Water Taxi Market size was valued at US$ 428.46 Bn. in 2020 and the total revenue is expected to grow at 4 % through 2021 to 2027, Water Taxi Market is reaching nearly US$ 563.82 Bn. by 2027.
Water Taxi Market OverviewA Water Taxi or water bus, sometimes known as a sightseeing boat, is a type of watercraft that is used to carry people for public or private purposes. Water Taxi services have grown in popularity in recent years, not only in developed but also in developing countries, because to their cost-effective and fuel-efficient advantages over traditional modes of transportation. The growing number of travel and recreation activities due to rising disposable income, as well as it being a best alternate mode of transportation that offers better connectivity with roads and railways because it is congestion and pollution free, are all contributing to the growth of the Water Taxi market. Water Taxis provide tourists with a variety of sightseeing options such as riverfront tours, waterfront cruises, sunset cruises, and nature tours, all of which contribute to the market's growth. To know about the Research Methodology :- Request Free Sample Report The report has covered the market trends from 2015 to forecast the market through 2027. 2020 is considered a base year however 2020’s numbers are on real output of the companies in the market. Special attention is given to 2020 and effect of lockdown on the demand and supply, and also the impact of lockdown for next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.
Water Taxi Market Dynamics:The industry's growth is being fuelled by rising travel and recreational activities as a result of rising disposable income around the world. Customers are drawn to Water Taxis because they offer a variety of sightseeing options such as riverfront tours, waterfront cruises, sunset cruises, and wildlife tours. Increased spending on leisure activities has resulted from a significant improvement in economic conditions, which will have a beneficial impact on Water Taxi market share over the during the forecast period. The product allows for faster river crossings, which cuts down on overall journey time. It also has a number of advantages, including reduced traffic congestion on highways and quick 'point to point' transportation at a set pace. In comparison to other means of transportation, they are also employed for more cost-effective passenger transportation. Over the forecast period, these benefits will contribute significantly to the revenue generation from the Water Taxi sector. The growing popularity of the green movement has resulted in a high demand for electric boats. This can be linked to a variety of advantages such as reduced human labour, long-term durability, and low noise and water pollution. Water Taxi operators are facing stiff competition from alternatives such as highways and railways, which will stifle industry growth in the future years. Excessive capital and operating costs, as well as high fuel consumption, are creating further challenges to industry participants. Due to growing worries about green movement around the world, governments from numerous countries are also supporting Water Taxi. In large cities like New York, Water Taxi service has gone digital, just like other means of transportation. For example, in India, Ola, an app-based taxi service firm, recently announced the launch of Uber BOAT, an on-demand Water Taxi service. On the Brahmaputra River, the company began a route learning exercise and plans to develop a commercial service. The recent trend of using lightweight and high-performance composite materials for boat construction, for example, has aided Water Taxi market players in developing revolutionary taxi designs, according to 3A Composites. 3A Composites recently unveiled a sustainable Water Taxi that combines the advantages of 3A Composites foam with a unique hull design that helps with waste reduction, ride quality, and fuel efficiency. Continuous technological developments have resulted in a growing desire for Water Taxis as a mode of transportation. Autonomous Water Taxis are a newer technology that is gaining traction in the market. Water energy and solar panels at docking stations provide electrical power. On water, they cover a distance of around 80 to 100 kilometres. Another industry trend that has resulted in high customer preference for the product is the creative use of vessel tracking data from the US Coast Guard's Automatic Identification System (AIS) to assess ship dwell time. These factors are expected to have a huge impact on the Water Taxi market size until 2027.
Global Water Taxi Market Segment Analysis:The Water Taxi market is sub-segmented into Product and Fuel. Based on Product, the market is sub-segmented into Yachts, Cruise, Ferries and Sail Boats. By 2027, sail boats are expected to have an 80 % volume share of the Water Taxi market. The significant revenue creation is largely due to the increased production of sailboats. For short distance travel, these boats are preferred over their equivalents. In comparison to other boats, cost effectiveness will support the industry's dominance over the forecast period. Significant growth can be attributed to a shift in desire due to lower travel costs when compared to cruises or yachts. Unlike their counterparts that are primarily employed for recreational activities, they are primarily used for the transportation of passengers for work purposes. The industry's growth will be aided by the continued construction of these ferries. Based on Fuel, the market is sub-segmented into Battery power, Diesel and Hybrid. Over the forecast period, the Water Taxi market expected to account for the biggest volume share of more than 58 %. The substantial revenue generation will be mostly due to the large production of diesel-powered boats. Diesel is used in most Water Taxis around the world, and it has had a strong presence in the marine industry for decades, boosting the industry's supremacy. Hybrid taxis expected to grow at a rate of above 5% during the forecast period. This can be attributed to a number of advantages, including lower noise and water pollution than diesel. These benefits have led to a shift in manufacturers' preferences for these boats over diesel-powered taxis. As the green movement gains traction, hybrid boats will gain traction, boosting income generation in the Water Taxi business until 2027.
Global Water Taxi Market Regional Analysis:North America is expected to dominate the global Water Taxi market in 2020, with a market value of about USD 280 billion. The traditional marine sector, as well as a growing number of industry participants such as American Sail Inc. and Brunswick, are responsible for significant revenue generating in the region. The industry's expansion will be bolstered by continued growth in maritime passenger traffic in the United States and Canada in recent years. The region's supremacy will be strengthened by an increasing desire for travel and tourism activities until 2027. From 2020 to 2027, the Asia Pacific Water Taxi industry is expected to grow significantly, with a CAGR of more than 5%. It's due to an increase in the manufacture of these cabs around the region. Improved manufacturing facilities, as well as the availability of low-cost labour, will help to boost revenue. Another element driving the Water Taxi business in Asia Pacific is a growing desire for marine transportation as a result of increased traffic congestion on roads and trains. The objective of the report is to present a comprehensive analysis of the global Water Taxi Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the global Water Taxi Market dynamics, structure by analyzing the market segments and project the global Water Taxi Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Water Taxi Market make the report investor’s guide.
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Global Water Taxi Market Report Coverage Details Base Year: 2020 Forecast Period: 2021-2027 Historical Data: 2016 to 2020 Market Size in 2020: US $ 428.46 Bn. Forecast Period 2021 to 2027 CAGR: 4 % Market Size in 2027: US $ 563.82 Bn. Segments Covered: by Type • Yachts • Cruise • Ferries • Sail Boats by Fuel • Battery Powered or Electric • Diesel • Hybrid
Global Water Taxi Market, by Region• North America • Europe • Asia Pacific • Middle East and Africa • South America
Global Water Taxi Market Key Players• Beneteau Group • Brunswick • Azimut-Benetti • Ferretti • Sunseeker • Bavaria Yachtbau • American Sail Inc • Catalina Yachts • MacGregor • Hunter • Princess • Sea Bubbles • Sea Bird • San Pedro Water Taxi • Pirate Water Taxi • Rowes Wharf Water Transport • Water Taxi Miami • Groupe Beneteau
Frequently Asked Questions:1) What was the market size of Global Water Taxi Market in 2020? Ans - Global Global Water Taxi Market was worth US$ 428.46 Bn. 2020. 2) What is the market segment of the Water Taxi Market? Ans -The market segments are based on Type and Fuel. 3) What is the forecast period considered for Global Water Taxi Market? Ans -The forecast period for Global Water Taxi Market is 2021 to 2027. 4) What is the market size of Global Water Taxi Market markets in 2027? Ans – Global Water Taxi Market is estimated as worth US$ 563.82 Bn. 5) Which region is dominated in Global Water Taxi Market? Ans -In 2020, North America region dominated the Global Water Taxi Market.
1. Global Water Taxi Market : Research Methodology 2. Global Water Taxi Market : Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Water Taxi Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Water Taxi Market : Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-17.6 Impact 4. Global Water Taxi Market Segmentation 4.1. Global Water Taxi Market ,by Type (2020-2027) • Yachts • Cruise • Ferries • Sail Boats 4.2. Global Water Taxi Market ,by Fuel (2020-2027) • Battery Powered or Electric • Diesel • Hybrid 5. North America Water Taxi Market (2020-2027) 5.1. North America Water Taxi Market ,by Type (2020-2027) • Two-tube pontoon • Three-tube pontoon 5.2. North America Water Taxi Market ,by Fuel (2020-2027) • Battery Powered or Electric • Diesel • Hybrid 5.3. North America Water Taxi Market , by Country (2020-2027) • US • Canada • Mexico 6. European Water Taxi Market (2020-2027) 6.1. European Water Taxi Market ,by Type (2020-2027) 6.2. European Water Taxi Market , by Fuel (2020-2027) 6.3. European Water Taxi Market , by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Water Taxi Market (2020-2027) 7.1. Asia Pacific Water Taxi Market ,by Type (2020-2027) 7.2. Asia Pacific Water Taxi Market , by Fuel (2020-2027) 7.3. Asia Pacific Water Taxi Market , by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Water Taxi Market (2020-2027) 8.1. Middle East and Africa Water Taxi Market ,by Type (2020-2027) 8.2. Middle East and Africa Water Taxi Market , by Fuel (2020-2027) 8.3. Middle East and Africa Water Taxi Market , by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Water Taxi Market (2020-2027) 9.1. Latin America Water Taxi Market ,by Type (2020-2027) 9.2. Latin America Water Taxi Market , by Fuel (2020-2027) 9.3. Latin America Water Taxi Market , by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. Beneteau Group 10.1.1. Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Brunswick 10.3. Azimut-Benetti 10.4. Ferretti 10.5. Sunseeker 10.6. Bavaria Yachtbau 10.7. American Sail Inc 10.8. Catalina Yachts 10.9. MacGregor 10.10. Hunter 10.11. Princess 10.12. SeaBubbles 10.13. Sea Bird 10.14. San Pedro Water Taxi 10.15. Pirate Water Taxi 10.16. Rowes Wharf Water Transport 10.17. Water Taxi Miami 10.18. Groupe Beneteau