Global Catamarans Market size was worth around USD 1.5 billion in 2017 and will witness over 6.5% CAGR up to 2024. Various advantages offered such as ample space, relaxing comfort, and sailing stability in comparison to conventional monohull counterparts including yachts, boats, and cruises.
In conjunction with these surging recreational activities, exploring new destinations and spending quality time with family and friends leading toward high adoption, fueling the global catamaran market size from 2018 to 2024. Technological advancement with the use of lightweight aluminum foil offering most advanced multihull cruises with enhanced speed, and improved stability in sea are propelling catamarans market share.
The performance of these multihulls in water is substantially affected due to improper and unbalanced load placement, causing loss of efficiency and fuel wastage. Windage factor, slamming of bridgedeck owing to high waves, and light displacement enhances the handling complexity making training mandatory for the beginners.
Sailing catamarans market volumes are anticipated to witness 2.7% CAGR over the forecast timeline. Rising demand of engine powered boats owing to better speed in comparison to mono-hulls at higher fuel economies are instigating industry demand. The defense segment is expected to grow at over 3.3% from 2018 to2024.
U.S. catamarans market size is expected to surpass volume of over 567 units by 2024, witnessing 3.4% CAGR over the forecast period. Strong economic growth, higher leisure spending, and large spending population are among key aspects expected to enhance the industry penetration. France has captured more than 60% production share owing to its strong structure and construction by lightweight material.
Key players include Lagoon, Robertson & Caine, World Cat, Fountaine Pajot, Catana Group, and Outremer Yachting. Few other major industry participants include LeisureCat, iXblue H2X Division, Alumarine Shipyard, Incat Crowther, Seawind, Voyage, LOMOcean Design, African Cats and Matrix Yachts.
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Catamarans Market Size By Product