The Catamarans by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Catamarans, 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..
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.
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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
Product innovation is a key trend driving innovation and growth in the catamaran market. Many major players in the industry are focusing on developing new technologies and solutions to reduce their environmental impact and improve efficiency. For example, in March 2023, Alva Yachts GMBH, a German-based electric luxury yacht brand for solar-driven catamarans, launched the Ocean Eco 78. It is uniquely designed as a 23.7-meter multihull yacht that has electric propulsion and transatlantic range. It has an expansive roof that has been specifically conceived for the integrated solar panels, which give it a transatlantic range and virtually unlimited autonomy. The solar cells can provide up to 26 kW, and the battery bank’s capacity is up to 490 kWh.
Major Players:
- African Cats B V
- Voyage Yachts Ltd.
- Bavaria Yachtbau GmbH
- Catana Group SA,
- Seawind Group Holdings Pty Ltd.
The catamarans market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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