North America is a significant global export hub for various goods and services and home to the world's largest coastline. Furthermore, the number of recreational sports played in the U.S has increased manifold in the last few years. According to the American Time Use Survey (ATUS), the average participation in recreational sports has increased by around 3.6% in the last decade. The increase in the population of people in the coastal states such as Florida, San Francisco, and other states have boosted the demand for dock floats to dock personal yacht and janskies. The further increase in inland transportation in the region is estimated to drive demand for dock floats used to load and unload goods. The aforementioned factors are estimated to make North America a considerable growth region during the dock floats' assessment period.
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COVID-19: Impact Analysis
The outbreak of the coronavirus pandemic has managed to cease the world's normal functioning. One of the major industries at the receiving end of the pandemic is the shipping and maritime industry. The other problems leading to affect the shipping industry are port closures, demand for cargos, disputes between charters and owners due to loss of money and time, and disputes in laytime settlements. The decrease in demand from the shipping industry is anticipated to hamper the growth prospects of dock floats used extensively in the shipping and marine industry. Furthermore, with the loss of jobs and decreasing disposable incomes, the demand for recreational marine sports and activities has also taken a hit due to increased local lockdowns and social distancing norms in various countries. All these factors are anticipated to hamper the market growth during the assessment period.
Dock Floats Market: Key Players
Dock Floats Market: Segmentation
Central and South America and the Caribbean
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* Customer Behaviour Analysis
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