Authored By: Sarah
11 Jul 2024

 Catamaran Market Size to grow by USD 536.1 million between 2024-2028

According to a research report “ Catamaran Market” by Product (Sailing catamarans, Power catamarans) Application (Sport, Leisure, Transport, Others) Geography (North America, Europe, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 536.1 million, at a CAGR of  6.36% during the forecast period. High-net-worth individuals (HNWIs) represent a significant market segment for catamarans, as they are the primary purchasers of these luxury vessels. The expansion of this demographic group is a key driver for catamaran market growth. According to the World Bank, HNWIs, who hold less than 1% of the global population, control over 40% of the world's wealth. This demographic has grown and diversified, with an increasing presence in various regions worldwide. The rise in HNWI population is fueling demand for premium recreational activities, including catamaran boating, which is gaining popularity as a desirable leisure pursuit.

Browse market data tables, figures, and in-depth TOC on “Catamaran Market” by Product (Sailing catamarans, Power catamarans) Application (Sport, Leisure, Transport, Others) Geography (North America, Europe, APAC, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample

 

By Product, the Sailing catamarans segment is projected to dominate the market size in 2024

The global catamaran market's sports segment is poised for substantial expansion during the forecast period. Catamarans are primarily utilized in sports and competitive events due to their exceptional design, enabling optimal performance in racing or cruising applications. These vessels are engineered to withstand rough water conditions, making them ideal for high-performance applications. The sports segment's growth is driven by the escalating popularity of global racing and competitive events, as well as the increasing involvement of manufacturers in regattas. Furthermore, the rising interest in outdoor recreational activities, including cruising, fishing, sailing, and racing, is fueling the demand for catamarans in this segment.

By Application, Sport  segment is expected to hold the largest market size for the year 2024

The sailing catamaran market witnesses significant growth due to its increasing application in passenger transportation, offering a luxurious and comfortable experience. The expanding popularity of sailing as a recreational activity and the rising trend of eco-conscious travel fuel the demand for sailing catamarans. New technologies have made sailing catamarans more fuel-efficient, aligning with environmental concerns. Furthermore, the growing disposable income and the preference of millennials towards sailing catamarans for leisure and commercial purposes propel the market's expansion during the forecast period.

North America is forecasted to hold the largest market size by region in 2024

The North American market dominates the global catamaran industry, underpinned by the surge in popularity of water sports and leisure activities among residents. This region's catamaran market is experiencing exponential growth due to the rising preference for eco-friendly vessels in the yachting, sailing, and water sports sectors. Catamarans' fuel efficiency and low emissions appeal to environmentally conscious consumers and businesses, thereby driving demand. In North America, individual boaters prioritize recreational boating experiences over boat ownership, further fueling the market expansion during the forecast period.

The Catamaran Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Aeroyacht Ltd.
  • African Cats B.V.
  • Aquila
  • Baraca Planet S.L.
  • Bavaria Yachtbau GmbH
  • CATANA Group
  • Fountaine Pajot SA
  • Gemini Catamarans
  • Grand Large Yachting group
  • Groupe Beneteau
  • Kinetic Catamarans
  • Pedigree Cats Inc.
  • Privilege Catamarans America
  • Roberston and Caine
  • Scape Yachts
  • Seawind Catamarans Group
  • The Matrix
  • Travelopia Group
  • VOYAGE Yachts
  • World Cat
.

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Research Analysis Overview

The catamaran market has experienced significant growth in recent years due to increasing consumer spending on boating and cruising. Monohull boats continue to dominate the market, but catamarans are gaining popularity for their stability, spacious living quarters, and ability to accommodate more passengers for island hopping and yacht chartering. OEM investments in advanced technologies such as automatic docking, digital displays, and sustainable fuels have raised the standards of living on catamarans. These vessels offer ample space for water activities, making them ideal for temporary firms and families seeking adventure and relaxation. Hull designs, floor layouts, engine combinations, and power sources vary among popular catamaran brands like Gemini Catamarans, Antares Catamarans, Privilege Catamarans, Nautitech Catamaran, Catana Catamarans, and Outremer catamarans. Monohull owners are also converting to catamarans for their superior stability and liveaboard capabilities. Despite labor shortages, the catamaran market remains robust, with consumers seeking the latest innovations, such as larger cockpits, modern hull designs, and eco-friendly features. As marine tourism continues to grow, the demand for catamarans is expected to increase, making it an exciting time for investors and enthusiasts alike.

Market Research Overview

The catamaran market is experiencing significant growth in the boating industry, with advancements in technology and design driving innovation. Satellite navigation and advanced navigation systems enhance the sailing experience, ensuring safer and more efficient journeys. Hydrodynamics and simulation tools are used in the design process to optimize hull shapes and engine combinations for improved performance and fuel efficiency. Carbon fiber and advanced materials are increasingly used in the construction of catamarans, resulting in lighter, stronger, and more sustainable boats. Diesel engines and electric or hybrid power sources are popular choices for propulsion, with some catamarans even offering automatic docking and digital displays for easy operation. Luxury catamarans offer spacious cabins, saloons, and decks for comfortable lodging and socializing. Water activities, such as water sports and swimming, are easily accessible from the boat's infrastructure. Boat builders and designers continue to innovate, offering floor layouts and engine combinations to cater to various segments, including the large, medium, and small segments. The steadiness and sociability of catamarans make them ideal for cruising and island hopping, with many catamarans available for yacht chartering. OEM investments in sustainable fuels and temporary firm hull designs contribute to the growing popularity of catamarans in marine tourism. With amenities such as sitting areas, galleys, and cabins, catamarans offer a high standard of living on the water. Monohull owners may be drawn to the stability and unique exterior living spaces offered by sailing and power catamarans. The sail handling and engine systems of catamarans provide a smooth and enjoyable boating experience. Overall, the catamaran market is a dynamic and exciting sector of the boating industry, with continued innovation and growth on the horizon.

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Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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