“Global Water Taxi Market, By Product Type (Yachts, Cruises, Ferries, Sail Boats), By Fuel Type (Battery Powered or Electric, Diesel, Hybrid, Others [Steam, Petrol, & Human Powered Boats]), as well as by Region – Global Forecast 2021 to 2030.”, which offers a comprehensive view of the Global Water Taxi Market through systematic segmentation that encompasses every aspect of this target market. The 5-year (2020–2025) cumulative revenue of this sector is projected to be over $354,208.4 Mn, and is estimated to increase substantially over the latter part of the forecast period.
A water taxi or water bus is a watercraft used to provide public, or private transportation, usually, but not always, in an urban environment. Service may be scheduled with multiple stops, operating in a similar manner to a bus, or on demand to many locations, operating in a similar manner to a taxi.
Increasing levels of traffic congestion being observed across various urban areas of the world as a direct result of booming populations is leading respective governing authorities to seek other avenues of available transportation as an effective alternative. This is a major factor that is slated to have a profound influence on the revenue growth of the Global Water Taxi Market over the next 10 years. Moreover, water taxis tend to be a mode of transportation that is mostly used by tourists, apart from a lower number of daily commuters, and the subsequent expansion of various travel & tourism sectors across the world is also a major factor that is anticipated to boost opportunities for increased market growth. Furthermore, the incorporation of various hybrid and electric-run water taxi as a means of lowering the overall carbon footprint. This is another major factor that is slated to have a profound influence on the projected market growth of the global water taxi industry, and is anticipated to further augment the overall market footprint of this global sector. These are some of the most crucial factors anticipated to play a critical role in catapulting projected revenues for the Global Water Taxi Market to $415,829.3 Mn by 2030, at a CAGR of 4.2%.
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