(MENAFN- Ameliorate Digital Consultancy)
The sailboats market refers to the industry that designs, manufactures, and sells various types of sailboats. The market includes small recreational sailboats as well as larger commercial vessels used for racing, cruising, and chartering. The sailboats market has seen steady growth over the years, driven by factors such as the growing popularity of sailing as a leisure activity, technological advancements in sailboat design, and increasing demand for eco-friendly modes of transportation.
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One of the key drivers of growth in the sailboats market is the growing popularity of sailing as a leisure activity. Sailing is a popular pastime for many people worldwide, with enthusiasts enjoying the freedom, challenge, and adventure that sailing offers. In addition, sailing is considered a relatively eco-friendly activity, which has led to increased interest in the sport as people become more environmentally conscious. As a result, the sailboats market has experienced an increase in demand for recreational sailboats.
Another factor driving growth in the sailboats market is technological advancements in sailboat design. Advances in materials, such as carbon fiber and lightweight composites, have made sailboats faster, lighter, and more efficient. Innovations in sail design, rigging, and navigation systems have also contributed to the development of more advanced and capable sailboats. These technological advancements have led to increased demand for high-performance sailboats among enthusiasts, as well as increased interest in sailing as a competitive sport.
The global catamaran market was valued at US$ 1.4 Billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.3% from 2022 to 2032. The increase in leisure tourism and racing events and the increasing disposable income of people across the globe are some of the key factors driving the growth of the catamaran industry.
Overall, the sailboats market is expected to continue its growth trajectory in the coming years, driven by factors such as increasing interest in sailing as a leisure activity, technological advancements in sailboat design, and the growing demand for eco-friendly modes of transportation. As a result, sailboat manufacturers and retailers are expected to invest in new designs and technologies to meet the evolving needs and preferences of customers in this market.
Key Takeaways from Market Study
A catamaran is like any other type of expensive leisure tourism. Wealthy families, affluent individuals, and anyone with enough money who wants to try different experiences are willing to pay for a catamaran on the condition that it is safe. The power catamaran segment is estimated to hold the major market share and expand at a CAGR of 6.2%. The small-sized catamarans segment is projected to advance at the highest CAGR during the forecast period. The catamaran market for sports applications is expected to expand at the highest CAGR during the assessment period.
“Because of new technologies, the private, commercial, and military sectors of catamaran design are quickly advancing. Advanced materials and 3D printing will alter catamaran design and building methodologies, while new sustainable fuels will aid in decreasing or even eliminating emissions in the maritime sector,” says an analyst at Persistence Market Research.
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Key Market Players
Major players are channeling efforts toward expanding their production capacities to strengthen their market share. Market expansion is anticipated to be aided by the growing number of partnerships and collaborations among key players that are looking to increase their presence in the market. Some of the players in the African Cats; Bavaria Catamarans; Beneteau Group; CATATHAI; Fountaine Pajot Catamarans; Leopard Catamarans; NAUTITECH; Outremer Yachting; Seawind; Voyage and others.
In October 2021, Groupe Beneteau announced that it had acquired STARFISHER, a shipyard in Portugal, which became GB PORTUGAL, which will help them to strengthen the capacity of production for 25 to 35-foot power boats by setting itself up in Portugal. In January 2022, the Martini 7.0, a 165-foot catamaran yacht, featuring unique technology that gives passengers seasickness treatment, was presented by Servo Yachts. The Martini 7.0, created in partnership with the U.K.-based company Shuttleworth Design, has novel marine stabilization techniques that allow the yacht to glide more softly across the water, eliminating the kind of motion that often causes guests to get seasick.
Key Segments in Catamaran Industry Research
By Product Type
Sport Leisure Transport Others Power Catamarans
Sport Leisure Transport Others
Sport Leisure Transport Others
North America Latin America Europe Asia Pacific Middle East & Africa
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The report also includes forecast factors and vital macroeconomic factors that are anticipated to boost the growth of the global market. It also addresses the restraints that are projected to hinder market growth, along with the latest trends and potential opportunities in the market.
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Persistence Market Research is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. Persistence Market Research boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductors and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.
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