Catamarans Market Ready To Achieve An Outstanding Revenue Growth Of US$ 1.54 Billion By 2023, Says Coherent Market Insights

 

Catamarans Market

Multi-hulled catamarans are regarded as high-end cruising yachts. Traditionally, catamarans were built for racing or competitive sports, but in recent years, cruising catamarans have also been produced. Catamarans are used for a variety of other purposes, such as passenger transportation and military operations, in addition to sports and cruising. Compared to other marine alternatives like boats, yachts, and monohulls, catamaran offers a number of benefits, including improved stability, speed, and manoeuvrability. As a result, catamarans are increasingly being used for recreational and sporting activities. Catamarans typically travel at a speed of 300 nautical miles (560 km) per day, though this can increase to 400 nautical miles during sporting events.

Catamarans offer lots of room, enhanced stability from the support of two hulls, fast sailing without heeling, and safety. This is one of the key advantages that has contributed to the Catamarans Market expansion over the anticipated period (2018–2023). Increased usage of catamarans, their benefits, and technological advancements in catamarans are expected to drive market expansion over the coming years. Catamarans are being used more frequently for a variety of applications as a result of technological developments in cruises, such as increased speed and safety features combined with increased stability. Although it is becoming more and more popular in luxury and leisure applications, it is also becoming more and more common in transportation and military operations.

The Global Catamarans Market Was Valued At US$ 1.12 Billion In 2016 And Is Projected To Reach US$ 1.54 Billion By 2023, Exhibiting A CAGR Of 4.6% Over The Forecast Period.

Catamarans have made improvements in terms of dependability, increased speed, and stability, such as powerful engines and durable hull bodies, which have helped them cover long distances in shorter amounts of time while providing improved comfort and safety. As racing events gain popularity, advanced features in catamarans are required for increased speed and durability as well as space and luxuries features.

Multihulls or catamaran are popular for cruising and relaxing, and have features to offer maximum comfort, see over cabin tops, wide space, and bridge deck clearance, among other performance-based benefits compared to catamaran's power and speed. Cruising catamarans with high performance, comfort, and ease of handling include the Cat 38 offered by Maine Cat Catamaran, the Saona 47 offered by Fountaine Pajot, and the HH-55 offered by HH Catamarans. Additionally, Atlantic Rally-organized events like the World Cruising Events are another factor anticipated to support market expansion during the forecast period.

It is anticipated that North America will continue to dominate the Global Catamaran Market, where it was previously the dominant region. Coherent Market Insights' analysis predicts that North America will grow at a CAGR of 4.2%, from US$417.4 million in 2016 to US$557.8 million in 2023. To increase their market share, major market players are concentrating on releasing new products. For instance, Multihull Central's Aquila 36 is an outboard-powered sport catamaran that was introduced in 2017.

Sunreef Yachts, Spirited Designs, Lagoon Catamaran, Fountaine Pajot, Matrix Yachts, Voyage Yachts, TomCat Boats, Robertson and Caine, and Gemini Catamarans are a few of the major players in the world Catamaran Market.

Get the Press Release of Global Catamarans Market

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