Global docks market to reach $2.22b in 2029

Thanks to various factors such as the rise in maritime shipping.

The size of the docks market is projected to reach $2.22b by 2029 at a compound annual growth rate of 5.1%, according to TBRC Business Research Pvt Ltd.

In its new analysis, the company said this expansion will be supported by various factors, such as the rise in maritime shipping.

“The anticipated rise in maritime shipping is set to boost the docks construction market. Maritime shipping involves the use of waterways for product transportation between different locations,”

This sector encompasses pre-shipping/post-shipping operations for transporting goods and people. Docks play a crucial role in maritime shipping, serving as locations for repairing and cleaning ships, alongside loading and unloading cargo.

According to the company, one trend gaining traction in the dock construction market is product innovations.

“Incorporating new and innovative products is an approach taken by primary companies in the dock construction field to consolidate their market presence,” it said.