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Sea & Coastal Passenger Water Transport in the UK - Market Size, Industry Analysis, Trends and Forecasts (2024-2028)

IBISWorld IBISWorld London, United Kingdom Last Updated: December 2024 SIC UK-H5011

Revenue

£28.5bn

2024-25

£29.4bn

Past 5-Year Growth

Profit

£X.Xbn

Employees

109k

Businesses

10,091

Wages

£X.Xbn

Sea & Coastal Passenger Water Transport in the UK industry analysis

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. 

Trends and Insights

  • Pandemic-related restrictions rock seaborne transport. The effectively brought the industry to a standstill for large parts of 2020 and early 2021, spurring a sharp drop in revenue and widespread operating losses.
  • 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.
  • 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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Top Questions Answered in this Report

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What is the market size of the Sea & Coastal Passenger Water Transport industry in the United Kingdom in 2025?

The market size of the Sea & Coastal Passenger Water Transport industry in the United Kingdom is £28.5bn in 2025.

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

There are 10,091 businesses in the Sea & Coastal Passenger Water Transport industry in the United Kingdom, which has grown at a CAGR of 0.4 % between 2019 and 2024.

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

The market size of the Sea & Coastal Passenger Water Transport industry in the United Kingdom has been declining at a CAGR of 5.1 % between 2019 and 2024.

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

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

What does the Sea & Coastal Passenger Water Transport industry in the United Kingdom include?

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

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

The level of competition is high and increasing in the Sea & Coastal Passenger Water Transport industry in the United Kingdom.

Everything you need in one report

  • Reliable market estimates from 2014-2029
  • Competitive analysis, industry segmentation, financial benchmarks
  • Powerful SWOT, Porter’s Five Forces and risk management frameworks
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Table of Contents

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 the UK 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 the UK 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 bottom 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?

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