Catamaran Market Expected to Reach $2.7 Billion by 2031—Allied Market Research

According to a recent report published by Allied Market Research, titled, “Catamaran Market by Product Type, Size, and Application: Global Opportunity Analysis and Industry Forecast, 2022–2031,” the global catamaran market was valued at $ 1,583.80 million in 2021, and is estimated to reach $2,704.05 million by 2031, registering a CAGR of 5.46% from 2022 to 2031.

A catamaran is a type of boat or watercraft with two parallel hulls of equal size connected by a platform or deck. The design of a catamaran provides several advantages over traditional mono-hull boats, such as increased stability, speed, and efficiency. Catamarans are used for a wide range of applications, including recreational sailing and cruising, commercial transportation and cargo, and military and defense operations. The size of catamarans can vary from small recreational boats to large ocean-going vessels. Catamarans have become increasingly popular in recent years due to their unique design and capabilities.

The global catamaran market is expected to experience significant growth in the coming years, driven by several key factors. One of the major factors driving market growth is the increasing popularity of recreational water sports and leisure activities, particularly in developed regions such as North America and Europe. The growing interest in yachting, sailing, and water sports has resulted in an increased demand for catamarans, which offer several advantages over traditional mono-hull boats. Another significant driver of market growth is the increasing demand for eco-friendly and sustainable boats. Catamarans are known for their fuel efficiency and low emissions, making them an attractive option for environmentally conscious consumers and businesses. In addition, the rising demand for luxury boats and yachts in emerging markets such as Asia-Pacific and the Middle East is expected to drive growth in the market. The increasing investment in marina and port infrastructure in these regions is also expected to boost demand for catamarans.

By product type, the catamaran market is categorized as sailing and powered catamarans. Among these segments sailing catamaran segment captured the significant market share as compared to powered catamaran segments owing to the higher adoption by individuals. The demand for sailing catamarans is being driven by the growing popularity of recreational boating, as well as increasing awareness of the benefits of sailing catamarans over traditional monohull boats. One company that has seen success in the sailing catamarans is Lagoon, a French catamaran manufacturer. Lagoon specializes in the design and production of sailing catamarans for both private and charter use. The company has been in operation since 1984 and has become a leading brand in the sailing catamarans. In 2020, Lagoon introduced a new model, the Lagoon 55, which features a unique and innovative design that has generated significant interest from customers and industry experts. Lagoon has also been recognized for its commitment to sustainability, with the company implementing eco-friendly practices in its production process.

By size, the catamaran market is categorized as below 15m, 16m-30m, and above 30m. The 16m-30m segment dominated in the global market segment due to the rising use of these types of catamarans for leisure which increases the demand for catamarans. By application, the market is divided into sports, leisure, transport, and others. The leisure segment in dominated in the market as most of the individuals are adopted catamarans for vacations and it offers various luxury benefits for individuals. For instance, in past few years, Lagoon Catamarans has also focused on developing eco-friendly and sustainable catamarans, such as the Lagoon 46, which incorporates a range of green technologies and materials.

The Europe region is analyzed across France, Italy, Netherlands, Germany, and rest of Europe. The Europe catamaran market is projected to experience steady growth in the forecast period due to the increasing demand for catamarans for various purposes by individuals.

Some of the major players in the catamaran market in Europe include Sunreef Yachts, Fountaine Pajot, and Leopard Catamarans. These companies have been investing in R&D to develop more efficient, eco-friendly, and comfortable catamarans. Sunreef Yachts, for instance, has recently launched the Sunreef 80, a luxurious and spacious catamaran designed for long-distance cruising. The company also offers a range of other catamarans, including the Sunreef 50, the Sunreef 60, and the Sunreef 70. On the other hand, Fountaine Pajot has developed the Fountaine Pajot 67, a high-performance luxury catamaran designed for bluewater cruising. The company also offers a range of other catamarans, including the Isla 40, the Lucia 40, and the Saba 50. Overall, the market in Europe is expected to grow in the coming years, driven by increasing demand for leisure and recreational activities, as well as the growing popularity of eco-friendly vessels. Companies in the market are expected to focus on developing more innovative catamarans to cater to the growing demand.

KEY FINDINGS OF THE STUDY

• By product type, the sailing catamaran segment leads the market during the forecast period.
• By size, the below 15m catamarans is expected leads the market during the forecast period.
• By application, the leisure segment is expected to grow at a lucrative growth rate during the forecast period (2022-2031).
• North America is anticipated to exhibit the highest CAGR during the forecast period.

The key market players in the catamaran market are Leopard Catamarans, Outremer catamarans, Beneteau/Lagoon, Fountaine Pajot, Catana Catamarans, Nautitech Catamaran, Privilege Catamarans, Antares Catamarans, Gemini Catamarans, and Seawind Cats.