Docks Market Size, Share & Trends Analysis Report By Material (Wood, Metal, Plastic & Composites, Concrete), By Frame Material (Wood, Metal, Plastic & Composites, Concrete), By Application, By Region, And Segment Forecasts, 2022 - 2030

Report Overview 

The docks market size was estimated at USD 1.62 billion in 2021 and is expected to witness a compound annual growth rate (CAGR) of 3.4% from 2022 to 2030. The market is driven by the rising structure demand as the governing bodies of various economies are conducting redevelopment of waterfronts to maximize their value for both business and community. Due to the extended lockdown in major nations such as the United States, China, Japan, India, and Germany, the breakout of COVID-19 resulted in the partial or entire shutdown of non-essential product manufacturing facilities. In most industrial units throughout the world, this resulted in the closure or suspension of their manufacturing activity.

Due to lockdown and labor shortages, the coronavirus epidemic impacted the supply chain, delaying deliveries of raw materials from yards.  Across the globe, industries are being shut down. People's purchasing power is decreasing, which has a direct effect on the market, reducing demand for docks and restricting industrial growth. The U.S. dominated the North American docks market and accounted for a revenue share of over 68.0% in 2021. This growth is attributed to the rise in the use of shipping for the movement of products and goods across regions. This increase in the movement of marine vessels has resulted in an increase in maintenance and repair work for ships and boats. This has helped in the increased use of floating docks, which has helped in the growth of the market.

Marine operations are one of the biggest recovering sectors after the effect of the COVID-19 pandemic over all sectors. According to the UNCTAD report, 2021 marine operations including assembling, transport, docking and installation of ships have increased by 4.3% in 2021 which witnessed a decline of 3.8% in 2020. This decline has impacted the demand for the market. This docks material also requires constant ongoing maintenance and upkeep which is time-consuming and costly. Thus, plastic or composite materials have emerged as a better alternative for wood, as they are more robust, lightweight, and adaptable. In addition, these materials do not rust, dent, or warp and also withstand extreme weather conditions resulting in larger market share for plastic and composite. 

Frame Material Insights 

The metal frame segment led the market and accounted for more than 52.0% of revenue share in 2021. The metal segment is anticipated to see a boom in the market, over the forecast period, owing to the increasing demand for aluminum frame docks in the market. Docks with aluminum frame are highly preferred by lakefront home or business owner as it offers strength as well as improve the aesthetic profile of the property where the docks are installed.

The concrete frame segment is projected to register a CAGR of 2.9% in terms of value over the forecast period. The concrete docks frames offer exceptional structural strength and durability thus exhibiting the capability to withstand a significant marine load. Thus, these structures are used in a variety of harbor and marine applications, especially in the Asia Pacific market. The plastic and composites frame segment is one of the fastest-growing product segments on account of its high demand in the market. Plastic or composite frame docks are emerging as suitable alternatives for wood-based docking frames, as the materials offer better resistance to rot. High-density polyethylene floatation framework offers excellent strength, superior buoyancy, and stability.

Wood is the second most used material for the fabrication of docks frame, accounting for over 30.0% of the total market. This material is preferred more for frame fabrication in North America and Europe docks markets when compared with the Asia Pacific market owing to the aesthetic benefits offered by the material.

Material Application

The wood material segment is expected to witness a CAGR of 2.8% over the forecast period. The demand for wood has been increasing in the market as it is the most conventional material used in building docks and is expected to maintain its dominance over the forecast period owing to the superior natural aesthetics offered by the same.

Metal material accounted for 7.9% of docks market share in 2021. Metals especially aluminum can be used for the manufacturing of docks, however, it is majorly used as a frame material and not used for other parts such as decking. Metals are least preferred for other parts of the docks as it gets corroded over time.

The plastic and composites material segment is expected to witness a CAGR of 4.6% over the forecast period. It is expected to grow at the highest rate as high-quality plastic docks do not dent, warp, or rust and offer superior resistance to extreme weather conditions when integrated with ideal anchoring hardware. These materials are also highly versatile. If a section of the docks gets damaged it can be replaced easily without dismantling the entire dock system.

The concrete material segment is expected to witness a CAGR of 3.4% over the forecast period. Concrete tiles or precast concrete is one of the major materials used in the decking of floating docks. Concrete floating docks offer exceptional strength and durability, thus offering resistance against significant impact which is increasing the market demand for concrete material.

Application Insights 

The residential application segment led the market and accounted for 10.0% of the market share in 2021. Floating docks have an increased preference for a set population living on waterfront property in developed economies. The extended floating structure outside the house enables house owners to indulge in various activities such as fishing, kayaking, boating, swimming, grilling, and several other recreational activities which are expected to boost the market demand during the forecast period.

The commercial application segment is projected to register a CAGR of 3.2% in terms of values over the forecast period. There are endless possibilities of commercial applications for floating docks, however, they are commonly used in settings such as waterfront resorts and marinas. Commercial application places for floating docks include custom-built fuel docks and ship stores. Commercial application is the dominant segment of the floating docks market.

The industrial application segment led the market and accounted for 25.5% of the market share in 2021. Floating docks are a practical and reliable solution for industrial work sites that demand water tasks. These docks structures can also be used as other floating equipment, work platforms, and material barges. These floating docks offer the safety of workers, and equipment against wear and slipping-related damages.

Institutional application is projected to register a CAGR of 4.3% in terms of values over the forecast period. Floating docks are one of the most preferred structures for various public properties such as parks and recreational centers. These structures are also used by town councils and municipalities for floating bridges and public marinas

Regional Insights 

North America region led the market and accounted for over 43.6% share of global revenue in 2021. This rise was attributed towards users indulging in outdoor recreational activities that incorporate social distancing due to the pandemic. The rise in the usage of products from aquatic produce has also helped in boosting of using marine channels. This has significantly helped in increasing the usage of the floating dock in the region.

The shipbuilding sector consists of large vessels used for economic and defense purposes and includes their production, conversion, and maintenance. The development and working of this sector are in lieu of the global maritime industry. There are 150 shipyards in Europe, out of which 40 are used in global trade. Europe handles about 6% in terms of tonnage of the global shipbuilding industry. Competition from players in the Asia Pacific region is a major threat to the industry in Europe.

As the demand for e-commerce increases globally, the need for transport routes, to reduce the demand and supply gap, has increased in the Asia Pacific region. The changing regulations regarding ship maintenance and health along with increased usage has led to an increase in maintenance and repair work for maritime vessels. This is expected to help the floating docks market in the Asia Pacific region.

Latin America’s maritime industry is facing a decline which has called for increased investments in the region to keep up with the global transport trends. In order to improve ports, shipbuilding, and dredging of ports, the region is expected to receive investments worth USD 55 billion over the course of time by 2040.

Key Companies & Market Share Insights 

The market participants are adopting various strategies to gain a competitive edge, and thus sustain the growing industry rivalry. Meeco Sullivan is a major player in the industry with a variety of docks. The company is indulged in mergers & acquisitions, as well as production capacity expansion strategies in order to gain a strong foothold in the market. The companies resort to multiple mergers and acquisitions in a bid to gain market share in a particular region. In some cases, the companies build technological collaborations for the production of an advanced product with superior performance characteristics to increase company revenues. Some of the prominent players in the docks market include:

• Bellingham Marine

• Marinetek

• Accudock

• Maricorp U.S.

• Pms Dockmarine

• Martini Alfredo

• Transpac Marinas Inc.

• Ingemar

• Meeco Sullivan

• Jet Dock Systems, Inc.

• Walcon Marine

• Candock

• Ez Dock

• Damen

• Great Northern Docks 

Docks Market Report Scope 

Global Docks Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global docks market on the basis of material, frame, application, and region:

• Material Outlook (Revenue, USD Million, 2017 - 2030)

  • Wood

  • Metal

  • Plastic & Composites

  • Concrete

• Frame Material Outlook (Revenue, USD Million, 2017 - 2030)

  • Wood

  • Metal

  • Plastic & Composites

  • Concrete

• Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Residential

  • Commercial

  • Industrial

  • Institutional

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • U.K.

    • France

  • Asia Pacific

    • China

    • Japan

    • South Korea

  • Central & South America

    • Brazil

  • Middle East & Africa

    • United Arab Emirates (UAE)