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Catamarans Market set for massive growth in coming years

Author : Ronak Bora | Published Date : 2019-05-06 

North America catamarans market will grow at 3.5% from 2018 to 2024. Rising disposable income has led to increased spending on luxury boating activities such as cruisers and yachts, thereby boosting the industry growth. In addition, the U.S. is largest contributor of the recreational boating industry, providing stable growth platform over the forecast timeframe.

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Europe accounted for maximum industry share in the global catamarans market owing to the largest manufacturing base. Advanced manufacturing facilities and highly experienced workforce are significantly influencing the global buyers. Industry players such as Fountaine Pajot, Lagoon, Bali, and Catana Group are highly preferred by high-end consumers present across the globe.

Rising participation in activities such as water sporting, campaigning, and boat racing events are projected to augment the sailing catamarans market over the forecast period. Advanced models offering improved stability, high speed performance of up to 400 nm per day, and ease of maneuverability are the major factors propelling the segment growth. Additionally, increasing number of international cruising events such as the Cruiser organized by Atlantic Rally will strengthen adoption rate across the globe.

Powered catamarans market accounted for 943 units in 2017 owing to strong consumer inclination towards high-speed and fuel-efficient boats over long sea routes. Primary advantage offered by these powered cats is to operate at consistent speeds even in absence of wind. Owing to these factors, the segment has witnessed significant applications in commercial and defense sector.

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Increasing participation in recreational boating that includes boat racing, sailing, cruising, and motorsports has led to considerable growth in high performance ships. Proliferating disposable income per capita is among the prominent factors contributing to the increasing popularity of ships that feature comfort, luxurious spaces, and ease of maneuverability. Rising awareness of these recreational boats and the number of clients willing to invest in the products are expected to drive the overall catamarans market share from 2018 to 2024.

Catamarans Market, By Product

  • Sailing Catamarans
    • Leisure
    • Commercial
  • Powered Catamarans
    • Leisure
    • Commercial
    • Defense

In 2016, according to the U.S. National Marine Manufacturer’s Association (NMMA), around 60% of the global catamarans were manufactured in France. In addition, it stated South Africa was the second largest manufacturing nation, wherein 90% of the production was dedicated for exports. Other major economies contributing significantly in the manufacturing sector are the U.S., Germany, Sweden, UK, and Netherland. Moreover, industry participants providing customized features as per client requirement is expected to fuel the global catamarans market growth over the forecast period.

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Major catamarans market players are Catana Group, Outremer Yachting, Fountaine Pajot, Grup Aresa Internaciona, Lagoon, and Robertson & Caine. Other notable players include African Cats, Matrix Yachts, Seawind, LOMOcean Design, Voyage, Incat Crowther, Bavaria, Alumarine Shipyard, and LeisureCat. They are focused on developing high speed boats that feature improved structural stability with improved performance. Manufacturers are also emphasizing on reducing sailor risk in the event of extreme weather conditions.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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