Catamarans Market Analysis | CMI

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CATAMARANS MARKET ANALYSIS

• Catamarans Market - by Product Type (Sailing
  Catamarans and Engine-powered catamarans), by
  Application (Cruising and Sporting), and by
  Regions - Global Industry Insights, and Forecast
  till 2023
• 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.

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Market Drivers

• Along with sports and cruising, catamarans are
  also used for various other applications such as
  passenger transport and military operations.
  Catamarans offer multiple advantages such as
  enhanced stability, speed, and maneuverability
  over other marine alternatives such as boats,
  yachts, and monohulls. This has led to high
  adoption of catamarans for various applications
  including sports and recreational purposes. The
  average speed of catamarans is 300 nautical miles
  (560 km) per day, which can be as much as 400
  nautical miles for sporting events.
• 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 (20182023).

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Figure 1. Global Catamaran Market, Key Impact
Forces
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Market Opportunities

• 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. Advancements in terms of
  reliability and enhanced speed and stability such
  as powerful engines and durable body of the hulls
  has aided catamarans to scale large distance in
  shorter time periods and offer enhanced comfort
  and safety. The racing events are gaining
  traction and are demanding advanced features in
  catamarans for enhanced speed and durability
  along with space and luxury features.

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• Catamaran or multihulls are popular for cruising,
  relaxing, and has features to provide maximum
  comfort, see over cabin tops, wide space, and
  bridge deck clearance and several other
  performance based advantages in relation to power
  and speed catamaran. Cruising catamarans such as
  Cat 38 offered by Maine Cat Catamaran, Saona 47
  offered by Fountaine Pajot, and HH-55 offered by
  HH catamarans are all high performance,
  comfortable, and easy-to-handle cruising
  catamarans. Also, events such as World Cruising
  Events organized by Atlantic Rally, is also
  another factor expected to aid in growth of the
  market over the forecast period.
• Catamarans offer enhanced speed, however, reduces
  load per unit of cost. Along with speed,
  catamarans draw much less water than monohulls,
  which is as less as 3 feet. This allows avoidance
  of shoals and ease beaching the boat to work on
  the bottom.

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Market Restraints

• However, the added beam of a catamaran may cause
  problems for docking or hauling out by a
  boatyard. Moreover, catamarans have added expense
  for having two engines and two rudders, which is
  are factors negatively affecting growth of the
  market.

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Segment Information

• 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.
• Catamaran are especially popular for sports in
  North America, Europe, and certain parts of Asia
  Pacific region such as Australia. A variety of
  sailing catamarans and foiling catamarans have
  been used in Olympic sailing competitions.

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Key Developments

• 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.

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Competitive Section

• 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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