Industry Statistics and Trends
Sea & Coastal Passenger Water Transport in Europe key trends
Pandemic-related restrictions rock seaborne transport.
The effectively brought the industry to a standstill for large parts of 2020 and early 2021, spurring a sharp drop in revenue and widespread operating losses.
Surging fuel costs pile on the pressure.
Legislation limiting sulphur in marine fuels and geopolitical tensions have driven fuel costs higher, putting a dent in cruise and ferry operators’ returns.
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Sea & Coastal Passenger Water Transport in Europe
Industry Revenue
Total value and annual change from 2011-2029. Includes 5-year outlook.
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Sea & Coastal Passenger Water Transport in Europe market size (2019-2024)
Industry revenue has declined at a CAGR of 8.0 % over the past five years, to reach an estimated €28.5bn in 2024.
Trends and Insights
COVID-19 drives a collapse in revenue and pushes most companies into the red
- Pandemic-related restrictions on international travel and strict social distancing measures had a devastating impact on passenger ferry and cruise companies.
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Sea & Coastal Passenger Water Transport in Europe outlook (2024-2029)
Market size is projected to grow over the next five years.
Eco-efficiency goals necessitate ongoing investment from European cruise and ferry operators
- The European cruise industry has committed to achieving net-zero carbon emissions by 2050. With the shipping sector currently responsible for 13.5% of all greenhouse gas emissions from transport in the EU, significant change is required to achieve this lofty goal.
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Revenue
€28.5bn
Employees
109k
Wages
€X.Xbn
European Leaders & Laggards
Top 5 Countries
- Iceland +30.7%
- Belgium +24.0%
- Romania +21.2%
- United Kingdom +14.3%
- Lithuania +10.8%
Bottom 5 Countries
- Cyprus -23.4%
- Bulgaria -18.7%
- Malta -10.2%
- Switzerland -9.2%
- Greece -6.6%
* CAGR values are for the years 2019-2024.
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Biggest companies in the Sea & Coastal Passenger Water Transport in Europe
| Company | Market Share (%)
2024 | Revenue (€m)
2024 | Profit (€m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Carnival Corporation & plc | 21,832.2 | 2,510.7 | 11.5 | |
Royal Caribbean Cruises Ltd | 11,985.4 | 2,617.0 | 21.8 | |
Norwegian Cruise Line Holdings Ltd | 8,341.0 | 1,036.2 | 12.4 |
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Sea & Coastal Passenger Water Transport in Europe
Products & Services Segmentation
Industry revenue broken down by key product and services lines.
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Top Questions Answered in this Report
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What is the market size of the Sea & Coastal Passenger Water Transport industry in Europe in 2024?
The market size of the Sea & Coastal Passenger Water Transport industry in Europe is €28.5bn in 2024.
How many businesses are there in the Sea & Coastal Passenger Water Transport in Europe industry in 2024?
There are 10,091 businesses in the Sea & Coastal Passenger Water Transport industry in Europe, which has grown at a CAGR of 0.4 % between 2019 and 2024.
Has the Sea & Coastal Passenger Water Transport industry in Europe grown or declined over the past 5 years?
The market size of the Sea & Coastal Passenger Water Transport industry in Europe has been declining at a CAGR of 8.0 % between 2019 and 2024.
What is the forecast growth of the Sea & Coastal Passenger Water Transport industry in Europe over the next 5 years?
Over the next five years, the Sea & Coastal Passenger Water Transport industry in Europe is expected to grow.
What does the Sea & Coastal Passenger Water Transport in Europe include?
Ferry services and Cruise services are part of the Sea & Coastal Passenger Water Transport industry.
Which countries have the most businesses in the Sea & Coastal Passenger Water Transport industry in Europe?
The European country with the most businesses in the Sea & Coastal Passenger Water Transport industry is Turkey.
How competitive is the Sea & Coastal Passenger Water Transport industry in Europe?
The level of competition is high and increasing in the Sea & Coastal Passenger Water Transport industry in Europe.
Related Industries
This industry is covered in 37 countries
- Sea & Coastal Passenger Water Transport in Greece
- Sea & Coastal Passenger Water Transport in Russia
- Sea & Coastal Passenger Water Transport in the Netherlands
- Sea & Coastal Passenger Water Transport in Belgium
- Sea & Coastal Passenger Water Transport in Italy
- Sea & Coastal Passenger Water Transport in Sweden
- Sea & Coastal Passenger Water Transport in Cyprus
- Sea & Coastal Passenger Water Transport in Latvia
- Sea & Coastal Passenger Water Transport in Portugal
- Sea & Coastal Passenger Water Transport in Lithuania
- Sea & Coastal Passenger Water Transport in Hungary
- Sea & Coastal Passenger Water Transport in the UK
- Sea & Coastal Passenger Water Transport in Denmark
- Sea & Coastal Passenger Water Transport in Germany
- Sea & Coastal Passenger Water Transport in Malta
- Sea & Coastal Passenger Water Transport in Croatia
- Sea & Coastal Passenger Water Transport in Spain
- Sea & Coastal Passenger Water Transport in Romania
- Sea & Coastal Passenger Water Transport in Czechia
- Sea & Coastal Passenger Water Transport in Turkey
- Sea & Coastal Passenger Water Transport in Ireland
- Sea & Coastal Passenger Water Transport in Estonia
- Sea & Coastal Passenger Water Transport in Iceland
- Sea & Coastal Passenger Water Transport in Europe
- Sea & Coastal Passenger Water Transport in the UK
- Sea & Coastal Passenger Water Transport in France
- Sea & Coastal Passenger Water Transport in Norway
- Sea & Coastal Passenger Water Transport in Switzerland
- Sea & Coastal Passenger Water Transport in Poland
- Sea & Coastal Passenger Water Transport in Finland
- Sea & Coastal Passenger Water Transport in Slovenia
- Sea & Coastal Passenger Water Transport in Bulgaria
Table of Contents
About this industry
Industry definition
The industry includes the transport of passengers on vessels designed for operating on sea or coastal waters. This includes excursion, cruise or sightseeing boats; ferries and water taxis; and pleasure boats that are rented out with crew for sea or coastal transport.
Related Terms
SCRUBBER SYSTEM FUEL SURCHARGE BUNKER COSTSWhat's included in this industry?
Ferry services Cruise servicesCompanies
Carnival Corporation & plcRoyal Caribbean Cruises LtdNorwegian Cruise Line Holdings LtdIndustry Code
5011 - Sea and coastal passenger water transport in Europe
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Performance
Key Takeaways
COVID-19 drives a collapse in revenue and pushes most companies into the red
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Revenue Highlights
Trends
- Revenue
- 2024 Revenue Growth
- Revenue Volatility
Employment Highlights
Trends
- Employees
- Employees per Business
- Revenue per Employee
Business Highlights
Trends
- Businesses
- Employees per Business
- Revenue per Business
Profit Highlights
Trends
- Total Profit
- Profit Margin
- Profit per Business
Current Performance
Charts
- Revenue in the Sea & Coastal Passenger Water Transport in Europe industry (2011 -2029)
- Employees in the Sea & Coastal Passenger Water Transport in Europe industry (2011 -2029)
- Business in the Sea & Coastal Passenger Water Transport in Europe industry (2011 -2029)
- Profit in the Sea & Coastal Passenger Water Transport in Europe industry (2011 -2029)
Analysis
What's driving current industry performance in the Sea & Coastal Passenger Water Transport in Europe industry?
Outlook
Analysis
What's driving the Sea & Coastal Passenger Water Transport in Europe industry outlook?
Volatility
Analysis
What influences volatility in the Sea & Coastal Passenger Water Transport in Europe industry?
Charts
- Industry Volatility vs. Revenue Growth Matrix
Life Cycle
Analysis
What determines the industry life cycle stage in the Sea & Coastal Passenger Water Transport in Europe industry?
Charts
- Industry Life Cycle Matrix
Products and Markets
Highlights
Trends
- Largest Market
- Product Innovation
Key Takeaways
Cruise operators seek to appeal to younger customers. Traditionally associated with retirees, cruise companies have made a concerted effort to appeal to different demographics, particularly young families.
Products and Services
Charts
- Products and Services Segmentation
Analysis
How are the Sea & Coastal Passenger Water Transport in Europe industry's products and services performing?
Analysis
What are innovations in the Sea & Coastal Passenger Water Transport in Europe industry's products and services?
Major Markets
Charts
- Major Market Segmentation
Analysis
What influences demand in the Sea & Coastal Passenger Water Transport in Europe industry?
International Trade
Highlights
- Largest Importer
- Smallest Importer
- Total Imports into Europe
- Largest Exporter
- Smallest Exporter
- Total Exports into Europe
Heat maps
- Industry Concentration of Imports by Country
- Industry Concentration of Exports by Country
Data Tables
Value and annual change (%) included
- Number of Imports and Exports by European Country (2024)
Geographic Breakdown
Business Locations
Heat maps
- Share of Total Industry Revenue by Region (2024)
- Share of Total Industry Enterprises by Region (2024)
- Share of Total Industry Employment by Region (2024)
- Share of Total Industry Wages by Region (2024)
Industry Geographic Breakdown
Data Tables
Values and annual change provided for 37 European countries:
- Revenue (2024)
- IVA (2024)
- Enterprises (2024)
- Employment (2024)
- Exports (2024)
- Imports (2024)
Competitive Forces
Highlights
Trends
- Concentration
- Competition
- Barriers to Entry
- Substitutes
- Buyer Power
- Supplier Power
Key Takeaways
Globally significant cruise and ferry operators dominate the market. Even though major multinational hold big market shares, opportunities remain for smaller companies operating on specific routes.
Supply Chain
Charts
Buyer and supply industries
Companies
Market Share
Charts
- Industry Market Share by Company (2019-2024)
Companies
Data Tables
Top 10 companies by market share:
- Market share (2024)
- Revenue (2024)
- Profit (2024)
- Profit Margin (2024)
Data Tables
- Countries of operation for Carnival Corporation & plc
- Countries of operation for Royal Caribbean Cruises Ltd
- Countries of operation for Norwegian Cruise Line Holdings Ltd
- Countries of operation for Tui AG
- Countries of operation for MSC Cruises GmbH
- Countries of operation for Stena Line Scandinavia AB
- Countries of operation for Det Forenede Dampskibs-Selskab A/S
- Countries of operation for David MacBrayne Ltd
- Countries of operation for Bonheur ASA
- Countries of operation for Ponant SARL
External Environment
Highlights
Trends
- Regulation & Policy
- Assistance
Key Takeaways
More stringent efficiency regulations necessitate significant investment. Cruise and passenger ferry operators have been forced to make modifications to their fleet in response to tightened environmental legislation.
External Drivers
Analysis
What demographic and macroeconomic factors impact the Sea & Coastal Passenger Water Transport in Europe industry?
Financial Benchmarks
Highlights
Trends
- Profit Margin
- Average Wage
- Largest Cost
Key Takeaways
Profitability stays below its pre-COVID-19 level. Passenger numbers are recovering from pandemic-induced lows, supporting a return to profitability, but high fuel costs and ongoing economic uncertainty are keeping returns depressed.
Cost Structure
Charts
- Share of Economy vs. Investment Matrix
-
Industry Cost Structure Benchmarks:
- Marketing
- Depreciation
- Profit
- Purchases
- Wages
- Rent
- Utilities
- Other
Analysis
What trends impact cost in the Sea & Coastal Passenger Water Transport in Europe industry?
Key Ratios
Data tables
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
- Revenue per Employee (2014-2029)
- Wages/Revenue (2014-2029)
- Employees per Establishment (2014-2029)
- Average Wage (2014-2029)
Country Benchmarks
European Leaders & Laggards
Data Tables
Top and boottom five countries listed for each:
- Revenue Growth (2024)
- Business Growth (2024)
- Job Growth (2024)
European Country Performance
Data Tables
Rankings available for 37 countries. Statistics ranked include:
- IVA/Revenue (2024)
- Imports/Demand (2024)
- Exports/Revenue (2024)
- Revenue per Employee (2024)
- Wages/Revenue (2024)
- Employees per Establishment (2024)
- Average Wage (2024)
Structural Comparison
Data Tables
Trends in 37 countries benchmarked against trends in Europe
- Concentration
- Competition
- Barriers to Entry
- Buyer Power
- Supplier Power
- Volatility
- Capital Intensity
- Innovation
- Life Cycle
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
Where does IBISWorld source its data?
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Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and IBISWorld's proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
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