The U.S. residential construction market is booming, and infrastructure investments have to innovate and create convenient solutions for their homes and economies.

The U.S. residential construction market is booming, with approximately 100 million existing homes and 1 million residential facilities being constructed every year. This robust growth in the construction industry is a significant driver of the garage door market. As new homes and facilities are built, the need for garage doors as an essential component of modern homes becomes inevitable. 

Garage doors not only provide security and functionality but also enhance the value of homes. As a result, homeowners are decisive in replacing their existing garage door systems with more durable and effective solutions to keep up with the evolving construction trends. Another factor contributing to the growth of the garage door market in the U.S. is the aging housing stock. More than 70% of U.S. homes are more than 20 years old, indicating a significant addressable market of 70 million units. As these homes age, the need for garage door replacements and repairs becomes more prevalent. 

This trend is driving the demand for garage door replacements, presenting a lot of opportunities for manufacturers in the market. 

Hurricane Ida, a category 4 storm that hit New Orleans in August of 2021, provides a striking example of the importance of resilience and the ongoing need for continued investment.  The power outages in the wake of Ida, as well as the Texas freeze in early 2021 that left roughly 10 million Texans without electricity and cost an estimated $155 billion nationwide, highlight the need to modernize the nation’s electric grid. One Department of Energy study finds that power outages cost the U.S. economy up to $150 billion annually. 

Without careful planning, these costs to the electricity grid will grow due to the increased frequency and severity of extreme events caused by climate change. Investments in electricity transmission can unleash the full potential of renewable energy by enabling more power to be delivered to urban centers from the windiest and sunniest parts of the country, and in turn, save households money and make the economy more resilient.

Over the past five years, states such as Florida, Georgia, Washington, California, and North Carolina have posted fast construction growth, expanding at annual average rates of 7.5%. 

This was driven in part by an increase in investment in mixed-use properties, which have created significant opportunities in sectors such as residential, commercial, infrastructure, and energy and utilities. In Florida, for example, the construction of mixed-use properties has been growing faster than in any other large US state. Other factors supporting this growth were corporate tax cuts as well as state and local authorities push to raise funds for public works and renewable energy projects via higher gas tax and user fees.

As the residential infrastructure continues to evolve, the garage door market is expected to grow further, providing homeowners with access to innovative and convenient solutions for their homes and economies. Our team is highly trained and really knowledgeable, we provide same-day service for any type of questions call us at (610) 750 – 9268