Catamarans Market revenue to cross USD 6 Bn by 2028: Global Market Insights Inc.

Selbyville, Delaware, May 16, 2022 (GLOBE NEWSWIRE) —

The catamarans market size is expected to record a valuation of USD 6 billion by 2028, according to the most recent study by Global Market Insights Inc.

The market growth is credited to the high disposable incomes and increasing travel & tourism, adventure, and recreational activities around the globe. Companies operating in this industry are now focusing on building fully-electric catamarans to support climatic conditions and reduce fuel consumption.

The COVID-19 pandemic hampered catamaran sales around the globe due to lockdowns imposed by governments to contain the COVID-19 spread. Disruptions in the travel & tourism industry negatively influenced the catamarans market progression. From mid-2021, the industry experienced a remarkable growth owing to relaxations provided by various governments after significant reductions in COVID-19-infected patients. Furthermore, new product launches by industry players and increasing club activities will create a positive market outlook post the pandemic.

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The powered catamarans market is projected to register a high growth rate during the forecast period. Manufacturers and governments are focusing on producing & promoting electric catamarans on account of their various benefits such as zero emissions and low noise. Innovations in lithium battery packs, such as thermal management and smart energy management, are propelling the sale of electric catamarans. Increasing catamaran demand around the globe is encouraging industry participants to invest in R&Ds for new product innovations. These companies are introducing popular models in untapped markets to increase their customer bases.

Players active in the catamarans market include African Cat, Bavaria Catamarans, Beneteau Group, Catana Group, Fountaine Pajot, Grup Aresa Internacional, Sunreef yacht, Lagoon catamaran, Gemini catamarans, World Cat. Electric catamarans are being manufactured with inbuilt advance technologies by several manufactures in the global market.

Some of the key findings in the catamarans market report include:

  • Rising concerns regarding harmful gas emissions are promoting the use for electric catamarans. Supportive government regulations for electric boats are creating robust market opportunities.
  • Increasing watersports recreational activities in Europe and North America are propelling catamaran sales in the region. Rising water clubs in the region are creating a favorable environment.
  • The booming tourism sector in Thailand, Greece, Croatia, South Africa, Singapore, New Zealand, and Australia is driving the industry growth.
  • Rising consumer disposable incomes are encouraging users to opt for lavish lifestyles and spend their leisure time with luxury amenities, enhancing market representation.
  • The emergence of new market players and the shift of existing industry participants toward electrifying catamarans through solar energy will accelerate the market demand.

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Table of Contents (ToC) of the report

Chapter 3   Catamarans Market Insights
3.1    Industry segmentation
3.2    Russia-Ukraine war impact
3.3    Impact of COVID-19 on catamaran industry landscape
3.4    Industry ecosystem analysis
3.4.1    Component suppliers
3.4.2    Technology providers
3.4.3    Manufacturers
3.4.4    End use landscape
3.4.5    Profit margin analysis
3.4.6    Distribution channel analysis
3.4.7    Vendor matrix
3.5    Investment landscape
3.6    Technology & innovation landscape
3.7    Regulatory landscape
3.8    Industry impact forces
3.8.1    Growth drivers   Growing demand for recreational and leisure activities across the globe   Implementation of advanced technologies in catamarans to enhance safety level   New product launches by market players in Europe and North America   Rapid development of boating sector in Asia Pacific and Europe   Proliferation of travel and tourism industry in LATAM and MEA
3.8.2    Industry pitfalls & challenges   High initial and maintenance costs of catamarans
3.9    Growth potential analysis
3.10    Porter’s analysis
3.11    PESTEL analysis

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About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.