POWERED CATAMARAN MARKET ANALYSIS

Market Challenges And Opportunities

Powered Catamaran Market Driving Factors

Major factors expected to drive growth of the global powered catamaran market are the benefits offered by these over conventional catamaran. Conventionally, powered catamarans were used for racing or sports purposes, however, over the past few years these have been manufactured for cruising application due to technological advancement such as enhanced speed and safety features coupled with increased stability, which has led to increased adoption of powered catamarans for various applications. Along with sports and cruising, powered catamarans are also been utilized for other applications such as passenger transport and military. Advancements in terms of reliability and enhanced speed and stability such as powerful engines and durable body of the hulls has aided powered catamarans to scale large distance in shorter time periods and offer enhanced comfort and safety. Moreover, it is light weight and offers efficient performance. These are the factors driving powered catamaran market growth.

Powered Catamaran Market Restraint

Major factor expected to restraint growth of the powered catamaran market is stringent environment protection regulations. Stringent government regulation regarding oil and fuel discharge and other harmful chemicals and toxins is among the major factor expected to hinder the global market growth during the forecast period. For instance, according to Federal Refuse Act, the discharge of fuel, oil, oily wastes, and hazardous substances is completely prohibited into the waters of the U.S. or the waters of the contiguous zone. In addition to this, under state law F&GC 5650 prohibits discharges of petroleum and other substances harmful to fish, plants, mammals, and birds.