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NEW YORK, March 9, 2021 /PRNewswire/ -- The global boat docks and lifts market is set to grow by
USD 220.91 billion during 2021-2025. Technavio segments the boat docks and lifts market by
type (boat docks and boat lifts) and application (commercial and household), geography (North America, Europe, APAC, South America, and MEA). The report identifies increasing customer engagement in marina and recreational boating activities as one of the major factors propelling the market growth.
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Boat Docks and Lifts Market by Type, Application, and Geography - Forecast and Analysis 2021-2025
Owning and maintaining a leisure boat is very expensive. Hence, people who fall in the mid-level and low-level annual income segment are shifting from the concept of boat ownership to boating experiences offered by company-operated leisure/recreational boating services. This is resulting in a huge demand for leisure boats from vacation and corporate travel companies. Besides, factors such as the rapid growth of the Millennial population, growing disposable income, and the increasing popularity of adventure tourism are expected to foster the growth of the global boat docks and lifts market during the forecast period.