Market Overview

Catamarans are multi-hulled boats and are considered as luxury cruising yachts. Catamarans were used for racing or sports purposes, however, over the past few years, these have been manufactured for cruising as well. Along with sports and cruising, catamarans are also used for various other applications such as passenger transport and military operations. Catamarans offer multiple advantages such as enhanced stability, speed, and maneuverability over other marine alternatives such as boats, yachts, and monohulls. This has led to high adoption of catamarans for various applications including sports and recreational purposes. The average speed of catamarans is 300 nautical miles (560 km) per day, which can be as much as 400 nautical miles for sporting events.

Catamarans provide ample space, improved stability, due to support from two hulls, high speed, level sailing due to lack of heeling, and safety. This are among the major benefits that has in turn, led to growth of the market over the forecast period (2018–2023).

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Market Dynamics

The market for catamarans is expected to witness growth over the forecast, owing to increasing cruising and racing events organized across regions such as racing championships in Auckland, New Zealand. Catamarans, due to the design and structure, which includes 2 hulls; aids in increasing stability, reliability than mono-hull boats and gain optimum speed of 40 nautical miles, with more space and boarding capacity. These features has led to use of catamarans for cargo carriers and in military operations across the marine. High cost of catamarans is impeding the market growth to some extent as it is affordable by only few people. Cost is the major drawback for catamarans, as the cost ranges between a few hundred thousand dollars to over several million dollars. It is expected to remain as a luxury product. People in countries such as Japan and India have low disposable income and they often rely on chartering catamarans, for tourist destinations such as Thailand and Malaysia, where chartering options are available.

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Some of the key players in the global catamaran market include Sunreef Yachts, Spirited Designs, Lagoon Catamaran, Fountaine Pajot, Matrix Yachts, Voyage Yachts, TomCat Boats, Robertson and Caine, and Gemini Catamarans.

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