Summary
- • The global garage door market size was valued at USD 1.8 billion in 2020
- • The garage door market is expected to grow at a CAGR of 5.4% from 2021 to 2028
- • North America accounted for the largest revenue share of 35.2% in 2020
- • The residential segment dominated the market with a share of 60.5% in 2020
- • Steel garage doors held the largest market share of 45.2% in 2020
- • The average cost of a new garage door installation is $1,100
- • The garage door repair industry in the US is worth $5 billion
- • There are approximately 13,000 garage door businesses in the United States
- • The garage door industry employs over 65,000 people in the US
- • The average lifespan of a garage door is 15-30 years
- • Approximately 71% of homeowners use their garage door as the main entry point to their home
- • The smart garage door opener market is expected to reach $1.2 billion by 2026
- • About 9% of homeowners plan to replace their garage door in the next two years
- • The average ROI for a garage door replacement is 93.8%
- • The global industrial door market size was valued at $75.2 billion in 2020
Step right up, folks, and behold the mesmerizing world of garage doors – where statistics tell tales of innovation and intrigue! Did you know that the global garage door market soared to a whopping $1.8 billion in 2020, with North America strutting its stuff as the revenue champion? From the average cost of a new garage door installation to the jaw-dropping $5 billion garage door repair industry in the US, these fascinating figures paint a colorful picture of an industry that packs a punch. So buckle up as we unravel the mysteries behind the steel-clad dominion of garage doors – its more than just a gateway to your abode!
Consumer Behavior
- Approximately 71% of homeowners use their garage door as the main entry point to their home
- About 9% of homeowners plan to replace their garage door in the next two years
- Approximately 63% of new single-family homes completed in 2019 had a two-car garage
- About 82% of homes in the US have a garage or carport
- About 35% of homeowners prefer garage doors with windows
- About 20% of homeowners prefer carriage-style garage doors
Interpretation
In a world where convenience reigns supreme, it seems the garage door has emerged as the unsung hero of home entryways, with a whopping 71% of homeowners choosing it as their main portal to domestic bliss. With nearly one in ten homeowners poised to give their garage door a facelift in the near future, it's clear that appearances do matter in the world of curb appeal. And in a nation where cars are king, it's no surprise that a majority of new single-family homes in 2019 boasted a two-car garage, ensuring ample space for vehicular royalty. Indeed, with a staggering 82% of homes sporting a garage or carport, it's evident that American abodes have a soft spot for safeguarding their wheels. As for style preferences, it seems a sizable chunk of homeowners have a penchant for peek-a-boo windows and charming carriage-style doors, adding a touch of personality to the often-overlooked entranceway. So whether your garage door is a straightforward workhorse or a stylish statement piece, one thing is certain - it's a key player in the daily dance of home life.
Industry Structure
- There are approximately 13,000 garage door businesses in the United States
- The garage door industry employs over 65,000 people in the US
Interpretation
With over 13,000 garage door businesses in the US and more than 65,000 people swinging into action within this industry, it's safe to say that the garage door business is not just booming but also opening doors to opportunities for many. From repairing squeaky hinges to installing state-of-the-art smart doors, these stats prove that when it comes to this niche market, there's a lot more behind the scenes than just a mere "open sesame."
Installation and Costs
- The average cost of a new garage door installation is $1,100
- The average ROI for a garage door replacement is 93.8%
- The average cost to repair a garage door is $243
- The average cost of a high-end custom garage door can range from $6,000 to $10,000
- The average garage door installation takes between 3 to 5 hours
Interpretation
In the world of garage doors, it seems that investing in a shiny new entryway to your abode not only adds curb appeal but also a pretty penny to your home's value. With an ROI of almost 94%, you might as well hang a "Welcome Home" sign on that garage door. But beware, if you're feeling a little stingy and opt for a repair instead, don't be surprised if your wallet sheds a tear – the cost can still leave a dent at $243. And for those feeling extra fancy, splurging on a high-end custom door could make your neighbors green with envy, and your bank account a little lighter. Just remember, whether you're in it for the long haul or a quick fix, installing that garage door will take a few hours – so grab some popcorn, sit back, and watch as your home transforms before your eyes.
Maintenance and Repairs
- Approximately 70% of garage door repairs are due to broken springs
- Approximately 20% of garage door service calls are for misaligned photo eye sensors
- The average cost to replace garage door cables is $150 to $200
- The average cost to replace a garage door torsion spring is $200 to $300
- The average cost to replace garage door rollers is $100 to $200
- The average cost to replace a garage door panel is $250 to $800
Interpretation
In the thrilling world of garage door maintenance, broken springs reign supreme, commanding a whopping 70% of repair needs. But let's not overlook the quirky misalignment issues of photo eye sensors, making up 20% of service calls – a reminder that even in the realm of hardware, technology can have a mind of its own. And for those who prefer a more dramatic overhaul, the various costs involved—from cable replacements to panel revamps—serve as a testament to the diversity of garage door dilemmas. So next time your garage decides to act out, just remember: it's not you, it's your door.
Market Segmentation
- The residential segment dominated the market with a share of 60.5% in 2020
- The commercial garage door segment is expected to grow at a CAGR of 6.2% from 2021 to 2028
Interpretation
In the high-stakes world of garage doors, it seems that residential properties have taken the lead with a firm grip, claiming a commanding 60.5% share of the market in 2020 - proving that even garages have curb appeal. Meanwhile, the commercial garage door segment is gearing up for a growth spurt, projected to rev its engines and accelerate at a notable 6.2% CAGR from 2021 to 2028, indicating that the business world is ready to roll up its sleeves and let those doors swing open to new opportunities. In this cutthroat industry, it's clear that whether you're parking your car or sealing a deal, the competition is fierce and the gates to success are always in motion.
Market Size and Growth
- The global garage door market size was valued at USD 1.8 billion in 2020
- The garage door market is expected to grow at a CAGR of 5.4% from 2021 to 2028
- North America accounted for the largest revenue share of 35.2% in 2020
- The garage door repair industry in the US is worth $5 billion
- The global industrial door market size was valued at $75.2 billion in 2020
- The global sectional doors market is projected to reach $3.2 billion by 2025
- The global rolling door market is expected to grow at a CAGR of 5.3% from 2021 to 2026
- The global fire-rated doors market is projected to reach $17.1 billion by 2025
- The global overhead doors market is expected to reach $23.9 billion by 2027
- The global industrial rolling shutter doors market is projected to grow at a CAGR of 4.5% from 2021 to 2026
- The global commercial overhead doors market is expected to reach $3.5 billion by 2025
- The global high-speed doors market is projected to reach $3.5 billion by 2026
- The global automatic sliding doors market is expected to reach $4.2 billion by 2025
- The global industrial sectional doors market is projected to grow at a CAGR of 4.8% from 2021 to 2026
- The global fire-resistant glass doors market is expected to reach $2.3 billion by 2026
- The global automatic gate market is projected to reach $3.1 billion by 2025
- The global industrial doors and gates market is expected to reach $31.6 billion by 2027
Interpretation
The garage door industry is anything but closed off to growth, as evidenced by the booming statistics that have emerged from the shadows. With numbers that could make even the most stoic of economists do a double-take, it's clear that there's a strong pull towards upgrading and enhancing the humble garage door. From fire-rated doors to high-speed doors, the market seems to be flinging open its gates to innovative solutions and sophisticated designs. With such impressive figures, it's safe to say that the garage door has evolved from merely a functional necessity to a stylish statement piece in the world of architecture and design. Let's roll with the times and open the door to a future where even the most mundane features of our homes can shine with potential.
Material Trends
- Steel garage doors held the largest market share of 45.2% in 2020
- About 47% of homeowners prefer insulated garage doors
- About 53% of homeowners prefer steel garage doors
- About 40% of homeowners prefer wooden garage doors for their aesthetic appeal
- About 15% of homeowners prefer aluminum garage doors
- About 25% of homeowners prefer glass garage doors for modern homes
Interpretation
In the thrilling world of garage doors, steel reigns supreme with a dominance that would make even the toughest alloy blush. Insulated garage doors, with their warmth-loving allure, have secured the hearts of nearly half of homeowners, while wooden garage doors strut their aesthetic appeal to a respectable 40%. Aluminum doors have a modest but dedicated fan base of 15%, proving that sometimes, less is more. And for the avant-garde enthusiasts, glass garage doors gleam brightly, capturing the attention of 25% of homeowners seeking a touch of modern elegance. In this battle of materials and styles, the garage door industry proves that functionality and aesthetics can indeed be a match made in garage heaven.
Product Lifecycle
- The average lifespan of a garage door is 15-30 years
- The average garage door opens and closes about 1,500 times per year
- The average lifespan of a garage door spring is 7-9 years
Interpretation
In the tumultuous and demanding world of garage doors, statistics paint a picture of resilience and endurance. Like a silent sentinel, the average garage door stands proud for a solid 15-30 years, weathering the storm of daily openings and closings—roughly 1,500 times annually—as if performing a daily ballet. And let’s not forget the unsung hero, the garage door spring, whose 7-9 year existence is fraught with tension, before inevitably giving in to the pressures of keeping everything smoothly in motion. In this realm of calculated cycles and inevitable wear and tear, one thing is certain: like all good performers, these essential components of our daily lives quietly do their job until they simply can’t anymore.
Product Specifications
- The average weight of a single-car garage door is between 130 to 180 pounds
- The average R-value of an insulated garage door is between R-6 and R-18
- The average width of a single-car garage door is 8 to 9 feet
- The average height of a residential garage door is 7 to 8 feet
- The average thickness of a steel garage door panel is 24 to 25 gauge
- The average weight capacity of residential garage door springs is 150 to 250 pounds
Interpretation
In the world of garage doors, weighty decisions and insulating revelations abound. From the substantial 130 to 180 pounds of a single-car garage door to the R-value ratings that range from a chilly R-6 to a cozy R-18, these statistics prove that behind every mundane entrance lies a universe of specifications. With widths spanning 8 to 9 feet and heights reaching for the suburban skies at 7 to 8 feet, it's clear that garage doors are not just barriers but bold statements of architectural prowess. And let's not forget the steel panels flexing their 24 to 25-gauge muscle, while the springs hold up the whole operation with a nonchalant capacity of 150 to 250 pounds. Ah, the humble garage door—a heavyweight champion in the world of home functionality and style.
Safety Statistics
- Approximately 30% of garage door accidents involve pinched fingers
Interpretation
In the high-stakes world of garage door mishaps, it seems that fingers are bearing the brunt of the burden, with approximately 30% of accidents resulting in the unfortunate case of pinched fingers. As the digits valiantly navigate the treacherous terrain of garage mechanisms, it is a reminder that even in the most mundane of settings, danger can lurk just around the corner - or in this case, just above it. Stay vigilant, and may your fingers remain unscathed in the battle against the mighty garage door.
Technology Trends
- The smart garage door opener market is expected to reach $1.2 billion by 2026
- The global automatic door market size was valued at $22.4 billion in 2019
- The global garage door opener market is expected to reach $2.5 billion by 2027
- The average cost to install a smart garage door opener is $350 to $600
- Approximately 60% of garage door openers sold are belt-driven
- Approximately 70% of new garage door installations include an automatic opener
- Approximately 55% of garage door openers sold have Wi-Fi connectivity
- The global automatic door sensors market is projected to reach $1.8 billion by 2025
- Approximately 40% of garage door openers sold have battery backup features
Interpretation
In a world where our doors are getting smarter than some politicians, the garage door industry is booming with more billions than you can shake a remote control at. From the rise of automatic openers to the fancy Wi-Fi connectivity, it seems like our garage doors are gearing up for a high-tech revolution. With battery backups and automatic sensors becoming the new norms, it's clear that even our humble garage doors are getting a major upgrade. So, buckle up folks, because the future of garage doors is looking sleek, efficient, and possibly plotting to take over the world—one smooth belt drive at a time.