Soaring Popularity of Sailing and Cruising Event Pushing Catamaran Sales across Asia: Fact.MR
DUBAI--(Korea Newswire)--As COVID-19 tightened its noose across the globe, millennials became increasingly conscious about their lifestyle choices. There has been a tremendous spike in recreational activities as they adopt a ‘cease the day’ attitude.
Roll out of vaccination drives and resumption of various recreational activities worldwide have provided the impetus the catamaran market. As sailing and cruising are immensely popular as recreational activities, sales of catamaran have shot up post-pandemic, especially across the Asia Pacific.
As per the latest market intelligence report by Fact.MR, Japan is expected to witness incremental growth opportunities during the forecast period. As the country is an archipelago surrounded by sea, recreational activities such as sailing and cruising have gained momentum over the years.
Following the outbreak of COVID-19, millennials are actively participating in these water sports and activities. As per Fact.MR, medium-sized catamaran, and chartered catamaran are expected to register high demand in Australia and Japan.
Alongside this, an increasing number of people in India, China, Japan, and South Korea, are investing heavily in luxury sports and boating. This will create lucrative opportunities for sales of the powered catamaran, yachts, and cruisers manufacturers.
Places such as Enoshima Islands, Hayama Port, and Lake Biwa across Japan are becoming increasingly popular for sailing. Consumers are even participating in sailing schools, which is propelling the sales of the sailing catamaran.
Hence, manufacturing companies are adopting various expansion strategies such as online tours. Coupled with this, tourism industry giants are seeking to establish their global presence and reach an international customer base through promotional and brand marketing activities. These developments are expected to push catamaran sales in Asia.
Leading players are also focusing on product launches and innovation to sustain their position in the industry. For instance, in May 2021, Longreach Catamarans announced the launch of their all-new purpose-designed range of high-performance power catamarans for cruising around Australia, Japan, and the South Pacific.
“As consumers are actively participating in recreational activities, demand for catamarans is increasing. In order to meet the requirement, leading players are integrating various technological advancements. For instance, they are using lightweight aluminum foil to offer advanced multihull cruises and improve speed. These factors are expected to create incremental opportunities for manufacturers in the coming years,” says a Fact.MR analyst.
Sailing and Cruising Event Tipping Scales in Favor of Catamaran Market
As per Fact.MR, powered catamarans are expected to register the highest demand in the global market. With the rise in racing and cruising events, especially across Japan and China, the market is expected to register demand at 4.8% CAGR in terms of volume through 2021.
Active participation and the growing interest of millennials in sailing cruising are providing impetus to the market. The presence of marinas, sailing schools, and yacht clubs, especially across China, Japan, and India, has increased the demand for powered catamarans.
For instance, Marinas in Shenzhen provide training and evaluation, which has increased the demand for rental-powered yachts and catamarans. Due to the surge in demand for sailboats and rental yachts, key manufacturers are targeting the Asia Pacific market to expand their customer base.
Catamaran Manufacturers Jumping on Innovation and Sustainability Bandwagon
Demand for automotive innovation in powered catamarans for sailing events is compelling manufacturers to adopt cutting-edge technologies such as artificial intelligence and the internet of thinking to improve the speed and safety of the yachts.
For instance, in January 2021, Volkswagen announced the solar-powered catamaran collaboration with Silent-Yachts for the manufacturing of 50-foot longs solar-powered catamaran, designed by CUPRA which will not only work in water but also on land.
Also, the emergence of new players in the market who offer innovative designs and technology has intensified the competition. For instance, in 2020, MAKAI Yachts announced their entrance in powered-catamaran market distinct design models M 37 and M 45- suitable for couple cruising and families with enormous deck space.
Likewise, in 2019, Australian custom superyacht builder Echo Yachts announced the launch of two new, fully customizable 27m catamaran motor yacht and shadow vessel designs with custom multihull safety features, modern styling, and extensive glass surfaces.
Some of the leading players profiled by Fact.MR operating in catamaran market includes:
· Grup Aresa Internaciona
· Fountaine Pajot
· Robertson & Caine
· Outremer Yachting
· Catana Group
· Matrix Yachts
· LOMOcean Design
· African Cats
· Alumarine Shipyard
· Incat Crowther
Key Questions Answered by the Report
· The report offers insight into catamaran market demand outlook for 2021-2031
· The market study also highlights projected sales growth for catamaran market between 2021-2031
· Catamaran market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
· Catamaran market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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Catamaran Market Survey Report: https://www.factmr.com/report/1488/catamaran-marke
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