Floating Docks Market: Global Industry Analysis and Forecast (2023-2029)

Floating Docks Market was valued nearly US$ 488.19 Mn. in 2022. Floating Docks Market size is estimated to grow at a CAGR of 6.8 % & is expected to reach at US$ 826.34 Mn. by 2029.
Floating Docks Market Overview:
Dry docks is also known as floating docks and dock components are nothing but they may sink to the necessary depth, allowing a vessel or cargo to coast in and be anchored near the entryway while forcing the water out. They eliminate the need for tying dock systems in the harbour because they may be installed on floating docks. They're used for a variety of things in commercial, industrial, & residential situations, such as cargo fueling, ferry landings, & helicopter landings. They were also responsible for the maintenance & repair of ships like carriers, icebreakers, & enormous cargo tankers.

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The increase in offshore & maritime activities for commercial, recreational, development, & adventurous objectives is likely to boost the growth of the floating docks market. Floating docks also provide safety & accessibility, which are significant qualities that are predicted to propel the floating docks industry forward. Furthermore, new government defence efforts, like the creation of floating docks for submarines & warships, are likely to assist the market's growth. The biggest hindrance that is expected to stifle market expansion during the forecast period is government rules for the conservation of the marine ecology. Manufacturers must obtain approval before beginning the building and installation of floating docks in order to avoid causing harm to aquatic & marine systems. Owners replacing obsolete docks with new floating docks are expected to generate fresh growth chances for the floating docks industry during the forecast period.

Major manufacturers in the floating docks market are using various growth strategies like strategic partnerships, collaborations, diversification of sales & distribution networks, & development of manufacturing capacity in order to gain a firm foothold in the industry. For example, in the year 2021, the US-based Meeco Sullivan purchased Wahoo Docks, a prominent North American manufacturer of high-quality aluminium floating dock systems. As a result of this acquisition, Meeco Sullivan was able to strengthen its position in the North American market. The innovative business development tactics of key industry players are likely to boost the growth of the floating docks market.

Numerous governments are investing heavily in the development of new floating docks for naval uses. The Indian Defense Ministry, for example, has granted $ 61 Mn for the New Floating Dock Project, which will be lowered into the Bay of Bengal in the year 2021. Larsen & Toubro, an Indian firm that developed & launched a Floating Dock (FDN-2) for the Indian Navy in the year 2021, was awarded the contract. This was L&T's first foray into naval shipbuilding. It's 185 meters long and 40 meters wide, and it's meant to dock Indian Navy submarines and ships up to 8000 tonnes in displacement. Various governments' new projects have the potential to propel the floating docks market forward during the predicted period.
Floating Docks Market Segment Analysis:
Floating docks, Metal floating docks, Wood floating docks, Plastic floating docks, & Others are the several types of floating docks available. By the end of 2029, the plastic floating docks segment is estimated to have a market share of xx %. This is because the usage of plastic in the manufacture of floats is becoming more common. Plastic floats are less expensive and lighter than other types of floating docks. Plastic floats provide a lot of benefits, including excellent UV resistance, rodent protection, & superior impact resistance, as well as strong chemical resistance & operational efficiency; as a result of these benefits, they are widely used in floating docks.

Number of floating dock investments in Turkey :

During the forecast period 2022-2029, the metal floating docks segment is expected to develop at a CAGR of xx percent. Metal floating docks made of aluminium are the best. Many dock owners say that aluminium is the best decking material because it doesn't need to be maintained, doesn't rot, decay, warp, or twist, and can simply be cleaned as needed. Floating docks come in a variety of materials, with aluminium docks being particularly popular among dock owners. Aluminum boat docks are popular because of its adaptability, which allows them to respond quickly to changing water levels and conditions.

The market is divided into Residential, Commercial, Industrial, & Other segments based on the application. During the forecast period 2022-2029, the commercial segment is expected to grow at a CAGR of xx percent. This is because the number of marine firms is increasing. Floating docks are used by restaurants, hotels, resorts, housing projects, and campers for a variety of purposes.
Floating Docks Market Regional Insights:
During the forecast period 2022-2029, the North American region is expected to lead the Floating Docks Market. By 2029, North America is expected to have the biggest market share, with xx percent. Throughout the U.S & Canada, there are numerous small boats, yachts, and commercial vessels. The ability of floating docks to replace antiquated dock systems, as well as their accessibility and safety, are propelling market expansion in North America. These are the elements that are expected to propel the North American region's growth in the Floating Docks Market from 2022 to 2029.

During the forecast period 2022-2029, the APAC region is expected to grow at a CAGR of xx percent. This is attributable to the rapidly expanding shipbuilding sector in the region. Countries in the APAC region, like South Korea, China, & Japan, have shipbuilding centres. Many governments in this region are spending heavily in the shipbuilding industry, which is expected to offer promising market opportunities during the forecast period.

The objective of the report is to present a comprehensive analysis of the Floating Docks Market to the stakeholders in the industry. The past and current status of the industry with the forecasted Market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players which include Market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the Market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Floating Docks Market dynamics, structure by analyzing the Market segments and project the Floating Docks Market size. Clear representation of competitive analysis of key players by Type, price, financial position, Type portfolio, growth strategies, and regional presence in the Floating Docks Market make the report investor’s guide.
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Floating Docks Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 488.19 Mn.


Forecast Period 2022 to 2029 CAGR:
6.8%
Market Size in 2029:
US $ 826.34 Mn.


 Segments Covered:
by Type
• Floating docks
• Metal floating docks
• Wood floating docks
• Plastic floating docks
• Others


by Application
• Residential
• Commercial
• Industrial
• Others



Floating Docks Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Floating Docks Market, Key Players are:
• Meeco Sullivan
• Bellingham Marine
• Jet Dock Systems, Inc.
• Abu Dhabi Ship Building (ADSB)
• OHL (Obrascón Huarte Lain, S.A.)
• Marinetek
• Walcon Marine
• TTS Group ASA
• Damen
• AccuDock
• MariCorp U.S.
• Candock
• EZ Dock
• PMS Dockmarine
• Martini Alfredo

Frequently Asked Questions:

1. Which region has the largest share in Global Floating Docks Market?
Ans: North American region held the highest share in 2022.

2. What is the growth rate of Global Floating Docks Market?
Ans: The Global Floating Docks Market is growing at a CAGR of 6.8% during forecasting period 2023-2029.

3. What is scope of the Global Floating Docks Market report?
Ans: Global Floating Docks Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. What is the study period of this Market?
Ans: The Global Floating Docks Market is studied from 2022 to 2029.