Cruise ships, excursion boats and ferries market in Norway

Earlier Report Observations

Between 2018 and 2020, the market size for cruise ships, excursion boats, and ferries in Norway fluctuated. It started at 485.6 million dollars in 2018, dropped to 353.3 million dollars in 2019, then partially recovered to 394.9 million dollars in 2020.

Import volumes rose from 50.5 million dollars in 2018 to a peak of 193.5 million dollars in 2021, before falling to 25.5 million dollars in 2023 and rising again to 83.1 million dollars in 2024. Exports showed even sharper swings, reaching 1 042.3 million dollars in 2021 but collapsing to 3.4 million dollars in 2023, with a modest rebound to 35.6 million dollars in 2024.

In 2024, regulatory developments set the stage for future market shifts. The Norwegian government introduced zero-emission requirements for cruise ships and ferries in World Heritage Fjords, effective from January 1, 2026. This policy, alongside Norway's pioneering role in electric ferries powered by renewable energy, is accelerating investment in eco-friendly technologies and shaping demand for sustainable vessels.

Production cruise ships, excursion boats and ferries in Norway

In value, 2017-2020, M $ US

In 2020, Norway's production of cruise ships, excursion boats, and ferries was valued at 585.6 million US dollars, marking a 22.2% year-over-year decline. Production decreased by 13.1% between 2018 and 2020, which translates to an annualized rate of 4.6%. The highest production value was recorded in 2019 at 752.3 million US dollars, with the largest annual increase of 11.7% also occurring that year.

Annual dynamics of production in Norway in value, 2017-2020, M $ US

Exports cruise ships, excursion boats and ferries from Norway

Exports in kind, unit

Market performance showed significant fluctuations during this period. Exports reached their lowest point in 2017 and peaked in 2019, with a 77-fold difference between these years. In 2020, Norway exported 3 811.97 units of cruise ships, excursion boats, and ferries, reflecting a sharp decline of 19.2% compared to the previous year. The maximum export volume was recorded in 2019 at 4 715.69 units, while the largest percentage increase occurred in 2018 at 4 508.1%.

Annual dynamics of product's exports from Norway in kind, 2017-2020, unit

Structure of product's exports in kind by countries, 2017-2020

Exports in value, M $ US

The market exhibited volatility over the observed period. The lowest export value occurred in 2017, while the highest was in 2019, with a peak-to-trough ratio of 45 times. In 2020, the value of cruise ships, excursion boats, and ferries exported from Norway amounted to 332.6 million US dollars, which is 39.9% lower than the previous year. The maximum value was recorded in 2019 at 553.7 million US dollars, and the largest percentage increase took place in 2018 at 1 836.4%.

Annual dynamics of product's exports from Norway in value, 2017-2020, M $ US

From 2017 to 2020, France and Germany were the dominant destinations for Norway's exports of cruise ships, excursion boats, and ferries in value terms, jointly accounting for 86.2% of total flows. The remaining volume was distributed among smaller markets.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Norway in value, 2017-2020

Imports cruise ships, excursion boats and ferries to Norway

Imports in kind, unit

Norway's imports of cruise ships, excursion boats, and ferries increased for the second consecutive year. In 2020, import volume reached 1 374.86 units, indicating a sharp gain of 35.4% from 2019. Over the period 2017-2020, imports grew by 32%, with a compound annual growth rate of 9.7%. The minimum import volume was recorded in 2018 at 1 014.38 units, and the largest decline occurred that same year at 2.6%.

Annual dynamics of product's imports to Norway in kind, 2017-2020, unit

Structure of product's imports in kind by countries, 2017-2020

Imports in value, M $ US

Market behavior was characterized by volatility during these years. Import volumes peaked in 2017 and declined to their lowest level in 2018, with a top-to-bottom ratio of 6.6 times. In 2020, the value of cruise ships, excursion boats, and ferries imported into Norway came to 142.0 million US dollars, representing a moderate decline of 8.2% year-over-year. The minimum value was recorded in 2018 at 50.5 million US dollars, with the largest decline of 84.8% also occurring that year. The largest increase was recorded in 2019 at 206.4%.

Annual dynamics of product's imports to Norway in value, 2017-2020, M $ US

Throughout 2017–2020, Turkey and Italy remained the key partner countries for Norway's imports of cruise ships, excursion boats, and ferries in value terms, with a combined share of 90.4% of total flows. Other partners accounted for the remainder.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Norway in value, 2017-2020