Global Boat Davit Market Overview:
Boat Davit Market Size was estimated at 0.36 (USD Billion) in 2022. The Boat Davit Market Industry is expected to grow from 0.37(USD Billion) in 2023 to 0.53 (USD Billion) by 2032. The Boat Davit Market CAGR (growth rate) is expected to be around 3.96% during the forecast period (2024 - 2032).
Key Boat Davit Market Trends Highlighted
The boat davit market’s expansion is primarily attributable to the increasing popularity of recreational boating, together with the growing interest in water activities like sailing and fishing. People are also adopting the davits since they offer an easier and safer method for launching and recovering vessels offshore.
One of the possibilities offered in the boat davit market is the soaring need for davits that can be used on bigger boats, and also there is a developing need for davits that sort out certain requirements, such as sailboat davits or fishing boat davits. More so, the market is likely to benefit from the increase in the need for dhows that are made of light materials such as aluminum.
In the current situation, the trend of electrifying davit systems coupled with the growing influence of davits for inflatable boats on the boat davit industry is visible. Furthermore, there is a rising need for several other kinds of davits that function in tough, difficult sea conditions, i.e., offshore and salt-water-use davits.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Boat Davit Market Drivers
Increasing Demand for Recreational Boating
One of the most important drivers of the Boat Davit Market Industry is the increasing popularity of recreational boating. Due to the growing interest in such activities as fishing, swimming, and sailing, more and more people have decided to take up boating, which has resulted in the rising demand for amas and davits, which are used to launch and recover them. In the next decade, the growth of recreational boating is expected to persist as people continue discovering new and more exciting ways to enjoy the water.Several factors determine this tendency, such as surging disposable incomes, growing urbanization rates, and more active promotion of the positive health outcomes associated with spending time outdoors. As a result, boat sales are predicted to grow steadily in the next ten years, as well. Therefore, since davits are indispensable in both launching and returning boats safely and smoothly while determining the type and size of each vessel and the type of davit system, the rising popularity of recreational boating is expected to result in a growing demand for this product.To sum up, this popularity entails a new opportunity for Davit suppliers and manufacturers, who are expected to benefit from the increasing demand in the near future.
Rising Demand for Commercial Boats
The commercial boat market is one of the other major drivers, as fixed in the analysis of the Boat Davit Market Industry. Commercial boats are used for different purposes, such as fishing, transportation, and research. As the global economy grows, the demand for commercial boats also increases. In addition, developing countries require more boats to support their fishing and transportation. Hence, boats need davits to safely and easily launch and pull them back.Davits are used on different types of commercial boats, such as fishing boats, workboats, and research vessels. As boat activity increases, the demand for davits also increases. Hence, the growing demand for commercial boats is an opportunity for Davit manufacturers and suppliers.
Technological Advancements
Technological advancements are also driving the growth of the Boat Davit Market Industry. Davits are becoming increasingly sophisticated, with new features and capabilities being added all the time. For example, some davits now come with remote controls, which allow them to be operated from a distance. Others are equipped with sensors that can detect the weight of the boat and adjust the davit's settings accordingly. These technological advancements are making davits more user-friendly and efficient, which is appealing to both recreational and commercial boaters.As a result, the demand for davits is expected to continue to grow in the coming years.
Boat Davit Market Segment Insights:
Boat Davit Market Boat Type Insights
The Boat Type segment is one of the most critical parts of the Boat Davit Market because it is a primary factor impacting the market and its overall growth and dynamics. This segment includes sailboats, powerboats, yachts, catamarans, and personal watercraft, which are the secondary classifications within the type of boat category. Firstly, sailboats are a well-appreciated part of the market due to their reliance on wind power, which is still significant. Boat Davit Market data indicates that the sailboats’ revenue for the market is expected to be $104.3 million by 2027, with a steady growth rate.In contrast, powerboats are relevantly more common because they rely on engines for their propelling, subsequently allowing them to be faster and more suitable for more applications. The powerboat segment is expected to reach $126.4 million by 2027. Yachts are one of the most premium segments of the Boat Davit Market types because they are luxury vessels designed for cruising. When their market data is analyzed, it is clear that they offer many more opportunities for growth, with a projected revenue of $87.2 million by 2027. Catamarans are a relatively new type of sailing vessel that can be more stable and offer more space for onboard activities.They are also well-needed boats that are projected to bring in $63.9 million by the same year. Finally, personal watercraft are a type of small and maneuverable vessel that includes jet skis and wave runners and meets the market’s needs and conditions with a revenue of $48.1 million. The other segmentation of the Boat Type segment can help understand and use the growth potential and dynamics within these categories.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Boat Davit Market Davit Type Insights
The Davit Type segment plays a crucial role in the Boat Davit Market industry, with each type offering unique advantages and catering to specific market needs. Manual Davits: These davits are operated manually, providing a cost-effective and reliable solution for smaller boats. Their simplicity makes them suitable for recreational and commercial applications, contributing to a significant share of the market. Electric Davits: Electric davits utilize electric motors for operation, offering increased convenience and efficiency. They are commonly found on larger vessels and commercial applications, where ease of use and precise control are essential.The growing demand for electric davits is driven by advancements in marine technology and the need for efficient boat handling. Hydraulic Davits: Hydraulic davits employ hydraulic systems for operation, providing high power and durability. They are widely used in heavy-duty applications, such as military and offshore vessels, where reliability and performance are paramount. The market for hydraulic davits is expected to grow steadily due to increasing demand for specialized marine equipment. Telescopic Davits: Telescopic davits feature extendable arms, allowing for flexible reach and positioning of boats.Their versatility makes them suitable for various applications, including boat launching, recovery, and maintenance. The growing popularity of telescopic davits is attributed to their space-saving design and adaptability. Pivot Davits: Pivot davits are designed to rotate, providing a wide range of motion for boat handling. They are commonly used on larger vessels, such as yachts and cruise ships, where space optimization and maneuverability are critical. The market for pivot davits is anticipated to witness steady growth due to the increasing number of luxury and leisure boats.
Boat Davit Market Capacity Insights
The Capacity segment of the Boat Davit Market is classified into Small Davits (Under 2,000 lbs), Medium Davits (2,000-4,000 lbs), and Large Davits (Over 4,000 lbs). Among these, the Small Davits segment held the largest market share in 2023 and is projected to maintain its dominance throughout the forecast period. Factors such as the increasing popularity of small boats and the cost-effectiveness of small davits are driving the growth of this segment. The Medium Davits segment is expected to witness a steady growth rate due to the rising demand for Davits capable of handling heavier loads.The Large Davits segment is anticipated to experience moderate growth, primarily driven by the increasing adoption of large boats and yachts.
Boat Davit Market Material Insights
Stainless steel is the most widely used material in the boat davit market due to its strength, corrosion resistance, and durability. It is commonly used in davits for large boats and yachts. Aluminum is another popular material, offering a lightweight and corrosion-resistant alternative to stainless steel. It is often used in davits for smaller boats and personal watercraft. Composite materials, such as fiberglass and carbon fiber, are gaining popularity due to their high strength-to-weight ratio and corrosion resistance. They are often used in davits for racing boats and other high-performance applications.Titanium is a high-strength, low-weight material that is used in davits for specialized applications, such as military and commercial vessels. The growth of the market is attributed to the increasing demand for recreational boating, the rising popularity of water sports, and the growing number of boat owners worldwide.
Boat Davit Market Application Insights
The Boat Davit Market segmentation, based on application, provides valuable insights into the industry's growth dynamics. Marinas, a key application segment, held a significant market share in 2023 and is projected to maintain its dominance through 2032. The growing demand for recreational boating, coupled with increasing investments in marina infrastructure, is driving the growth of this segment. Yacht clubs, another notable segment, are expected to witness steady growth, driven by the rising popularity of yachting and the expansion of yacht club memberships.Boat launches, shipyards, and docking facilities are other prominent application segments contributing to the overall market growth. Boat davits play a crucial role in these applications, ensuring the safe and efficient launch, retrieval, and storage of boats, contributing to the overall growth of the Boat Davit Market.
Boat Davit Market Regional Insights
The Boat Davit Market is segmented into North America, Europe, APAC, South America, and MEA. The North American region is expected to hold the largest market share in 2023, owing to the presence of a large number of boat manufacturers and marinas. The European region is expected to follow North America in terms of market share due to the growing popularity of boating in the region. The APAC region is expected to witness the fastest growth in the market, owing to the increasing disposable income and growing interest in boating in the region.The South American and MEA regions are expected to have a relatively smaller market share but are expected to grow at a steady pace.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Boat Davit Market Key Players and Competitive Insights:
Major players in the Boat Davit Market industry are constantly striving for Boat Davit Market development through strategic partnerships, acquisitions, and product innovations to cater to the growing demand for efficient and reliable boat handling systems. Leading Boat Davit Market players are focused on expanding their global reach and enhancing their product offerings to gain a competitive edge in the global market. The Boat Davit Market Competitive Landscape is characterized by intense competition among established players, with each player holding a unique position in terms of product offerings, market share, and geographic presence.The Boat Davit Market is witnessing strong growth due to the increasing popularity of recreational boating and the growing number of boat owners. Innovative designs and advanced technologies are driving market expansion as manufacturers focus on providing compact, lightweight, and easy-to-use davit systems. Customer's demand for customized solutions is also influencing market trends, leading manufacturers to offer bespoke systems tailored to individual boat sizes and types.A leading player in the Boat Davit Market, Davit Systems, has established a strong presence globally. With decades of experience in the industry, the company offers an extensive range of hydraulic and manual davit systems suitable for various vessels. Davit Systems' commitment to quality and innovation has earned it a reputation for reliability and performance, making it a preferred choice for boat owners and boatbuilders alike. Continuous investment in research and development enables Davit Systems to stay at the forefront of the industry and meet evolving customer needs.
Key Companies in the Boat Davit Market Include:
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MacGregor
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Palfinger
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Eurodavits
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Taylor Made
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SMF Marine
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Welin Davit
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Karot Marine Equipment
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Nautical Structures
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Shipway
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Ward Marine Products
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Britannia Industries
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TTS Marine
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Fantuzzi Reggiane
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Elliot Davit
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Kongsberg
Boat Davit Market Industry Developments
The Boat Davit Market is projected to reach a valuation of USD 0.53 billion by 2032, expanding at a CAGR of 3.96% from 2024 to 2032. The market growth is driven by increasing demand for recreational boating, the growing popularity of water sports, and rising disposable income in emerging economies. Technological advancements, such as the integration of electric davits and remote monitoring systems, are further expected to boost market growth. Key industry participants include Davit Systems, Vestdavit, and Harding Safety. Recent news developments in the market include the launch of a new range of compact davits by Davit Systems and the acquisition of Vestdavit by Harding Safety.
Boat Davit Market Segmentation Insights
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Boat Davit Market Boat Type Outlook
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Sailboats
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Powerboats
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Yachts
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Catamarans
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Personal Watercraft
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Boat Davit Market Davit Type Outlook
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Manual Davits
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Electric Davits
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Hydraulic Davits
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Telescopic Davits
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Pivot Davits
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Boat Davit Market Capacity Outlook
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Small Davits (Under 2,000 lbs)
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Medium Davits (2,000-4,000 lbs)
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Large Davits (Over 4,000 lbs)
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Boat Davit Market Material Outlook
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Stainless Steel
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Aluminum
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Composite
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Titanium
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Polycarbonate
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Boat Davit Market Application Outlook
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Marinas
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Yacht Clubs
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Boat Launches
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Shipyards
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Docking Facilities
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Boat Davit Market Regional Outlook
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North America
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Europe
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South America
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Asia Pacific
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Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
0.36(USD Billion) |
| Market Size 2023 |
0.37(USD Billion) |
| Market Size 2032 |
0.53(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
3.96% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
MacGregor, Palfinger, Eurodavits, Taylor Made, SMF Marine, Welin Davit, Karot Marine Equipment, Nautical Structures, Shipway, Ward Marine Products, Britannia Industries, TTS Marine, Fantuzzi Reggiane, Elliot Davit, Kongsberg |
| Segments Covered |
Boat Type, Davit Type, Capacity, Material, Application, Regional |
| Key Market Opportunities |
Increased demand for luxury yachts Growing popularity of water sports Technological advancements Rising coastal tourism industry Expanding boating infrastructure |
| Key Market Dynamics |
Surging demand for luxury yachts Increased participation in water sports Growing adoption of hydraulic davits |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Boat Davit Market is expected to reach a valuation of approximately 0.37 billion USD in 2023.
The Boat Davit Market is projected to grow at a CAGR of 3.96% from 2024 to 2032.
The North America region is expected to hold the largest market share in the Boat Davit Market by 2032.
The increasing demand for recreational boating and the growing popularity of water sports are key factors driving the growth of the Boat Davit Market.
Some of the major players in the Boat Davit Market include Davit Systems, Inc., Harding Safety, and Vestdavit.
Boat Davits come in various types, including gravity davits, hydraulic davits, and telescopic davits.
Boat Davits are primarily used to launch and retrieve boats from the water.
The Boat Davit Market is expected to reach a valuation of approximately 0.53 billion USD by 2032.
The commercial boat segment is expected to hold the largest market share in the Boat Davit Market by 2032.
The high cost of Boat Davits and the stringent regulations governing their use are key challenges faced by the market.
