Boat Docks and Lifts Market Growth By Type, Application and Geography - Forecast and Analysis 2023-2027

The Global Boat Docks and Lifts Market size is estimated to grow by USD 299.78 million between 2022 and 2027 accelerating at a CAGR of 5.09%. The growth of the market depends on several factors, such as increasing customer engagement in the marina and recreational boating activities, increasing demand for outboard engine-operated powerboats, and government initiatives for the development of boating and yachting.

This boat docks and lifts market report extensively covers market segmentation by application (commercial and household), type (boat docks and boat lifts), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. 

What will be the Size of the Boat Docks And Lifts Market During the Forecast Period?

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Technavio’s Exclusive Boat Docks and Lifts Market Customer Landscape

The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Boat Docks and Lifts Market Customer Landscape

Boat Docks and Lifts Market Segmentation by Application, Type, and Geography

Application Analysis

The commercial segment will contribute a major share of the market, as commercial boat docks and lifts are used by marinas, restaurants, hotels, resorts, housing developments, and sailing and boat companies. The commercial segment showed a gradual increase in market share with USD 670.84 million in 2017 and continued to grow by 2021. The increasing demand for boat docks and lifts from commercial end-users is primarily due to the growth of the waterfront business. Major ongoing and future marina infrastructure development projects will boost the demand for commercial boat docks and elevators during the forecast period.

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Demand for yachts and boats is increasing in APAC. The growing wealthy population in the region is a key factor driving the demand for yachts and boats in APAC. This will accelerate marina development across the region, thereby driving demand for boat docks and lifts for commercial applications. The growing popularity of water sports and boat racing around the world is having a positive impact on yacht and boat sales. Economic recovery in the developing world has boosted the purchasing power of the wealthy, boosting sales of boats and yachts. Therefore, increasing sales of yachts and boats during the forecast period is expected to drive growth in the global commercial boat docks and lifts market. 

Type Analysis

Increasing marine and offshore activities for leisure, adventure, commercial, and development purposes are increasing the demand for private vessels, yachts, and boats, leading to the growth of the boat dock market. Favorable characteristics of docks, including ease of access and boat safety, continue to drive the growth of the boat dock market. The growth of the tour boat industry worldwide due to improving economic conditions and the increasing popularity of marine and coastal tourism will drive the expansion of boating facilities and boost the growth of the boat dock segment. Vendors in this segment work together to promote sustainability and innovation in the industry.  The growing demand for boats from private customers in developed countries such as the United States and Europe has increased the demand for various types of docks in private residential facilities.  All these factors are expected to increase the demand for boat dock applications, driving the growth of the segment during the forecast period. 

Regional Analysis

North America is estimated to contribute 42% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period.  

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Individual boaters in the area prefer recreational boating as an experience to boat ownership. This changing preference has led to increased customer engagement with marina and charter services, which is a key driver of demand for recreational boating in North America. Recent innovations such as the introduction of remote controls in elevators and the incorporation of eco-friendly materials in dock construction will also be key factors contributing to the growth of the regional boat dock and elevator market. The United States and Canada are two major recreational boating markets in North America. The United States is by far the largest single recreational boating market, accounting for nearly two-thirds of total sales generated in North America. Boating is one of America's favorite recreational activities. Factors such as the country's positive economic growth over the past decade, rising consumer confidence, and innovation by boat manufacturers are driving the US market. 

The North American region, especially the United States, has been the hardest-hit region by the COVID-19 pandemic. The COVID-19 outbreak made governments across the region impose regular lockdowns. Due to the pandemic, major water sports events and recreational activities were canceled in 2020. However, the demand for boats in North America continued on a growth trajectory for over the next two to three years.  For example, U.S. boat sales increased from 286,000 units in 2018 to 318,550 units in 2020, according to NMMA. Such factors are expected to have a positive impact on the North American boat dock and elevator market during the forecast period. 

Who are the Major Boat Docks and Lifts Market Vendors?

Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

A Laiturit Oy: The company manufactures and designs docks and dock equipment. 

Aqua Boat Lifts: The company offers boat docks and lifts such as pontoon lifts.

We also have detailed analyses of the market’s competitive landscape and offer information on 19 market vendors, including:

• AirBerth Marketing PTY LTD.
• Alutrack Oy
• Basta Boatlifts
• Boat Lift US Inc.
• DECO Boat Lifts
• Dolphin Boat Lifts Inc.
• FLOE International Inc.
• Golden Manufacturing Inc.
• Hi Tide Boat Lifts
• IMM Quality Boat Lifts
• ItaliaMarine
• Jetdock Systems Inc.
• Marine Master Boat Lifts and Docks
• Midwest Industries Inc.
• NuCraft Metal Products
• RGC Products
• Sunstream Corp.
• Waterfront Brands

The report offers clients a deeper understanding of the market and its players through a combined qualitative and quantitative analysis of the vendors. The analysis classifies vendors into categories based on their business approach, including pure-play, category-focused, industry-focused, and diversified. Vendors are specially categorized into dominant, leading, strong, tentative, and weak to understand the dos and don’ts of business which in turn can help a client make the best decision.

Key Drivers, Trends and Challenges

Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Boat Docks and Lifts Market Drivers

The increasing customer engagement in the marina and recreational boating activities is the key factor driving the boat docks and lifts market growth. The global market for boat docks and lifts is experiencing strong demand due to increased consumer engagement in marinas and leisure boating activities. The US and Europe are the largest recreational boating markets, and the US recreational boating industry is expected to exceed USD 28 billion by 2024. Much of this growth is due to US-operated marina and charter services. Owning and maintaining a recreational boat is so expensive that middle- and low-income Americans are moving away from the concept of owning a boat to the boating experience provided by corporate recreational/recreational boating services. As a result, the country's marinas are in great demand for pleasure boats. Demand for boat docks and elevators is expected to continue increasing over the forecast period as consumers continue to migrate to marinas.

Around the world, most leisure and business travel agencies offer leisure boat activities and charter yacht services in their travel packages to attract local and international tourists. Recreational activities on the boat allow travelers to socialize with friends and family. Globally, adventure tourism is growing in popularity due to the rapidly growing millennial population and rising disposable incomes. Hence, the increasing adoption of recreational boating activities as part of adventure tourism drives the growth of the global recreational boating market. This trend is expected to continue during the forecast period as boating is one of the most popular consumer leisure activities in the US and Europe. 

Significant Boat Docks and Lifts Market Trends

The rising demand for advanced boat docks and lifts will fuel the boat docks and lifts market growth. Growing global demand for boat docks and elevators has led major players to launch new and innovative products to serve a wider customer base and increase profit margins. For example, in January 2021, Sunstream Boat Lifts, a manufacturer of portable and stationary boat lifts and its SwiftShield automatic boat cover system launched the SunLift SLX series, the latest freestanding hydraulic boat lifts. The SunLift SLX offers attractive features such as a clean design, next-generation frame, adjustable berth, stainless steel cylinders and hoses, large lift range, and zero-inch water depth under the hull or skeg. The SunLift SLX also includes a stainless steel cylinder, bite-resistant stainless steel braided hoses, Sunstream's patented cylinder boot, lubricated bronze bushings, and a rubberized aluminum superbank.

The advanced pressure-balanced hydraulic pump is 30% more efficient, consumes less battery power, is fast, quiet, and doesn't lose capacity over time. Similarly, in December 2020, land elevator manufacturer ShoreMaster LLC released its latest hydraulic elevator, the TruLift. This product offers superior reliability, best-in-class performance, and convenience. Due to its hydraulic design, it requires very little maintenance. Moreover, the hydraulic car lift provides a remote control function for convenient operation. Therefore, such innovative and advanced developments in boat docks and elevators are expected to be a positive trend for the global boat docks and elevators market during the forecast period.  

Major Boat Docks and Lifts Market Challenges

The high total cost of ownership for leisure boats can majorly impede the growth of the boat docks and lifts market.  Owning a pleasure boat is a luxury. Average leisure boat prices have continued to rise since 2006. The average selling price of boats increased by about 5% over this period. Rising average retail prices have also had a significant impact on recreational boat sales. Apart from the initial investment, there are other costs associated with recreational boating. Other major costs associated with purchasing and owning a recreational boat include slip rental, insurance, maintenance, cleaning, and state vessel license. Taking all these costs into account, the average total cost of ownership for a recreational boat is USD 60,000. Therefore, owning a recreational boat is not economically feasible for low- and middle-income households. Due to the high cost, the recreational boating market is also an emerging market niche. Therefore, the high total cost of ownership of recreational boats presents a significant challenge that may impede the growth of the boat dock and elevator market in the residential and commercial segments.  

Along with all this, boat docks have a significant impact on the environment by blocking sunlight, altering water flow patterns, and introducing chemicals into the environment. These factors adversely affect living resources such as seagrass and other aquatic plants. In addition, docks and elevators adversely affect other wetland-dependent species that nest and breed in highlands and adjacent shell beds. Docks can also cause water quality deterioration. The most common contamination from docks involves leaching from preservatives applied to stakes and floats where they regularly come in contact with water. Oil-based preservatives, including creosote (CRT) and pentachlorophenol (PCP), are easily leached and applied to the surface of wood, which can be very toxic. Above mentioned factors can therefore affect the aquatic and ecological balances in the sea and can also affect the demand for boat docks and elevators.

Segment Overview

The boat docks and lifts market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Application Outlook (USD Million, 2017 - 2027)
  • Commercial
  • Household

• Type Outlook (USD Million, 2017 - 2027)
  • Boat docks
  • Boat lifts

• Region Outlook (USD Million, 2017 - 2027)
  • North America
    • The U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Boat Docks And Lifts Market Scope
Report Coverage	Details
Page number	154
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 5.09%
Market growth 2023-2027	USD 299.78 million
Market structure	Fragmented
YoY growth 2022-2023(%)	4.04
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 42%
Key countries	US, Canada, Italy, UK, and Germany
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	A Laiturit Oy, AirBerth Marketing PTY LTD., Alutrack Oy, Aqua Boat Lifts, Basta Boatlifts, Boat Lift US Inc., DECO Boat Lifts, Dolphin Boat Lifts Inc., FLOE International Inc., Golden Manufacturing Inc., Hi Tide Boat Lifts, IMM Quality Boat Lifts, ItaliaMarine, Jetdock Systems Inc., Marine Master Boat Lifts and Docks, Midwest Industries Inc., NuCraft Metal Products, RGC Products, Sunstream Corp., and Waterfront Brands
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Boat Docks and Lifts Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the boat docks and lifts market between 2023 and 2027
• Precise estimation of the size of the boat docks and lifts market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market industry across North America, Europe, APAC, South America, and Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of boat docks and lifts market vendors

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