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Global Cruise Ships Market Expected To Expand USD 7660.0 million, At A CAGR of 5.66% During 2019-2027|Neptun Werft GmbH & Co. KG, FINCANTIERI S.p.A. (BIT: FCT), Mitsubishi Heavy Industries, Ltd. (TYO: 7011)
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Cruise Lines International Association (CLIA), in one of its statistics stated that the number of global ocean cruise passengers was estimated to reach 30 million from 23.06 million in-between 2015-2019. Additionally, the number of cruise ships deployed in Asia peaked to 4.24 million passengers from 1.51 million passengers in-between 2013-2017.
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The statistics portray the growing cruising tourism industry around the globe on the back of increased focus for tourism by nations around the globe, advancements in cruising technologies and for several other factors, for instance, global competition, new innovative offerings and packages, services and expeditions amongst others. Rising number of cruise travelers worldwide is helping to raise the demand amongst cruise line operators to deploy a greater number of ships, which is anticipated to drive the growth of the global cruise ships market.
The global cruise ships market is anticipated to record a CAGR of 5.66% during the forecast period, i.e. 2019.2027. the market is segmented by type into mainstream, mega cruise, expedition cruise, river cruise and others Among these segments, river cruise segment is anticipated to hold the largest market share of around 38% in the year 2027 on the back of development of new river cruise lines around the globe as river cruising is increasingly becoming popular amongst the tourists worldwide. The segment is anticipated to reach a market valuation of USD 7660.0 million by 2027 from USD 4789.4 million in 2018.
Geographically, the global cruise ships market is segmented by five major regions into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa region, out of which, Europe is anticipated to hold the largest market share of around 32.10% in the year 2027 on the back of rise in the concentration of cruise ship buildings and increasing expenditure observed in the tourism industry on the back of high disposable income in the nations of the region.
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However, concerns for the impact on the profitability of manufacturers for the delay in the delivery and induction of cruise ships during peak demand period is estimated to act as a barrier to the growth of the global cruise ships market.
This report also studies existing competitive scenario of some of the key players of the global cruise ships market, which includes profiling of Neptun Werft GmbH & Co. KG, FINCANTIERI S.p.A. (BIT: FCT), Mitsubishi Heavy Industries, Ltd. (TYO: 7011), Fujian Shipbuilding Industry Group Corporation, Genting Hong Kong Limited (HKG: 0678), Daewoo Shipbuilding & Marine Engineering Co., Ltd. (KRX: 042660), and Samsung Heavy Industries Co., Ltd. (KRX: 010140).
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Cruise Ships Market – Global Demand Analysis & Opportunity Outlook 2027”, analyses the overall global cruise ships industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global cruise ships market in the near future.
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