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Sea & Coastal Passenger Water Transport in Belgium - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)

BE-H5011 March 2024 Factsheet

Revenue

€222.5m

2019-2024 25.9 %
2024-2029 X.X %

Employees

273

2019-2024 24.0 %
2024-2029 X.X %

Businesses

68

2019-2024 4.3 %
2024-2029 XX.X %

Wages

€X.Xm

2019-2024 X.X %
2024-2029 XX.X %

Sea & Coastal Passenger Water Transport in Belgium market size outlook

Total value and annual change from from 2014-2029. Includes 5-year outlook.

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About Factsheets

Industry Statistics and Rankings

How does this industry perform in Belgium compared to Europe?

Country Benchmarking

Industry Data Belgium

Ranking are out of 37 European countries for which IBISWorld provides country-level factsheets.

Revenue
#16 In Europe
Business
#18 In Europe
Employees
#17 In Europe
Wages
#20 In Europe

View industry report for Europe

Seaborne passenger transport companies have been wading through turbulent waters in recent years, rocked by COVID-19 and environmental challenges. Prior to the pandemic, cruise and ferry operators had enjoyed a promising period, with a growing market of passengers opting for seaborne transport – but this was brought to a dramatic end as the pandemic sent shockwaves through the industry. Revenue is forecast to dip at a compound annual rate of 8.0% over the five years through 2024 to €28.5 billion.

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Enterprises
Number of businesses in 2024

Biggest companies in the Sea & Coastal Passenger Water Transport in Belgium

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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Top Questions Answered in this Report

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What is the market size of the Sea & Coastal Passenger Water Transport industry in Belgium in 2024?

The market size of the Sea & Coastal Passenger Water Transport industry in Belgium is €222.5m in 2024.

How many businesses are there in the Sea & Coastal Passenger Water Transport in Belgium industry in 2024?

There are 68 businesses in the Sea & Coastal Passenger Water Transport industry in Belgium, which has grown at a CAGR of 4.3 % between 2019 and 2024.

Has the Sea & Coastal Passenger Water Transport industry in Belgium grown or declined over the past 5 years?

The market size of the Sea & Coastal Passenger Water Transport industry in Belgium has been growing at a CAGR of 25.9 % between 2019 and 2024.

What is the forecast growth of the Sea & Coastal Passenger Water Transport industry in Belgium over the next 5 years?

Over the next five years, the Sea & Coastal Passenger Water Transport industry in Belgium is expected to grow.

What are the biggest companies in the Sea & Coastal Passenger Water Transport market in Belgium?

The biggest companies operating in the Sea & Coastal Passenger Water Transport market in Belgium are Carnival Corporation & plc, Royal Caribbean Cruises Ltd and Norwegian Cruise Line Holdings Ltd

What does the Sea & Coastal Passenger Water Transport in Belgium include?

Ferry services and Cruise services are part of the Sea & Coastal Passenger Water Transport industry.

Which companies have the highest market share in the Sea & Coastal Passenger Water Transport in Belgium?

The company holding the most market share in Belgium is Carnival Corporation & plc.

How competitive is the Sea & Coastal Passenger Water Transport industry in Belgium?

The level of competition is moderate and steady in the Sea & Coastal Passenger Water Transport industry in Belgium.

Related Industries

This industry is covered in 37 countries

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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 COSTS

What's included in this industry?

Ferry services Cruise services

Companies

Carnival Corporation & plcRoyal Caribbean Cruises LtdNorwegian Cruise Line Holdings Ltd

Industry Code

ISIC 2006

5011 - Sea and coastal passenger water transport in Belgium

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Performance

Revenue Highlights

Trends
  • Revenue
  • 2024 Revenue CAGR
  • 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
  • Employees
  • Business
  • Profit
Analysis

What's driving current industry performance in the Sea & Coastal Passenger Water Transport in Belgium industry?


Outlook

Analysis

What's driving the Sea & Coastal Passenger Water Transport in Belgium industry outlook?


Volatility

Analysis

What influences volatility in the Sea & Coastal Passenger Water Transport in Belgium 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 Belgium 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.

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Products and Services

Charts
  • Products and Services Segmentation
Analysis

How are the Sea & Coastal Passenger Water Transport in Belgium industry's products and services performing?

Analysis

What are innovations in the Sea & Coastal Passenger Water Transport in Belgium industry's products and services?


Major Markets

Charts
  • Major Market Segmentation
Analysis

What influences demand in the Sea & Coastal Passenger Water Transport in Belgium industry?


International Trade

Highlights

  • Total Imports into Belgium
  • Total Exports into Belgium
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)

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.

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Supply Chain

Charts

Buyer and supply industries

Geographic Breakdown

Business Locations

Heat maps
  • Share of Total Industry Establishments by Region (2024)
Data Tables
  • Number of Establishments by Region (2024)
Charts
  • Share of Establishments vs. Population of Each Region
Analysis

What regions are businesses in the Sea & Coastal Passenger Water Transport in Belgium located?

Companies

Data Tables

Top 10 companies by market share:

  • Market share (2024)
  • Revenue (2024)
  • Profit (2024)
  • Profit margin (2024)

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.

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External Drivers

Analysis

What demographic and macroeconomic factors impact the Sea & Coastal Passenger Water Transport in Belgium 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.

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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 Belgium 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?

IBISWorld is a world-leading provider of business information, with reports on 5,000+ industries in Australia, New Zealand, North America, Europe and China. Our expert industry analysts start with official, verified and publicly available sources of data to build an accurate picture of each industry.

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. 

IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools.

To learn more about specific data sources used by IBISWorld's analysts globally, including how industry data forecasts are produced, visit our Help Center.