The Garage Door Market – Canada and US
The market for garage doors in the United States and Canada has steadily grown in recent years, at an annualized rate of about 2%, according to IBISWorld. Aggregated data puts the worldwide economic impact of the garage door industry at around $1.07 billion dollars (as of 2016), with an approach to $1.4 billion evident toward the end of 2020. This indicates that, even amidst the coronavirus pandemic and associated economic fallout, the garage door industry may be a key market for investors and business owners in the years to come.
Strategically, it is important to understand both design trends and features that are becoming more popular amongst consumers in order to capitalize on investment opportunities. In this report, we will discuss these factors as well as the general outlook of the garage door market throughout the United States and Canada, from garage door repair in Pickering to garage door repair in Kanata.
Design Trends in Residential Garage Door Installation
Garage doors have changed significantly over the years to match consumers’ needs for functionality as well as aesthetics. From the material used to make these doors to stylistic preferences, garage door design trends can help investors and garage door installation business owners know what kinds of doors may continue to be (or become) popular in the coming years.
In the past, white was a common color for garage doors on most houses. However, homeowners have begun to incorporate more diverse color schemes to add a “pop” to their overall home essence. Bold and darker colors are becoming increasingly popular, both as focal pieces and as accents to the home color scheme. For example, many homeowners in Canada and the US employ color matching between the garage door and accent pieces on the home, such as window shutters.
Boldness is the key word here. In fact, black garage doors have become all the rage across North America, according to Builder Online. In the future, it may be important for garage installation companies to focus on darker materials and color options as well as to make use of color matching technology to assist homeowners in selecting a garage door color scheme that matches their current accent pieces on their home.
Additionally, homeowners have begun to add more glass windows into their garage doors. This is largely because garages are more well-insulated than in previous decades, so these rooms have become more than simply a storage area for vehicles. Some garages are used as:
- washer and dryer rooms
- exercise or workout areas
- tool storage areas
In short, people are spending more time in their garages and using them in more versatile ways, and adding windows can help bring light and life to the area.
Finally, residential garage doors have traditionally been either metal or wood, but homeowners are venturing into synthetic materials now. Affordability and less upkeep are common reasons cited for the change. Materials that are now in use include:
Luckily for garage door companies, the affordability of these materials also affects them. It is cheaper to build and install these lightweight materials than other traditional garage door materials like steel or aluminum.
Importantly, however, commercial garage doors are still overwhelmingly metal. Most commercial garage door consumers are more concerned with issues like durability and functionality than aesthetics.
Movers and Shakers in the Industry
For investors, it may be important to consider some of the top garage door manufacturers in the United States and Canada. As far as volume and industry stability go, Amarr and Clopay are two of the leading garage door manufacturing companies in the world. The United States also has a large volume of the market cornered by manufacturers like:
- George P. Coyle & Sons
- Wayne Dalton
- The High Performance Door Company
Some of the leading businesses in Canada include:
- Apex Industries
- Blanca Canada Inc.
These manufacturers usually offer both residential and commercial options, though some focus solely on commercial ventures. The garage door market’s commercial customers tend to be any business that requires bulk delivery (as overhead garage doors often serve as easy access points for delivery vehicles). This can include restaurants, hospitals, hotels, warehouses, and more.