New York, United States, July 23, 2024 (GLOBE NEWSWIRE) — The Global Catamaran Market is Expected to Grow from USD 1.29 Billion in 2023 to USD 2.25 Billion by 2033, Attaining a Compound Annual Growth Rate (CAGR) of 5.72% during the Forecast Period.

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Catamarans are boats with two hulls connected by a deck or platform. They are often used in marine applications due to their stability, speed, and width. The boating and cruising industries have seen an increase in demand for catamarans due to their unique design and superior performance. A catamaran is a type of boat that has two parallel hulls of equal size and is considered to be more stable than a monohull. The boat was created in the late 20th century and is now widely used worldwide for recreational and sporting purposes. Unlike typical monohull boats, catamarans have two hulls. Increased stability and improved speed are two examples of how technological advances in cruising have led to an increase in the use of catamarans for a variety of purposes. Catamarans are increasingly used for recreational and luxury purposes. They are faster, more stable, and more reliable due to features such as powerful engines and sturdy hulls that allow them to travel longer distances with greater comfort and safety. However, the primary thing holding back the growth of the catamaran market is its expensive entry price. Initially, purchasing a catamaran can be significantly more expensive than purchasing a monohull boat of the same size and functionality.

Check out key industry insights spread across 193 pages of 112 market data tables, figures and charts in the “Report”Global Catamaran Market “Size, Share and COVID-19 Impact Analysis, By Product (Sailing Catamarans, Motor Catamarans), By Size (Small, Medium and Large), By Application (Sports, Recreation, Transportation) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa), Analysis and Forecast 2023 – 2033.”

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In the forecast time frame, the sailing catamaran segment is expected to hold the largest share of the global catamaran market.
Based on product, the global catamaran market is segmented into sailing catamarans and motor catamarans. Among these, the sailing catamaran segment is expected to hold the largest share of the global catamaran market over the forecast time frame. Sailing catamarans are perfect for long-distance voyages and are often used by sailors or sailing enthusiasts. With the right engine and propeller, sailing boats can reach speeds of nine or ten knots and are seaworthy, meaning they can be comfortable while at sea. Sailing management on sailing catamarans has recently become simpler thanks to new designs and technological advancements.

The middle segment is expected to hold the largest share of the global catamaran market in the forecast time frame.
Based on size, the global catamaran market is divided into small, medium and large. Among these, the medium segment is expected to hold the largest share of the global catamaran market in the forecast time frame. A boat or a mid-sized catamaran measuring 30 to 50 feet in length can comfortably accommodate two to four people and has enough space for a cabin. A typical ocean catamaran is 40 to 45 feet in length. By extending the hulls by 10 feet, designers can add a surprising amount of additional facilities.

The recreational segment is expected to hold the largest share in the catamaran market during the forecast period.
Based on application, the global catamaran market is segmented into sports, recreational and transportation. Among these, the recreational segment is anticipated to hold the largest share of the catamaran market during the forecast period. The primary uses of recreational catamarans are recreational and water sports. These vessels can be equipped with luxury accommodations, cabins and other amenities. The increasing demand for luxury, comfort and holiday homes near water bodies, along with rising living standards, is spurring the growth of the recreational catamaran industry.

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Europe is expected to hold the largest share of the global catamaran market during the forecast period.
Europe is expected to hold the largest share of the global catamaran market during the forecast period. With sailing speeds ranging from 15 to 30 knots, sailing catamarans are mostly used for spending quality time with friends and family. With the same monohull length but approximately 40% to 50% faster travel speeds, the demand for these boats will increase, creating positive industry outlooks. Furthermore, Europe’s catamaran market share is growing due to the increasing popularity of fishing and water sports in this region.

North America is anticipated to witness the fastest growth in the global catamaran market during the forecast time frame. Consumer spending on outdoor recreational activities is driving the revenue growth of the market. Customers in the region spend a large amount of money on outdoor activities such as sailing, cruising, and fishing. Consumer spending on outdoor recreational activities is increasing, which is driving the revenue growth in the North America market. The popularity of water sports such as canoeing, rafting, and kayaking in the region is driving the demand for recreational boating.

Competition analysis:

The report offers appropriate analysis of key organizations/companies in the global market along with a comparative assessment primarily based on their product offerings, business overview, geographic presence, corporate strategy, segment market share, and SWOT analysis. The report also offers detailed analysis focusing on current news and developments of the companies including product development, innovations, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and others. This enables an assessment of the overall competition in the market. Major vendors in the global catamaran market include iXblue H2X Division, LeisureCat, Alumarine Shipyard, Seawind, Incat Crowther, Voyage, LOMOcean Design, Matrix Yachts, African Cats, Robertson & Caine, Fountaine Pajot, Lagoon, World Cat, Catana Group, Outremer Yachting, Others.

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Recent developments

• In May 2023, Images of the Granocean shipyard in China have been released to the public. Azure III, the new 32-meter motor catamaran.

• In November 2022, A Memorandum of Understanding (MoU) has been signed between Cochin Shipyard and Inland Waterways Authority of India. The agreement states that Cochin Shipyard will build a hydrogen fuel cell catamaran vessel for Varanasi, Uttar Pradesh.

Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global catamaran market into the following segments:

Global Catamaran Market by Product

• Sailing Catamarans
• Power Catamarans

Global Catamaran Market by Size

Global Catamaran Market by Application

Global Catamaran Market, Regional Analysis

• North America
• Europe
  • Germany
  • England
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • Chinese
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East and Africa
  • UAE
  • Saudi Arabia
  • Train
  • South Africa
  • Rest of the Middle East and Africa

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