Floating docks market analysis

Continuous shipbuilding activities to complement floating docks market forecast

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Growing need for ship construction stemming from rise in maritime transportation and marine projects is likely to favor floating docks market outlook. Increasing construction of marine vessels across the globe has augmented the demand for floating docks. Maritime transportation accounts for around 80% of global trade by volume. Industrial development, expanding population base, relaxation of trade barriers and lack of necessary road transport infrastructure are the key factors supporting international trade.Shifting trends across global trade and maritime activities will fuel shipbuilding activities in the future. The mounting demand for new marine vessels will positively impact associated business, including companies installing docks at shipyards for hauling marine vessels. Floating docks market size is forecast to exceed USD 440 million by 2026 globally.

Presently, floating docks industry is gathering commendable profits. However, stringent regulations imposed by regulatory bodies to reduce environmental impact may stall industry growth. Construction of these led to release of toxins or contaminants in the environment, which could potentially harm the marine ecosystem. Moreover, ban or prohibition on use of various harmful chemicals are further compelling manufacturers to alter and streamline their manufacturing process as per environmental standards.

To abide with regulatory laws, these manufacturers are supposed to conduct various expensive tests and procedures such as TCLP (Toxicity Characteristic Leaching Procedure) to check the environmental feasibility of floating docks. These tests will incur extra costs and increase overall production value.

Plastics & composite decks industry is expected to account for more than 15% of the total volume share over the analysis period. These decks are made by combining plastic and wood fibers. Plastics & composites deck offers a long service life and requires less maintenance. Also, these decks offer premium wood looks, enhancing the overall aesthetics.

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Concrete framing is primarily used for heavy duty marine projects and often provided with concrete floats and concrete decks owing to high strength requirements. Concrete frames segment will contribute over USD 15 million towards the floating docks industry share by 2026.

Metal floats are available in the form of tubes or drums and are commonly made of aluminum. The product offers various advantages such as long life, durability, operational capacity and exceptional strength. As per estimates, metal floating docks are expected to cross installation numbers of 6,500 units by 2026 worldwide.

Flourishing marine tourism creates huge potential for the residential segment over the next few years. The segment’s growth will be majorly influenced by increasing consumer inclination towards recreational activities. Key manufacturers of floating docks are Jet Dock Systems, Inc., Bellingham Marine, Meeco Sullivan, Obrascón Huarte Lain, S.A., Damen, Walcon Marine, Candock, PMS Dockmarine and AccuDock.

These manufacturers are adopting various organic and inorganic strategies such as merger & acquisition and capacity expansion to gain competitive edge over other industry players. Moreover, they are entering partnerships and collaborations to reinforce their market hold across different geographical landscapes.

Author Name : Aakriti Kakkar