Gate Openers Market
Gate Openers Market Size, Share, Trends, Dynamics, Forecast & Growth Analysis - 2023-2028.
The global gate openers market size was estimated at USD 944.16 million in 2023 and is likely to grow at a CAGR of around 3.62% during 2023-2028 to reach USD 1128.31 million by 2028.
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Gate openers can be defined as a mechanical device which is used to open and close the gate of a residence, community, office, or industry. It is used to open or close the gate automatically or through a manual device or wireless transmitter. The different types of gate openers available in the global market include sliding gate opener, swing gate opener and others.
Key players operating in the Gate Openers market are-
The growth of gate openers market is primarily driven by increasing use of automatic gates in the residential and commercial spaces.
Rising number of malls, shopping complexes and stores is likely to propel the market growth at a significant rate during the review period. In addition to this, increasing adoption of advanced technologies such as internet of things is expected to create lucrative opportunities for the players operating in the global market in the coming years.
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The Internet of Things (IoT) and artificial intelligence have revolutionized infrastructure security and automation. With increasing internet penetration and high-speed connections, gate openers can open remotely. However, individuals need to connect to the internet and access door controls. ASSA ABOLY is working on integrating advanced technologies into its door-opening systems, offering a new high-end technology called Aperio. This technology aims to enhance security solutions and diversify the company's portfolio of entrance environments and door opening platforms.
The market's sales growth rate is hindered by the high initial cost and installation of automated openers. Advanced, high-tech gates with additional features are more expensive than conventional gates. Additionally, these gates require professional maintenance, adding to overhead operational costs. The use of electric power in automated gates can cause power failures, necessitating the need for an electricity backup generator, further increasing the initial installation cost. Therefore, the acceptance of advanced gates is influenced by these factors.
Surge in Demand for Automation and Convenience: The demand for automated solutions like gate openers is increasing in both residential and commercial sectors, driven by the desire for streamlined and comfortable living.
Smart Home advancements: The integration of gate openers with smart home systems and voice assistants offers a significant growth opportunity, providing convenience and security through phone or voice command.
Technological Developments: Developments in technology are enhancing the efficiency, reliability, and affordability of gate opener solutions, including solar-powered options, improved battery life, and cloud-based control systems.
Niche Market Diversification: The market is diversifying beyond traditional swing and sliding gates to include retractable, high-security, and pedestrian access control systems, generating new revenue streams.
Cost and Installation Charges: Complex installation processes and not offering cost-effective options can decrease market penetration. This can be solved by addressing initial installation costs and ongoing maintenance needs for potential customers.
Huge Competition and Price Pressure: The market is becoming increasingly competitive, with numerous manufacturers and brands vying for market share, potentially causing price pressure and challenges in distinguishing themselves.
Insufficient Power Supply and Infrastructure: A few gate openers may not be feasible in certain regions due to insufficient power supply or infrastructure, necessitating the development of alternative solutions or technology adaptation.
By application, the gate openers market has been bifurcated into academic resident, commercial, industrial and others.
By region, the market in Asia-Pacific accounted for the largest market share in 2022 and is projected to grow at a significant CAGR during the assessment period.
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The covid-19 outbreak posed significant challenges on the building & construction industry across geographies. It impacted the growth of the gate openers market negatively as imposition of lockdown and trade restrictions affected the product supply and demand amid pandemic.
Here is the list of the group of customers that the Gate openers market hopes to have the greatest opportunity to convert-
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The gate openers market is expected to witness an impressive growth of 3.62% CAGR in the coming years.
FAAC Group (Italy) The Nice Group S.p.A. (Italy), Chamberlain Group (The U.S), Nortek Security & Control (The U.S), DoorKing (The U.S), Elka-Torantriebe GmbH u. Co. Betriebs KG (Germany), Novoferm Group (Italy), Bisen Smart Access CO., LTD (China), Zhejiang Xianfeng Machinery Co., Ltd. (China), Assa Abloy AB (Sweden), Dalian Master Door Co., Ltd (China) and BX Shinsei Seiki Co.,Ltd. (Japan) are among the key players in the gate openers market.
The global gate openers market size is expected to reach USD 1128.31 million in the foreseeable future.
Increasing use of automatic gates in the residential and commercial spaces, rising number of malls, shopping complexes and stores are the factors driving the growth of gate openers market.
The commercial segment accounted for the largest market share in 2022 and is projected to register significant growth.
Gate openers distributors, Gate openers suppliers, Gate openers manufacturers, Logistics organizations, Government bodies are the target audience in the gate openers market.