Catamaran Market

Catamaran Market Outlook (2023 to 2033)

The global catamaran market stands at US$ 1.9 billion in 2023 and is estimated to progress at 5.6% CAGR over the next ten years to secure a market valuation of US$ 3.3 billion by 2033-end.

A catamaran is a type of boat that features two parallel hulls of equal size and is known for its better stability than monohull watercraft. The boat was developed in the second half of the 20th century and is widely used for sports activities and recreational purposes across the world.

Growing per capita disposable income of individuals across the world is forecasted to be a central factor driving sales of products such as mini catamarans, inflatable catamarans, etc. There has also been an increase in the number of water sporting and racing events in recent years and this is also projected to uplift shipments of catamarans over the coming years.

The comfortable nature of catamarans makes them a popular choice among customers who prefer luxury products and this also makes them a highly suitable choice for long-distance voyages. Supportive initiatives to promote marine tourism, growing per capita spending potential of consumers, changing standards of living, advancements in boat designs, and adoption of novel technologies are other prospects that could potentially bolster market evolution throughout the forecast period.

Increasing use of catamarans as a transport and leisure watercraft in many parts of the world is expected to open up new opportunities for upcoming and established catamaran producers alike. Rising number of people opting for boat charter services is also expected to create lucrative business potential in the long run.

• In January 2023, St. Pete Pier announced that it would be hosting a Gasparilla Pirate Fest trip on January 28, on The Pelican, a 60-foot catamaran. The party will be launched from the pier at 8:30 am and is expected to return at 4 pm on the same day.

Europe is anticipated to be the leading market for catamarans across the forecast period and beyond, which can be ascribed to the presence of a large shipbuilding industry and the presence of key boat manufacturers. In 2022, demand for catamarans in Europe held a share of around 35% in the global industry landscape and this stance is anticipated to be maintained through 2033 with Germany leading the regional market growth.

A comprehensive study of factors such as product standards, local supply, global demand, pricing trends, and other aspects influencing market growth has been discussed in this recently updated catamaran market research report by Fact.MR, a market research and competitive intelligence provider.

Report Attributes	Details
Catamaran Market Size (2023)	US$ 1.9 Billion
Projected Market Value (2033F)	US$ 3.3 Billion
Global Market Growth Rate (2023 to 2033)	5.6% CAGR
Europe Market Share (2022)	35%
Powered Segment Growth Rate (2023 to 2033)	6% CAGR
Asia Pacific Market Growth Rate (2023 to 2033)	7.1% CAGR
Key Companies Profiled	Incat Crowther Alumarine Shipyard Seawind Grup Aresa Internaciona Voyage Lagoon Fountaine Pajot Robertson & Caine Matrix Yachts LOMOcean Design African Cats Bavaria Catana Group LeisureCat Outremer Yachting

Will Start-ups Have a Shot at Redefining the Sailing Experience?

“New Companies Focusing on Electrification of Boats to Achieve Sustainability Goals”

Incoming catamaran manufacturers are anticipated to milk the sustainability and climate change trends to push sales of electric catamarans and other electric boats. New catamaran suppliers are raising new finance to fund their business expansion and R&D efforts to compete with established manufacturers in the global landscape. Europe is projected to be the hub for boating start-ups that are focusing on the electrification of the boating industry.

• X Shore, a Swedish leisure boat manufacturer focusing on building battery-powered boats raised US$ 50 million in April 2022 from its investors. The company aims to reduce the pollution caused by leisure boats and replace them with its electric alternatives which have a lesser environmental impact.
• Evoy, a Norwegian start-up is making electric motors that can be fitted on boats. The company is currently working with boat manufacturers and collecting customer feedback before upscaling its production. In early 2022, the start-up raised US$ 8.1 million in a seed funding round.
• Neva, a United Kingdom-based start-up manufacturing electric leisure boats under the Pixii brand is taking sustainable boat manufacturing to a next level by using aluminum instead of the composite material that is traditionally used in the boating industry. The company aims to market and sell its products as a greener alternative to other watercrafts available in the industry.

New catamaran vendors are also expected to benefit from start-up accelerator programs and other supportive initiatives that are launched to help new companies grow and create a successful business model.

• Yachting Ventures, a start-up founded in 2020 by Gabriella Richardson, the Director of Young Professionals in Yachting (YPY), UK branch is helping boating start-ups to change the boating industry. The company offers legal and business guidance to aspiring boating start-ups and helps them make a difference in the global landscape without having to fork out a fortune for these services.

More new developments by start-ups and their impact on supply chain management have been mentioned in this newly revised Fact.MR research analysis.

Country-wise Insights

Will Catamaran Demand Rise in Asian Countries?

“Growing Disposable Income to Offer Remunerative Business Scope”

Increasing urbanization in the Asia Pacific region has resulted in changing standards of living and higher disposable income, which are anticipated to prominently influence sales of catamarans in APAC. The Asia Pacific regional catamaran industry is anticipated to progress rapidly as compared to all the other regional markets in the world through 2033. High fishing activity in this region is also expected to boost sales of fishing catamarans in the future.

India, Japan, Korea, and China are expected to be prime markets in this region that catamaran vendors should target going forward. Increasing interest in watersports, the launch of initiatives to promote marine tourism, and the growing availability of catamarans and other watercraft are other aspects that are forecasted to bolster market development in the aforementioned countries over the next ten years.

Why Should Catamaran Manufacturers Invest in Europe?

“Increasing Number of High-Net-Worth Individuals”

European countries have been witnessing a notable hike in the population of billionaires and millionaires over the past couple of decades and this trend is expected to crucially shape catamaran shipments over the coming years. Germany is leading the European market with an exorbitant amount of high-net-worth individuals as compared to other European countries.

Increasing preference for luxury yachts and changing consumer preferences are expected to primarily drive sales of catamarans among the aforementioned wealthy individuals in Germany. On the other hand, changing standards of living and growing disposable income of the general population are trends that are anticipated to govern market growth in other European countries throughout the forecast period.

Which Country Leads Catamaran Sales in North America?

“United States to Account for Authoritative Share in North American Market”

Consumer spending on outdoor recreational activities has been increasing in recent years in the United States owing to growing awareness regarding the health and mental well-being of individuals. Increasing spending on outdoor recreational activities such as fishing, boating, and cruising is anticipated to be a prime aspect that augments sales of watercrafts such as charter boats, fishing catamarans, sailing yachts, portable catamarans, etc., through 2033.

Around 15% of the total population of the United States is estimated to participate in some or other kinds of watersports such as kayaking, canoeing, rafting, etc. The aforementioned factor could potentially uplift sales of rowing catamarans, canoe catamarans, and other boats required in watersports in the future.

Category-wise Insights

Sales of Which Type of Catamarans are Expected to Surge?

“Powered Catamaran Demand to Exceed Sailing Catamaran Sales”

Based on type, the market for catamarans is segmented into sailing and powered.

Although sailing catamarans held a share of more than 50% in 2022 in the global marketplace, shipments of powered catamarans are projected to witness a noticeable increase over sailing catamarans across the forecast period. Sailing yachts and boats are highly suitable and preferred for long-distance sea voyages. Innovation and design developments have made sailboats a lot easier to operate than they used to be in the past. The aforementioned factors contribute to the high market share of sailing catamarans in the industry landscape.

However, powered catamarans provide better speed, stability, and lush interiors and exteriors that might not be as widely available in sailable catamarans. Powered catamarans are capable of attaining speeds of 20 to 25 knots on average. Increasing standards of living and growing demand for luxurious products are slated to influentially drive sales of powered catamarans at around 6% CAGR over the next ten years.

Competitive Landscape

Leading catamaran manufacturers are focusing on the development of innovative products with advanced technologies that are expected to bolster sales potential as well.

• In December 2022, AIIOY, a marine technology start-up based in Dallas unveiled the design of its first autonomous electric-powered 28-foot catamaran. The company aims to create an effortless boating experience as it offers autonomous features such as auto undocking and docking among others.

Key Segments of Catamaran Industry Research

• By Type :

  • Sailing
  • Powered

• By Size :

  • Small (Up to 30 m)
  • Medium (30 to 50 m )
  • Large (Above 50 m)

• By Passenger Type :

  • Sports
  • Passenger Transport
  • Cruising
  • Others (Military, Survey Vessels, etc.)

• By Region :

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA