The Gate Openers by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
According to The Business Research Company’s Gate Openers, The gate openers market size has grown strongly in recent years. It will grow from .55 billion in 2023 to .65 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to growing introduction of telescopic gates, growth in the construction industry and increasing incidences of theft.
The gate openers market size is expected to see strong growth in the next few years. It will grow to .06 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to increasing investments for home remodeling and renovation activities and rising infrastructure investment. Major trends in the forecast period include research and development for technological product advancements to gain a competitive edge in the market, focus on the launch of new products to provide durable and reliable security and focus on strategic acquisitions to improve their financial strength, strengthen their product portfolio and expand their geographical presence in the market.
The growing popularity of home automation is driving the growth of the gate opener market going forward. Home automation refers to the network of hardware, communication, and electronic interfaces that connects commonplace products over the internet, in which each item contains sensors and WiFi-connected to control the home via smartphone or tablet remotely. This speeds up mundane tasks, allowing the user increased comfort and convenience. Gate openers in home automation help with advanced control of gates conveniently in remote accessing such as in controlling the gates/garages while arriving or leaving and also to control access of visitors. For instance, according to FutureIoT, a Singapore-based IoT publication, in 2022 more than 54% of US households have at least one smart home gadget, making smart homes the norm due to ease of use, extreme convenience, and an increased sense of security. Additionally, the adoption rates of smart homes have reached 50% in the UK, 40% in Germany, and 38% in France. Therefore, the growing popularity of home automation is expected to propel the growth of the gate opener market.
The gate openers market covered in this report is segmented – 1) By Type: Sliding Gate Openers, Swing Gate Openers, Overhead Gate Openers 2) By Product Type: Linear Ram, Underground, Articulated Ram, Sliding, Other Product Types 3) By Application: Residential, Commercial, Industrial, Other Applications
Technological advancement is the key trend that is gaining popularity in the gate opener market going forward. Major companies operating in the market are focused on research and development for product advancements to gain a competitive edge in the market. For instance, in July 2022, LiftMaster, a US-based company operating in the designing and engineering of residential gate openers, commercial gate operators, and gate entry systems, introduced IHSL24UL, a heavy-duty slide gate operator for moving the largest and heaviest gates used in industrial and guarded industrial applications. IHSL24UL industrial operator is capable of sliding gates up to 5,500 pounds and 90 feet long. Additionally, IHSL24UL consist of heavy-duty driving systems and brushless DC motors which offers high push power with industrial robustness to satisfy the requirements of Class III & IV applications such as manufacturing, transportation, municipality, utility, and warehouse environments.
The gate openers market report table of contents includes: 1. Executive Summary 2. Market Characteristics 3. Market Trends And Strategies 4. Impact Of COVID-19 5. Market Size And Growth 6. Segmentation 7. Regional And Country Analysis ……… 27. Competitive Landscape And Company Profiles 28. Key Mergers And Acquisitions 29. Future Outlook and Potential Analysis
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ramacharitbrc Joined: July 1st, 2020 Articles Posted: 1,960
