Catamarans Market Analysis Over 2021-2024 | Growth Forecast & Industry Share Report
Category: #headlines  By Ronak Bora  Date: 2021-09-07
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Catamarans Market Analysis Over 2021-2024 | Growth Forecast & Industry Share Report

Catamarans market has established a remarkable reputation for itself in the worldwide industry of water vessels. Technological innovations in agility & speed and the spotlight put on catamarans’ sports in the 2013 America’s Cup have expanded the appeal and popularity of this business sphere, in turn encouraging industry players and sailing enthusiasts to invest generously in this sector.

A report by Global Market Insights Inc. further sheds light on the robust growth of this industry by claiming the global catamarans market to have pegged USD 1.5 billion in the year 2017. The report states that rising urbanization, the growing fleet of upper-class end users spending on luxury and leisure, and the expansion of the travel & tourism industry have augured well for the growth of catamarans industry in the past few years.

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In fact, if reports are to be believed, the travel & tourism industry has emerged as one of the fastest growing economic sectors registering a 4.6% growth in 2017 – a 50% faster rate than the global economic growth. With such strong prospects and continued momentum, catamarans market has been anticipated to grow in excess of 6.5% each year through 2018-2024.

Much of US’s outbound growth may be attributed to the region’s advanced infrastructure, strong economic growth, and higher leisure spending capacity. In fact, the region is registered among one of the highest income spenders on recreational activities in the boating sector. The propagation of stringent regulatory norms toward coastal security has also significantly changed the growth prospects of the U.S. catamarans market for the better.

According to an estimate released by the U.S. Coast Guard in 2015, the nation recorded 4158 accidents including 2613 injuries and 626 deaths that accounted for property damages surpassing USD 42 million. Catamarans however, are designed to have a balanced structure & provide better safety from such accidental cases. These factors are held in high regard in shaping the growth trends of U.S. catamarans industry, projected to surpass a volume of 567 units by 2024, with an estimated 3.4% CAGR over 2018-2024.

The governmental defense and regulatory contributions toward catamarans industry is not limited only to the U.S., even the Asia Pacific region with China at its foray has been investing heavily to enhance the continent’s marine & defense infrastructure. It is prudent to mention that China has built over 80 different variety of Type 22 Houbei-Class – a catamaran designed with fast & sharp attack missile craft feature, to fasten its coastal safety & security.

The shifting focus of countries worldwide toward shipbuilding will have a lasting impact the profitability landscape of catamarans market, as is rather overt from the aforementioned regional trends. Aided by such as strong topographical landscape and product innovations in line catamarans market share is certain to upsurge in the ensuing years.

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Partial Chapter of the Table of Content

Chapter 4.  Catamarans Market, By Product

4.1. Global Market share by product, 2017 & 2024

4.2. Sailing catamarans

4.2.1.  Market estimates and forecast, 2013 – 2024

4.2.2.  Market estimates and forecast, by region, 2013 – 2024

4.2.3.  Leisure

4.2.3.1.    Market estimates and forecast, 2013 – 2024

4.2.3.2.    Market estimates and forecast, by region, 2013 – 2024

4.2.4.  Commercial

4.2.4.1.    Market estimates and forecast, 2013 – 2024

4.2.4.2.    Market estimates and forecast, by region, 2013 – 2024

4.3. Powered catamarans

4.3.1.  Catamarans market estimates and forecast, 2013 – 2024

4.3.2.  Market estimates and forecast, by region, 2013 – 2024

4.3.3.  Leisure

4.3.3.1.    Market estimates and forecast, 2013 – 2024

4.3.3.2.    Market estimates and forecast, by region, 2013 – 2024

4.3.4.  Commercial

4.3.4.1.    Market estimates and forecast, 2013 – 2024

4.3.4.2.    Market estimates and forecast, by region, 2013 – 2024

4.3.5.  Defense

Charts & Figures

FIG 1.    Catamarans market segmentation

FIG 2.    Industry landscape, 2013 - 2024 (Units) (USD Million)

FIG 3.    Industry ecosystem analysis

FIG 4.    Industry impact forces

FIG 5.    Growth potential analysis

FIG 6.    Competitive landscape, 2017

FIG 7.    Porter’s analysis

FIG 8.    PESTEL analysis

FIG 9.    Global market share by product, 2017 & 2024

FIG 10.   Global market share by region, 2017 & 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/catamarans-market

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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