Global catamarans are growing steadily in market growth, propelling themselves with the increasing demand for recreational boating, marine tourism, and integration of new technologies in them. The market size is approximately USD 1.9 billion in 2023 and grows at a compound annual growth rate (CAGR) of 5.6% to reach its market value of USD 3.3 billion by 2033.
Get Free Sample Copy of This Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=1488
Key market segments: The catamaran market has two key classification divisions, namely, sailing and powered. As of today, the market share for sailing catamarans is over 50%. Powered catamarans are highly being developed as they provide superior speed, luxury, and stability. The powered catamaran would grow at 6% CAGR through 2033, driven by an increase in disposable incomes and the high demand for luxury products due to its ability to travel at 20-25 knots.
Key Companies Profiled
- Incat Crowther
- Alumarine Shipyard
- Seawind
- Grup Aresa Internaciona
- Voyage
- Lagoon
- Fountaine Pajot
- Robertson & Caine
- Matrix Yachts
- LOMOcean Design
- African Cats
- Bavaria
- Catana Group
- LeisureCat
- Outremer Yachting
Region Wise Analysis: Europe remained the largest market, and it accounted for around 35% of the world catamaran demand in 2022. The region's powerful shipbuilding industry and a surging population of high-net-worth individuals have improved the region's significant market position. In this context, Germany dominated the growth as it has witnessed an increasing luxury yacht sector.
Asia-Pacific region is expected to grow the most over the next ten years with an estimated CAGR of 7.1%. This growth would be driven further due to increasing urbanization, higher disposable incomes, and a rise in marine tourism in countries such as India, China, and Japan. There would also be tremendous fishing activities in the region, which will propel sales of fishing catamarans even more.
Technological Trends: Electrification also another major trend that can be seen in the catamaran market. Start-up companies from Europe specializing in sustainability and electrification are now coming up in boats. Sweden has raised 50 million USD for further increasing the production of X Shore battery-powered leisure boats. Norwegian start-up Evoy is working on electric motors for boats and targeting the replacement of traditional engine filthiness.
Growth Drivers:
Marine Tourism: The interest in marine leisure activities, both sports and cruising, is intensely driving demand for catamarans.
Technological Innovation: The introduction of autonomous features and advancements in electric propulsion will further propel the market.
Demand from Luxury Sources: Growth in high-net-worth individuals, primarily in Europe, has resulted in increased luxury yacht and high-performance catamaran demand.
Challenges: Although the trend in general looks optimistic, there will still be challenges such as the high cost of manufacturing along with the scarcity of docking facilities in places that can hinder growth.
Get Customization on this Report for Specific Research Solutions: https://www.factmr.com/connectus/sample?flag=RC&rep_id=1488
Competitive Landscape
The prominent catamaran producers have concentrated their attention in innovation which would bring about a new technology to enhance their sales prospects as well.
In December 2022, AIIOY, a marine technology start-up founded in Dallas, publicly presented the design of its first autonomous electric-powered 28-foot catamaran. The company seeks to make boating pretty effortless with features such as auto undocking and docking among others.
About Fact.MR :
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client’s satisfaction.
Contact:
US Sales Office
11140 Rockville Pike
Suite 400 Rockville, MD 20852
United States Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Sales Team: sales@factmr.com
