The United States large ocean cruise industry is valued between $21.26 billion and $25.81 billion. The major players in the industry are Carnival Corporation, Royal Caribbean Cruises Ltd., Star Cruises and Disney Cruise Line. Unfortunately, we were unable to determine the market share of these companies in the United States. We, however, provided their global market share. Below, we have provided a detailed overview of our calculations and assumptions, and overall research methodology.
Methodology
We commenced this research by searching for market reports and research on the ocean cruise industry. While there were a plethora of articles and reports on the subject matter, there were neither any comprehensive reports that focused exclusively on the United States or that provided all the requested information. Based on the nature of this request, we quickly recognized that a triangulation would be necessary as we were able to pull together data points that would serve as the base of our calculations.
As regards the major players in the United States market, IBISWorld reported Carnival Corporation, Royal Caribbean Cruises Ltd., Star Cruises and Disney Cruise Line as the biggest players, without stating their market share. To find the market share of these companies in the United States, we sought to find their respective revenues specific to the United States, but this was not available in the public domain. We searched through company annual reports for public companies and also performed a general press search on the subject matter. None of these strategies yielded any useful data points. As a proxy, we provided each companies global market share in 2018.
Overall United States Cruise Line Market Size
METHOD 1
The cruise line passenger volume in the United States was 13,090,800 in 2018. In North America, the passenger volume was 14,167,168, while the global cruise line passenger volume was 26,001,022 in 2018. Therefore, the market share of the United States cruise line is
According to Cruise Market, the global ocean cruise industry was estimated at $45.6 billion in 2018. Therefore, the United States cruise line market is:
METHOD 2:
GROWTH RATE
Period (2020-2015): 5
Growth rate: Unknown
The growth rate was calculated as 6.31%
Using this growth rate, the market size for 2018 was $27.87 billion, by imputing the following variables:
Initial value (2018 market size): Unknown
Period (2020-2018): 2
Growth rate: 6.31%
Therefore, the United States cruise line market is valued between $22.96 billion and $27.87 billion.
United States Large Cruise Lines market size
Viking is the leading luxury cruise line provider globally, with a market share of 26 percent and approximately 500,000 passengers yearly. This means the total passenger volume of the luxury cruise line is: (500,000 * 100) /26 = 1,923,077
This figure is about 7.4% (1,923,077/26,001,022) of global passenger line. Therefore, large cruise lines make up about 92.6% (100-7.4) of the global ocean cruise industry. Assuming this figure is the same for the United States, then the market size of large cruise lines in the United States is valued between $21.26 billion (92.6% of $22.96 billion) and $25.81 billion (92.6% of $27.87 billion). Major players
According to IBISWorld, the companies with the largest share of the United States are Carnival Corporation, Royal Caribbean Cruises Ltd., Star Cruises and Disney Cruise Line. Globally, their market shares are:
Carnival Corporation: 44.1% Royal Caribbean Cruises Ltd.: 23.9%