Cruise Tourism Market to grow by USD 21.02 billion from 2022 to 2027; AmaWaterways, Ambassador Cruise Holidays Ltd., American Cruise Lines and more among key companies – Technavio

NEW YORK, Nov. 22, 2023 /PRNewswire/ — The cruise tourism market is estimated to grow by USD 21.02 billion from 2022 to 2027, growing at a CAGR of 11.4%. The cruise tourism market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer cruise tourism market are AmaWaterways, Ambassador Cruise Holidays Ltd., American Cruise Lines, Azamara, Carnival Corp. and Plc, Compagnie du Ponant, Cosmos Tours Ltd., Genting Hong Kong Ltd., KSINC, MSC Mediterranean Shipping Co. SA, Norwegian Cruise Line Holdings Ltd., Ocean World Ltd., Riviera Travel, Royal Caribbean Cruises Ltd., Saga Group Ltd., The Walt Disney Co., TUI AG, Viking Cruises, Virgin Cruises Intermediate Ltd., and LaVista Travel. 

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Company Offering:

AmaWaterways – The company offers cruise tourism solutions such as European River Cruises, Mekong River Cruises, Nile River Cruises, Safaris, and Wildlife River Cruises. Ambassador Cruise Holidays Ltd. – The company offers cruise tourism solutions such as Ambassador Fleet.American Cruise Lines – The company offers cruise tourism solutions such as Mississippi River Cruises.For details on companies and their offerings – Buy the report!

By Geography, the market is classified as North America, Europe, APAC, South America, and Middle East and Africa. North America will have the largest share of the market.

North America is estimated to account for 44% of the global market during the forecast period. Over the next five years, the market in North America is expected to experience substantial growth momentum. Cruise tourism has seen a significant increase in passenger volume over the past three decades. To cater to the growing passenger demand in the region, cruise ship vendors are increasing passenger capacity, itineraries, and the number of convenient embarkation ports on their vessels.Download a free sample report to get more insights on the market share of various regions and the contribution of the segments.Impactful driver- The increase in onboard facilities and offeringsKey Trend – Improvements in port infrastructureMajor Challenges – The rising environmental concerns

 Market Segmentation

The market share growth by the ocean cruising segment will be significant during the forecast period. Several factors have been affecting the ocean cruising market lately. These include the emergence of large-capacity cruise ships, an increase in the number of local ports and new destinations, and the introduction of numerous onshore and onboard recreational activities. Over the past five years, this segment has experienced remarkable growth in terms of new ships, ports, and passengers, mainly in developed economies. The growth of this segment can be attributed to the luxury experience, rising disposable income, and technological advancements that make it easier to book cruises.

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Related Reports:

The river cruise market size is estimated to grow at a CAGR of 12.9% between 2022 and 2027. The market size is forecast to increase by USD 3,206.77 million.

The leisure boat market size is estimated to grow at a CAGR of 5.66% between 2022 and 2027, and the size of the market is forecast to increase by USD 22,154.06 million. 

TOC:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application 

7 Market Segmentation by Product 

8 Market Segmentation by Geography 

9 Customer Landscape

10 Geographic Landscape

11 Drivers, Challenges, and Trends

12 Vendor Landscape

13 Vendor Analysis

14Appendix

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SOURCE Technavio