Global Athletic Tapes Market 2023

Description
The global market for automatic garage door operators reached USD 2.49 billion in 2022 and is projected to reach USD 3.35 billion by 2029, growing at a CAGR of 4.2%. This growth is driven by the increasing demand for environmentally-friendly electrical appliances, sustainability focus, and the need for reduced energy consumption in commercial, residential, and industrial buildings. Garage door operators are widely used in various buildings and consist of an electric motor, microcontroller module, and mechanical components. Renovations, infrastructure development, and remodeling of existing buildings also contribute to market growth. In mature markets like North America and Europe, product innovations from brands like Genie, Chamberlain, and Ryobi have fueled market growth. The concept of smart homes and the demand for smart technologies will play a vital role in residential and commercial settings. Rapid industrialization and population growth in countries like India and Japan will drive the installation of garage doors. The increasing number of cars in cities has led to a higher demand for garage spaces, particularly in urban areas and developing countries. As a result, the automatic garage door operator market is expected to witness growth during the forecast period.

Market Segmentation
The market is segmented based on various factors, including opener type, sensor type, controller type, installation type, distribution channel, end user, and geography.

Segmentation by Opener Type
Screw Drive
Chain Drive
Belt Drive
Others

Segmentation by Sensor Type
Infrared Sensor
Photoelectric Sensor

Segmentation by Controller Type
Wi-Fi
Bluetooth

Segmentation by Installation Type
New Construction
Replacement

Segmentation by Distribution Channel
Offline
Online

Segmentation by End User
Residential
Commercial

Segmentation by Geography
North America - US, Canada
Europe - Germany, France, UK, Italy, Russia
Asia-Pacific - China, Japan, India, Australia
Latin America - Brazil, Mexico, Argentina
Middle East & Africa - South Africa, Saudi Arabia, UAE

The global market for automatic garage door operators is categorized into screw drive, chain drive, belt drive, and others. In 2022, screw drive dominated. Screw drive openers use a threaded steel rod to lift the door by winding or unwinding a cable around a pulley. They are quieter than chain drive systems and suitable for large or heavy garage doors. Automatic garage doors use sensors like infrared and photoelectric sensors. They have applications in residential housing, commercial spaces, and other areas. The demand is driven by factors like energy efficiency, ease of operation, security, speed, accuracy, and cable-free operation. Infrared sensors dominate the market due to low power consumption and useful features. Home automation simplifies life through technological advancements. The Internet of Things (IoT) allows devices to be connected online and monitored remotely. Automatic garage door systems have seen significant growth. The global market is divided into Wi-Fi and Bluetooth controllers, with Wi-Fi controllers holding a larger share due to advantages in system control and accessibility.

New construction dominates the automatic garage door operator market in 2022. Innovations in manufacturing and locking systems have led to longer replacement cycles. The recovery from the Russian invasion and COVID-19 has stimulated construction globally, especially in emerging economies like China, India, and Brazil. Construction projects in various sectors will contribute to market growth. The market is segmented into residential and commercial sectors, with residential holding a larger share due to population growth. Governments support residential construction. Offline distribution channels dominate the market due to extensive coverage, brand loyalty, and product quality.

North America had the largest market share in the global automatic garage door operator market in 2022, accounting for approximately 40.4%. Economic growth, new business establishments, company expansions, and increased construction activities drive the demand in the region. Smart automatic garage door operators are being implemented in residential and commercial buildings to control energy consumption and achieve energy efficiency goals. In Europe, the market is driven by increased installations in new buildings and higher demand from renovations and retrofit activities. Retrofit and renovation projects play a significant role in the European market. The APAC region is expected to have the fastest growth in the automatic garage door operator market during the forecast period. Strong economic growth, rising construction activities, and increasing disposable income contribute to the market's growth in this region.

Competitive Landscape
The global market for automatic garage door operators is highly competitive, with numerous companies competing based on product design, reliability, quality, support services, and pricing. Technological advancements drive the need for continuous innovation and product upgrades. To maintain a strong market presence, vendors must enhance their unique value propositions. Limited R&D investments in the sector are driven by large vendors, focusing on cost reductions and improvements in existing product technologies. Mergers and acquisitions are common strategies to develop and enhance offerings. Key companies in this market include Chamberlain Group, Overhead Door Corporation, GARADOR, HORMANN, NOVOFERM, TECKENTRUP, The Genie Company, SkylineNet Inc, CAME SPA, ERREKA, Gliderol, Marantec, Somfy, King Gate, Kruzik, Nice, Ryterna, ALUTECH, Raynor, Doorhan, Boss, and CRAFTSMAN.