat.

The new Nest Thermostat is a modest model than the Nest Thermostat E and is accessible at a lower price of USD 130.99, accounting for a difference of USD 40 less than the Nest E and USD 125 less than the top-of-the-line third-generation Nest Learning Thermostat. It was made available to pre-order immediately. Moreover, the collaborations between the real estate and market players are anticipated to drive the market in the forecast period. However, the challenges associated with the garage doors market are if they are not automated they can be heavy to handle, security vulnerabilities, maintenance requirements, dependency on power, weather vulnerability, limited life span, and high cost associated with the fabrication remains a substantial barrier that hampers the demand for the garage doors. However, the key opportunities associated with garage doors are grow in residential constructions, increasing demand for renovation and remodelling activities, increasing urbanization, and geographical expansion by the market players are anticipated to bolster the demand for the garage doors market in the forecast period.  

Garage Doors Market Key Developments:

• In January 2021, Raymore made publicization its pronouncement regarding the acquisition of ProDoor, which is affianced in the strategy and development of residential and commercial steel doors.