Sarasota, FL -- (SBWIRE) -- 05/09/2018 -- Report Brief
The report covers forecast and analysis for the floating docks and drive-on boat lifts market on a global and regional level.
The report includes the positive and the negative factors that are influencing the growth of the market.
Detailed information and the future opportunities about the market opportunities are discussed.
The revenue generated by the prominent industry players has been analyzed in the report.
The market numbers have been calculated using top-down and the bottom-up approaches.
The floating docks and drive-on boat lifts market has been analyzed using Porter's Five Forces Analysis.
The market is segmented on the basis of type and application, which in turn are bifurcated on a regional level as well.
All the segments have been evaluated based on the present and the future trends.
The report deals with the in-depth quantitative and qualitative analyses of the floating docks and drive-on boat lifts market.
The report includes the detailed company profiles of the prominent market players.
Market Summary
Floating dock is also known as dry docks. Floating docks were introduced in the 1990s, and acclaimed wide popularity due to its specifications and durability. Floating docks raise a vessel out of the water and serve as a dry dock. They are a submersible floating structure used for entry and docking of a ship and are also used for lifting the ship from the water for repairs. There are several types of floating docks in the market used for different applications. The metal and plastic floating docks are more in demand owing to their easy installation and durability.
Value
The global floating docks and drive-on boat lifts market was valued at around USD 350 million in the year 2016 and it is expected to reach approximately USD 470 million by 2024. The global floating docks and drive-on boat lifts market is expected to exhibit a CAGR of more than 3.5% between 2017 and 2024.
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Drivers and Restraints
Shipping is one of the most regulated industries in the world because of the high risks associated with it. The major factor driving the growth of floating docks and drive-on boat lifts market is the increasing preference for floating docks in the shipping industry. Floating docks are easy and quick to install, also completely adjusts to different water levels caused by seasonal variations, tides, floods, and other water moments. Moreover, the buyers get attracted by the specifications of floating docks such as pollution and ultraviolet resistant ability, adaptability, and easy maintenance thus fueling the market growth during the forecast period.
The difficulty for loading and unloading of heavy material on floating docks will majorly limit the growth of floating docks and drive-on boat lifts market during the forecast period.
Segmentation
Metal floating dock segment accounted for the largest market share in 2016 by type and is expected to dominate the market through the forecast period. Metal floating docks are used for heavy-duty commercial purposes as they provide a safe and non-slip surface. Metal floating docks are made up of steel, aluminum, and other types of metal. Aluminum docks are currently trending in the market, owing to its ability of superior stability, strength, non corrosion capability, performance, and longevity at competitive prices thus increasing the demand for the segment during the forecast period.
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Based on applications, the global floating docks and drive-on boat lifts market is dominated by the commercial segment. There is various commercial dock design available in the market that ranges from extensive public projects to lower-scale projects for small businesses including restaurants and other marine-based services. Very large projects can be designed to include a mixture of different styles and materials including composite woods, aluminum, and concrete. Increasing demand for floating docks for government municipals projects, community associations, marinas watercraft, and other commercial applications, will fuel the growth of the segment during the forecast period.
North America is anticipated to contribute the largest market share for the global floating docks and drive-on boat lifts market during the forecast period. The region leads the market by accounting for more than 35% of market share in 2016. It is anticipated to retain its dominance by the end of the forecasted period, owing to the increasing demand for docks and high adoption rate for customized docks for marine security. The Asia Pacific anticipates to be the most lucrative region for the global floating docks and drive-on boat lifts market, owing to the increasing waterfront businesses, increasing marine securities, and rising disposable income.
Industry Players
The report includes detailed profiles of the prominent market players that are trending in the market. The list of the players that are compiled in the report are 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..
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The prominent market players maintain the competitive edge in the global market by making investments in the mergers and acquisitions and by increasing their type portfolio. In October 2017, AccuDock invested in developing its rowing floating dock product line and will continue its expansion in professional and collegiate rowing events around the country and internationally.
Floating dock is a structure that can be submerged to permit the entry and docking of a ship and is also used for lifting the ship from the water for repairs, or alternatively, it can be referred as a submersible floating structure that can raise a vessel out of the water and serve as a dry dock. Docks are considered to be the best option to improve the functionality of an adjacent shoreline. There are various types of dock systems available in the market such as heavy duty, lightweight, and others, which is based on their utilization in the residential or commercial applications.
The market for floating docks and drive-on boat lifts is segmented by different types and applications. 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. The plastic floating dock holds the second largest market share in global floating docks and drive-on boat lifts market. Plastic floating docks are considered to be safe and provide easy drive-on mounting and dismounting, as they are made with molecular weight, high-density polyethylene, and with less gaps in docking systems making dock blocks safer and minimizes the possible injury. The plastic floating dock segment is expected to grow with the highest CAGR of 4.3% during the forecast period.
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Based on applications, the global floating docks market is dominated by the commercial segment. Commercially docks are important in waterfront businesses, as it offers long-term property value for the owners and provides 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 during the forecast period.
The floating docks and drive-on boat lifts market is growing at a rapid rate in the developed regions. North America dominates the floating docks and drive-on boat lifts market owing to the growing waterfront businesses in the region. Whereas the Asia Pacific is having a significant share in the floating docks and drive-on boat lifts market and is anticipated to grow at highest CAGR during the forecast period owing to the increasing 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.
The major market players in the floating docks and drive-on boat lifts market are 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.