Smooth Sailing: Cruise lines will continue to benefit from rising income levels and increased consumer spending on recreation

The Ocean and Coastal Transportation industry, which includes both cruise lines that transport passengers to vacation destinations and freight shippers that transport cargo to and from US ports, has experienced limited growth over five years to 2018. While rising US trade activity bolstered industry revenue during the first half of the five-year period, overcapacity in the deep-sea freight shipping market has constrained industry growth in recent years. Over five years to 2023, the industry's cruise lines will continue to benefit from rising income levels and increased consumer spending on recreation...purchase to read more.

Industry Statistics & Market Size
Annual Growth 13-18
Forecast Growth 18-23

Industry Threats & Opportunities

  • Revenue has been sustained by the industry’s cruise lines, which have grown due to rising disposable income and recreation expenditure
  • Volatility in demand for services has led to chronic overcapacity for US shipping companies
  • The volume of cargo being moved through US ports is expected to increase significantly
  • Industry Report - Industry Products Chapter

    Deep-sea passenger transportationThe deep-sea transportation of passengers represents an estimated 56.3% of the Ocean and Coastal Transportation industry's revenue in 2018. Cruise ships are typically resort-like passenger ships that offer round-trip vacations lasting anywhere from three days to more than three months. To be included in the Ocean and Coastal Transportation industry, cruises must last at least two nights, or they are classified in the Sightseeing Transportation industry (IBISWorld report 48710). Ove...purchase to read more.

    Additional Insights for the Ocean & Coastal Transportation Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Ocean & Coastal Transportation Industry are

  • Business expertise of operators
  • Rapid Expansion and Reduction of Operations in line with Demand
  • User and Consumer Friendly Experiences
  • IBISWorld analysts also discuss how external factors such as Total trade value and Total recreation expenditure in the Ocean & Coastal Transportation industry impact industry performance..

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    What's in this report

    What is the Ocean & Coastal Transportation Industry?

    This industry provides deep-sea, coastal, Great Lakes and St. Lawrence Seaway water transportation. The deep-sea shipping activity includes US-flagged vessels and non-US-flagged vessels (operators must be primarily US based). Marine transportation establishments that use the St. Lawrence River are considered a part of the Great Lakes Water Transportation System and are thus included in this report. This industry also includes deep-sea passenger transportation, such as cruise ships.

    Industry Products
  • Deep-sea passenger transportation
  • Deep-sea freight transportation
  • Coastal and Great Lakes freight transportation
  • Coastal and Great Lakes passenger transportation
  • Industry Activities
  • Deep-sea water transportation
  • Coastal water transportation
  • Great Lakes water transportation
  • St. Lawrence Seaway water transportation
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Total trade value
  • Total recreation expenditure
  • Consumer spending
  • Freight transportation services index
  • Industrial production index
  • World price of crude oil

  • Current Performance
  • Smooth sailing for cruise lines
  • Freight shippers remain in rough waters
  • Profit and participation
  • Chart: Revenue Growth

  • Industry Outlook
  • Freight shipping market improves, but threats remain
  • Cruise lines expand
  • Industry landscape
  • Table: Ocean & Coastal Transportation Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Ocean & Coastal Transportation Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Wheat, Barley & Sorghum Farming
  • Mining
  • Manufacturing
  • Wholesale Trade

  • Key Selling Industries
  • Boat Building
  • Port & Harbor Operations
  • Ship Building
  • Tugboat & Shipping Navigational Services

  • Products & Services
  • Deep-sea passenger transportation
  • Deep-sea freight transportation
  • Coastal and Great Lakes freight transportation
  • Coastal and Great Lakes passenger transportation
  • Chart: Ocean & Coastal Transportation Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Individual consumers
  • Freight shippers
  • Chart: Major Market Segmentation for the Ocean & Coastal Transportation Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Depreciation
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Ocean & Coastal Transportation

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Ocean & Coastal Transportation Industry

  • Industry Globalization
    Carnival Corporation, Royal Caribbean Cruises Ltd., Norwegian Cruise Line Holdings Ltd.,
  • Table: Carnival Corporation - financial performance
  • Table: Royal Caribbean Cruises Ltd. - financial performance
  • Table: Norwegian Cruise Line Holdings Ltd. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Ocean & Coastal Transportation Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Ocean & Coastal Transportation Industry
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Total recreation expenditure (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
  • A route-specific agreement between carriers to charge common freight-rates; pool revenue, costs and profit; and engage in capacity management.
  • Containerized
  • To transport cargo by container.
  • Deadweight Tonnage
  • A measure of how much weight a ship is carrying or can safely carry.
  • Flag Of Convenience
  • The practice of a national owner registering one or more vessels in another nation to avoid higher regulatory and manning costs.
  • St. Lawrence Seaway
  • A system of canals and locks that enables ocean-going vessels to travel from the Atlantic Ocean to the Great Lakes.
  • Teu
  • TEU stands for twenty foot equivalent unit, which is the standard size of a shipping container. TEU is commonly used as a unit of measurement for ship capacity.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Ocean & Coastal Transportation Industry Research Report offers insight into the market at the national level. Our analysis highlights macro trends in the overall sector and the micro trends faced by companies that do business in the Ocean & Coastal Transportation industry. Our five-year outlook forecasts explain how the market is set to change and the product segments that will drive growth.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Ocean & Coastal Transportation:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Ocean & Coastal Transportation market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Ocean & Coastal Transportation, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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