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The Global Catamaran Market Growth Accelerated By Increasing Demand For Luxury And Leisure Boating

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ashwini bakhade
The Global Catamaran Market Growth Accelerated By Increasing Demand For Luxury And Leisure Boating

 

Catamarans are multi-hulled boats featuring two parallel hulls which are connected by bridgework. Catamarans provide advantages like stability, speed, and fuel efficiency over monohull boats. They offer spacious interior with wider deck space for activities like sunbathing and fishing. The rising interest of people for leisure boating and water sports has boosted the demand for catamarans.

The global Catamaran Market is estimated to be valued at US$ 2957.5 Mn in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.


Market key trends:

The rising demand for luxury and leisure boating has accelerated the growth of the catamarans market significantly over the past decade. People are increasingly investing in recreational boats like catamarans for leisure activities with family and friends. Catamarans provide more deck space and comfort for such leisure activities as compared to monohull boats. Their stable design and fuel efficiency also contribute to their popularity. The market has observed many innovations including hybrid and electric catamarans to further drive the market growth. With growing interest of people in experience-driven water activities, the catamaran market is expected to continue expanding over the forecast period supported by new product launches catering to the evolving needs of recreational boaters.


Segment Analysis

The global catamarans market is dominated by the trimarans sub segment. Trimarans catamarans are preferred by most customers as they provide better stability due to their three separate hulls. The wide and spacious deck space offered by trimarans also make them ideal for leisure cruises.


Key Takeaways

The global catamarans market is expected to witness high growth over the forecast period of 2024 to 2031. The market is estimated to reach a size of US$ 4958.4 Mn by 2031, expanding at a CAGR of 5.1% during this period.


Regional analysis

The North American region currently dominates the global catamarans market. High consumer demand for luxury cruising coupled with the presence of many global catamaran manufacturers in the US and Canada has contributed to North America's large market share. The Asia Pacific region is expected to be the fastest growing market during the forecast period supported by increasing disposable income, coastal tourism and island hopping activities in countries like Indonesia and Thailand.


Key players

Key players operating in the catamarans market are Bayer AG, Boehringer Ingelheim GmbH, Cargill Inc., Ceva Santé Animale, Eli Lilly and Company, DSM, Merck & Co., Inc., Novartis AG, Nutreco N.V., Sanofi S.A., SeQuent Scientific Ltd., Virbac S.A., Vétoquinol S.A., Zoetis Inc. Bayer AG and Novartis AG are currently the two largest players in global catamarans market, supported by their diverse product portfolio and market presence across all major regions.


For more Insights, Read –

https://www.marketwebjournal.com/cat-litter-market-trends-size-and-share-analysis/

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