Luxury Cruise Ships Market Highlights 2020-2029
The luxury cruise ships market is estimated to grow with a significant CAGR during the forecast period, i.e., 2021-2029. The increasing number of amenities, innovative services, and themes offered in luxury cruise ships are expected to drive the luxury cruise ships market during the forecast period. The companies are offering various services including thrilling water coasters, skydiving simulators, unlimited in-suite spa treatments, and adventurous activities such as rock climbing and on-board zip lining, which is projected to attract tourists and is anticipated to increase the percentage of tourists in the near future. Furthermore, the growing trend of usage of small luxury yachts and small-ship cruises for luxury tourism is also predicted to magnify the luxury cruise tourism market in a substantial manner. According to the Cruise Lines International Association, the total number of global ocean cruise passengers increased from 23.06 million in the year 2015 to 30 million in the year 2019.
On the basis of type, the ocean cruising segment is expected to capture a significant market share in the forecast period owing to the more facilities which are offered in ocean cruising as compared to river cruising, furthermore the ocean cruises sale for longer time frame along with offering the travellers to sight the unseen destinations and covering different countries.
The market is segmented on amenities into restaurants, bars & pubs, water sports, adventurous sports, planetarium, snow rooms, cruise fares, 4D movie theatres, in-suite spa treatment centers, and others (skydiving simulators, and others). CLICK TO DOWNLOAD SAMPLE REPORT
Luxury Cruise Ships Market Regional Synopsis
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The North American market is predicted to grow at the highest CAGR over the forecast period owing to the rapid upsurge in number of tourists travelling in luxury cruise ships to popular destinations in the U.S., U.K, Caribbean Islands, Canada, Mexico, France, Germany, Italy, and numerous other countries across Europe and North America. The market in Asia Pacific is also estimated to grow with a significant growth rate over the forecast period owing to rapid increase in the number of cruise lines in China, Japan, Thailand, Singapore and Australia, and increase in popularity. According to the Cruise Lines International Association, the largest number of passengers travelled in luxury ships came from United States that is 11.9 million, following China 2.4 million, Germany 3.19 million, UK 1.93 million, and Australia 1.34 million, among others.
The global luxury cruise ships market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the global luxury cruise ships market includes the following segments:
By Product Type
- Ocean Cruises
- River Cruises
- Others (Small-ship Cruises and Luxury Yachts)
By Amenities
- Restaurants
- Bars & Pubs
- Water Sports
- Adventurous Sports
- Planetarium
- Snow Rooms
- Cruise Fares
- 4D Movie Theaters
- In-suite Spa Treatment Centers
- Others (Skydiving Simulators, and others.)
Growth Drivers
- Increase Offering in Terms of Amenities
- Increase in Disposable Income of the People Around the World
Challenges
- High Travel Costs
- Environmental Concerns Among Tourists
Top Featured Companies Dominating the Market
- Royal Caribbean International
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Azamara
- Oceania Cruises S. de R.L.
- Viking Ocean Cruises
- Seabourn Cruise Line Limited
- Crystal Cruises
- Regent Seven Seas Cruises
- Silversea Cruises
- Norwegian Cruise Line Holdings Ltd.
- American Cruise Lines
