North America Docks Market Size, Share, Trends, Growth 2030

Report Description

North America Docks Market Outlook

The North America Docks Market size was valued at USD 337.3 Million in 2020 and is projected to reach USD 484.8 Million by 2028, expanding at a CAGR of 4.6% during the forecast period.

A dock is constructed for hauling boats or ships onto the shore. These formations are also used for loading or unloading passengers and goods. Docks differ in size. Small docks comprise a wooden plank that runs into the water, where boats are pulled up and tied or anchored.
 

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Large docks in harbors have gates enclosing areas of water where ships are repaired or cargo is unloaded. When boats land, they are pulled up to a dock or a pier. Numerous types of docks include standing wheel-in, standing sectional, and floating docks. 

All types of docks have their benefits for waterfront private property owners and industrial dock owners wanting to get the most out of the marine or any other water body’s shoreline. Some docks work well in shallow water, while others accommodate a rocky bottom, and some others require extra help for installation. Docks are constructed from different materials such as wood, plastic, aluminium, and concrete.

Scope of North America Docks Market Report

The report on Docks Market includes an assessment of the market, size, share, trends, segments, and country markets. Overview and dynamics have been included in the report.

North America Docks Market Dynamics

Increasing Disposable Income

Demand for docks is driven by increasing disposable income across North America. Enthusiasts of water sports and leisure boats are increasingly opting for docks. Factors such as rapid growth in the economy, rising standard of living, and increasing adoption of luxurious lifestyles are propelling the demand for docks.

Manufacturers of docks are focusing on research & development activities to improve product offerings and features of their products, which is driving the demand for docks. Hence, the growing need for docks is anticipated to drive the market during the forecast period.

Wide Customization Leverage of Docks

Docks are customized according to required specification, installation, and cost in the desirable range according to budget. The size and lift capacity of docks is increased or decreased at the time of installation depending on the requirement of the end-user. The outer body conventionally is made either of metal or wood.

Plastic and concrete docks are made available to end-users by manufacturers. Moreover, the option of standard-sized (4 feet to 8 feet are the most common sizes) floating docks made it easy to install a dock for residential users.

Expensive Maintenance of Docks

Every dock is built to face the continuously changing natural conditions such as changing water levels, sunlight, wind, and rains. Usually, docks are built using premium materials and components. This makes the maintenance of a dock costly and time-consuming.

Docks have sturdy materials, which makes even a simple change of parts a time-consuming and costly process, as it has to be done by experts. Replacing any component of these docks or painting it is costly, as it needs specific paint to protect it from rust and decay. High maintenance costs restrain the growth of the docks market.

Eco-friendly Docks

Government in North America are raising awareness about the environment by taking initiatives to reduce contamination of water bodies caused by paints and materials used in docks. These factors are driving people to adopt eco-friendly docks, which are made from sustainable materials such as wood.

Using less toxic paints help protect aquatic life. Government in the region are encouraging the use of eco-friendly materials for building docks, which in turn, is expected to fuel the demand for eco-friendly docks during the forecast period.

North America Docks Market Segment Analysis

Based on types, the market is segmented into fixed docks and floating docks. The floating docks segment is expected to hold a large share of the market and is projected to expand at a high CAGR during the forecast period, as these floating docks are low in maintenance and easy to install.

Furthermore, they move along with high and low tides, which helps with easy docking of the boat, making them a popular option in coastal parts. The fixed docks segment is expected to create significant growth opportunities in the near future, as they are sturdy and last longer than floating docks in extreme weather conditions.

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Based on Installations, the market is fragmented into Commercial and Residential. The commercial docks segment is expected to hold a large share of the market and is projected to expand at a high CAGR during the forecast period, as these docks are installed on a large scale. Places such as hotels, resort owners, and dock rentals install these docks covering large areas on the shores of water bodies such as oceans and lakes.

The residential docks segment is expected to create significant growth opportunities in the near future. Increasing disposable income of people and high expenditure on luxury boats are boosting the demand for residential docks.

Regional Analysis

Based on countries the market is segmented into the US, Canada, and Caribbean Islands. The US is expected to hold a key share of the market, followed by Canada. Moreover, the market in the country is projected to expand at a high CAGR during the forecast period, owing to the rising expenditure of people on leisure boats.

An increasing number of waterfront hotels and resorts rising demand for boat docking spaces are expected to propel the market in the coming years. Implementation of regulations relating to dock installation and management and environment management is anticipated to drive the market.

The market in Canada is expected to create opportunities in the near future, as the number of private residential properties having docks is increasing rapidly in the country. Additionally, growth in tourism in the country is expected to boost the demand for commercial docks during the forecast period.

Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the North America Docks Market
• Historical, Current and Projected Market Size in terms of Value and Volume
• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
• Industry Drivers, Restraints and Opportunities Covered in the Study
• Recent Industry Trends and Developments
• Competitive Landscape & Strategies of Key Players
• Neutral Perspective on North America Docks Market Performance