The global report says, “Catamaran Market is predicted to be valued USD 2.2 billion by 2024.” Increasing participation in recreational boating that includes boat racing, sailing, cruising, and motorsports has led to considerable growth in high performance ships. Proliferating disposable income per capita is among the prominent factors contributing to the increasing popularity of ships that feature comfort, luxurious spaces, and ease of manoeuvrability. Rising awareness of these recreational boats and the number of clients willing to invest in the products are expected to drive the overall catamaran market share from 2018 to 2024.
High consumer inclination towards recreational boating in several developed economies such as the U.S., Germany, France, and Italy has resulted in increased multihull penetration. Proliferating demand for replacing old structures with the advanced models will significantly contribute in revenue generation. Architectural development, technology advancement, economic improvement, and enhanced performance parameters will further drive the catamarans market share.
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In 2016, according to the U.S. National Marine Manufacturer’s Association (NMMA), around 60% of the global catamarans were manufactured in France. In addition, it stated South Africa was the second largest manufacturing nation, wherein 90% of the production was dedicated for exports. Other major economies contributing significantly in the manufacturing sector are the U.S., Germany, Sweden, UK, and Netherland. Moreover, industry participants providing customized features as per client requirement is expected to fuel the global catamaran market growth over the forecast period.
Rising participation in activities such as water sporting, campaigning, and boat racing events are projected to augment the sailing catamaran industry over the forecast period. Advanced models offering improved stability, high speed performance of up to 400 nm per day, and ease of maneuverability are the major factors propelling the segment growth. Additionally, increasing number of international cruising events such as the Cruiser organized by Atlantic Rally will strengthen adoption rate across the globe.
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Powered catamaran industry accounted for 943 units in 2017 owing to strong consumer inclination towards high-speed and fuel-efficient boats over long sea routes. Primary advantage offered by these powered cats is to operate at consistent speeds even in absence of wind. Owing to these factors, the segment has witnessed significant applications in commercial and defense sector.
North America catamaran market will grow at 3.5% from 2018 to 2024. Rising disposable income has led to increased spending on luxury boating activities such as cruisers and yachts, thereby boosting the industry growth. In addition, the U.S. is largest contributor of the recreational boating industry, providing stable growth platform over the forecast timeframe.
Europe accounted for maximum industry share in the global catamarans market owing to the largest manufacturing base. Advanced manufacturing facilities and highly experienced workforce are significantly influencing the global buyers. Industry players such as Fountaine Pajot, Lagoon, Bali, and Catana Group are highly preferred by high-end consumers present across the globe.
Buy this industry insights spread across 250 pages with 278 market data tables & 10 figures & charts from the report, “Catamarans Market Size By Product (Sailing Catamarans [Leisure, Commercial], Powered Catamarans [Leisure, Commercial, Defense]), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Netherland, China, India, Japan, South Korea, Australia, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
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