Catamarans Global Market Report 2024

The catamarans market size has grown strongly in recent years. It will grow from $1.43 billion in 2023 to $1.53 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. During the historical period, the growth in the catamaran industry can be attributed to several factors including the increasing popularity of leisure and recreational boating, rising trends in cruising and chartering, competitive sailing and racing events, the appeal of luxury yachting and marine tourism, as well as the recognized advantages offered by multihull vessels.

The catamarans market size is expected to see strong growth in the next few years. It will grow to $1.96 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. Anticipated growth in the upcoming period is expected to be driven by several factors, including a heightened interest in sustainable boating practices, ongoing innovations in design and materials used in catamarans, the emergence of niche markets within the industry, increased affordability and accessibility of catamaran vessels, as well as the growth of marine tourism in emerging regions. Key trends projected in the forecast period encompass the popularity of racing catamarans and competitive sailing events, the expansion of charter and rental services catering to catamaran enthusiasts, advancements in navigation and control systems for improved vessel performance, the development of compact and trailerable catamarans for ease of transportation, and the expansion of the global market for catamaran products and services.

The catamaran market is experiencing growth driven by an increase in cruising activities. Cruising, typically undertaken for pleasure or vacation purposes, involves traveling on a ship or boat, often stopping at various ports or destinations. Catamarans have become a popular choice for cruising, combining the freedom of sailing with the comfort and amenities associated with conventional cruise ships. The rising trend in cruising is evident in statistics from February 2022, indicating a global increase in ocean cruise passenger capacity to 581,200 across 323 ships by the end of 2021. According to Prosertek, a Europe-based harbor equipment and machinery manufacturer, there was a 96% year-on-year increase in the number of passengers on cruise ships in 2021, reaching a total of 13.9 million. This surge in cruising activities is a key driver propelling the growth of the catamaran market.

The growth of the catamaran market is further fueled by the increasing participation in water sports activities. Water sports encompass a diverse range of recreational activities conducted on or in the water, offering enthusiasts a sensational and relaxing experience. Catamarans are well-suited for water sports activities, providing opportunities for sunbathing, swimming, snorkeling, kayaking, and stand-up paddleboarding. According to the Royal Yachting Association's annual Watersports Participation Survey in June 2022, approximately 11.8 million people participated in one or more boating activities in 2021, nearly doubling from the previous year. This substantial increase in water sports activities contributes significantly to the growth of the catamaran market.

Product innovation emerges as a key trend driving growth in the catamaran market, with major players focusing on developing new technologies and solutions to enhance environmental sustainability and efficiency. For instance, in March 2023, Alva Yachts GMBH, a German-based electric luxury yacht brand specializing in solar-driven catamarans, launched the Ocean Eco 78. This 23.7-meter multihull yacht features electric propulsion and a transatlantic range. Its expansive roof integrates solar panels, providing a transatlantic range and virtually unlimited autonomy. With solar cells generating up to 26 kW and a battery bank capacity of up to 490 kWh, this innovation showcases the industry's commitment to reducing environmental impact and advancing technological capabilities in the catamaran market.

Major companies in the catamaran market are strategically focusing on the introduction of next-generation products, particularly eco-friendly catamarans, to establish a competitive advantage. Eco-friendly catamarans are specifically designed with a strong emphasis on sustainability and minimizing environmental impact. An example of this commitment is demonstrated by The Italian Sea Group, an Italy-based company in the yachting industry. In September 2023, they launched the S/Y Art Explorer, marking the first sailing catamaran in the Perini Navi fleet, an Italian yacht manufacturer. The Art Explorer project reflects a two-year initiative dedicated to environmental awareness and creative experiences worldwide. Notably, the catamaran features an all-carbon sail plan with a 55-meter mast and incorporates 65 square meters of solar panels on the deckhouse roof. These solar panels boast a 12-kW peak power output and can store over 200 kW of energy daily. The integration of a lithium battery bank ensures continuous power, allowing the catamaran to operate at full capacity for over six hours with zero emissions.

In May 2023, Nimbus Group, a Swedish boat manufacturer, made a strategic move by acquiring Edge Water Powerboats for $9.5 million. This acquisition enables Nimbus Group to expand its footprint in the US market and diversify its product offerings for customers. Edge Water Powerboats, a US-based manufacturer specializing in outboard-powered center console saltwater boats, including catamarans, adds to Nimbus Group's product portfolio and enhances production capacity in the US. This strategic acquisition aligns with Nimbus Group's growth objectives and strengthens its position in the competitive catamaran market.

Major companies operating in the catamarans market report are African Cats B V, Voyage Yachts Ltd., Bavaria Yachtbau GmbH, Catana Group SA, Seawind Group Holdings Pty Ltd., Outremer Catamarans, Fountaine Pajot SA, LeisureCat & AussieCat, Robertson & Caine Ltd., Matrix Yachts Ltd., Catathai Co. Ltd., Lagoon Catamarans, Incat Crowther Pty Ltd., Craig Loomes Design Group ltd., Aresa Shipyard SL, Leopard Catamarans, Beneteau SA, Nautitech Catamaran, Privilege Catamarans, Antares Catamarans, Gemini Catamarans, Kinetic Catamarans, Aquila Inc., Baraca Planet S.L., Pedigree Cats Inc., Scape Yachts, The Matrix, Travelopia Group, Nichols Brothers Boat Builders LLC, Corinthian Yachts Inc., World Cat Ltd., Alumarine Shipyard, iXblue SAS.

Europe was the largest region in the Catamarans market in 2023. The regions covered in the catamarans market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the catamarans market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main categories of catamarans are sailing catamarans and powered catamarans. Sailing catamarans are sailboats featuring two hulls parallel to each other, connected by a deck. They come in various sizes categorized as small (below 15 meters), medium (15 meters to 30 meters), and large (above 30 meters), serving purposes such as leisure activities, commercial use, defense applications, and other miscellaneous uses.

The catamarans market research report is one of a series of new reports that provides catamarans market statistics, including catamarans industry global market size, regional shares, competitors with a catamarans market share, detailed catamarans market segments, market trends and opportunities, and any further data you may need to thrive in the catamarans industry. This catamarans market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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