Newark, NJ, Feb. 26, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global floating docks market is expected to grow from USD 390.6 Million in 2018 to USD 567.8 Million by 2026 at a CAGR of 4.8% during the forecast period 2019-2026. Increasing marine and offshore activities for recreation, adventure, commercial, and development purposes has increased in the number of private ships, yachts, and boats, leading to growth of floating docks market. Ease of accessibility and safety provided by floating docks is another factor fuelling the floating docks market.
A floating dock or dry-dock is defined as a part of a dock system which can submerge to a sufficiently adequate depth, enabling cargo or a vessel to coast in and be anchored in a position close to the entryway and push out the water. The proprietors do not need to tie up the dock systems at the harbourfront. Instead, they can put it on the floating dock. Floating docks are used for residential, commercial and industrial applications for ferry landings, fuelling cargos, helicopter landing pads, and others. Moreover, they are also used for the repair or maintenance of large cargo tankers, carriers or icebreakers.
The surge in marine and offshore events for recreation, adventure, commercial, and development purposes has increased in the number of private ships, yachts, and boats, leading to growth of the market. Ease of availability and safety provided by floating docks is another factor driving growth. The difficulty for loading and unloading of heavy material on floating docks is restraining the growth of floating docks and drive-on boat lifts market. However, these docks are replacing old dock systems which is expected to stimulate the market demand for the same in coming years.
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Key players operating in the global floating docks market include AccuDock, Basta Boatlifts, Bellingham Marine, Candock, Carolina Waterworks, Inc. (Safe Haven), Cubisystem, Dock Blocks, EZ Dock, Flotation Systems Inc., HydroHoist Marine Group, Ingemar, JetDock Systems, Inc., Jetfloat, MariCorp, Marine IP Ltd. (VersaDock), Marinetek, Martini Alfredo, Meeco Sullivan, PMS Dockmarine, Pontech, SF Marina Systems, Shenzhen Blue Ocean Engineering Co., Ltd., Sunstream Boat Lifts, Technomarine, Wahoo Docks, and Walcon Marine Ltd among others. To enhance their market position in the global Floating Docks market market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
- For instance, in January 2019, Berthon Boat Company in the UK has expanded its activities with the acquisition of Marine IP, which trades under the name of VersaDock, for an undisclosed sum. Berthon used its Lymington Marina Ltd subsidiary to make the purchase.
- Leaders are providing better opportunities and continuously focused on new product developments and venture capital investments to capture market share. For instance, in October 2018, Meeco Sullivan’s parent company, Tuckahoe Holdings acquired a majority ownership interest in Wahoo Docks. Wahoo Docks is a supplier of aluminum floating dock systems. The acquisition of Wahoo Docks expanded Meeco Sullivan’s line of products, which includes galvanized steel and timber floating dock systems.
The commercial segment is dominating the market with the highest share of 42.30% in 2018
The application segment is segmented into residential, commercial and industrial. The commercial segment is dominating the market in 2018. Commercially docks are important in waterfront businesses, as it provides long-term property value for the owners and offers convenience for customers. Floating docks are a budget-friendly and highly economical alternative for the dock owners who seek convenience. They provide convenience, especially in areas where the water level fluctuates. Modular composite docks have made installation and customization easy thus boosting the growth of the market.
Metal floating docks segment dominated the market and valued around USD 199.98 Million in 2018
The type segment is segmented into concrete floating docks, metal floating docks, wood floating docks and plastic floating docks. The metal floating docks segment is dominating the market with the highest share in 2018. High durability and corrosion resistant properties of metal floating docks keep them dominant over the other types of floating docks and drive-on boat lifts market. In metal floating docks, the aluminum docks are most popular in use, owing to its lightweight and high resistance features. Unlike other metals such as steel, it is heavy and much more susceptible to corrosion.
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Regional Segment Analysis of the Floating Docks Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America region dominated the global floating docks market with USD 157.02 Million in 2018 where as the Asia Pacific region is growing rapidly in the market. North America is dominating the market due to the rising waterfront businesses. Highly developed shipping industry and growing use of floating docks in marine securities are propelling the growth of the market. The metal floating dock segment is expected to dominate the U.S. market over the forecast period. The Asia Pacific region is anticipated to grow rapidly due to the growing waterfront campgrounds, and government agencies, such as the parks department thus positively contributing to the growth of the floating docks and drive-on boat lifts market in the Asia Pacific.
About the report:
The global floating docks market is analysed on the basis of value (USD Million), volume (Thousand Units), consumption (Thousand Units), imports (Thousand Units) and exports (Thousand Units). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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