Industry Background:
A boat lift is a device for transferring boats between water that are at two different elevations. However, boat lifts these days serve a different function. It allows a boat to be lifted from the water. This has many benefits, including corrosion prevention. With a boat lift, the end users are able to keep their boat elevated and out of the water when not in use. Boat Lift is a very safe and stress-free way to raise a boat weighing up to 10,000 pounds. It can be lifted up to 12-inches (30 cm) above the bunks or rollers with just a single operator. Further, the expansion of the shipping industry and its ease of usage in floating docks is driving the global boat lift market.According to AMA, the market for Boat Lifts is expected to register a CAGR of 4.5% during the forecast period to 2026. This growth is primarily driven by Increasing Demand for Boat Lifts in Marine Industry, Various Applications of Boat Lifting and Ease of Usage of Boat Lifts.
Globally, a noticeable market trend is evident Increasing Tourism Activity
. The Marine sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as RGC Products (United States), Hi-Tide (United States), Golden Manufacturing, Inc. (United States), HydroHoist Marine Group (United States), Midwest Industries, Inc. (United States), IMM Quality Boat Lifts (United States), Crowells Boat Lift Repair (United States), Sunstream Boat Lifts (United States), ShoreMaster LLC (United States), Blue Ocean Tech Solutions Pvt. Ltd. (United States), Basta Boatlifts (United States), FLOE International (United States), AirBerth Marketing PTY Ltd. (Australia), DECO (United States) and A-Laiturit (Finland) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
In May 2018, IMM Quality Boat Lifts, the world’s leading manufacturer of boat lifts, continues to grow and expand capacity to meet strong customer demand. This new equipment forms part of our ongoing USD 2.5 million equipment and facility expansion initiative that began last year. and The expansion initiative is a tremendous opportunity to continue to improve our industry-leading machining, fabrication and welding capabilities and reflects a very proactive stance to keep IMM Quality Boat Lifts growing and thriving in 2018 and beyond
Market Drivers
- Increasing Demand for Boat Lifts in Marine Industry
- Various Applications of Boat Lifting
- Ease of Usage of Boat Lifts
Market Trend
- Increasing Tourism Activity
- Enhanced Performance and Low Maintenance
Restraints
- Not Suitable For Heavy Loading and Strong Current and Tidal Flows
- Expensive to Fix and Repair
Opportunities
Advancement in Technology in the Shipping Industry
Challenges
Lack of Skilled Labourers is Posing a Challenge for the Market
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Boat Lifts Study Sheds Light on
The Boat Lifts Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Boat Lifts industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Boat Lifts industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.