A cruise ship is a large passenger ship, used
to take passengers on a pleasure voyage in a trip that is as much a part of the
experience as the many destinations on the way. It is often serve the purpose
of luxury travelling & touring with various facilities on board. It varies
in sizes depending upon the purpose of use. Different types of cruise ships are
equipped using different passenger carrying capacity. It provides various
facilities such as casinos, restaurants, bars, gym and other luxury amenities.
It is a boon to the waterway tourism industry and helps to advance the industry
in a larger way.
According to study, “Global
Cruise Ship Market Size study, by Type (Ocean Cruise Ships, Luxury
Cruise Ships, Adventure Cruise Ships, River Cruise Ship, Others), By Application
(Transportation, Entertainment, Others) and Regional Forecasts 2018-2025” the
key companies operating in the global cruise ship market are Royal Caribbean
Intl., Hyundai Heavy Industry Co. Ltd., Dsme Co, Ltd., Carnival Cruise line,
Cruise Critic, Princess Cruises, Norwegian Cruise Line Holdings, Genting Hong
Kong, MSC Cruises, Celebrity Cruises, Genting Hong Kong, American Cruise Lines,
Samsung Heavy Industries Co. Ltd., Fincantieri S.P.A., Meyer Werft GmbH &
Co. Kg, Mitsubishi Heavy Industry. Ltd., China State Shipbuilding Corporation,
Oshima Shipbuilding Co. Ltd., MV WERFTEN Wismar GmbH, MS Berlin, Mediterranean
Shipping Company S.A. Key manufacturers are continually working on technical
advancements in the cruise ships technology and an expansion of product
portfolio in order to gain competitive edge in the global cruise ships market.
Based on type, cruise ship market is segmented
into adventure cruises, contemporary cruise, Christmas cruises, family cruise,
classic cruises, ultra-luxury cruises, LGBT cruise, river cruises, luxury
cruises and others. Based on passenger carrying capacity, market is segmented
into 25-30 tons, 50-500 tons, 500-700 tons, 1000-3000tons and more than 5000
tans. Based on service type, market is segmented into passenger tickets,
onboard and other types of services. Passenger ticket segment dominates the
market owing to rise in the number of cruise passengers. In addition, based on
application, market is segmented into entertainment, transportation and others.
The cruise ship market is driven by growth in
tourism sector, followed by increase in disposable income, growth in demand for
river cruises, rise in adoption of Internet of Things (IoT) & service
robots, increase in luxury expenditure amongst the age bracket and rise in hospitality
industry. However, clean sailing through strict regulations and high cost
associated with cruise shipping may impact the market. Moreover, rise in number
of destinations is a key opportunity for market.
Based on geography, the European region holds
major share in cruise ship market owing to high concentration of cruise ship
buildings in the region. The Asian-Pacific and North-American regions are
estimated to witness higher growth rate due to rise in per capita income over
the forecast period. In upcoming years, it is likely to exhibit higher growth
rate on account of growth in prevalence of huge number of millennial
populations along with their strengthening purchasing capacity coupled with
significant demand for voyaging among the generation during the forecast
period.
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