10 Largest Cruise Ships in The World

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In this article, we will look at the 10 largest cruise ships in the world. We have also discussed the growth of the global cruise ship market. If you want to skip our detailed analysis, head straight to the 5 Largest Cruise Ships in The World

The global cruise ship market is witnessing considerable growth, with a forecasted analysis projecting a increase from 2024 to 2032. Currently, the market is segmented into various types, including mainstream cruise ships, ocean cruise ships, luxury cruise ships, and others. This segmentation extends further to differentiate based on size (small, medium, and large) and application (transportation, leisure, and others). 

In 2022, the worldwide Cruise Ships market reached a valuation of $54,380 million and is anticipated to reach $68,490 million by 2029, registering a CAGR of 3.3% throughout the forecast period. 

Notably, North America dominates the market, housing major cruise ports like Miami and Port Canaveral. The region had 229 cruise ship calls in 2022, the highest since 2008, with an expected rise to 250 calls by 2026, indicating a promising post-COVID rebound. Europe is also set for major growth, boasting major ports such as Barcelona and Venice, while the Asia Pacific is an emerging market, with destinations like Singapore and Shanghai gaining traction.

Currently, key players such as Royal Caribbean Cruises Ltd (NYSE:RCL), Carnival Corp (NYSE:CCL), and Norwegian Cruise Line dominate the competitive landscape as they consistently focus on innovation and adaptability to overcome challenges, particularly those posed by the COVID-19 pandemic. 

Speaking of Royal Caribbean Cruises Ltd (NYSE:RCL), the company is experiencing an unprecedented increase in demand for its cruises, with a 14% increase in travelers projected for 2024 compared to the previous year. This increase has led to a major shortage of available cabins, with Royal Caribbean Cruises Ltd (NYSE:RCL) reporting only half the number of staterooms available in the first quarter of 2024 compared to the same period in 2023. This scarcity is expected to extend throughout the year, with fewer unclaimed cabins projected for all of 2024 compared to the previous year.

The company's CEO, Jason Liberty, highlighted the growing demand during the fourth-quarter earnings call, noting that Royal Caribbean Cruises Ltd (NYSE:RCL) has witnessed the five strongest booking weeks in its history over the past three months. This increase in reservations, particularly during the New Year's "wave season," also confirmed that there were challenges faced by prospective travelers hoping to secure their dream Royal Caribbean Cruises Ltd (NYSE:RCL) vacation amidst the dwindling cabin availability.