The powered catamaran market was valued at US$ 63.7 million in 2016 and is projected to reach US$ 849.3 million by 2023, exhibiting a CAGR of 3.7% during the forecast period, according to Powered Catamaran Market Report, by Application (Cruising, Passenger Transport, Military, and Others), and by Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa).
In terms of volume, global powered catamaran market was pegged at 536 units in 2016 and is expected to increase to 789 units by 2023, registering a CAGR of 5.7% during the forecast period. Power catamarans offer more advantages than conventional catamarans including more space for a given length, more speed with less expensive engines, and less fuel consumption. High-performance cruising catamarans typically have efficient daggerboards or centerboards, deeper rudders, less windage, and less displacement. These can go to windward at a 45-50 degree TWA in nearly all conditions. In powered vessels, speed and sea-kindliness is favored over bulk capacity. In larger vessels, this niche favors car ferries and military vessels for patrol or operation in the littoral zone. Two advancement over the conventional catamaran are the small-waterplane-area twin hull (SWATH) and the wave-piercing configuration, the latter having become a widely favored design.
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Key Trends and Analysis of the Global Powered Catamaran Market:
- Technological advancements in powered catamarans for cruising, passenger transport, and military application have boosted their speed, performance, and has reduced downsides associated with stability, and efficiency. For instance, Fountaine Pajot Motor Yachts are built from a sandwich structure with a core of PVC foam laminated under vacuum. Outer skins are made of a laminate of fiberglass fabrics and powder binder mats applied by hand with an isophtalic polyester resin, to protect the boats against hydrolysis, for hulls and decks, isophtalic gel-coats applied. These designs help in maximizing aerodynamics of the catamaran, largely affecting the overall performance. Moreover, advent of hydrofoils known as daggerboards has further increased speed and performance of these catamarans as they minimize drag by lifting the hull out of the water, which increases the speed. These are the factors driving the global powered catamaran market growth.
Key Takeaways of the Global Powered Catamaran Market:
- Key players are focusing on offering advanced powered catamarans, in order to enhance their market share. For instance, Fountaine Pajot launched MY44, in 2017, which promises to be the shipyard’s most successful power catamaran. The MY44 has been designed to deliver high offshore performance and high fuel economy. Additional features including, hydraulic gangway and dinghy crane make the cruising experience safe and easy.
- Manufacturers of powered catamarans have to adhere to various government standards during manufacturing process. After these standards are met, it helps in delivering the following benefits such as improved performance and minimizing the risk of accidents. The standardization of products and services also help in increasing user confidence, increasing sales, and are encouraging manufacturers for adopting new technologies for manufacturing catamarans. Moreover, standards also help in reducing the overall cost of manufacturing.
- Financial support plays a vital role in this market. In order to maintain a significant position in the market, companies have to increase their investment in research & development that help them to add new features in catamarans, which in turn, helps in increasing customer base.
- Major players operating in the global powered catamaran market are Sunreef Yachts, Spirited Designs, Leopard Catamarans, Lagoon Catamaran, Fountaine Pajot, Matrix Yachts, Voyage Yachts, TomCat Boats, Robertson and Caine, Gemini Catamarans, WorldCat, Outremer Yachting, Scape Yachts, Seawind Group Holdings Pty Ltd, Alumarine Shipyard, Pedigree Cat ,Inc., Farrier Marine, Catahai Co. Ltd, and Alibi Catamarans.