Water Passenger Transport in Australia - Industry Market Research Report

Green light: Revenue is expected to grow in the current year as COVID-19 restrictions ease

The Water Passenger Transport industry struggled with the effects of the COVID-19 pandemic over the past few years. Passenger numbers collapsed during periods of heavy government restrictions on movements, including lockdowns and state border closures, which heavily restricted demand for transport services nationwide. Water passenger transport services often rely heavily on tourists for patronage, which left the industry especially vulnerable during this period of uncertainty. Australia's international border was closed from March 2020 to February 2022 and tourist activity collapsed. These developments contributed to a sharp decline in revenue and profitability in 2019-20 and 2020-21. Overall, industry revenue is expected to fall at an annualised 3.8% over the five years through 2023-24, to $1.5 billion. Companies in the industry operate vessels that transport passengers between destinations over water. Water passenger transport activities that do not transport passengers between destinations, including sightseeing services, are excluded from the industry. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.