BANGALORE, India, Sept. 7, 2022 /PRNewswire/ — The Catamaran Market is segmented by Type – Sailing Catamarans, Powered Catamarans, by Application – Sport, Cruising, Ocean Racing, Passenger Transport, Others. Global Opportunity Analysis and Industry Forecast 2022 – 2028. It is published in Valuates Reports under the Heavy Machinery Category.
The global Catamaran market size is estimated to be worth USD 1485.2 million in 2022 and is forecast to be a readjusted size of USD 1868.4 million by 2028 with a CAGR of 3.9% during the forecast period 2022-2028.
The Major Factor Driving The Catamaran Market are:
Catamaran market has benefited from rising travel and tourism due to rising disposable incomes. Furthermore, an increase in leisure activities, spending quality time with friends and family, and traveling to new places is driving the Catamaran market expansion.
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TRENDS INFLUENCING THE GROWTH OF CATAMARAN MARKET
The catamaran market will be impacted by the growing demand for maritime tourism. To improve performance and the customer experience, manufacturers emphasize the inclusion of luxuries. In order to provide a smooth vacation experience with high standards and comfort, catamarans are also available for rent from a number of manufacturers to explore various islands and coastlines.
Catamarans are now much more in demand than they were previously. This can be attributed to a change in people’s lifestyles brought on by a rise in high-net-worth individuals, a rise in interest in leisure and recreational pursuits, and a rise in the popularity of marine tourism.
Furthermore, due to their size and stability, catamarans have long been popular due to their suitability as live-aboard boats or bluewater sailing ships for lengthy journeys. Modern cruising catamaran designs have gradually developed into their own style, fusing a luxury yacht’s added comfort with the sleek appearance of performance cats. Catamarans that are faster and more fuel-efficient are being produced by boat manufacturers as a result of design and technological developments. This in turn is expected to drive the catamaran market.
However, the high cost of catamarans and an increase in boating-related accidents and fatalities are two factors that are thought to be restricting the catamaran market’s growth. On the other hand, increasing technological developments in catamarans to increase safety are anticipated to create a wide range of market expansion prospects in the years to come.
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CATAMARAN MARKET SHARE ANALYSIS
Based on the Type, While the powered catamaran category had significant growth during the forecast, the sailing catamaran segment continued to have a sizable market share. The handling of sails on sailing catamarans has become simpler because of new designs and technical advancements. Sailboats can carry multiple passengers at once, which promotes sociability and makes them tranquil. Per cubic foot of volume, sailing catamarans are also less expensive.
Based on Application, the sports industry is expected to account for a sizable portion of the market.
Europe accounted for 33% of the worldwide market, the United States for 28%, Japan for roughly 15%, and Southeast Asia, which includes China, for about 10%. The adoption of modern catamarans and the rise in High-Net-Worth Individuals (HNWI) are the main forces behind the increase in regional catamaran sales. Additionally, the increasing popularity of fishing and water sports in this area is assisting the market share of catamarans in Europe.
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Market By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
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Key players
- Sunreef Yachts
- Spirited Designs
- Lagoon catamarans
- Fountaine Pajot Catamarans
- Matrix Yachts
- Voyage
- TomCat Boats
- Alibi
- Robertson and Caine
- Gemini Catamarans
- World Cat
- Outremer Yachting
- Scape Yachts
- Seawind Caramarans
- Pedigree Cats Catamaran
- Defline
- Farrier Marine
- CATATHAI
- African Cats
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– The global yacht charter market was valued at USD 15,205.24 Million in 2018, and is projected to reach USD 27,793.57 Million by 2027, registering a CAGR of 15.0%.
– In 2020, the global Fast Rescue Boat market size was USD 216 Million and it is expected to reach USD 244.9 Million by the end of 2027, with a CAGR of 1.8% during 2021-2027.
– In 2020, the global Pleasure Boat Varnish market size was USD 267 Million and it is expected to reach USD 358.3 Million by the end of 2027, with a CAGR of 4.7% during 2021-2027.
– In 2020, the global Marine Composites market size was USD 1335 Million and it is expected to reach USD 1832.3 Million by the end of 2027, with a CAGR of 4.6% during 2021-2027.
– The global Marine Composites market size is estimated to be worth USD 1468.8 million in 2022 and is forecast to a readjusted size of USD 1923.8 million by 2028 with a CAGR of 4.6% during the review period.
– The global Mooring Inspection market size is projected to reach USD 348.3 million by 2028, from USD 280 million in 2021, at a CAGR of 2.7% during 2022-2028.
– In 2020, the global Maritime Fenders (Marine Fender) market size was USD 663.6 Million and it is expected to reach USD 842.3 Million by the end of 2027, with a CAGR of 3.5% during 2021-2027.
– In 2020, the global Trim System for Boats market size was USD 79 Million and it is expected to reach USD 114 Million by the end of 2027, with a CAGR of 5.3% during 2021-2027.
– In 2020, the global Personal Watercraft market size was USD 1559 Million and it is expected to reach USD 2346.2 Million by the end of 2027, with a CAGR of 6.0% during 2021-2027.
– The global Outboard Engine market size is estimated to be worth USD 4621.5 million in 2022 and is forecast to be a readjusted size of USD 5518.3 million by 2028 with a CAGR of 3.0% during the review period.
– In 2020, the global Outboard Electric Motors market size was USD 125 million and it is expected to reach USD 214 million by the end of 2027, with a CAGR of 8.0% during 2021-2027.
– The global Business Travel Market size was valued at USD 695.9 billion in 2020 and is projected to reach USD 2001.1 billion by 2028 growing at a Compound Annual Growth Rate (CAGR) of 13.2% from 2021-2028.
– The global Online Travel market size is projected to reach USD 1012890 million by 2028, from USD 593480 million in 2021, at a CAGR of 7.5% during 2022-2028.
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