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Catamarans Market Size
Catamarans Market size exceeded USD 4 billion in 2021 and is anticipated to grow at over 6% CAGR between 2022 and 2028. Increasing disposable incomes have given rise to travel & tourism activities, propelling cruising, sailing, and water sports activities. The surge in leisure activities, spending quality time with friends & family, and exploring new destinations is leading to the market growth.
Increasing level of nautical tourism is further supporting catamarans industry demand. As per the United Nation World Tourism Organization 2022 report, the tourism sector of Europe and the Americas witnessed a growth of 19% and 17%, respectively. International tourist arrivals increased by 4% in 2021.
Rapid technological advancements along with the use of lightweight aluminum foil, offering highly advanced multihull cruises with improved speed & stability in sea, are augmenting the catamarans market demand. Catamaran is used in luxury & leisure applications by the upper-income group, improving market representation.
The performance of catamarans in water was significantly impacted owing to improper load placements, causing fuel wastage and affecting the overall efficiency. Moreover, bridgedeck slamming due to high waves and the windage factor increase the handling complexity. This makes training mandatory for beginners, thereby increasing maintenance cost. These are among the major factors that will challenge the market revenue.
| Report Attributes | Details |
|---|---|
| Base Year: | 2021 |
| Market Size in 2021: | USD 4 Billion |
| Forecast Period: | 2022 to 2028 |
| Forecast Period 2022 to 2028 CAGR: | 6% |
| 2028 Value Projection: | USD 6 Billion |
| Historical Data for: | 2018 to 2021 |
| No. of Pages: | 150 |
| Tables, Charts & Figures: | 341 |
| Segments covered: | Product, Size, Application |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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The COVID-19 pandemic negatively affected the industry fueled by the global lockdown and restrictions on travel & tourism. Lockdowns resulted in the shutdown of manufacturing facilities, unavailability of labor, and raw material shortages on account of disturbances in supply chain. Industry participants faced significant financial constrains by temporary business closures. However, the catamarans industry is estimated to experience an upward trend after the pandemic impelled by government initiatives to enhance marine tourism and investments by OEMs for new product innovations.
Catamarans Market Analysis
The Europe sailing catamarans market held more than 35% of the revenue share in 2021. Sailing catamarans are majorly used to spend quality time with friends & family, with the sailing speeds at 15-30 knots. Rising demand for these boats with similar mono-hull lengths and around 40%– 50% greater traveling speeds will create a positive industry outlook. Growing popularity of sailing sports events, such as Atlantic Rally and America’s Cup for Cruisers, has led to increased market demand.
The 15 to 30 meters segment acquired the largest market share in 2021. The rising usage of 15 to 30 meters catamarans for corporate parties and the growing integration of advanced safety features OEMs is supporting the industry statistics. Various companies such as Lagoon, KNYSNA YACHT COMPANY (PTY) LTD, NAUTITECH CATAMARANS and Seawind Group Holdings, Pty Ltd. are unveiling their new products in this segment to enhance brand value as well as customer base.
North America catamarans market size valued at USD 1.5 billion in 2021, with about 1,500 new catamarans sold. Increasing consumer spending on outdoor recreational activities is fueling the market revenue. Consumers in the region are making large investments in outdoor recreational activities such as fishing, cruising, and boating.
The emergence of several watersports’ activities including kayaking, rafting, and canoeing is creating a huge demand for recreational boating across the region. As per the Outdoor Industry Association 2020, the outdoor recreation economy accounted for USD 887 billion in annual consumer spending, contributing 7.6 million jobs to the U.S. economy and generating USD 125 billion in federal, state, and local tax revenues each year, thereby boosting the market size.
Catamarans Market Share
Companies are emphasizing on expanding their manufacturing facilities and showrooms to strengthen their market share. They are launching advanced & efficient sail boats to reduce carbon footprints.
The key catamarans market players include:
- Robertson & Caine
- Fountaine Pajot
- Lagoon
- World Cat
- Catana Group
- Outremer Yachting
- iXblue H2X Division
- LeisureCat
- Alumarine Shipyard
- Seawind
- Incat Crowther
- Voyage
- LOMOcean Design
- Matrix Yachts
- African Cats
These OEMs are emphasizing on offering multihull boats with enhanced designs for passenger transport and cruise applications.
This market research report on catamarans includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipment in units from 2018 to 2028 for the following segments:
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Market, By Product
- Sailing catamarans
- Leisure
- Commercial
- Powered catamarans
- Leisure
- Commercial
- Defense
Market, By Size
- Small (Below 15m)
- Medium (15m-30m)
- Large (Above 30m)
Market, By Application
- Leisure
- Commercial
- Defense
The above information has been provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand (ANZ)
- Latin America
- Brazil
- Mexico
- MEA
- UAE
- South Africa
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