Boat Davits Market to grow at a CAGR of 5.9% by 2031 | Anchorlift Technic, Atkins & Hoyle Ltd., Davit Master Corporation

New York, Global Boat Davits Market was valued at US$ 0.4 billion in 2021 and it is anticipated to grow up to US$ 0.6 billion by 2031, at a CAGR of 5.9% during the forecast period.

The global boat davits market report from Global Insight Services is the single authoritative source of intelligence on Boat Davits Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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The global boat davits market report from Global Insight Services is the single authoritative source of intelligence on Boat Davits Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

A boat davit is a device used on a ship to support, raise, and lower the boats. In other term, a boat davit is a launching and lifting system for jet skis, dinghies, and other boats. This device is used to lower an emergency lifeboat from the ships. A boat davit is usually a hydraulic operated slewing or pivoting davit designed for launching and recovering a fully-crewed rescue boat.

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Market Drivers and Trends

Marine transportation is one of the most effective modes of transportation due to its cost-effectiveness. For instance, according to the UNCTAD organization report, in November 2021, the global trade for merchandise goods increased in exports and imports. The value of world imports and exports of goods hit US$ 5.6 trillion in the third quarter of 2021. Moreover, maritime shipping is expected to continue covering most of the movement of goods over long distances in the coming years. Marine freight transportation increases due to traffic congestion in the Indian and Pacific Oceans trade lanes. Moreover, a surge in demand for maritime freight transportation has led to a rise in demand for maritime vessels.

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Global Boat Davits Market Segmental Overview

The report analyses the global boat davits market based on type, mode, material, application, and region.

Global Boat Davits Market by Type

Based on type, it is segmented into free fall davit, quadrantal davit, gravity roller track davit, and single pivot gravity davit. The gravity roller track davit segment is expected to have the largest boat davits market share in 2021. It consists of two arms which slide over two guides, various possibility of interfacing to ship's structure, manual browsing, can be used on open or recessed deck, use electrical winches, and suitable for all types of life/rescue boat. Due to the above factors, the gravity roller track davit segment is expected to receive the main market attraction resulting in market growth.

Global Boat Davits Market by Mode

Based on mode, it is segmented into passenger vessel, commercial boats, and others. The commercial boats segment is expected to dominate the market during the forecast period. The commercial boats are been used for multiple applications such as fire departments, harbormasters, and search & rescue operations. They have robust construction, speed, and efficiency. Due to these factors mentioned above, the commercial boats segment is expected to dominate the market during the forecast period.

Global Boat Davits Market by Material

Based on material, it is segmented into aluminum, steel, and composites. The composites segment is expected to be the largest segment in the boat davits market in 2021. The future of composite materials is an extremely promising one. Lightness, strength, durability, and ease of production mean that composites will play an increasing part in boat construction. Thus, the composites segment will likely hold a major market share in 2021.

Major Players in the Global Boat Davits Market

The key players studied in the global boat davits market are Anchorlift Technic (Norway), Atkins & Hoyle Ltd. (Canada), Davit Master Corporation (US), Hi-Tide (US), Olsson Mfg. Inc. (US), Spencer Carter Limited (UK), St. Croix Marine Products, Inc. (US), UMT Marine (US), Vanguarde Pte Ltd (Singapore), and Weaver Industries, Inc. (US).

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