MarketResearch.biz has recently published its market research report titled, “Global Water Taxi Market by Product Type, by Fuel Type, and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Global Forecast from 2020 to 2029”. The report offers a deep-dive analysis of the global water taxi market. It is through systematic and exhaustive research efforts, both primary and secondary, as well as ideal segmentation that the research results have been gleaned over the study period. The report also presents the first five-year cumulative revenue (2020–2024), which is projected to be valued at more than US$ 1.5 Trillion, and this is expected to increase quite significantly over the latter part of the five-year forecast period.
A water taxi, also known as a water bus and sightseeing boat, is a watercraft used to provide public or private transport. Water taxi offer various benefits such as quick point to point transportation and considerable reduction in road and rail traffic. These also offers various sightseeing opportunities such as riverfront tours, and nature tours, which are attracting the customers.
Browse the full “Global Water Taxi Market By Product Type, By Fuel Type, And By Region (North America, Europe, Asia Pacific, Latin America, And Middle East & Africa) – Global Forecast From 2020 To 2029” report at https://marketresearch.biz/report/water-taxi-market/
Global Water Taxi Market: Dynamics
Rising travel and leisure activities, and increasing disposable income across the globe are some of the major factors expected to drive the market growth over the forecast period. Substantial improvement in the economic conditions has resulted in increased spending on leisure activities, which is further anticipated to drive growth of the water taxi market. High usage of water transport as an economical transportation mode is further expected to propel the market growth over the forecast period. Recent trend shows that manufacturers are currently focusing on introducing autonomous water taxis, which has been gaining popularity and traction among the customers and industry participants. Moreover, adoption of vessel tracking data from the automatic identification system of United States Coast Guard is another technological advancement that helps in measuring ship dwell time. However, capital intensive nature of these taxis along with high operational costs may limit growth of the global water taxi market over the 10-year forecast period.
Global Water Taxi Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global water taxi market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global water taxi market is expected to register a CAGR of 3.9% over the forecast period.
Global Water Taxi Market: Segmental Snapshot
The market report has been segmented on the basis of product type, fuel type, and region. The product type segment includes yachts, cruise, ferries, and sail boats. The fuel type segment includes battery powered or electric, diesel, hybrid, and others (steam, petrol, & human-powered boats). The regions include North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Product Type: The ferries product type segment is expected to account for highest revenue share in the global market. The yacht segment is projected to register highest CAGR of more than 4% over the forecast period.
Fuel Type: The diesel fuel type segment is expected to record the highest share in terms of revenue. The electric segment is projected to register highest compound annual growth rate of over 4.8%.
Region: North America water taxi market is expected to record the largest revenue share in the global market. The Asia Pacific market is projected to register highest compound annual growth rate of more than 4.3% over the 10-year forecast period.
Global Water Taxi Market: Competitive Analysis
The global water taxi market research report includes company profiles of major players/ companies such as Beneteau S.A, Brunswick Corporation, Azimut Benetti Group, Ferretti S.p.A., Sunseeker International Ltd, Bavaria Yachtbau GmbH, American Sail Inc., Catalina Yachts, Inc., Fincantieri S.p.A, Princess Yachts Limited, Gladding-Hearn Shipbuilding, Duclos Corporation, and Greenbay Marine Pte Ltd.
“Global Water Taxi Market: Global Industry, Size, Share, Growth, Trends, and Forecast, 2020–2029” report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global water taxi market for 2019–2029.
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