US Cruise Companies, Market Share (% of Total Market)

Part
01
of two
Part
01

US Cruise Industry Market Size

The 2018 US cruise industry market size was estimated to be $19.50 Billion. The Unites States has the largest volume in terms of cruise passengers worldwide with 13.09 million passengers in 2018, a 10% increase from the previous 11.94 million.

US CRUISE INDUSTRY market size

  • The 2018 total global market size for the cruise industry has an estimated value of $45.6 billion. North America accounted for an approximate 47% of global expenditures in the previous year, and has a large share of passenger volume.
  • In the North America region, there is a continued steady growth due to an increase in the demand for cruising. The United States is considered as the largest source market as it accounted for 91% of North America's region passenger volume with 11.94 million in 2017.
  • In 2018, the passenger volume increased by 10% with a total of 13.09 million passengers.
  • From this data, the market size for the cruise industry in the United States can be estimated to be $19.50 Billion.

other useful FINDINGS

  • In 2017, an approximate 12.2 million passengers originated from US ports.
  • Port Everglades, Miami, Port Canaveral, Galveston and Long Beach are the 5 largest ports in the United States and accounted for two-thirds of the country's passenger embarkation in 2017.
  • A 2018 Passenger Report by Cruise Lines International Association reveals that adult Americans aged 70 and older are the most prominent passengers accounting for 14% of the overall US passengers.
  • 7-day cruise is the average duration of the trips in the US.

Research Strategy:

To find the market size of the US cruise industry, we reviewed industry reports, media news articles and press releases. We searched credible sources such as Florida-Caribbean Cruise Association, Cruise Industry News, Cruise Lines International Association, Cruise Market Watch and similar sites. Unfortunately, there were no pre-compiled reports found to answer this request. However, information from these industry reports provided us with sufficient data points to be able to answer this through triangulation.
  • First, we reviewed other previous requests completed in line with the assigned request, and noted the global market size used. To provide a consistent brief, we utilized the same figure as our basis.
  • We then looked for segmentation, either by global regions or countries. This report provides the regional segmentation for North America, where it also discusses what percentage accounted for passengers in the US. As the revenue gathered from cruise passengers, we have used this percentage. The data points in this report were utilized by calculating it against the 2018 global market size.
  • For additional findings, we also included the US passenger report to provide information on top US cruise passengers by age, destination, and states.

CALCULATION

  • To calculate the market size of the US cruise industry, the global market size figure was multiplied to the North America region segment, of which the answer was multiplied to the US percentage segment as below:
($45.6 billion*47%)*91%= $19.50 Billion

Part
02
of two
Part
02

US Cruise Companies, Market Share (By % of Total Market)

The Royal Caribbean has the largest market share of 30.492% in the US cruise industry. The details of the market share of each of the companies identified in a previous request as well as the corresponding calculations are below.

ROYAL CARIBBEAN

  • Royal Caribbean has a US market share of 30.492%.

PRINCESS

  • Princess has a US market share of 19.82%.

COSTA CRUISE

  • Costa Cruise has a US market share of 19.384%.

MSC CRUISE

  • MSC Cruise has a US market share of 14.81%.

HOLLAND AMERICA

  • Holland America has a US market share of 12.197%.

CELEBRITY CRUISES

  • Celebrity Cruises has a US market share of 11.543%.

AIDA CRUISES

  • AIDA Cruises has a US market share of 10.02%.

OCEANIA CRUISE

  • Oceania Cruise has a US market share of 5%.

DISNEY CRUISE

  • Disney Cruise has a US market share of 4.792%.

ASSUMPTIONS AND CALCULATIONS

As determined in a previous request, the US cruise industry market has a size of $20.93 billion. Also, it was determined that the US cruise market represents 45.91% of the global market. In another brief, it was also found that the global cruise industry market has a size of $45.6 billion, and the 10 players identified in the industry have market shares as follows: Royal Caribbean = 14%, Princess = 9.1%, Costa Cruise = 8.9%, MSC Cruise = 6.8%, Holland America = 5.6%, Celebrity Cruises = 5.3%, AIDA Cruises = 4.6%, Oceania Cruise = 2.3%, and Disney Cruise = 2.2%.
To estimate the US market share of each of the companies mentioned above, it was assumed that the market share of each of the companies scale linearly. That is, the magnitude of each company's global market share is proportional to their US market share. To find the US market share then, a scaling factor was used. The scaling factor expresses by how much the global market share multiplies (scales) the US market share. The scaling factor = global industry market share (100%) / US market share of the global industry (45.91%) = 2.178. That is, to get the US market share, the global market share is multiplied by a factor of 2.178.
Thus, Royal Caribbean's US market share = 2.178 * 14% = 30.492%.
Princess' US market share = 2.178 * 9.1% = 19.82%.
Costa Cruise's US market share = 2.178 * 8.9% = 19.384%.
MSC Cruise's US market share = 2.178 * 6.8% = 14.81%.
Holland America's US market share = 2.178 * 5.6% = 12.197%.
Celebrity Cruises’ US market share = 2.178 * 5.3% = 11.543%.
AIDA Cruises’ US market share = 2.178 * 4.6% = 10.02%.
Oceania Cruise's US market share = 2.178 * 2.3% = 5%.
Disney Cruise's US market share = 2.178 * 4.6% = 4.792%.

Sources
Sources

From Part 01
Quotes
  • "The 2018 total worldwide ocean cruise industry is estimated at $45.6 billion (a 4.6% increase over 2017) with 26.0 million annualized passengers carried (a 3.3% increase over 2017)."
Quotes
  • "On a regional basis, North America and Europe had direct expenditure totals of $28.8 and $21.3 billion, respectively. Thus, they accounted for about 47 percent and 35 percent of the total global direct expenditures, respectively. "
  • "North America accounted for 49 percent of the 26.75 million global cruise passengers with 13.12 million passengers. "
  • "Within North America, 11.94 million passengers were sourced from the United States and accounted for 91 percent of the region’s cruise passengers (see Figure 2). "
  • " In 2017, the five largest cruise ports, Miami, Port Canaveral, Port Everglades, Galveston and Long Beach accounted for about two-thirds of the passenger embarkations in the United States. "
  • "In addition to being the largest source market, the United States is also the largest originator of cruises. During 2017, cruises originating from U.S. ports carried an estimated 12.2 million passengers. Thus, passenger embarkations in the United States accounted for 46 percent of the 26.75 million global embarking passengers. "