Residential Garage Door Demand to Grow 4.8% Annually Through 2022

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    Residential Garage Door Demand to Grow 4.8% Annually Through 2022

    Garage Door Making Loud Noises

    CLEVELAND, Oct. 22, 2018 /PRNewswire/ — Demand for residential garage doors is forecast to increase 4.8% per year to $2.2 billion (3.2 million units) in 2022. Overall, sales growth will be driven by:

    • continued healthy advances in new housing construction 
    • strong increases in residential improvement spending
    • homeowner tendency to trade up to better quality, more expensive products (such as by replacing standard steel garage doors with models featuring improved insulation or glass panels)
    • ongoing emphasis on boosting curb appeal and property value by investing in higher priced garage doors

    More information about this study is here: https://www.freedoniagroup.com/industry-study/garage-overhead-doors-3688.htm

    The majority of sales gains in value terms will derive from increases in the new garage door market as rebounding housing starts help boost demand. Builders are increasingly recognizing the value of investing in higher quality, higher cost garage doors that help attract buyers. These and other trends are presented in Garage & Overhead Doors, a new study from The Freedonia Group, a Cleveland-based industry research firm.

    Combined demand for residential garage and commercial overhead doors is forecast to increase 4.5% per year to $3.6 billion in 2022. The market will benefit from a number of positive trends, including:

    • healthy growth in new single-family housing construction and home improvement spending
    • solid gains in commercial building construction and…

    Read more at www.prnewswire.com

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