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Docks Market Growth, Trends & Forecast Analysis 2024-2033
Docks Market Growth
According to The Business Research Company's, The docks market size has grown steadily in recent years. It will grow from $1.7 billion in 2023 to $1.77 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%. The growth in the historic period can be attributed to trade expansion, economic growth, increase in cruise tourism, infrastructure investment, environmental concerns.
The docks market size is expected to see steady growth in the next few years. It will grow to $2.12 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to global supply chain resilience, e-commerce expansion, urban planning and smart cities, rise in offshore renewable energy projects, climate change adaptation. Major trends in the forecast period include technological advancements, green initiatives, data analytics and connectivity, safety and security measures, modular and flexible designs, e-commerce impact.
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Market Drivers and Trends:
An increase in the movement of marine vessels is expected to boost the growth of the dock market going forward. Maritime vessels are items associated with the sea and ships. A dock is a superstructure placed alongside or at an angle to a navigable canal that allows a ship to stop alongside and receive or unload cargo. For instance, according to the Maritime Exchange records, a US-based non-profit trade association, 2,312 ships arrived at Delaware River port facilities in 2021, up from 2,195 in 2020. Overall, vessel calls increased by 5.3% in the region. Thus, an increase in the movement of marine vessels is propelling the dock market forward.
Technological advancements have emerged as the key trend gaining popularity in the dock market. Major docking companies are developing innovative technologies in order to strengthen their market position. For instance, in January 2023, Targus, a US-based company that offers universal docking solutions and tech accessories, launched the DOCK710 and DOCK720. The Dock 710 and Dock 720 are distinguished by their ability to enable four 4K screens or a single 8K monitor plus two 4K displays via a single USB-C cable, in addition to 100W PD, Fingerprint ID, DP Alt Mode, and DisplayLink technology. The Dock 710 and Dock 720 are designed to enhance productivity, security, and performance while keeping your desk clutter-free.
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Major Key Players of the Market:
Meeco Sullivan LLC; Jet Dock Systems Inc.; Marinetek Group Oyj; Maricorp US LLC; EZ Dock Inc.; Martini Alfredo SpA; Walcon Marine Ltd.; TTS Group ASA; Damen Shipyards Group; Accudock; Bellingham Marine Industries Inc.; Transpac Marinas Inc.; Obrascón Huarte Lain S.A.; Candock Inc.; PMS Dockmarine; Bellingham Marine; Great Northern Docks Inc.; Dockside Marine Supply & Marine Services; Dock Builders Supply; DockinaBox; Dock Doctors LLC; Dock & Marine Construction Corp.; Dockside Marine Centre Ltd.; Dockside Marine Supply & Resort; Renegade Docks; ShoreStation; DeckWave; Dry Dock Marine Group; East Coast Docks; Royal Docks
Docks Market 2024 Key Insights:
• The docks market will grow to $2.12 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%.
• Increase In The Movement Of Marine Vessels Propels The Dock Market
• Technological Advancements Revolutionize The Market
• North America was the largest region in the docks market in 2023
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