The global Catamaran market was valued at USD 1.4 Billion in 2022 and it is anticipated to grow up to USD 2.5 Billion by 2032, at a CAGR of 5.8% during the forecast period.
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A catamaran is a type of boat or ship consisting of two hulls, or platforms, that are connected by a frame. Most catamarans are powered by sails or engines. Catamarans are faster and more stable than traditional monohull boats, and are therefore popular for recreation, racing, and commercial use.
Market Trends and Drivers
The increased disposable income of citizens, as well as an increase in cruising and racing events, are some of the factors driving the industry’s expansion. Catamarans are highly comfortable. They have significantly more room than monohulls, and this means that the cockpit and living room between the two hulls provide enough space. This is especially critical while going from one lengthy destination to another. The market is expanding at a tremendous growth rate owing to the rising marine tourism and users’ inclination toward luxurious travels. Due to the advancements in design and technology, boat manufacturers are producing catamarans that are quicker and more fuel-efficient. As a result, a slew of devoted monohull owners has switched to catamaran ownership. In November 2021, The Martini 7.0, a 165-foot catamaran yacht with unique technology that gives passengers seasickness treatment, was introduced by Servo Yachts LLC.
Market Restraints and Challenges
The key restraints and challenges in catamaran market are the high cost of catamaran hulls and the lack of standardization among manufacturers. The challenges associated with towing and mooring catamarans. The difficulty in finding experienced catamaran operators. Moreover, the challenges associated with repairing and maintaining catamarans.
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Global Catamaran Market Segmental Overview
The report analyses the global Catamaran market based on Product, Size, Application , and region.
Global Catamaran Market by Product
By product, the market is bifurcated into sailing catamarans and power catamarans. Among these, the sailing catamaran segment held the largest revenue share of 54.21% in 2021. The power catamaran segment is expected to expand at a rapid CAGR of 6.2% through the forecast period. Sailing catamarans are often used by sailors or those who like sailing, and they are ideal for a long-distance cruise. Sailboats may reach 9-10 knots with the right propeller and engine, and they are seaworthy, i.e., they provide comfort at sea. New designs and technological improvements have made sail handling on sailing catamarans easier now. Sailboats can accommodate several passengers at once, and that way, they encourage sociability and are calm. Sailing catamarans are also less expensive per cubic foot of volume.
Global Catamaran Market by Size
By size, the industry is classified into small, medium, and large. Among these, the medium segment dominated in 2021, with a revenue share of 38.05%. The small segment is expected to advance at the fastest CAGR of 6.4% throughout the forecast period. A medium-sized catamaran is 30-50 feet long, and a boat of this size has adequate space for a cabin and can easily accommodate two to four persons. The average ocean-crossing catamaran is 40 to 45 feet long. Designers can put a tremendous number of more amenities in the hulls by adding 10 feet in length. This is because adding a little more size allows designers and boat builders to dramatically broaden each hull, allowing for amenities like private staterooms, several bathrooms, and entirely separate eating and cooking areas.
Global Catamaran Market by Application
In terms of application, the industry is classified into sport, leisure, transport, and others. Among these, the leisure catamaran market dominated in 2021 with a revenue share of 37.79%. The sport segment is expected to expand at the fastest CAGR of 6.6% throughout the forecast period. A leisure catamaran is mainly used for water tourism and recreational pleasures. These vessels may have opulent infrastructures such as lodging, cabins, and other amenities. Globally, as people’s disposable income has increased, there has been an apparent growth in tourism spending. The leisure catamaran market is expanding due to the increased popularity of water sports, improved boat infrastructure, technological advancements, and other water activities throughout the world.
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Major Players in the Global Catamaran Market
- Robertson & Caine
- Fountaine Pajot
- Lagoon
- World Cat
- Catana Group
- Outremer Yachting
- LeisureCat
- Seawind
- Incat Crowther
- Voyage
COVID-19 Impact
The COVID-19 pandemic had a negative impact on the sector, which was worsened by the worldwide lockdowns and limitations on travel and tourism. Lockdowns caused production facilities to close, labor shortages, and raw material shortages as a result of disruptions in the supply chain. Temporary firm closures placed a severe financial burden on industry members.
However, the catamaran business is expected to grow following the pandemic, owing to government attempts to boost maritime tourism and OEM investments in new product advancements. In the second half of 2020, growth in water sports and boating activities in Europe and North America raised the demand for smaller boats.
Customers cannot demand a refund during the Coronavirus pandemic period, but they can reschedule, according to a new regulation enforced by governments in various nations such as France and Italy, among others. For example, G Adventure, a Canada-based company, is offering future credits on canceled trips because it supports the global supply chain and also helps them by holding on to their customers through rebooking. Most global charter companies and independent local charter operators are implementing their new booking and payment policies. This will include allowing a smaller down-payment (10-15 percent instead of 40-50 percent) for reserving the charter week and offering free changes to their charter guest bookings within 2020, as well as a minor charge for clients wishing to reschedule bookings to 2021.
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis.
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