BANGALORE, India, September 7, 2022 /PRNewswire/ — The Catamaran market is segmented by Type – Sailing Catamarans, Power Catamarans, by Application – Sport, Cruising, Ocean Racing, Passenger Transport, Other. Global Opportunity Analysis and Industry Forecast 2022 – 2028. It is published in Appreciate the reports under the Heavy machinery Category.
The size of the global catamaran market is estimated to be worth $1485.2 million in 2022 and should have a readjusted size of $1868.4 million by 2028 with a CAGR of 3.9% during the forecast period 2022-2028.
Key factors driving the Catamaran market are:
The catamaran market has benefited from the rise in travel and tourism due to rising disposable incomes. Additionally, an increase in leisure activities, spending quality time with friends and family, and traveling to new places is driving the expansion of the catamaran market.
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TRENDS INFLUENCING THE GROWTH OF THE CATAMARANS MARKET
The catamaran market will be impacted by the growing demand for maritime tourism. To improve performance and customer experience, manufacturers emphasize the inclusion of luxury products. In order to provide an enjoyable holiday experience with high standards and comfort, catamarans are also available for charter from a number of manufacturers to explore various islands and coastlines.
Catamarans are now much more in demand than they were before. This can be attributed to a change in people’s lifestyles brought about by an increase in the number of wealthy people, an increased interest in hobbies and recreational activities, and an increase in the popularity of maritime tourism.
Additionally, due to their size and stability, catamarans have long been popular due to their suitability as cruisers or sailboats for long journeys. Modern cruising catamaran designs have gradually developed in their own unique style, merging the added comfort of a luxury yacht with the sleek appearance of performance cats. Faster and more fuel efficient catamarans are being produced by boat builders thanks to developments in design and technology. This in turn should boost the catamaran market.
However, the high cost of catamarans and the increase in boating-related accidents and fatalities are two factors that would limit the growth of the catamaran market. On the other hand, increasing technological developments in catamarans to increase safety are expected to create a wide range of prospects for market expansion in the coming years.
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ANALYSIS OF CATAMARANS MARKET SHARES
On the basis of type, while the power catamarans category witnessed significant growth during the forecast, the sailing catamarans segment continued to hold a major market share. The handling of sails on sailing catamarans has become easier due to new designs and technical advancements. Sailboats can carry several passengers at the same time, which promotes sociability and makes them quiet. Per cubic foot of volume, sailing catamarans are also less expensive.
According to Application, the sports industry is expected to account for a significant share of the market.
Europe accounted for 33% of the world market, United States for 28%, Japan for about 15%, and South East Asiaincluding China, for about 10%. The adoption of modern catamarans and the increase in the number of high net worth individuals (HNWIs) are the main drivers for the increase in regional catamaran sales. Additionally, the growing popularity of fishing and water sports in this region is contributing to the market share of catamarans in Europe.
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Market by region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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- Sunreef Yachts
- Fiery designs
- Lagoon catamarans
- Fountaine Pajot catamarans
- Matrix yachts
- TomCat boats
- Robertson and Caine
- Gemini Catamarans
- world cat
- Overseas Yachting
- Getaway yachts
- Caramaran Seawind
- Pedigree Catamaran Cats
- Marine farrier
- African Cats
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