Pune, India, March 23, 2022 (GLOBE NEWSWIRE) -- The global Gate Openers Market size was USD 2.41 billion in 2020. The market is expected to grow from USD 2.49 billion in 2021 to USD 3.43 billion in 2028 at a CAGR of 4.6% during the forecast period. Rising infrastructure development, redevelopment, renovations, and development of high-end and innovative solutions may propel the market growth. Fortune Business Insights™ provides this information in its report titled “Gate Openers Market, 2021-2028.”
Gate openers are locks that open and close gate. They are available in automatic and manual options. Further, the rising demand for security features in infrastructure facilities is expected to boost market development. Moreover, the increasing development of innovative high-end solutions is expected to boost product sales. These factors may boost the market growth in the coming years.
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Companies Profiled in the Report
- Assa Abloy AB (Sweden)
- Allegion (Ireland)
- Somfy (Cluses, France)
- Came S.p.A. (Italy)
- FAAC SPA (Italy)
- Chamberlain Group (CGI) (U.S.)
- dormakaba Group (Switzerland)
- GEZE GmbH (Germany)
- NICE Systems Ltd. (Israel)
- Honeywell (U.S.)
- Overhead Door Corporation (U.S.)
- Legrand (France)
- Zhejiang Xianfeng Machinery Co., Ltd. (China)
- TISO Group of Companies (Ukraine)
- PILOMAT s.r.l. (Italy)
- S M Dooromatics (India)
- Proteco Srl (Italy)
- Macs Automated Bollard Systems Ltd (U.K.)
- RIB Srl (Italy)
- Gandhi Automations Pvt Ltd (India)
- CASIT srl (Italy)
- Skylinkhome (Canada)
COVID-19 Impact
Changing Global Construction Scenarios to Impede Market Development
This market is expected to be negatively affected during the pandemic due to global construction scenarios. The sudden spike in COVID patients led to stringent lockdown norms, affecting global construction activities. Furthermore, lack of manufacturing may lead to raw material shortage. However, the adoption of production machinery and social distancing norms may propel the market development during the pandemic.
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Report Scope and Segmentation:
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 4.6% |
| 2028 Value Projection | USD 3.43 billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 2.49 billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 120 |
| Segments covered | By Product Type, Application, Region |
| Growth Drivers | Safe and Secured Mode of Operation and Extensive Reduction in Operational Cost to Boost Gate Openers’ Installation |
| Pitfalls & Challenges | High Initial Cost Involved in Purchase and Installation is anticipated to Curb Market Development |
Segments
Product Type, Application, and Region are studied
By product type, the market is segmented into linear ram, underground, articulated ram, sliding, and others. Based on application, it is classified into residential, commercial, industrial, and others. Regionally, it is grouped into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
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Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and strategies undertaken by the market's key players.
Drivers and Restraints
Reduced Operational Costs and Secured & Safe Operation Mode to Boost Market Growth
Gate openers provide consumers with complete control of the opening and closing of a gate. It eliminates security personnel requirements and the entry of vehicles inside the premises. The opener is powered to receive notifications on tablets, smartphones, and laptops. It allows people to enter infrastructures and permits operators to maintain timely data regarding exit and entry of people. Furthermore, reduced chimney cleaning expenditure and easy installation are expected to boost the product adoption. Moreover, rising redevelopment projects lead to effective gates' adoption, thereby increasing sales. These factors may propel the gate openers market growth.
However, high installation and purchase costs associated with the product are expected to hinder the market progress.
Regional Insights
Introduction of Advanced and Customizable Gates to Propel Market Growth in Asia Pacific
Asia Pacific is expected to dominate the gate openers market share due to the introduction of advanced and customizable gates. The market in Asia Pacific stood at USD 0.81 billion in 2020 and is expected to grow positively during the pandemic. Further, adopting reliable and automated operations might strengthen sales. These factors may propel the market development.
In Europe, strong demand for automated and electric gate openers and the incorporation of smart features are expected to boost the product adoption. Furthermore, reduced imports and exports regarding the product are expected to foster the market growth.
In North America, rising security consultation organizations and increasing gate installations may foster industry progress.
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Competitive Landscape
Companies Engage in Development of Innovative Products to Generate Market Opportunities
The prominent companies operating in the market develop innovative products to attract consumers and generate remunerative market opportunities. For example, Somfy developed and manufactured a closing and opening automation operation in the commercial infrastructure and residential sector. The company further announced that it successfully undertook 60% of stakes of Repar’stores. This strategy may enable the company to create lucrative market opportunities. Further, competitors adopt mergers, acquisitions, expansion, product launches, and partnership strategies to fuel competition.
Industry Development
- October 2021: Nice, a global smart home security manufacturer and automation solutions developer, acquired Nortek Security & Control, LLC to help the company reinforce its position as a leading market performer.
Table of Content:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Product Types
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19 on Gate Openers Market
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Forces Analysis
- Global Gate Openers Market Share Analysis and Matrix, 2020
- Key Market Insights and Strategic Recommendations
- Profiles of Key Players (Would be provided for 10 players only)
- Overview
-
- Key Management
- Headquarters etc.
- Offerings/Business Segments
-
-
- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Employee Size
- Past and Current Revenue
- Geographical Share
- Business Segment Share
- Recent Developments
- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Primary Interview Responses
- Annexure / Appendix
- Global Gate Openers Market Analysis, Insights and Forecast (Quantitative Data), By Segments, 2017-2028
- By Product Type (USD)
- Linear Ram
- Underground
- Articulated Ram
- Sliding
- Others
- By Application (USD)
- Residential
- Commercial
- Industrial
- Others
- By Geography (USD)
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- South America
- By Product Type (USD)
- North America Gate Openers Market Analysis, Insights and Forecast (Quantitative Data), By Segments, 2017-2028
- By Product Type (USD)
- Linear Ram
- Underground
- Articulated Ram
- Sliding
- Others
- By Application (USD)
- Residential
- Commercial
- Industrial
- By Product Type (USD)
- Global Gate Openers Market Analysis, Insights and Forecast (Quantitative Data), By Segments, 2017-2028
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