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At a CAGR of 12.5% between 2023 and 2030, the worldwide cruise industry is forecast to increase from a 2022 valuation of $7.69 billion.
Because of the price differential and the conveniences offered by other types of vacations, cruises are becoming increasingly popular. When comparing the total cost of a trip, including transportation, food, lodging, and entertainment, a cruise vacation is more cost-effective. The majority of international tourists (58.0%) are first-time cruisers who plan to cruise again within the next three to five years, as reported by the Cruise Lines International Association.
A cruise ship is a passenger vessel that offers a nice vacation in and of itself. The average length of a cruise ship is 1,187 feet, the cruise tonnage is 225,300 tons, and the ship may carry as many as 8,500 passengers and staff members at once. Harmony of the Seas, owned by Royal Caribbean International, was built in 2016 and boasts a gross tonnage of 226,963, a length of roughly 1,188.1 ft, and a passenger capacity of 6,780, making it the largest cruise ship in the world. The tourism sector has benefited from the rise in popularity of cruising.
A growing economy and more disposable income are fueling an expansion of the tourist and hospitality sector, which in turn is propelling the market forward. However, the market expansion is hampered by the high prices of cruises and clean sailing through tight rules. Rising interest in river cruises will drive the industry forward despite these obstacles.
To better inform vendors, this research will break down the market's potential by geography and product category. Understanding the existing market condition and the way it will evolve in the future was crucial for estimating the opportunity. In order to predict the market, researchers are closely comparing production and consumption habits. Additionally, scenario-based analysis, market segment growth, and the expansion of adjacent markets are taken into account when predicting the market.
Top-down and bottom-up approaches to market sizing were used, with the results verified through in-depth interviews with industry experts. Taking into account the characteristics of the market, we calculated the Hotels, Resorts, and Cruise Lines by summing their respective sector shares, as well as their contributions to Consumer Services and market share among vendors. The effect of a number of elements, including drivers, trends, constraints, and opportunities, was identified and studied to forecast market expansion. We have evaluated the market's growth from year to year to get a better grasp on its dynamics. Growth patterns were also identified by comparing growth rates over time.
A cruise is a multi-day vacation spent aboard a cruise ship on open ocean or big inland waters, with stops at many tourist destinations along the way. A cruise is a vacation in which the traveler spends most of their time on a ship while also seeing interesting ports of call. The global cruises market is expanding thanks to the expanding hospitality and tourism sector.
During the projected period, the market is expected to increase due to factors such as the increasing number of leisure excursions and journeys conducted by generation Z and the rising preference of a large population to live a luxurious lifestyle. The worldwide cruise market is expected to be driven by the increasing demand for river cruises. Unlike beach cruises, river cruises typically include visits to inland destinations in their alluring packages. These kinds of river excursions are rising in popularity across Europe.
Report Coverage
Global Cruise research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Cruise report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Cruise competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Cruise market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Cruise market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Cruise market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
MV WERFTEN Wismar GmbH, Dsme Co. Ltd, Hyundai Heavy Industry Co. Ltd., China State Shipbuilding Corporation, Mitsubishi Heavy Industry. Ltd., Oshima Shipbuilding Co. Ltd., Fincantieri S.P.A., Samsung Heavy Industries Co. Ltd., Meyer Werft Gmbh & Co. Kg, Carnival Corporation & Plc, Royal Caribbean Group, MSC Cruises S.A., Norwegian Cruise Line Holdings Ltd., Disney Cruise Line, Genting Hong Kong Limited, Fred Olsen Cruise Lines.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Cruise market based on the below-mentioned segments:
Global Cruise Market, By Type
Adventure cruises
Christmas cruises
Classic cruises
Contemporary cruise
Family cruise
LGBT cruise
Luxury cruises
Ultra-luxury cruises
River cruises
Global Cruise market, Regional Analysis
Because of the price differential and the conveniences offered by other types of vacations, cruises are becoming increasingly popular. When comparing the total cost of a trip, including transportation, food, lodging, and entertainment, a cruise vacation is more cost-effective. The majority of international tourists (58.0%) are first-time cruisers who plan to cruise again within the next three to five years, as reported by the Cruise Lines International Association.
A cruise ship is a passenger vessel that offers a nice vacation in and of itself. The average length of a cruise ship is 1,187 feet, the cruise tonnage is 225,300 tons, and the ship may carry as many as 8,500 passengers and staff members at once. Harmony of the Seas, owned by Royal Caribbean International, was built in 2016 and boasts a gross tonnage of 226,963, a length of roughly 1,188.1 ft, and a passenger capacity of 6,780, making it the largest cruise ship in the world. The tourism sector has benefited from the rise in popularity of cruising.
A growing economy and more disposable income are fueling an expansion of the tourist and hospitality sector, which in turn is propelling the market forward. However, the market expansion is hampered by the high prices of cruises and clean sailing through tight rules. Rising interest in river cruises will drive the industry forward despite these obstacles.
To better inform vendors, this research will break down the market's potential by geography and product category. Understanding the existing market condition and the way it will evolve in the future was crucial for estimating the opportunity. In order to predict the market, researchers are closely comparing production and consumption habits. Additionally, scenario-based analysis, market segment growth, and the expansion of adjacent markets are taken into account when predicting the market.
Top-down and bottom-up approaches to market sizing were used, with the results verified through in-depth interviews with industry experts. Taking into account the characteristics of the market, we calculated the Hotels, Resorts, and Cruise Lines by summing their respective sector shares, as well as their contributions to Consumer Services and market share among vendors. The effect of a number of elements, including drivers, trends, constraints, and opportunities, was identified and studied to forecast market expansion. We have evaluated the market's growth from year to year to get a better grasp on its dynamics. Growth patterns were also identified by comparing growth rates over time.
A cruise is a multi-day vacation spent aboard a cruise ship on open ocean or big inland waters, with stops at many tourist destinations along the way. A cruise is a vacation in which the traveler spends most of their time on a ship while also seeing interesting ports of call. The global cruises market is expanding thanks to the expanding hospitality and tourism sector.
During the projected period, the market is expected to increase due to factors such as the increasing number of leisure excursions and journeys conducted by generation Z and the rising preference of a large population to live a luxurious lifestyle. The worldwide cruise market is expected to be driven by the increasing demand for river cruises. Unlike beach cruises, river cruises typically include visits to inland destinations in their alluring packages. These kinds of river excursions are rising in popularity across Europe.
Report Coverage
Global Cruise research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Cruise report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Cruise competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Cruise market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | MV WERFTEN Wismar GmbH, Dsme Co. Ltd, Hyundai Heavy Industry Co. Ltd., China State Shipbuilding Corporation, Mitsubishi Heavy Industry. Ltd., Oshima Shipbuilding Co. Ltd., Fincantieri S.P.A., Samsung Heavy Industries Co. Ltd., Meyer Werft Gmbh & Co. Kg, Carnival Corporation & Plc, Royal Caribbean Group, MSC Cruises S.A., Norwegian Cruise Line Holdings Ltd., Disney Cruise Line, Genting Hong Kong Limited, Fred Olsen Cruise Lines. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Cruise Market from 2021 to 2030.
- Market Forecast for Cruise Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Cruise competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Cruise
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Cruise market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Cruise market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
MV WERFTEN Wismar GmbH, Dsme Co. Ltd, Hyundai Heavy Industry Co. Ltd., China State Shipbuilding Corporation, Mitsubishi Heavy Industry. Ltd., Oshima Shipbuilding Co. Ltd., Fincantieri S.P.A., Samsung Heavy Industries Co. Ltd., Meyer Werft Gmbh & Co. Kg, Carnival Corporation & Plc, Royal Caribbean Group, MSC Cruises S.A., Norwegian Cruise Line Holdings Ltd., Disney Cruise Line, Genting Hong Kong Limited, Fred Olsen Cruise Lines.
Primary Target Market
- Market Players of Cruise
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Cruise market based on the below-mentioned segments:
Global Cruise Market, By Type
Adventure cruises
Christmas cruises
Classic cruises
Contemporary cruise
Family cruise
LGBT cruise
Luxury cruises
Ultra-luxury cruises
River cruises
Global Cruise market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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Through INFINITIVE Data Expert is a professional Market Research services, I will identify the cruise market market size, demand & opportunities, growth rate, and target audience with a comprehensive analysis of your competitors.