New York, June 06, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Docks Construction Global Market Report 2023" - https://www.reportlinker.com/p06464107/?utm_source=GNW
, Transpac Marinas Inc., Obrascón Huarte Lain SA, Candock, and PMS Dockmarine.
The global docks construction market is expected to grow from $9.87 billion in 2022 to $10.29 billion in 2023 at a compound annual growth rate (CAGR) of 4.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The docks construction market is expected to reach $10.55 billion in 2027 at a CAGR of 0.6%.
The docks construction market includes revenues earned by entities by constructing pile docks, pipe docks, crib docks, suspension docks, aluminum docks, and plastic docks.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Dock construction refers to the building of a structure that is built out over the water in a port along which ships can land to load and unload or the enclosed area of water between two such structures. They are used to provide access to water for watercraft.
North America was the largest region in the docks construction market in 2022. The regions covered in the docks construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main materials of docks construction are wood, metal, plastic and composites and concrete.Wood refers to the dense, fibrous material that makes up the majority of a tree or shrub’s stem and branches and lies beneath the bark.
The various operations involved are conventional and automatic which are used for residential, commercial, industrial, and institutional applications.
Increasing maritime shipping is expected to propel the docks construction market going forward.Maritime shipping refers to the transportation method that uses water to move products from one location to another.
Pre- and post-shipping operations for the transportation of goods and people are included in maritime shipping.Docks are used for repairing and cleaning a ship and loading and unloading cargo in maritime shipping, so an increase in maritime shipping will propel market growth.
For instance, in 2021, according to the United Nations Conference on Trade and Development, a Switzerland-based intergovernmental organization that promotes the interests of world trade, global maritime shipments increased by an estimated 3.2% to reach 11 billion tons and Asia was the leading maritime cargo handling center, which accounted for 42% of goods loaded and 64% of those unloaded in 2021. Therefore, the increasing maritime shipping is driving the docks construction market.
Product innovations are a key trend gaining popularity in the docks construction market.Major companies operating in the docks construction market are focused on developing new innovative products to strengthen their market position.
For instance, in October 2022, Paradise Dock & Lift Inc., a Canada-based manufacturer of high-quality modular docking systems, launched the Hydraulic Boat Lift, a uniquely designed boat lift with capacities ranging from 2,000 to 20,000 pounds and the highest quality with robust features. It has a remote-controlled operation and operates with an independent, solar-charged power pack. It is made of heavy-duty, marine-grade aluminum with a 4?, 5?, or 6? lifting range.
In December 2022, MarineMax Inc., a US-based recreational boat, and yacht retailer that offers exceptional dock service and storage facilities acquired Midcoast Construction Enterprises LLC for an undisclosed amount. Through this acquisition, MarineMax will combine its resources with those of Midcoast to strengthen and expand its marina portfolio and service offerings by adding valuable skillsets and enabling MarineMax to manage construction needs of the market. Midcoast Construction Enterprises LLC is a US-based full-service marine construction company building residential docks and seawalls.
The countries covered in the docks construction market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The docks construction market research report is one of a series of new reports that provides docks construction market statistics, including docks construction industry global market size, regional shares, competitors with docks construction market share, detailed docks construction market segments, market trends, and opportunities, and any further data you may need to thrive in the docks construction industry. This docks construction market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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