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Catamaran Market Trend
OREGAON, PORTLAND, UNITED STATES , September 12, 2023/EINPresswire/ -- According to the report published by Allied Market Research, the global catamaran market was estimated at $1.6 billion in 2021 and is expected to hit $2.7 billion by 2031, registering a CAGR of 5.5% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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A catamaran is a type of boat or watercraft with two parallel hulls of equal size connected by a platform or deck. The design of a catamaran provides several advantages over traditional mono-hull boats, such as increased stability, speed, and efficiency. Catamarans are used for a wide range of applications, including recreational sailing and cruising, commercial transportation and cargo, and military and defense operations. The size of catamarans can vary from small recreational boats to large ocean-going vessels. Catamarans have become increasingly popular in recent years due to their unique design and capabilities.
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By product type, the sailing catamaran segment held the highest share in 2021, garnering nearly two-thirds of the global catamaran market revenue. The powered catamaran segment, on the other hand, would showcase the fastest CAGR of 5.8% throughout the forecast period.
By size, the below 15m size segment contributed to nearly half of the global catamaran market size share in 2021. On the other hand, the 16m-30m segment would showcase the fastest CAGR of 6.01% throughout the forecast period. Moreover, the above 30m segment is also discussed in the report.
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By application, the leisure segment accounted for the highest share in 2021, generating around two-fifths of the global catamaran market revenue. The sports segment, however, would portray the fastest CAGR of 6.7% during the forecast period. The transport and other segments are also analyzed through the study.
By region, Europe held the major share in 2021, garnering around three-fifths of the global catamaran market revenue. North America, simultaneously, would showcase the fastest CAGR of 6.98% from 2022 to 2031. The other provinces studied through the report include Asia-Pacific and LAMEA.
The Europe region is analyzed across France, Italy, Netherlands, Germany, and rest of Europe. The Europe catamaran market is projected to experience steady growth in the forecast period due to the increasing demand for catamarans for varipurposes by individuals.
The global catamaran market is expected to experience significant growth in the coming years, driven by several key factors. One of the major factors driving market growth is the increasing popularity of recreational water sports and leisure activities, particularly in developed regions such as North America and Europe. The growing interest in yachting, sailing, and water sports has resulted in an increased demand for catamarans, which offer several advantages over traditional mono-hull boats. Another significant driver of market growth is the increasing demand for eco-friendly and sustainable boats.
Catamarans are known for their fuel efficiency and low emissions, making them an attractive option for environmentally consciconsumers and businesses. In addition, the rising demand for luxury boats and yachts in emerging markets such as Asia-Pacific and the Middle East is expected to drive growth in the market. The increasing investment in marina and port infrastructure in these regions is also expected to boost demand for catamarans.
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KEY FINDINGS OF THE STUDY
By product type, the sailing catamaran segment leads the market during the forecast period.
By size, the below 15m catamarans is expected leads the market during the forecast period.
By application, the leisure segment is expected to grow at a lucrative growth rate during the forecast period (2022-2031).
North America is anticipated to exhibit the highest CAGR during the forecast period.
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Allied Analytics LLP
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