Catamaran Market

Global Market Study on Catamaran: Advancements in Design and Technology Anticipated to Drive the Global Market

Catamaran Market Segmentation by Product Types: Sailing Catamarans and Power Catamarans - Sport | Leisure | Transport

  • November-2022
  • PMRREP33189
  • 296 Pages
  • Automotive
  • PPT, PDF, WORD, EXCEL

Catamaran Market Outlook (2022-2032)

The global catamaran market was valued at US$ 1.4 Billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.3% from 2022 to 2032.

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.

Report Attributes

Details

Catamaran Market Size (2022)

US$ 1.49 Billion

Projected Market Value (2032F)

US$ 2.74 Billion

Global Market Growth Rate (2022-2032)

6.3% CAGR

Key Companies

  • African Cats
  • Bavaria Catamarans
  • Beneteau Group
  • CATATHAI
  • Fountaine Pajot Catamarans
  • Leopard Catamarans
  • NAUTITECH
  • Outremer Yachting
  • Seawind
  • Voyage

Find Out More about the Report Coverage

Companies

  • African Cats.
  • Bavaria Catamarans
  • Beneteau Group
  • CATATHAI
  • Fountaine Pajot Catamarans
  • Leopard Catamarans
  • NAUTITECH
  • Outremer Yachting
  • Seawind
  • Voyage

Demand Analysis of Catamaran (2017-2021) in Comparison to Market Forecast (2022-2032)

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 in the years to come, 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 cancelled 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.

The global Catamaran market size is projected to be valued at USD 2.74 billion in 2032 with an expected compound annual growth rate (CAGR) of 6.3% from 2022 to 2032.

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What is Shaping Catamaran Market Growth Potential?

Rising Advancements in Design and Technology Anticipated to Drive the Global Market

Catamarans have long been appealing because of their stability and size, and they make ideal live-aboard boats for blue water cruising ships for long-distance voyages. By definition, a catamaran has a greater internal room than a monohull due to its two-hull construction. Modern cruising catamaran designs, on the other hand, have progressively evolved into their style, combining the sleek appearance of performance cats with the extra comfort of a luxury yacht.

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.

Because of new technologies, the private, commercial, and military sectors of catamaran design are quickly advancing. Advanced materials and 3D printing will alter catamaran design and building methodologies, while new sustainable fuels will aid in decreasing or even eliminating emissions in the maritime sector.

Innovative hull designs, cutting-edge engine combinations, well-designed floor layouts, and improved power sources will define catamaran designs in the near future. These futuristic catamarans would be controlled by digital displays that included GPS, fish locating software, a 360-degree camera, an automatic docking system, and modern marine music systems. Catamaran production would revolutionize and become quite convenient for regular use with the help of Simplified control design, Smartphone integration for better accessibility, State-of-the-art technology that replaces steering wheels with intelligent screens and two throttles with a single joystick, and Advanced HVAC systems.

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What are Some Factors Restraining Market Growth?

Lack of Infrastructure Restraining the Market Growth

The high cost of research to maintain high-quality standards and comply with the guidelines set by regulatory authorities is likely to restrain the market growth. The major factors that hinder growth of the global Catamaran market include lack of required infrastructure and inadequate funds.

Another frequently claimed disadvantage of catamaran cruising is that these sorts of boats cannot "self-right" themselves in the improbable event of capsizing. Monohull sailboats are built to "right" themselves if they go flipped in high-volume waves during a storm. Catamarans, by definition, cannot accomplish this.

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What Prospects Define Catamaran Market Potential on a Regional Basis?

Rising Development of Healthcare Infrastructure Driving Market For Catamaran

Europe holds the largest revenue share of 36.4%. Asia Pacific is expected to expand at the fastest CAGR of 7.1% throughout the forecast period. The rising number of High-Net-Worth Individuals (HNWI) and the adoption of technologically sophisticated catamarans are the primary drivers driving regional catamaran sales growth in Europe.

Furthermore, the increasing popularity of water sports and fishing activities in this area is boosting Europe's catamaran market share. Consumer spending on outdoor recreational activities is increasing, which is driving market revenue in North America. Consumers in the region are investing heavily in outdoor leisure activities, including fishing, cruise, and boating. The rise of many water sports activities such as kayaking, rafting, and canoeing is fueling a surge in demand for recreational boating throughout the region.

According to the Outdoor Industry Association 2020, the outdoor recreation sector generated US$ 887 Billion in yearly consumer spending, 7.6 million employments, and US$ 125 Billion in federal, state, and local tax revenues each year, consequently increasing market size.

Country-wise Insights

Why are Suppliers of Catamaran Investing in the U.S.?

High Spending on Outdoor Recreational Activities to Drive the Growth Positively

The United States is known for its recreational activities, which makes it a favorable market for Catamaran. Consumer spending on outdoor leisure activities is increasing, which is driving market revenue.

Outdoor recreational activities such as fishing, cruising, and boating are popular among consumers in the region. The popularity of many water sports such as kayaking, rafting, and canoeing is fueling a surge in recreational boating throughout the region.

How will the Asian Countries' Catamaran Market Evolve?

Increasing Tourist Activity to Boost the Regional Market Growth

One of the reasons for the expansion of the catamaran industry is the considerable initiatives taken by the governments of numerous nations in the Asia Pacific area to expand tourist activities. The availability of water resources in this region, such as the extensive coastline, interior lakes, and rivers, can be credited to the market's expansion.

There has been an increase in the number of people in China, India, South Korea, and Japan who are heavily investing in luxury boats and sports. This is going to create profitable opportunities for sales of powered catamarans. Enoshima Islands, Lake Biwa, and Hayama Port across Japan are becoming quite popular for sailing. Consumers are joining sailing schools which will also help in increasing the sales of the sailing catamaran.

Category-wise Insights

Which Type of Catamaran Accounts for the Highest Demand?

Sailing Catamaran Segment to account for a High Market Share

In terms of product, the market is bifurcated into sailing catamarans and power catamarans. Among these, the sailing catamaran segment held the largest revenue share of 54.2% 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.

Power catamarans have a lot of steadiness at anchor and underway and plush exterior living areas compared to that of monohulls. They have a vast, luxurious interior with excellent privacy for guests, as napping accommodations are well parted with en-suite closets and bathrooms and shallow draught. They have limited clearance, and in terms of speed and range, a professionally constructed, dedicated purpose catamaran powerboat surpasses an equivalent monohull powerboat.

Few power catamarans are less expensive to run than monohulls and can compete in economics with trawlers. The efficiency of the hull on power catamarans also allows for speedier movement when needed. For example, a sailing catamaran can reach 9-15 knots, whereas a power catamaran averages around 20-25 knots. The Freeman 47 power catamaran can reach up to 70 knots.

By Size, Which Segment is Driving Market Growth?

Medium Sized Catamaran Type is Expected to Grow at a Significant Rate

In terms of size, the industry is classified into small, medium, and large. Among these, the medium segment dominated in 2021, with a revenue share of 38%. 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.

A large catamaran is longer than 50 feet, and a 50-foot catamaran often has a mirrored floor layout. Each hull of a typical catamaran has the same configuration, that is, if one hull has a toilet and shower in the stern and a private berth in the bow, the second hull will have the same configuration but in the opposite direction.

This is mainly because areas such as the galley and sitting area are retained in the center console, where there is considerably more room to walk around. Spaces used only at night or infrequently are preserved in the thin hulls since this has shown to be a more pleasant layout for personnel.

Which Application is Increasingly Contributing to Market Growth?

Leisure Catamaran Type is Expected to Grow at a Significant Rate

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.

The enhancing standards of living, as well as people's preference for luxury, comfort, and water body holiday houses, are driving the rise of the leisure catamaran market. Furthermore, several measures are undertaken by governments and private groups to encourage leisure boating, and the development of marine and coastal tourism is driving chances for the leisure catamaran industry to flourish.

Competitive Landscape

Top companies in the Catamaran market are focusing on advancing their research and fast-tracking the development of new Catamaran to launch new products and gain a competitive advantage over other market players.

Major players are channelling efforts toward expanding their production capacities to strengthen their market share and cater to the growing demand for fatty amides. Market expansion is anticipated to be aided by the growing number of partnerships and collaborations among key players that are looking to increase their presence in the market.

  • In October 2021, Groupe Beneteau announced that it had acquired STARFISHER, a shipyard in Portugal, which became GB PORTUGAL, which will help them to strengthen the capacity of production for 25 to 35-foot power boats by setting itself up in Portugal.
  • In January 2022, the Martini 7.0, a 165-foot catamaran yacht, featuring unique technology that gives passengers seasickness treatment, was presented by Servo Yachts. The Martini 7.0, created in partnership with the U.K.-based company Shuttleworth Design, has novel marine stabilization techniques that allow the yacht to glide more softly across the water, eliminating the kind of motion that often causes guests to get seasick

Key Segments in Catamaran Industry Research

By Product Type

  • Sailing Catamarans
    • Sport
    • Leisure
    • Transport
    • Others
  • Power Catamarans
    • Sport
    • Leisure
    • Transport
    • Others

By Size

  • Small
  • Medium
  • Large

By Application

  • Sport
  • Leisure
  • Transport
  • Others

By Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

- FAQs -

The global Catamaran market accounts for a revenue of US$ 1.49 billion in 2022.

The global market for Catamaran is expected to reach US$ 2.74 billion by 2032.

Demand for Catamaran from 2022 to 2032 is projected to expand at a stellar CAGR of 6.3%.

The sailing catamaran segment held the largest revenue share of 54.21%

Key suppliers of Catamaran are African Cats; Bavaria Catamarans; Beneteau Group; CATATHAI; Fountaine Pajot Catamarans; Leopard Catamarans; NAUTITECH; Outremer Yachting; Seawind; Voyage and others. 

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