Sailing, cruising, water sports, and campaigning have allseen an increase in popularity as disposable income has increased. Exploringnew areas and spending quality time with family and friends in the absence ofexternal disturbance are boosting the global catamaransmarket size from 2018 to 2024, in tandem with these growingrecreational activities.
Catamarans market is gaining market share thanks totechnological advancements such as the use of lightweight aluminium foil, whichallows for the most advanced multihull trips with increased speed and improvedsea stability. The upper-class end user prefers it for luxury and leisureapplications. Furthermore, advances in engine-powered ships provideextraordinary speed, improved motion stability, high reliability, loweraccidental chances, and improved fuel efficiency and speeds.
Over the forecast period, the market for sailing catamaransmarket is expected to grow at a rate of 2.7 percent. With sailing speeds of9-10 knots, these are popular for spending quality time with family andfriends. Increasing demand for travel speeds 20-50 percent quicker thanmono-hulls of comparable length will create a potential growth environment. Theprominence of sailing sports competitions such as the America's Cup and theAtlantic Rally for Cruisers has fueled demand for high-performance cats.
From 2018 to 2024, the defence sector is predicted to growat a rate of over 3.3 percent. More than 80 Type 22 Houbei-Class stealthcatamarans with fast-attack missile boats have been manufactured in China.Because of improved stability during conflict situations, the country islargely focusing on the adoption of sophisticated surface ships to reinforcecoastal safety and security. These multihulls were used by the US Navy asExpedition Fast Transport to transport 600 short tonnes of military cargo andover 312 troops. Such possible applications might be employed to improvenational security, presenting a potential growth environment for the global catamaransmarket.
Market for Catamarans by Region
By 2024, the Catamarans Market in the United Statesis estimated to reach approximately 567 units, representing a 3.4 percent CAGRover the forecast period. Strong economic development, more leisureexpenditure, and a huge consumer base are all predicted to boost industrypenetration. The region is one of the largest spenders on recreational boatingactivities in terms of revenue.
Market Share in a Competitive Environment
The vast number of players in the industry is a majordistinguishing feature. Lagoon, Robertson & Caine, World Cat, FountainePajot, Catana Group, and Outremer Yachting are some of the leading players witha global presence and significant industry dominance. LeisureCat, iXblue H2XDivision, Alumarine Shipyard, Incat Crowther, Seawind, Voyage, LOMOcean Design,African Cats, and Matrix Yachts are a few other important industry players. Innations with significant market demand, these companies are increasinglyfocusing on producing multihull designs boats for cruise and passengertransport applications.
Background in the Industry
Multi-hulled watercraft have two parallel hulls of equalsize that provide excellent stability. Catana, Dolphine, and Outremer are threeof the most powerful non-charter performance cruising brands. Austral Limitedannounced a capacity expansion investment of roughly USD 30 million in 2018,with an emphasis on commercial building facilities in Asia and Australia.Austral is concentrating on the Henderson business, which is building a USD 100million high-speed, 109-meter catamaran ferry for Denmark's mol lines.
Because of the growing tendency of catamarans being utilisedfor cruising in numerous locations, the cursing sector is likely to dominatethe market over the forecasted period.
