Cruise Ships Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 8/23/2021
SIC Codes: 4481, 4489
NAICS Codes: 483112, 483114, 483212
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Cruise Ships Industry Profile

Companies in this industry operate deep sea, inland, and coastal/Great Lakes cruise ships. Major companies in the deep sea cruise segment, which accounts for about 95% of industry revenue, include Carnival, Disney, Norwegian Cruise Line, and Royal Caribbean Cruises (all headquartered in the US); major operators based outside of the US include Color Line of Color Group (Norway), Genting Hong Kong (China), and Viking (Finland).

Top deep sea cruise destinations include the Caribbean, the Mediterranean, Europe, China, and Australia. The Caribbean is the most popular, representing about a third of all deep sea cruises, according to the Cruise Lines International Association. By 2027, about 51% of the world's cruise passengers is expected to be from North America. China is emerging as the industry's fastest-growing market, with the Ministry of Tourism estimating that 4.5 million Chinese will take cruises by 2020, rising to 10 million in 2030.

The US cruise ship industry includes about 486 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $23 billion.


Demand for cruises is driven by consumer disposable income and vacation preferences. Small operators have the competitive advantage of lower labor and equipment costs and more personalized service; large operators benefit from stronger bargaining power in vendor contracting, the ability to spread costs over a larger number of passengers, and greater financial resources for marketing, expansion, and investment. The US deep ...

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