Catamarans Market Size By Product (Sailing Catamarans [Leisure, Commercial], Powered Catamarans [Leisure, Commercial, Defense]), By Size (Below 15m, 15m-30m, Above 30m), By Application (Leisure, Commercial, Defense), COVID-19 Impact Analysis, Regional Out

Catamarans Market Size By Product (Sailing Catamarans [Leisure, Commercial], Powered Catamarans [Leisure, Commercial, Defense]), By Size (Below 15m, 15m-30m, Above 30m), By Application (Leisure, Commercial, Defense), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2028

The global catamaran market is primed to exhibit lucrative growth by 2028 owing to the rapid expansion of the travel & tourism sector. Additionally, increasing inclination of the young population towards cruising and sports activities supported by surging disposable incomes is anticipated to further drive market expansion through the forecast period.

Catamarans have always been popular among designers due to their simultaneous supply of stability and high speed. Since they provide several features, such as superior maneuverability, speed, safety, and stability over other marine alternatives like yachts, boats, and mono hulls, they are considered suitable for leisure and luxury applications. The increase in tourism and water sports activities in outings among millennials has surged product demand in key regions across the globe.

In recent years, technological advancements, such as the incorporation of Artificial Intelligence (AI) in the maritime industry to allow autonomous driving capabilities for supporting the cabin crew have enhanced the boating experience, bolstering consumer appeal.

Moreover, industry players are focusing on product development & innovation to launch sailboats that could help reduce the carbon footprint of the sector, which has positively influenced catamaran market growth. For instance, in February 2022, Robertson & Caine, a key firm in the catamaran space, presented the 4th gen Leopard 53 Powercat – the successor to Leopard 51 Powercat in the company’s power catamaran range – at the Miami International Boat Show. The new model has been redesigned to accommodate the smart and economic benefits of a catamaran and promises 50% higher fuel efficiency than other monohull motor yachts.

Overall, the catamaran market has been bifurcated on the basis of product, size, application, and region. Based on product, the market has been divided into sailing catamaran and powered catamaran. The powered catamaran segment is poised to observe lucrative expansion up to 2028 owing to growing demand for advanced high-speed catamarans.

On the basis of size, the market has been classified into below 15m, 15m - 30m, and above 30m. The above 30m size segment is anticipated to witness substantial growth in demand through the forecast timeframe on account of shifting consumer focus on large and more luxurious catamarans.

With reference to application, the catamaran market has been bifurcated into leisure, commercial, and defense. The commercial segment is poised to record substantial growth by 2028. The proliferating travel & tourism and charter service industries are likely to drive the adoption of catamarans in commercial applications.

From the regional standpoint, the Middle East & Africa catamaran industry is set to observe robust expansion through 2028 owing to the booming travel & tourism industry in MEA.