A significant portion of the garage door market in Canada and the United States serves commercial clients. Whether restaurants, warehouses, retail stores, parking garages, or a host of other entities, these businesses often require large, electrically-operated garage doors to accommodate delivery vehicles, guests, and other automobiles. In this article, we will examine the existing commercial garage door market and make a few projections for the coming years. The good news, especially for industry insiders, is that the overall garage door market is expected to experience growth in keeping with its current trends.
Global Data on the Garage Door Market
To start our analysis, it is best to consider the overall picture. Garage door installation, repair, and maintenance is all factored into the value of the worldwide market. Currently, the best data on the industry has been gathered by Statista. Under analysis, it appears that the market was valued at $1.07 billion USD in 2016 and is expected to be near $1.4 billion by 2021. In the United States alone, the garage door installation industry experiences an annualized growth rate of 2%, as reported by IBISWorld. Even amid the coronavirus pandemic of 2020, the industry grew at a rate of 1.6%. While this is lower than the 2% annualized rate, it still represents significant growth amid an economic downturn.
Trends for Commercial Garage Doors
In fact, the pandemic may be a boon to the garage door industry (both residential and commercial). Many homeowners and store owners, for instance, are loath to leave their home and enter repair shops or home improvement stores like the Home Depot for fear of large crowds and the possible spread of COVID-19. This means that they are more likely to hire garage door installation and repair companies to do the job for them, leading to an increase in revenue across the board, from garage door repair in Woodbridge to garage door repair in Edmonton, Canada.
But what are the trends specific to commercial garage doors? Transparency Market Research collected data from a wide variety of industry insiders regarding the current upticks in commercial garage door selection. Below, we have listed some of the highlights.
- There has been an emphasis on new commercial construction in recent years, due to high profitability.
- Energy-efficiency is a key factor in the construction and renovation of commercial garage doors, expected to influence the market significantly in coming years.
- There are three areas that market watchers suggest investing in with regard to commercial garage doors:
- security measures
- thermal insulation
- extensive durability
- The largest portion of commercially-used garage doors are made of steel and aluminum.
According to garage door industry giant Wayne Dalton, many of the aesthetic trends used by homeowners and commercial businesses alike tend to start in the north and move south. This is especially true when it comes to issues like thermal insulation and energy efficiency, since these topics are far more relevant in colder climates.
Wayne Dalton’s study of recent sales trends in the garage door market show some general points.
- Darker colors, such as black, are being favored due to their ability to hold in heat better than lighter and brighter colors.
- Fiberglass and wood-stained metal are favored over wooden garage doors, due to better insulation.
- For windowed garage doors, vertical stacking is much more prevalent now than side-by-side or horizontal arrangements.
Numbers two and three may be irrelevant for most commercial garage doors, as many business owners do not desire windowed garage doors and the industry already uses mostly metallic doors. However, the general trend that should be considered by those in the commercial garage door industry is that clients are wanting better insulation and energy efficiency. By providing materials that trap heat and save money, garage door installation companies can gain an edge in the marketplace.
Billions of dollars are spent on commercial garage doors every year, and this fact does not appear to be changing anytime soon. In the United States alone, businesses in this industry accumulated more than a third of a billion US dollars in 2020. As climate change, COVID-19 restrictions, and other factors continue to place an emphasis on insulation and energy efficiency, no doubt garage door installation and repair companies will reap the benefits.