Press release
Catamaran Market to Record an Exponential CAGR by 2018 to 2028
A catamaran is a type of ship, vessel, craft or boat with multi-hull, usually two individual hulls, connected to one another. Catamaran consists of two parallel hulls with similar dimensions. Catamaran has a large beam, deck area, above-water capacity, shallower draft and generally less payload capacity as compared to mono hull type boats. Taking same displacement into consideration, catamaran displays greater seakeeping ability as compared to mono hull. Catamaran was designed as a fishing boat, however, now it finds application in a wide range including sailing, rowing vessels, naval ships, car ferries, etc. Catamaran is gaining significant popularity for racing, particularly in countries such as Europe, New Zealand and Australia. Apart from normal sail catamaran, powered catamarans are also gaining significant traction in the market and are becoming quite popular in Caribbean and Mediterranean international charter fleets. The catamaran type vessels/boats have witnessed a significant demand in the market and are expected to continue further. Owing to its increasing demand the global market for catamaran is expected to project substantial opportunities for the manufacturers in the coming years.
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Catamaran Market: Dynamics
The catamaran market has evolved significantly in the present times. From being merely sailboats and fishing boats, catamarans are now used as luxury boats and cruisers. Increasing demand for luxury boats is considered to be the major factor propelling the demand for powered catamaran, which in turn is expected to significantly contribute to the global catamaran market in the coming years. Increasing traction towards marine sports activity in addition with rising demand for catamaran in sports and ocean racing is also estimated to be one of the key factors driving the growth of catamaran market across the globe during the forecast period.
Although the global catamaran market has bright opportunities in the future, the manufacturers of catamaran have to face some challenges regarding the cost and substitute of catamaran. Among the multi-hulls type boats apart from catamaran, there are various other type preferred for better stability and other safety features. This in turn may hinder the growth of the global catamaran market in the coming years.
The ongoing trend is gaining momentum in the global catamaran market, i.e., the manufacturers are focusing on to offer advance technology in the powered catamarans to obtain dominance in the global market.
Catamaran Market: Segmentation
The global catamaran market can be segmented by application, technology and dimension.
On the basis of application, the global catamaran market can be segmented as:
Cruising
Sports
Military
Passenger Transport
On the basis of technology, the global catamaran market can be segmented as:
Sailing Catamaran
Powered Catamaran
On the basis of dimension, the global catamaran market can be segmented as:
Small Size
Medium Size
Large Size
Catamaran Market: Regional Outlook
Catamaran type boats were first introduced in Europe and few other countries, but now it has started gaining popularity across the globe, owing to its wide range of utility. North America is expected to witness an increasing demand in the coming years owing to the use of catamaran in the U.S. Navy for the high speed transport of military cargo. Countries such as India and China also have large-sized catamaran in their navy. Significant presence of manufacturers in various countries of Europe is expected to drive the demand for catamaran in the region. Catamaran is used as passenger transport vessel and also as high speed ferries. This is in turn is expected to add to the growth of catamaran market in various regions across the globe. Increasing application of catamaran in sports activities is anticipated to contribute to the market in oceanic regions such as Australia and New Zealand during the forecast period
Catamaran Market: Key Participants
Examples of some of the market participants identified across the value chain of the global catamaran market include:
Fountaine Pajot SA,
Lagoon Catamaran
McConaghy
Sunreef Yachts
Spirited Designs
Robertson and Caine
Matrix Yachts
Seawind Group Holdings, Pty Ltd.
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