Research Nester released a report titled “Luxury Cruise Ships Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers detailed overview of the global luxury cruise ships market in terms of market segmentation by therapy type, application and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The luxury cruise ships market is projected to grow with a significant CAGR during the forecast period, i.e., 2021-2029 on account of the increasing the amenities, innovative services and trends for use of small luxury yachts, and small ships. According to the Cruise Lines International Association, Inc. the total number of global ocean cruise passengers increased from 23.06 million in the year 2015 to 30 million in the year 2019.
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The market is segmented by cruising type into ocean cruises, river cruises, and others. Among these segments, the ocean cruise segment is anticipated to hold the largest share by the end of 2021 in the luxury cruise ships market as a result of the more facilities are offered in ocean cruising as compared to river cruising. Furthermore, the ocean cruises sale for longer time frame along with offering the travelers to sight the unseen destinations and covering different countries.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the luxury cruise ships market in the North American market is predicted to grow at the highest CAGR over the forecast period, and currently, the market in North America holds the largest share. This can be attributed to the to the rapid upsurge in number of tourists travelling in luxury cruise ships at popular destinations in the U.S., U.K, Caribbean Islands, Canada, Mexico, France, Germany, Italy, and numerous other countries across Europe and North America
Increase in the disposable income of the people around the world to Drive Market Growth
According to the Worlddata.info, Monaco accounted for most average income per year following Bermuda, Switzerland, Norway, United States, Ireland, Denmark, Singapore, Sweden, and Australia, among others.
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“The Final Report will cover the impact analysis of COVID-19 on this industry.”
With the increase in the disposable incomes of the people, the spending for leisure has also increased. Additionally, the rising trends to travel in cruise ships for leisure among the countries with more average annual income is growing the market. However, the expensive costs to travel in these luxury cruise ships, and environmental concerns among people are some of the factors that are estimated to restrain market growth in the near future.
This report also provides the existing competitive scenario of some of the key players of the global luxury cruise market which includes company profiling of Royal Caribbean International (NYSE: RCL), Azamara, Oceania Cruises S. de R.L., Viking Ocean Cruises, Seabourn (NYSE: CCL), Crystal Cruises, Regent Seven Seas Cruises, Silversea Cruises, Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH), American Cruise Lines. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global Luxury Cruise Ships market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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