Rockville Pike, MD -- (SBWIRE) -- 07/19/2019 -- The Powered Catamaran is anticipated to be the most prominent catamaran segment in the global Catamaran market, growing at a significant CAGR of 4.8% by volume during the forecast period.
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The rise in cruising and racing events has further enhanced the demand for catamaran in the market. High demand for powered catamaran is due to their efficiency, reliability and increased space. The other catamaran type such as sailing catamaran is relatively growing at steady pace as compared with powered catamaran. It is projected that the market size for Catamaran in powered catamaran segment will reach more than 1,300 units by 2027 in the global Catamaran market.
The demand for medium sized catamaran is likely to grow at a significant rate and is projected to reach more incremental opportunity as compared to other segments. The market for large sized catamaran is growing at a relatively high pace as compared with other Catamaran. The slow growth in the small sized catamaran market is due to its limited application. The medium sized catamaran held a share of more than 40% in 2017, owing to its applications in chartering services.
Europe is likely to hold a majority of share in the global catamarans market, production industry owing to more technologically advanced manufacturing infrastructure required for world-class product ranges. Moreover, the region is attributed with the most experienced workforce that in turn profoundly influences the inclination of consumers for high-end performance catamarans. Owing to this, Europe is anticipated to account for the lion's share of the overall catamaran industry in the near future. North America catamarans market size is expected to create 3.5% CAGR by volume over the forecast period. Surging investment on luxury boating such as powered cats, yachts, cruisers, and others are positively impacting the overall catamaran market. The regional growth is primarily contributed by the U.S. demand owing to higher income spending on recreational activities, especially in the boating sector.
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The competitive landscape section of the Catamaran market delivers the most insightful information regarding the key market players, their relative global position and business strategies. The market for the Catamaran is estimated to grow over the forecast period as the contenders in the global market are rising and competition with the existing players is estimated to grow in the next ten years.
The manufacturers in Catamaran market to expand with strategic developments such as product launches, product innovation, expansion, partnership & collaborations, and merger & acquisitions in the Catamaran market. Key players operating in the global market for Catamaran, includes Grup Aresa Internaciona, Fountaine Pajot, Robertson & Caine, Outremer Yachting, Catana Group, and Lagoon. Other prominent players in catamaran market are Matrix Yachts, LOMOcean Design, African Cats, Alumarine Shipyard, Seawind, Incat Crowther, Bavaria, Voyage and LeisureCat. These companies are totally focused on improving structural stability along with developing high catamaran for sporting performance in decreasing sailor risk in high-quality product range.
The global market for Catamaran is further segmented as Type, Size, and by passenger Type and region. Catamaran market register demand from catamaran type. According to type the Catamaran can be segmented as Sailing Catamaran and Powered Catamaran. By Size, it includes Small (upto 30 m), Medium (30-50 m) and Large (Above 50 m). The market for Catamaran can also be segmented on the basis of passenger type which includes Sports, Passenger Transport, Cruising, and Others (Military, Survey Vessels, etc.). The Catamaran market has been evaluated across primary regions such as North America, Latin America, Europe, Japan, Asia Pacific Excluding Japan (APEJ), and Middle East and Africa (MEA).
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