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With a predicted CAGR of 9.9 percent from 2024–2031, the worldwide cruise ship market size is expected to increase from $8 billion in 2023 to $16.17 billion in 2031.
For the sole aim of providing its paying customers with an enjoyable and memorable vacation, a cruise ship provides a wide array of services and facilities designed to cater to their every need. It comes in a range of sizes, the largest of which can carry thousands of passengers. Tourists love cruises because they are a great way to see the sights. How far a cruise ship can go depends on its size and the technologies it uses. Most cruise ships now seem like miniature versions of towns on water, and cruising is a huge part of the tourism sector right now.
Luxury and recreation abound on board cruise ships, which are outfitted with every amenity imaginable to ensure that passengers have the time of their lives while at sea. A large one can accommodate thousands of people, and there are many more sizes to choose from. Everyone knows that cruises are a fantastic way to bring in the crowds. A cruise is a vacation that takes place over several days on a ship that sails across large bodies of water, either on land or at sea, and stops at various tourist destinations along a set itinerary. On this type of vacation, making sure guests have a good time is the first priority. Globally, the hospitality and tourism sectors are experiencing rapid expansion, which is fueling the cruise industry. In addition, new technological skills, such as machine learning and artificial intelligence, are bolstered by a variety of software to bolster the market solutions that are already available. Some cruise lines are automating the operations of their fleets of smaller, more luxury cruise ships.
More and more people are opting for these alluring packages that venture inland from major seaside destinations, which bodes well for the cruise ship business. The growing desire for luxury lifestyles among many people and the increased travel and leisure time enjoyed by members of generation Z are driving market development. New and fascinating amenities, a wide variety of fun things to do, and themed vacations with yoga, family, mystery, and other themes are all available on today's cruise ships. As a result of these advances, the cruise industry is booming, taking in customers from all walks of life and especially the target demographic.
The expansion of the cruise business is being hindered by the rising tide of environmental worries over the potential contamination caused by ocean sailing. Everyone on board, from employees to passengers, contributes significantly to the ocean's pollution and rubbish problem. About seventy-seven percent of the pollution in the ocean comes from ocean cruise ships. Environmental and civilian groups' awareness initiatives will likely have an effect on the expansion of the cruise industry. Market growth is expected to be limited over the forecast period due to the high cost of manufacturing these cruises and the small number of committed enterprises.
Cruise ship vacations are expected to fuel the market's expansion due to the rising desire for one-of-a-kind travel experiences and leisure activities. Cruise ships are popular among vacationers because they provide a hassle-free and comprehensive way to see the world. The rising purchasing power of the middle class, particularly in developing nations, has further boosted the cruise ship market. More individuals can afford to take cruise holidays as disposable incomes rise, which means more potential customers.
In addition, cruise ships now have easier access and more amenities thanks to the proliferation of new, well-appointed port facilities and terminals around the globe. Improvements to the industry's infrastructure encourage cruise lines to set up shop in new locations and boost the sector's overall growth potential. The culinary selections, recreational facilities, entertainment options, and onboard amenities are always being upgraded by cruise lines. Innovations like these meet the needs of a wide range of passengers and encourage them to come back, which boosts the industry's growth.
There has been exponential growth in the hospitality and tourist sector over the past few decades. India, South Africa, Brazil, and other countries have loosened regulations to attract investments from the world's leading hotel corporations. A number of factors contribute to the growth of the tourist and hospitality sector, including technical advancements, which in turn encourage the use of more aircraft and cruises. Ocean cruise ships were among the most rapidly expanding segments of the tourism market in early 2020. Cruise lines are continuing with planned fleet expansions and resuming shipyard operations despite the COVID-19 epidemic. For example, in 2021, the marine industry's overall revenue surged by over 28%, driven by increases in offshore natural gas production (up 79%), shipbuilding and repair (up 57%), and maritime tourism (up 11%), as reported by the Australian government. In addition, the demand for cruise ships in the tourism industry was driven by domestic travel, particularly leisure travel, which boosted the market throughout the predicted period.
Report Coverage
Global Cruise Ships research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Cruise Ships report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Cruise Ships 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 Ships 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 Ships market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Cruise Ships 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
Fincantieri S.p.A., AmaWaterways, Hyundai Heavy Industry Co. Ltd., Silversea Cruises, Norwegian Cruise Line Holdings Ltd., Mitsubishi Heavy Industry. Ltd., MSC Cruises S.A., Meyer Werft Gmbh & Co. Kg, DSME Co. Ltd., Samsung Heavy Industries Co. Ltd.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Cruise Ships market based on the below-mentioned segments:
Global Cruise Ships Market, By Type
Mainstream Cruise Ships
Ocean Cruise Ships
Luxury Cruise Ships
Others
Global Cruise Ships market, By Application
Transportation
Leisure
Others
Global Cruise Ships Market, By Size
Small
Mid
Large
Global Cruise Ships market, Regional Analysis
For the sole aim of providing its paying customers with an enjoyable and memorable vacation, a cruise ship provides a wide array of services and facilities designed to cater to their every need. It comes in a range of sizes, the largest of which can carry thousands of passengers. Tourists love cruises because they are a great way to see the sights. How far a cruise ship can go depends on its size and the technologies it uses. Most cruise ships now seem like miniature versions of towns on water, and cruising is a huge part of the tourism sector right now.
Luxury and recreation abound on board cruise ships, which are outfitted with every amenity imaginable to ensure that passengers have the time of their lives while at sea. A large one can accommodate thousands of people, and there are many more sizes to choose from. Everyone knows that cruises are a fantastic way to bring in the crowds. A cruise is a vacation that takes place over several days on a ship that sails across large bodies of water, either on land or at sea, and stops at various tourist destinations along a set itinerary. On this type of vacation, making sure guests have a good time is the first priority. Globally, the hospitality and tourism sectors are experiencing rapid expansion, which is fueling the cruise industry. In addition, new technological skills, such as machine learning and artificial intelligence, are bolstered by a variety of software to bolster the market solutions that are already available. Some cruise lines are automating the operations of their fleets of smaller, more luxury cruise ships.
More and more people are opting for these alluring packages that venture inland from major seaside destinations, which bodes well for the cruise ship business. The growing desire for luxury lifestyles among many people and the increased travel and leisure time enjoyed by members of generation Z are driving market development. New and fascinating amenities, a wide variety of fun things to do, and themed vacations with yoga, family, mystery, and other themes are all available on today's cruise ships. As a result of these advances, the cruise industry is booming, taking in customers from all walks of life and especially the target demographic.
The expansion of the cruise business is being hindered by the rising tide of environmental worries over the potential contamination caused by ocean sailing. Everyone on board, from employees to passengers, contributes significantly to the ocean's pollution and rubbish problem. About seventy-seven percent of the pollution in the ocean comes from ocean cruise ships. Environmental and civilian groups' awareness initiatives will likely have an effect on the expansion of the cruise industry. Market growth is expected to be limited over the forecast period due to the high cost of manufacturing these cruises and the small number of committed enterprises.
Cruise ship vacations are expected to fuel the market's expansion due to the rising desire for one-of-a-kind travel experiences and leisure activities. Cruise ships are popular among vacationers because they provide a hassle-free and comprehensive way to see the world. The rising purchasing power of the middle class, particularly in developing nations, has further boosted the cruise ship market. More individuals can afford to take cruise holidays as disposable incomes rise, which means more potential customers.
In addition, cruise ships now have easier access and more amenities thanks to the proliferation of new, well-appointed port facilities and terminals around the globe. Improvements to the industry's infrastructure encourage cruise lines to set up shop in new locations and boost the sector's overall growth potential. The culinary selections, recreational facilities, entertainment options, and onboard amenities are always being upgraded by cruise lines. Innovations like these meet the needs of a wide range of passengers and encourage them to come back, which boosts the industry's growth.
There has been exponential growth in the hospitality and tourist sector over the past few decades. India, South Africa, Brazil, and other countries have loosened regulations to attract investments from the world's leading hotel corporations. A number of factors contribute to the growth of the tourist and hospitality sector, including technical advancements, which in turn encourage the use of more aircraft and cruises. Ocean cruise ships were among the most rapidly expanding segments of the tourism market in early 2020. Cruise lines are continuing with planned fleet expansions and resuming shipyard operations despite the COVID-19 epidemic. For example, in 2021, the marine industry's overall revenue surged by over 28%, driven by increases in offshore natural gas production (up 79%), shipbuilding and repair (up 57%), and maritime tourism (up 11%), as reported by the Australian government. In addition, the demand for cruise ships in the tourism industry was driven by domestic travel, particularly leisure travel, which boosted the market throughout the predicted period.
Report Coverage
Global Cruise Ships research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Cruise Ships report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Cruise Ships 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 Ships market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2031 |
| Base Year | 2024 |
| Forecast Period | 2024-2031 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Fincantieri S.p.A., AmaWaterways, Hyundai Heavy Industry Co. Ltd., Silversea Cruises, Norwegian Cruise Line Holdings Ltd., Mitsubishi Heavy Industry. Ltd., MSC Cruises S.A., Meyer Werft Gmbh & Co. Kg, DSME Co. Ltd., Samsung Heavy Industries Co. Ltd. |
| 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 Ships Market from 2021 to 2031.
- Market Forecast for Cruise Ships Market from 2021 to 2031.
- Regional Market Share and Revenue from 2021 to 2031.
- Country Market share within region from 2021 to 2031.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Cruise Ships competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Cruise Ships
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Cruise Ships market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Cruise Ships 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
Fincantieri S.p.A., AmaWaterways, Hyundai Heavy Industry Co. Ltd., Silversea Cruises, Norwegian Cruise Line Holdings Ltd., Mitsubishi Heavy Industry. Ltd., MSC Cruises S.A., Meyer Werft Gmbh & Co. Kg, DSME Co. Ltd., Samsung Heavy Industries Co. Ltd.
Primary Target Market
- Market Players of Cruise Ships
- 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 2031. INFINITIVE DATA EXPERT has segmented the global Cruise Ships market based on the below-mentioned segments:
Global Cruise Ships Market, By Type
Mainstream Cruise Ships
Ocean Cruise Ships
Luxury Cruise Ships
Others
Global Cruise Ships market, By Application
Transportation
Leisure
Others
Global Cruise Ships Market, By Size
Small
Mid
Large
Global Cruise Ships 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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