Long gone are the days when monohull sailing yachts ruled the bareboat and crewed charter fleets in the Caribbean. Today, cats are where it’s at. Case in point, the BVI’s Fall Charter Yacht Show and USVI Charter Yacht Show are both almost all multihulls. Even predominantly superyacht shows like Antigua Charter Yacht Show and the new Caribbean Charter Yacht Show have multi’s among their number, 18 to 20 percent of yachts on show, respectively, in 2022. Two and three hulls are growing in race circles too. Witness the Caribbean Multihull Challenge, a multihull-only event that set its 5-year record of over 30 boats, both racers, and ralliers. Looking ahead, as of the end of April, 60 of the 197 boats registered for the 2023 Atlantic Rally for Cruisers are multihulls.
This Caribbean phenomenon mirrors a global growth in the popularity of multihulls. More specifically, the worldwide catamaran market was worth US $1.35 billion in 2021 and is projected to grow at a compound annual growth rate (CAGR) of 5.8 percent to US $2.23 billion by 2023, according to the August 2022-published report, Catamaran Market Size, Share & Trends Analysis Report By Product (Sailing Catamarans, Power Catamarans), By Size (Small, Medium, Large), By Application (Sport, Leisure, Transport), By Region, And Segment Forecasts, 2022 – 2030, by Grand View Research, based in California, USA.
This report underscores that the roomy comfort and stability of catamarans combined with advancements in design features by manufacturers producing faster and more fuel-efficient yachts are a few factors driving the multihull industry boom. Others, on the owner’s side, are a boost in disposable income, the rebound in the marine tourism market in the wake of the pandemic, and more cruising and racing events.
Looking ahead, while the 30 to 50-foot segment dominated in 2021 with a revenue share of over 38 percent, moving forward its small catamarans, under 30 feet, will have the fastest CAGR of 6.4 percent through 2030. The leisure catamaran market led in 2021, with nearly 38 percent of dollars, but it’s the sport segment that will grow the fastest (6.6% CAGR). Europe sees the largest revenues from catamarans, at over 36 percent of the market, and the Asian Pacific region is growing fast (7.1% CAGR), but North America, South America, and the Caribbean were all tagged in the report as fast-growing markets. www.grandviewresearch.com/industry-analysis/catamaran-market-report