Pune, India, Dec. 29, 2021 (GLOBE NEWSWIRE) -- The global floating dock market is expected to value at USD 465 million in 2021 and is expected to grow at a CAGR of 4.60% during the forecast period, as per a detailed market study by Quince Market Insights. Floating docks are part of dock systems that can sink to the desired depth by allowing a cargo or vessel to cruise in and anchor near the doorway. Because the floating docks are positioned on the water, they help to eliminate the need for tying dock systems at the harbor. Frame, float, and dock are the three components that make up floating docks. Dock is the top portion of the construction that provides support to the user. The deck's frame offers structural support. By replacing the foundation or bridge abutments, floats provide buoyancy to keep the building afloat.
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Increasing marine construction activities and marine projects throughout the world will have a favorable impact on the market over the projected period. Increased ship repair and maintenance operations throughout the world will boost market growth over the projected period. In comparison to new building, ship manufacturers regard ship maintenance and repair to be the preferred alternative for profit. Floating docks are used by ship repair facilities because they can successfully accommodate and service large marine vessels. Favorable advances in the ship repair business, aided by supportive investments, would create a huge need for floating docks in the next few years.
On the other hand, the market's rigorous laws may have an impact on the floating dock market's growth throughout the projection period. To avoid harming the aquatic and marine ecology, market participants must get permissions before beginning to manufacture the floating dock. Not only that, but the use of dangerous chemicals that can destroy the marine ecology, which is subject to tight regulations.
COVID 19 Impact on the Global Floating Dock Market
The COVID 19 epidemic has prompted the floating dock market to halt operations, which has had a direct influence on its growth. A stop in the production of materials used in construction has resulted in a lack of raw resources. Aside from that, no fresh consignments are received by the firms in this industry. As a result, enterprises that have been ordered to resume operations have been unable to do so owing to a scarcity of raw materials.
Global Floating Dock Market, by Type
Based on type, the global floating dock market is segmented into concrete floating dock, wood floating dock, metal floating dock, plastic floating dock, and others. Among these, wood floating dock segment is witnessing the fastest growth mainly due to its cost effectiveness. These decks are far less expensive than their competitors, and they're easy to set up and maintain. Decking is commonly made of pine, cedar, redwood, cypress, and other woods. Decks made of untreated wood are more susceptible to deterioration, whereas treated decks last longer. A number of preservatives, such as copper azole, alkaline copper quat (ACQ), and others, are used to treat wood.
Global Floating Dock Market, by Application
Based on application, the global floating dock market is segmented into residential, commercial and others. Among these, commercial segment is projected to witness the fastest growth. Marinas, campers, resorts, restaurants, hotels, and housing complexes are increasingly adopting these. As a result of substantial present and potential marina infrastructure development projects, floating docks are expected to be offered in the future. Furthermore, in the next years, the rising marine tourist business will give considerable market development opportunities.
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Global Floating Dock Market, by Region
Based on region, the global floating dock market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America. Among these, North America is anticipated to hold the largest market share. The increase in shipbuilding activities in this area will be a major driver. Many governments in this region are pouring money into the shipbuilding sector and adopting policies to encourage it to grow. In the foreseeable future, a surge in shipyard construction projects will facilitate the spread of floating docks.
Some Significant Market Developments Considered in the Report:
- September 2018: Meeco Sullivan (U.S.) purchased Wahoo Docks (US), a significant North American manufacturer of high-quality aluminium residential floating dock systems. The company's position in the North American market will be strengthened as a result of this acquisition.
- May 2017: Bellingham Marine (US) had expanded its product range to include fibre reinforced pultruded plastic components, which may be used to replace timber walers and steel thru-rods on concrete floating docks.
Some Major Findings of the Global Floating Dock Market Include:
- Profiles of major market players operating in the global floating dock market include Bellingham Marine (U.S.), Marinetek (Finland), Wahoo Docks (U.S.), EZ Dock (Sweden), Walcon Marine (U.K.), SF Marina Systems (Sweden), Ingemar (Sweden), Flotation Systems (U.S.), Technomarine Manufacturing (U.S.), Botongna (Italy), Metalu Industries International (France), Jet Dock (U.S.), Dock Marine Systems (U.S.), Accudock (U.S.), Meeco Sullivan (U.S.), MARTINI ALFREDO SPA (Europe), Livart (Canada), Pontech (Italy), CUBISYSTEM (Italy)
- Impact of COVID-19 on the global floating dock market.
To know more on this topic, please check report titled, “Floating Dock Market, By Type (Concrete Floating Dock, Wood Floating Dock, Metal Floating Dock, Plastic Floating Dock, Others), By Application (Residential, Commercial, Others), By Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America)” in-depth analysis along with the table of contents (ToC).
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