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Catamarans Market Size

Report ID: GMI2642
Published Date: Apr 2022
Report Format: PDF

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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.

Catamarans Market

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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.

Catamarans Market Report Attributes
Report Attribute	Details
Base Year:	2021
Catamarans 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:	Growing demand for recreational and leisure activities across the globe Implementation of advanced technologies in catamarans to enhance safety level New product launches by market players in Europe and North America Rapid development of boating sector in Asia Pacific and Europe Proliferation of travel and tourism industry in LATAM and MEA
Pitfalls & Challenges:	High initial and maintenance costs of catamarans

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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.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of catamarans crossed USD 4 billion in 2021 and is predicted to record over 6% CAGR during the forecast timeline of 2022-2028.

Sailing catamarans captured more than 35% of the market share in 2021 as they are mainly used to spend quality time with family and friends, with sailing speeds lying between 15-30 knots.

15-30-meter catamarans held a dominant share in the overall market in 2021 as these ships are being widely used for corporate parties.

North America catamarans industry valued at USD 1.5 billion in 2021 due to the growing spending capacity of the regional population on outdoor activities.

Robertson & Caine, Fountaine Pajot, Lagoon, Outremer Yachting, Catana Group, and World Cat, among others, are the leading players in this industry.