Dublin, Oct. 04, 2023 (GLOBE NEWSWIRE) -- The "Saudi Arabia Automatic Garage Door Operator Market - Focused Insights 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The Saudi Arabia automatic garage door operator market will be valued at around $31.50 MN in 2022
This comprehensive report offers a detailed insight into the adoption of garage door operators in Saudi Arabia. Explore the diverse product preferences that cater to regional variations and the Saudi Arabian market's unique choices. Leading players in the industry are strategically navigating the market landscape through agreements, acquisitions, and collaborations with emerging entities, facilitating the introduction of commercially viable garage door operator solutions.
Building a Brighter Future
Saudi Arabia's commitment to tourism, entertainment, and economic diversification has ignited global interest. The burgeoning construction industry, with the government's Vision 2030 initiative as its driving force, has become a focal point for international investors. Beyond oil, the government aims to strengthen infrastructure and extend affordable housing to the population.
With ambitious goals to provide 650,000-750,000 housing units by 2025 and achieve a 70% home ownership rate by 2030, Saudi Arabia anticipates an upsurge in housing demand. This, in turn, is expected to bolster the market for automatic garage doors, supporting sustained growth in the foreseeable future.
Parks, Recreations, and Market Opportunities
In 2022, Saudi Arabia unveiled plans to construct King Salman Park, set to become one of the world's largest city parks. Covering a vast expanse of nine million sq. m. with a remarkable 850,000 sq. m. golf course, such projects signal substantial growth prospects for commercial garage door operator providers.
Riyadh: A Hub of Possibilities
Riyadh, the capital of Saudi Arabia, has transitioned into a leisure destination while maintaining its corporate appeal. The city's burgeoning recreational and entertainment ventures are poised to boost tourism activities. This rise in travel and tourism is expected to propel the demand for automatic garage doors, particularly in hotels, throughout the forecast period.
Urbanization and Infrastructure Momentum
Saudi Arabia's rapid urbanization and infrastructure development have catalyzed residential and commercial construction projects, driving the demand for automatic garage doors. Enhanced living standards and increased disposable incomes have prompted more families and individuals to opt for automated garage door systems, enhancing convenience and security.
The country's construction sector is thriving, with approximately $298 billion in real estate projects under construction in 2023. Intelligence firm ABiQ predicts a 9% growth in Saudi Arabia's real estate construction market, reaching $324 billion. With a surge in infrastructural developments, renovations, and replacements, the automatic garage door operator market in Saudi Arabia is poised for substantial growth in the coming years.
LIST OF VENDORS
Key Vendors
- Chamberlain Group
- Hormann
- Overhead Door Corporation
- ASSA ABLOY
- Raynor Garage Doors
Other Prominent Vendors
- Somfy
- SOMMER Group
- CAME
- Nice
- DoorHan Group
SEGMENTATION & FORECAST
Product Type (Revenue)
- Screw Driven
- Chain Driven
- Belt Driven
- Others
Sensor Type (Revenue)
- Infrared Sensor
- Photoelectric Sensor
Controller Type (Revenue)
- Wi-Fi
- Bluetooth
Installation Type (Revenue)
- New Construction
- Replacement
Distribution Channel (Revenue)
- Offline
- Online
End-user (Revenue)
- Residential
- Commercial
MARKET STRUCTURE
- Market Dynamics
- Competitive Landscape of Saudi Arabia Automatic Garage Door Operator
- Key Vendors
- Other Prominent Vendors
For more information about this report visit https://www.researchandmarkets.com/r/6au0vi
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