March 23, 2022 00:27 ET | Source: Fortune Business Insights Fortune Business Insights
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.
Get Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/gate-openers-market-103506
Companies Profiled in the Report
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.
Click here to get the short-term and long-term impact of COVID-19 on this market.
Please Visit: https://www.fortunebusinessinsights.com/gate-openers-market-103506
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.
Speak to Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/gate-openers-market-103506
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.
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.
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.
Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/gate-openers-market-103506
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.
Have a Look at Related Research Insights:
Mining Equipment Market Size, Share & COVID-19 Impact Analysis, By Type (Excavators, Loaders, Dozers, Motor Graders, Dump Trucks & Others), By Application (Coal Mining, Gas & Oil Extraction, Metal Ore Mining & Non-metal Mining), and Regional Forecast, 2021-2028
Soft Services Facilities Management Market Size, Share & Industry Analysis, By Service Type (In-house and Outsourcing), By Industry Vertical (Healthcare, Government, Education, Military & Defense, Real Estate and Others) and Regional Forecast, 2019-2026
Spring Energized Seals Market Size, Share & COVID-19 Impact Analysis, By Type (Continuous Contact Spring, Cantilever Spring, Helical Wound Spring, Elliptical Coil Spring, and Others), By Application (Oil & Gas, Aerospace, Medical, Semiconductor, and Others) and Regional Forecast, 2021-2028
Lawn & Garden Equipment Market Size, Share & COVID-19 Impact Analysis, By Equipment Type (Lawn Mower, Chainsaws, Cutters and Shredders, Trimmers and Edgers, and Others), By Power (Gas, Electric, and Manual), By End-use (Residential, Playgrounds, and Golf Courses), and Regional Forecast, 2021-2028
Steel Ingots Market Size, Share and Global Trend By Type (Stainless Steel, Mild Steel), By Application (Construction, Automotive & Aerospace, Energy, Engineering, Others), and Geography Forecast till 2022-2029
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Fortune Business Insights™ Pvt. Ltd.
LinkedIn: https://www.linkedin.com/company/fortune-business-insights
Facebook: https://www.facebook.com/FortuneBusinessInsightsPvtLtd
Twitter: https://twitter.com/FBInsightPvtLtd