It may surprise the public to know that one of the most stable industries in North America is the garage door manufacturing, installation, repair, and maintenance industry. In fact, IBISWorld records that the United States’ market share owned by garage door companies grows at an annualized rate of about 2% every year. This is true even now, in 2020, during the midst of a global coronavirus pandemic.
For industry insiders, the fact that there is ample opportunity for investment and business growth in this arena may come as less of a surprise. However, it is still crucial to understand how the market currently shapes up, trends that are expected to develop in the coming years, and how those trends are likely to affect businesses across the United States and Canada. From garage door repair in Pittsburgh to garage door repair in Calgary, both American and Canadian businesses in the garage door sector thrive as a result of both commercial and residential opportunities.
Material Trends in Residential and Commercial Garage Doors
Garage doors are made out of all kinds of material, from metallic options to wood and even synthetic material. Importantly, the sector in which a business focuses can largely determine the types of garage doors it sells or installs, including the material from which the garage doors are made.
Common Materials for Residential Consumers
In the past, many garage doors were made out of wood. While some residential consumers have moved on to metallic doors, an increasingly common sight is the use of synthetic materials like fiberglass or vinyl. Often, the reason for this is because these materials offer better insulation than previously available, and insulation means energy efficiency and a reduction in monthly energy costs. Also, homeowners in Canada and the northern United States place a high emphasis on insulation because the weather in those areas can get frightfully cold.
Common Materials for Commercial Consumers
On the other hand, commercial consumers often have a higher need for asset protection and security, since they often house thousands of dollars’ worth of goods or products behind the garage doors through which they receive deliveries. Better security means metallic materials, and it’s true that the commercial sector overwhelmingly flocks to garage door materials like:
Designs and Types of Doors For Various Customers
Another way in which the two sections of the garage door industry differ is in their preferred style or design of door. For example, residential clients are often drawn to simpler, sectional overhead garage doors with vertically stacked windows made of glass to allow natural light. Alternatively, commercial styles of garage doors include:
- security grates and grilles
- sideways sliding garage doors
- high-powered, high-performance overhead garage doors
- shutter-style doors
Knowing the niche group to which a business wishes to cater is an important step in creating an inventory that will attract potential clients.
Design Trends Among Homeowners
Commercial garage doors are less susceptible to trends based on aesthetics, placing more of an emphasis on functionality. However, residential trends often reflect home beauty standards. Below are some of the growing trends in North America, mainly for residential customers.
- use of darker colors rather than the traditional white
- frosted or blurred glass windows that obscure the interior but allow natural light
- coordination of color with the house’s accent pieces like window sills and shutters
A word of caution: at the end of 2020, the housing markets in both the US and Canada continue to exhibit high prices, even as many people struggle to make rent and mortgage payments. This could be problematic, but indications are good that the housing market will prevail. In fact, Norada Real Estate Investments reports that new homes are at a 1-year high and the number of home sales continues to grow. What does that mean for people in the garage door industry? It means that residential markets may continue to be a solid source of profit as new homeowners seek to install new garage doors or renovate existing ones.
Important takeaways from the garage door market and industry analysis include that both commercial and residential sectors should experience continued growth. As real estate developers capitalize on profit forecasts and continue to develop land into both commercial and residential areas, niches for garage door industry insiders will see significant abundance.