A catamaran refers to a type of boat with two parallel hulls connected by a deck or bridge, providing excellent stability and speed on the water. They are used for sports and recreation activities.
Sizing and Forecast
The catamarans market size has grown strongly in recent years. It will grow from $1.43 billion in 2023 to $1.53 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to leisure and recreational boating, cruising and chartering trends, competitive sailing and racing, luxury yachting and marine tourism, multihull advantages..
The catamarans market size is expected to see strong growth in the next few years. It will grow to $1.96 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to growing interest in sustainable boating, innovations in design and materials, emerging niche markets, increased affordability and accessibility, rising marine tourism in emerging regions.. Major trends in the forecast period include racing catamarans and competitive sailing, charter and rental services, advances in navigation and control systems, compact and trailerable catamarans, global market expansion..
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The catamarans market covered in this report is segmented –
1) By Product: Sailing Catamarans, Powered Catamarans
2) By Size: Small(below 15m), Medium(15m-30m), Large(above 30m)
3) By Application: Leisure, Commercial, Defense, Others
Europe was the largest region in the Catamarans market in 2023. The regions covered in the catamarans market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Increased cruising is driving the growth of the catamaran market. Cruising refers to traveling on a ship or boat, typically for pleasure or vacation purposes, while stopping at different ports or destinations. Cruising with a catamaran is a popular option, which combines the independence of sailing with the comfort and amenities of a conventional cruise ship. Catamarans are used in cruising to sail around, thus, increasing cruising will propel market growth. For instance, in February 2022, according to Cruise Market Watch, a China-based provider of analytics about the ocean cruise industry, the global ocean cruise passenger capacity increased to 581,200 in 323 ships, which can carry a total of 13.9 million passengers at the end of the year 2021. Additionally, in April 2022, Prosertek, Europe-based harbor equipment and machinery manufacturer, stated the number of passengers on cruise ships increased by 96% Year-on-Year (YoY) in 2021, hitting 13.9 million. Therefore, the increase in cruising is driving the catamaran market.
Key Industry Players
Major companies operating in the catamaran market are focused on introducing next-generation products, such as eco-friendly catamarans, to gain a competitive edge in the market. Eco-friendly catamarans are designed with a focus on sustainability and environmental impact reduction. For instance, in September 2023, The Italian Sea Group, an Italy-based yachting industry company, launched S/Y Art Explorer, the first sailing catamaran of the Perini Navi fleet. Perini Navi is an Italian yacht manufacturer. Art Explorer is an innovative project requiring great environmental awareness and creative experiences worldwide for two years. It also boasts an outstanding all-carbon sail plan with a 55-meter mast. There are 65 square meters of solar panels placed on the deckhouse roof. These panels have a 12-kW peak power output in an instant and can store more than 200 kW of energy each day. A lithium battery bank is integrated to provide continuous power, enabling electricity production with no emissions for over six hours while operating at full capacity.
The catamarans market report table of contents includes:
1. Executive Summary
2. Catamarans Characteristics
3. Catamarans Trends And Strategies
4. Catamarans – Macro Economic Scenario
5. Global Catamarans Size and Growth
…..
32. Global Catamarans Competitive Benchmarking
33. Global Catamarans Competitive Dashboard
34. Key Mergers And Acquisitions In The Catamarans
35. Catamarans Future Outlook and Potential Analysis
36. Appendix
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