New York, June 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Catamarans Global Market Report 2023" - https://www.reportlinker.com/p06464062/?utm_source=GNW
The global catamarans market is expected to grow from $1.36 billion in 2022 to $1.46 billion in 2023 at a compound annual growth rate (CAGR) of 7.47%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The catamarans market is expected to reach $1.81 billion in 2027 at a CAGR of 5.62%.
The catamaran market consists of sales of pontoon and small waterplane area twin hull.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
A catamaran refers to a type of boat with two parallel hulls connected by a deck or bridge, providing excellent stability and speed on the water. They are used for sports and recreation activities.
Europe was the largest region in the Catamarans market in 2022. The regions covered in catamarans report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main catamarans product types are sailing catamarans and powered catamarans.Sailing catamarans refer to a type of sailing boat with two hulls that are parallel to each other and are joined by the deck.
The various sizes are small(below 15m), medium(15m-30m), and large(above 30m) which are applied for leisure, commercial, defense, and others.
Increased cruising is driving the growth of the catamaran market.Cruising refers to traveling on a ship or boat, typically for pleasure or vacation purposes, while stopping at different ports or destinations.
Cruising with a catamaran is a popular option, which combines the independence of sailing with the comfort and amenities of a conventional cruise ship.Catamarans are used in cruising to sail around; thus, increasing cruising will propel market growth.
For instance, in February 2022, according to Cruise Market Watch, a China-based provider of analytics about the ocean cruise industry, the global ocean cruise passenger capacity increased to 581,200 in 323 ships, which can carry a total of 13.9 million passengers at the end of the year 2021. Additionally, in April 2022, Prosertek, Europe-based harbor equipment and machinery manufacturer, stated the number of passengers on cruise ships increased by 96% Year-on-Year (YoY) in 2021, hitting 13.9 million. Therefore, the increase in cruising is driving the catamaran market.
Product innovation is a key trend driving innovation and growth in the catamaran market.Many major players in the industry are focusing on developing new technologies and solutions to reduce their environmental impact and improve efficiency.
For example, in March 2023, Alva Yachts GMBH, a German-based electric luxury yacht brand for solar-driven catamarans, launched the Ocean Eco 78. It is uniquely designed as a 23.7-meter multihull yacht that has electric propulsion and transatlantic range. It has an expansive roof that has been specifically conceived for the integrated solar panels, which give it a transatlantic range and virtually unlimited autonomy. The solar cells can provide up to 26 kW, and the battery bank’s capacity is up to 490 kWh.
In May 2023, Nimbus Group, a Swedish-based boat manufacturer company, acquired Edge Water Powerboats for $9.5 million. With this acquisition, Nimbus Group expands its presence in the US market and offers a wide range of products to its customers. The acquisition enables Nimbus to strengthen its product portfolio and production capacity in the US. Edge Water Powerboats, is a US-based manufacturer of outboard-powered center console saltwater boats, including catamarans.
The countries covered in the catamarans market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The catamarans market research report is one of a series of new reports that provides catamarans market statistics, including catamarans industry global market size, regional shares, competitors with a catamarans market share, detailed XX market segments, market trends and opportunities, and any further data you may need to thrive in the catamarans industry. This catamarans market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06464062/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
