Smooth Sailing: Catamaran Market Continues to Grow with Increasing Demand for Luxury Travel and Racing Events
Discover the booming catamaran market! The global market is valued at $1.35 billion in 2021 & expected to grow at 5.8% CAGR till 2030. #catamarans
Cats are where it’s at!
The global catamaran market size was valued at US $ 1.35 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.8% from 2022 to 2030, according to the Catamaran Market Size, Share & Trends Analysis Report by San Francisco, CA-headquartered Grand View Research, that spans from 2022 to 2023. The increased disposable income of citizens, as well as greater cruising and racing events, are key factors driving the industry’s expansion, based on the report.
Segmentation by Product
In terms of product, the market is split into sailing catamarans and power catamarans. Among these, the sailing catamaran segment held the largest revenue share of 54.21% in 2021. The power catamaran segment is expected to expand at a rapid CAGR of 6.2% through the forecast period.
Segmentation by Size
In terms of size, the industry is classified into small, medium, and large. Among these, the medium segment dominated in 2021, with a revenue share of 38.05%. The small segment is expected to advance at the fastest CAGR of 6.4% throughout the forecast period. A medium-sized catamaran is 30-50 feet long, and a boat of this size has adequate space for a cabin and can easily accommodate two to four persons.
Factors Driving Growth
Overall, the overall catamaran market is expanding at a tremendous growth rate owing to the rising marine tourism and users’ inclination toward luxurious travels. www.grandviewresearch.com/industry-analysis/catamaran-market-report
Catamaran Training Now Available in Florida and the British Virgin Islands
Carol Bareuther has written for ALL AT SEA since 2004.
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