The river cruise market should generate a turnover of
NEWARK, Del, Aug. 23, 2022 (GLOBE NEWSWIRE) — The global river cruise market is expected to reach an estimated value of US$1.71 billion in 2032, with sales growing at a flat CAGR of 2% over the period. forecast from 2022 to 2032. In 2022, the river cruise market is likely to reach a valuation of US$1.45 billion. The demand for river cruises is expected to increase sharply over the next few years.
River cruisers are smaller in size in order to move smoothly through rivers and shallow waters. These cruises provide leisurely exploration of different cities, towns, villages and some areas where larger ships cannot travel. River cruises offer a relaxed and intimate experience. This contributes to the increase in river cruise sales. However, the overall experience of a river cruise is far less grand than the experience of an ocean cruise.
A river cruise has some advantages, such as no hassle of packing and unpacking due to hotel changes, less chance of motion sickness as the land is always inside the site, and no extra hassle of planning travel activities as it is taken care of once the cruise is booked. With the cruise’s small size, the traveler can also enjoy a tight-knit affair. Additionally, many river cruises also offer personalized services from the crew. All these assets have a positive influence on the river cruise market.
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The river cruise market is gradually attracting interest from a wide range of age groups as these cruises cater to the interests of people from all walks of life with various onboard entertainment programs and more. Market players are also introducing new state-of-the-art vessels, equipped with technologically advanced tools. All these factors enhance the market opportunities for river cruises.
However, the fact that travelers are often forced to stick to the schedule, unable to stay longer in a certain place or stop at a more attractive place is a drag on the market. Again, some cruises are for adults only and not intended for children. This too is likely to hamper the future prospects of the river cruise market.
Despite some hurdles, river cruises are growing in popularity as they guarantee tight-knit, laid-back and adventurous vacations, attracting many travelers and tourists.
“Hassle-free exploration of different cities, towns and villages with reduced risks of motion sickness will likely foster a growth atmosphere for the river cruise market over the forecast period,” says an IMF analyst.
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Key points to remember:
- Advances in technology and in-flight entertainment are driving the market outlook.
- The need to fully adhere to a schedule can hamper market opportunities.
- Rising environmental concerns may hamper the market growth over the forecast period
- London, Paris, Budapest, Bangkok, New York, San Antonio, Singapore, Ho Chi Minh City and Amsterdam are some of the most popular places for river cruises.
- The river cruise market is growing mainly in Europe, Africa, Southeast Asia and the United States
Viking River Cruises, Uniworld River Cruises, American Cruise Lines, AmaWaterways, Avalon Waterways, and American Queen Voyages, among others, are some of the key river cruise market players profiled in the comprehensive version of the report.
Major market players are keen to incorporate technology that enables better passenger experience to gain competitive advantage.
More information about the River Cruise Market report
In its latest report, FMI offers an unbiased analysis of the global river cruise market, providing historic data from 2014 to 2020 and forecast statistics from 2022 to 2032. To understand the potential, growth, and scope of the global market, the market is segmented based on type (onboard facilities), age range (15-25, 26-35, 36-45, 46-55, 56-65, 66-75), customer orientation (man, woman, others), and region.
According to the latest IMF reports, based on the region, Europe, Southeast Asia and Africa exhibit some of the most lucrative opportunities for the river cruise market over the forecast period. Some of the most popular river cruise destinations are cities like London, Paris, Amsterdam, Budapest, Bangkok, Singapore, Ho Chi Minh City, New York, San Antonio, Luxor, and Cairo.
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Key segments profiled in the River Cruise Market study
- On-board facilities
- Passenger tickets
By age group:
- 15-25 years old
- 26-35 years old
- 36-45 years old
- 46-55 years old
- 56-65 years old
- 66-75 years old
By customer orientation:
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
1.4. Analysis of the technology roadmap
1.5. Analysis and recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limits
3. Market context
3.1. Market dynamics
3.2. Scenario forecast
3.2.1. Demand in the optimistic scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in the conservative scenario
3.3. Opportunity Map Analysis
3.4. Product life cycle analysis
Get a detailed table of contents @ https://www.futuremarketinsights.com/toc/rep-gb-3015
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