The global boat davits market size was US$ 347.5 million in 2021. The global boat davits market size is estimated to reach US$ 592.0 million by 2030, growing at a compound annual growth rate (CAGR) of 6.1% during the forecast period from 2022 to 2030.
A boat davit is a device used on a ship to raise, support, and lower the boats. This device is majorly used to lower an emergency lifeboat from the ships. A boat davit is usually a hydraulic-operated slewing or pivoting davit designed for launching and recovering a fully-manned rescue boat. The boat davits are used against unfavorable conditions of trim of up to 10 degrees and a list of up to 20 degrees either way.

Factors Influencing Market Growth

? The rise in global marine cargo transport and growth in marine safety rules are expected to drive the overall market expansion.
? Environmental problems related to marine containers and changes in transport and product prices of marine vessels are anticipated to restrict the expansion of the overall market.
? The rise in water sports and peace activities and the increase in the use of hybrid and completely electric vessels are anticipated to drive the overall market expansion.

Effect of the COVID-19 Pandemic

COVID-19 severely influenced the expansion of the overall market due to disorders for shipyards in terms of new repair, building, and transformation schemes. This led to cause some firms shut down their shipyard functions in many countries. However, the world is slowly replacing normality in everyday business actions by taking proper steps to stop the spread of the virus. A rise in vaccination and a reduction in fatality has enhanced the market system for shipbuilding and ship refurbishment, which is anticipated to drive the overall market expansion.

Regional Analysis

Asia-Pacific had the highest overall market growth in terms of revenue and is anticipated to hold the position during the analysis period. This is attributed to a few specific benefits like the rise in shipbuilding and marine segment production in the region, and also due to affordable wages, powerful government support, and strong forward and backward link sector.

Leading Competitors
The prominent players in the global boat davits market are:
? Nautical Structures
? Magnum
? Lunmar Boat Lifts
? Kato Marine
? Jingjiang Trust Marine Equipment
? Forespar
? Davit Master
? Boat Lift Warehouse
? Spencer Carter
? Weaver Industries
? Others

Segmentation Analysis
The global boat davits market segmentation focuses on Type, Mode, Material, Application, Propulsion, Weighing Capacity, and Region.
Segmentation on the basis of Type
? Free fall davit
? Quadrantal davit
? Gravity roller track davit
? Single pivot gravity davit

Segmentation on the basis of Mode
? Passenger Vessel
? Commercial Boats
? Others

Segmentation on the basis of Material

? Aluminum
? Steel
? Composites

Segmentation on the basis of Application
? Seawall Mount Davits
? Dock Mount Davits
? Pile Mount Boat Davits

Segmentation on the basis of Propulsion
? Electric
? Manual

Segmentation on the basis of Weighing Capacity
? Less than 1000 Pound
? 1000 to 4000 Pound
? More than 4000 Pound

Segmentation on the basis of Region
? North America
? The U.S.
? Canada
? Mexico
? Europe
? Western Europe
? The UK
? Germany
? France
? Italy
? Spain
? Rest of Western Europe
? Eastern Europe
? Poland
? Russia
? Rest of Eastern Europe
? Asia Pacific
? China
? India
? Japan
? Australia & New Zealand
? ASEAN
? Rest of Asia Pacific
? Middle East & Africa (MEA)
? UAE
? Saudi Arabia
? South Africa
? Rest of MEA
? South America
? Brazil
? Argentina
? Rest of South America