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Cruise Tourism Market, by Cruise Type

RA00107

Cruise Tourism Market, by Cruise Type (River Cruise, Ocean Cruise, Luxury Cruise, Adventure Cruise and Others), by Size (Small-Sized (Below 1000 Passengers), Mid-Sized (1001-2000 Passengers), Large-Sized (2001 Passengers & Above)), Regional Outlook (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2019–2026

RA00107

Pages: NA

Mar 2020

Global Cruise Tourism Market Overview 2026:

Cruise tourism is a form of travelling through water ways for spending quality time which involves a holiday on a cruise ship. Basically, it is a form of travelling for a leisure or sport purpose. Cruise tourism is a rapidly growing segment in the tourism industry. The rise of cruise tourism is predominantly found the Mediterranean and the Caribbean and the artic amongst other destinations. Cruise tourism plays an important part in providing employment across the globe. Cruise tourism aims at providing multiple facilities which are designed to meet the necessary requirement of the passenger. Cruise tourism offers beverages, food, recreation, shopping, casino and accommodation within the ship. Many cruise ships also focus on the special themes as per the interest of the customers like classical music, yoga, astronomy, sequence dancing, meditation, and many others. In short, cruise tourism is a systematic planned round trip with entertainment and recreational facilities in the cruise.

Driving Factors of Cruise Tourism Market:

Increase in awareness and rise in the disposal income is considered to drive the cruise tourism market.Cruise tourism is one of the fastest growing segments in the travel industry. The rise in the interest of people to travel the world by means of water ways with lavish lifestyle has contributed a tremendous growth in the cruise tourism market. The increasing desire of people for luxury travel is increasing and the demand for new cruise ships with various amenities and luxuries to travel across the globe, boosting the cruise tourism market. The growth is primarily driven due to the rise in the disposal income of the people across the globe and rise in the preference of luxurious life among the people.

Environmental concern is considered to be a major restraint for the cruise tourism market

Cruise ship generates a large amount of waste, which affects the marine environment; this is considered to be a major restraint for the cruise tourism market. The graywater, sewage, oily bilge water and solid wastes are disposed in the water which disturbs the marine environment. In addition, the cruise ship also releases CO2 which is one of the major reasons for polluting the air. According to the world tourism organization and the united nation environment programs “the CO2 released from the cruise ship is 1000 time more than that released during a train journey.” The cruise ships use the dirty fuel to provide electrical power to the passengers and crew, where the air consists of nitrogen oxides, carbon dioxide, sulfur oxide and diesel particulates which creates an adverse effect on human health. The above-mentioned reasons are major restraints for the growth of cruise tourism market.

Cruise Tourism Market Segmentation, by Cruise Type:

Ocean Cruise type is found to be the most lucrative by 2026

Ocean cruise ship dominates its position in the cruise tourism market. Ocean cruise ship are typically the larger ships that can carry maximum up to 4000 people. They sail around the coastlines of the countries and stoppage in multiple locations.  The ocean cruise ship market is predicted to grow due to the availability of more facilities on the cruise that give the traveler an elite experience. The ocean cruise type also witnessed increasing number of ocean cruises in the market by the top player. Ocean cruise provides the customer ultra-luxury cruise lines with multiple travel destinations and secure ship environment. Due to the above-mentioned reasons the ocean cruise is predicted to be the most profitable cruise type in the cruise tourism market. 

Cruise Tourism Market, by Size:

Small size cruises possess high investment opportunities in the coming future

Small-sized cruises segment is expected to grow enormously over the forecast period. People are demanding to travel with private groups and affordable rates. Small size cruises offer the travelers with comfortable beds, lounges, television and many more enmities at an affordable price with unique experience due to which this segment is predicted to experience a growth.

Cruise Tourism Market, by Region:

North America accounted to have the highest growth in the forecast period

North America is predicted to have the largest share in the global market. The region is predicted to grow due to a rise in the number of passengers opting for cruise tourism. The presence of large number of global players in the North America region like Royal Caribbean Cruises Limited, Carnival Corporation and many more is predicted to boost the North America region for cruise tourism market in the forecast period. Asia-Pacific is predicted to grow consistently in the forecast period. The region is predicted to grow with the rise in the per capita income of the customer and the implementation of government regulation to improve the tourism market.

Key Participants in the Cruise Tourism Market

The major key players in the cruise tourism market are Silversea Cruises, Seabourn Cruise Line, Oceania Cruises, Ponant, Star Cruises, Chandris Group, Norwegian Cruise Line Holdings Limited, MSC Cruises, Carnival Corporation & Plc., and Royal Caribbean Cruises Limited among others.
 

Aspect

Particulars

  Historical Market Estimations

  2018-2019

  Base Year for Market Estimation

  2018

  Forecast timeline for Market Projection

  2019-2026

  Geographical Scope

  North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Cruise Type

  • River Cruise
  • Ocean Cruise
  • Luxury Cruise
  • Adventure Cruise
  • Others

  Segmentation by Size

  • Small-Sized (Below 1000 Passengers)
  • Mid-Sized (1001-2000 Passengers)
  • Large-Sized (2001 Passengers & Above)

  Key Countries Covered

U.S., Canada, Germany, France, UK, Italy, Japan, China, India, South Korea, Australia, Middle East, Africa

  Key Companies Profiled

  • Silversea Cruises
  • Seabourn Cruise Line
  • Oceania Cruises
  • Ponant
  • Star Cruises
  • Chandris Group
  • Norwegian Cruise Line Holdings Limited
  • MSC Cruises
  • Carnival Corporation & Plc.,
  • Royal Caribbean Cruises Limited

 

 


FREQUENTLY ASKED QUESTIONS?
 

A. Royal Caribbean Cruises Limited and Norwegian Cruise Line Holdings Limited are some of the key players in the global Cruise tourism market.

A. North America possesses great investment opportunities for the investors to witness the most promising growth in the coming years.

A. Customer service with extra amenities are the key strategies opted by the operating companies in this cruise tourism market.

A. Royal Caribbean Cruises Limited is the company investing more on R&D activities for developing new products and technologies.

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