A floating dock, also known as dry-dock, is a part of a dock system. It has the ability to submerge to a sufficiently adequate depth, which enables cargo or a vessel to coast in and be anchored in position close to the entryway and push out the water. Another benefit of a floating dock is that proprietors do not need to tie up the dock systems at the harbourfront.
Instead, they can put it on the floating dock. Floating docks are used for residential, commercial and industrial applications for ferry landings, fuelling cargos, helicopter landing pads and others. Furthermore, they are also used for the repair or maintenance of large cargo tankers, carriers or icebreakers.
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Dock systems, such as floating docks, are important as they benefit in making tasks, such as loading or unloading, repair and maintenance, easier for export and import business. The efficient transportation of goods has always been a topic of concern in the export and import business, which is increasing year-by-year, thereby fuelling the demand for these docks.
The to or fro movement of cargo can cause the separation of the cargo from the doc, in which case, these docks help stabilise the cargo or the ship, thus offering the smooth transition of goods or passengers from the ship/cargo to the dock or the shore.
In addition, these docs eliminate the necessity of hiring either expensive skilled labour or economical less-qualified manpower, which is likely to result in hampering the quality of port operations. Moreover, these docs offer cost-efficiency as they provide a solution that is safer, offers better performance and can also be considered a good return on investment.
With state-of-the-art design features, floating docks are built to last and deliver maximum performance in minimum downtime, hence, the aforementioned factors are expected to significantly drive the market during the forecast period.
The supply chain scenario for floating docks market can be perceived both strong as well as weak. In the recent years, the integration of the supply chain has emerged as a trend in the import-export business. Terminal operators, shipping companies and logistics providers are going global and gaining more bargaining power.
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In addition, globalisation and the developing world economy are estimated to fuel the growth of the global freight transport market in the years to come, which is, in turn, expected to drive the market.
Moreover, these docks are replacing old dock systems, which is, in turn, stipulated to drive the demand for the same during the forecast period.
European standard EN 1398 focuses on the quality of products during handling as well as the safety of employees. Hence, the usage of floating docks is estimated to gain significant traction over the forecast period in the region.
The Middle East Africa is expected to witness a higher CAGR by value as compared to Japan over the forecast period. Furthermore, the growing e-commerce industry in North America and the role of freight forwarding for the transportation of goods via the sea is estimated to fuel the growth of the market in the coming years.
Moreover, increasing private-public partnerships in Latin American, countries, such as Colombia and Ecuador, has resulted in the expansion of the coastal lines, which is contributing to an increase in the unit sales of these docks. Asian countries, such as India, China and Japan, are expected to witness above-average market growth owing to an increase in export and import businesses.
Floating Docks Market: Segmentation
On the basis of type, the global market can be segmented into the following:
- Concrete Floating Docks
- Metal Floating Docks
- Wood Floating Docks
- Plastic Floating Docks
On the basis of application, the global market can be segmented into the following:
- Residential
- Commercial
- Industrial
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