Catamaran Market by Product Type (Sailing Catamaran, Powered Catamaran), by Size (Below 15m, 16m-30m, Above 30m), by Application (Sports, Leisure, Transport, Others) and by Region (Europe, North America, Asia Pacific, Africa, Latin America and Middle East) – Size, Share, Outlook, and Opportunity Analysis, 2023 – 2030
Market Overview:
A catamaran is a kind of boat with consist of two hulls rather than a monohull which the earlier designed sailing boats had. They were created to be fishing boats as their usage has expanded at present. Usually, they have much space inside, saloons and cabins instead of a conventional sailing container. The fishing group people Paravas in Tamil Nadu designed the catamaran in the 17th century for the first time. The main advantage of these catamarans was that it had two hulls which provided a lot of constancy and balance in comparison to the other fishing boats of that age. This thought of two-hulled boats was approved by the British and then made popular globally.
Competitive Landscape:
Key players involved in the growth of global Catamaran Market are Travelopia, Kinetic Catamarans, Fountaine Pajot, Grand Large Yachting group, CATANAGROUP, Bavaria Yachtbau GmbH, Lagoon Catamarans, Privilege Catamarans America, Seawind Group Holdings, Pty Ltd, Gemini Catamarans.
Market Key Drivers:
The Global Catamaran Market is estimated to be valued at US$ 1.42 billion in 2022 and is expected to exhibit a CAGR of 5.8 % over the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights. Rising demand for leisure and recreational activities is expected to drive the growth of global Catamaran Market. For instance, as per the Outdoor Industry Association, outdoor recreation in the U.S. produced US$ 459.8 billion in user investment in 2019.
Rising innovations and catamaran technologies by the key players to expand the product is projected to propel the growth of global Catamaran Market. For instance, Lagoon, Fountaine Pajot, and Leopard Catamarans are major producers of luxury catamarans, whereas Sunreef Yachts are proficient in custom-built catamarans.
Covid-19 Impact Analysis:
The COVID-19 outbreak had a significant effect on the global Catamaran Market, with low requirement, disrupted supply chains, and rising costs impacting producers and workers. Anyhow, administrations in the sector have verified resilience by acclimating to varying conditions and exploring novel business models, which assist the organizations growth in the predicted period.
Key Takeaways:
The global Catamaran Market is anticipated to exhibit a CAGR of 5.8 % during the forecast period due to rising models and catamaran designs. For instance, in 2022 Sunreef yacht offerred the Sunreef 49 Power Cat design, which is presently the largest yacht in the fleet, quantifying 160 feet.
Among regions, North America, Europe, and Asia Pacific are expected to witness robust growth in the global Catamaran Market due to rising mergers and acquisitions, increasing launches and product approvals and rising collaborations and partnerships. For instance, In November 2021, Servo Yachts LLC designed The Martini 7.0, a 165-foot catamaran yacht with innovatory tool that cures seasickness in people travelling in yacht.
