Cruise Industry: Introduction

In 2016, the Global Cruise Market Size estimated a revenue of approximately 35.5 billion U.S. dollars.  According to our market expert analysis shows the revenue of the cruise industry worldwide will grow significantly during the forecast years figures for 2017 and 2025.

Cruise industry is gaining momentum due to rising cruise tourism, which is a leisure travel form, across the globe. Trending cruise vacations at exotic locations and luxury experience availed by tourists during cruise tourism is attracting huge number of travelers to opt for cruise tourism.

Global Cruise Market Size Analysis, By Region (2017-2025)

Cruise Market: Dynamics

Global cruise market is projected to witness a significant growth over the forecast period, owing to rising interest of people in cruise vacation, coupled with escalation in the expansion of cruise lines across the world. As per, Cruise Lines International Associations (CLIA), passengers travelled from cruise in 2016, was reported to be 24.7 million, and is expected to rise crucially during the forecast period.

Enhancement in world economy and escalation in job opportunities in expanding cruise industry is expected to aid the growth of global cruise market. Rise in governmental initiatives to invest in and develop cruise industry will further help in the growth of the market. However, high investments needed in cruise industry and sky-high prices of availing cruise vacation experience can hinder the growth of cruise industry market.

Cruise Market: Segment Analysis 

Mid-sized as well as small sized cruise types are expected to grow rapidly during the forecast period owing to growth in number of cruise lines that offer services for small to medium cruise. Rising trend of private cruising and luxury family or corporate vacations is expected to boost the growth of small sized as well as medium sized cruises, that can accommodate around 1000 people or below and 1000-2000 passengers respectively. Some of the popular small ship cruise lines are Ponant, Windstar Cruises, Quasar Expeditions, and others.

Among cruise type, ocean cruise segment is anticipated to grow swiftly in the upcoming years due to presence of enormous range of ocean ships that differ in shape and size, coupled with their higher demand by travelers as oceans are the most exotic vacation spot for a number of people. Rise in commercial launch of ocean cruise will further boost the growth of the segment. For example, 13 brand new ocean cruises are anticipated to be launched in the year 2018, and altogether these cruises can accommodate near about 31,000 passengers.

Cruise Market: Regional Analysis

Cruise industry market is expected to flourish significantly in North America over the forecast period, owing to rise in number of passengers from America that are opting cruise tourism. Prominence of market players such as Royal Caribbean Cruises Ltd and Carnival Corporation in global cruise market is another reason for the expected rise of cruise industry in North America.

 Europe, followed by Asia Pacific is anticipated to perform decently in the cruise industry market during the forthcoming years, due to rising disposable income of European as well as Asian population. Development of tourism in Asia is expected to boost the growth of cruise tourism in the region, which will further aid the growth of cruise industry market.

 Cruise Market: Key Players

Major players performing in global cruise market include Chandris Group, Royal Caribbean Cruises Limited, Seabourn Cruise Line, Star Cruises, Carnival Corporation & Plc. Oceanic Cruises and Norwegian Cruise Line Holdings Limited.

Cruise Industry Report Offer You:

Global Cruise Industry Size report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast.

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