Dec 23rd, 2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Gate Openers Market.
The Gate Openers market is projected to grow from USD 841.3 million in 2020 to USD 1042.7 million by 2026 at a CAGR of around 3.7% during the forecast period.
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.
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Gate Openers Market Share: By Type Trends
By type, the gate openers market has been bifurcated into academic resident, commercial, industrial and others.
Under these, the commercial segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period.
The market growth can be attributed to increasing use of gate openers in commercial buildings such as malls, offices, and shopping complexes among others.
Gate Openers Market Share: By Region
By region, the market in Asia-Pacific accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period.
The regional growth can be attributed to increasing adoption of smart houses and rising security threats in the developing countries such as China and India.
The market in North America is expected to register steady growth during the review period.
COVID-19 Impact on Global Gate Openers Market
Covid-19 outbreak impacted the growth of the bearing for steel market negatively. The spread of coronavirus led to enforcement of lockdown to curb the spread of virus. This led to travel restrictions and supply chain disruptions, which in turn affected the product availability on time.
Key players operating in the Gate Openers market are-
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).
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Features of the Report:
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Gate Openers Market analysis report discusses the following heads in great detail:
· Market structure: Overview, industry life cycle analysis, supply chain analysis
· COVID-19 Impact Assessment
· Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
· Market trend and forecast analysis
· Market segment trend and forecast
· Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
· Attractive market segments and associated growth opportunities
· Emerging trends
· Strategic growth opportunities for the existing and new players
· Key success factors.
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