Docks Market Growth: Rising Demand for Efficient Shipping Solutions Worldwide

Posted on 2024-11-19 by researchinsights in Internet & Online // 0 Comments

The global docks market, valued at USD 1.79 billion in 2023, is projected to grow at a CAGR of 3.5% from 2024 to 2030. This growth is largely driven by the increasing demand for waterfront structures as governments redevelop waterfronts to enhance their value for both community and business purposes.

Materials Used in Dock Construction

The primary materials used in floating dock construction include wood, metal, plastic, composites, and concrete:

Wood, a conventional material, is prone to issues such as warping, rot, splintering, and insect damage, requiring ongoing and costly maintenance.
Plastic and composite materials have emerged as superior alternatives due to their durability, lightweight properties, and resistance to rust, denting, or warping. Additionally, these materials can withstand extreme weather conditions, making them a preferred choice.

Recreational Boating and Coastal Infrastructure

The growing popularity of coastal regions as vacation destinations has spurred the development of marinas, private docks, and boating facilities. Recreational activities like boating, fishing, and water sports demand robust docking facilities and boat lifts for safe and convenient water access. This rise in tourism has directly increased the demand for these facilities to support a higher volume of boats and watercraft.

Gather more insights about the market drivers, restrains and growth of the Global Docks Market

One challenge facing the docks market is managing environmental conditions, dock operational states, and technical equipment manually. To address this, a Norway-based engineering firm has developed smart application software using IoT technology. This innovation employs sensors to monitor the real-time operating conditions of floating docks, providing data such as water levels and other parameters, thereby reducing accident risks.

Docks Market Regional Insights:

North America

North America led the global docks market in 2023, accounting for 44.2% of global revenue. This dominance is attributed to the high penetration of docks in residential and commercial sectors and the growth of recreational centers post-COVID-19.

United States: The U.S. was the largest contributor to the regional market, driven by the increased use of shipping for transporting goods, which has necessitated more dock maintenance and repair work.
Canada: Recreational boating is expected to grow due to higher disposable incomes and an increasing focus on lifestyle. Transport Canada reported a 75% increase in new boater licenses in 2021, highlighting growing interest in boating activities.

Europe

Europe’s docks market is influenced by its strong shipbuilding and recreational craft sectors in countries like Germany, the UK, Italy, and France. Regulatory frameworks by the European Commission have further propelled the industry.
Germany: Valued significantly in 2023, Germany’s maritime industry is a major player globally, with the Maritime Agenda 2025 focusing on innovations such as sustainable energy and digitization.

Asia-Pacific

The Asia-Pacific region is expected to grow at the fastest CAGR of 4.4%, led by economies such as China, India, Japan, and South Korea.

China: As the world’s largest shipbuilder, China’s dominance in shipping container production and support for maritime activities is expected to drive dock market growth.

Middle East & Africa

The docks market in the Middle East and Africa is anticipated to grow at a CAGR of 4.9%, driven by significant investments in port development and a thriving tourism and leisure maritime sector, particularly in the UAE.

Central & South America

Despite economic challenges, Brazil remains the largest developed market in the region. Government initiatives to stabilize the economy and enhance industrial opportunities have positively impacted the maritime industry, fueling dock market growth.

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