New ships will drive industry growth globally and the pattern is largely determined by the existing orderbook through 2027, according to the 2019 Cruise Industry News Annual Report. While adjustments may come from not-yet announced retirements and deployment changes, the overall pattern is largely set.
Forecasting for the North American market, industry capacity is expected to grow from about 15.6 million passengers (double capacity) this year, to more than 21 million by 2027. That means that the American market has to generate approximately 600,000 new passengers each year for the next nine years.
The European market, which is forecast to generate some 8 million passengers this year, will grow to an estimated 12.5 million passengers by 2027 based on the current orderbook.
These numbers will fluctuate somewhat by American brands sourcing passengers in Europe and a smaller number of Americans sailing on European ships. China may also play a role, if that market picks up, and more western ships were to be deployed there.
This year, the Asian fleet, including China and Australia, is expected to carry more than 4 million passengers and the forecast has that number swelling to around 7 million by 2027.
About the Annual Report:
The Cruise Industry News Annual Report is the only book of its kind, presenting the worldwide cruise industry through 2027 in 400 pages.
Statistics are independently researched.
The report covers everything from new ships on order to supply-and-demand scenarios from 1987 through 2027+. Plus there is a future outlook, complete growth projections for each cruise line, regional market reports, and detailed ship deployment by region and market, covering all the cruise lines.