Catamarans Market Booming the Industries by Ravisisng keyplayers | Sunreef Yachts, Spirited Designs, Lagoon Catamaran, Fountaine Pajot, Matrix Yachts, Voyage Yachts, TomCat Boats, Robertson and Caine, and Gemini Catamarans.

Catamarans are multi-hulled boats and are considered as luxury cruising yachts. Catamarans were used for racing or sports purposes, however, over the past few years, these have been manufactured for cruising as well. Along with sports and cruising, catamarans are also used for various other applications such as passenger transport and military operations.

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Catamarans provide ample space, improved stability, due to support from two hulls, high speed, level sailing due to lack of heeling, and safety. This are among the major benefits that has in turn, led to growth of the market over the forecast period (2018–2023).

Increasing applications and advantages offered by catamarans and increasing advancements in technology in catamarans is fuelling growth of the market during forecast period

Technological advancements in cruises such as enhanced speed and safety features coupled with increased stability have led to increased adoption of catamarans for various application. It is increasingly being used for luxury and leisure application, however, it is also gaining popularity in military operations and transportation as well.

North America was the dominant region in the global catamaran market, and is expected to retain its dominance over the forecast period. According to Coherent Market Insights’ analysis, North America is expected to exhibit a CAGR of 4.2% to reach US$ 557.8 Mn by 2023 from US$ 417.4 million in 2016.

Key players in the market are focusing on launching new products, in order to enhance its market share. For instance, Aquila 36 is an outboard powered sport catamaran offered by Multihull Central, which was launched in 2017.
Some of the key players in the global catamaran market include Sunreef Yachts, Spirited Designs, Lagoon Catamaran, Fountaine Pajot, Matrix Yachts, Voyage Yachts, TomCat Boats, Robertson and Caine, and Gemini Catamarans.

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Detailed Segmentation:

• Global Catamaran Market, By Product Type:

o Sail-powered
o Engine-powered
o Others

• Global Catamaran Market, By Application:

o Sport
o Cruising
o Others

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This release was published on openPR.