Global Water Taxi Market By Product Type (Yachts, Cruise, Ferries, Sail Boats), By Fuel Type (Battery Powered or Electric, Diesel, Hybrid and Others) and By Region - Global Forecast 2030

Global Water Taxi Market Overview:

The Global Water Taxi Market was valued at UЅD $294,423.0 Мn in 2020, and is projected to achieve a valuation of UЅD $415,829.3 Мn by 2030, at a САGR of 4.2%.

Request Covid - 19 Impact

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.

The increasing implementation and expansion of water-based taxi services owing to rising levels of on-road traffic due to booming populations, in areas that can accommodate this type of transportation facility, is a primary factor that is anticipated to continue to fuel the revenue growth of the global water taxi market in the years to come.

Moreover, the growing demand for eco-friendlier means of transportation has led to the development and establishment of electric-run water taxis. This is another major factor that is slated to have a positive impact on future market growth opportunities for this global industry.

Furthermore, the steady increase in the disposable incomes of individuals across the world has boosted the ability for people to raise their respective spending levels, which in turn, has led to the gradual expansion of the travel & tourism industry among other industries, specifically over the last few years. This is another major factor that is expected to have a significant influence on the revenue growth of the global water taxi market in the foreseeable future.

However, in light of the recent COVID-19 outbreak, the operations of numerous industries have either been temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies.

The global water taxi market is no different, and this factor is anticipated to have a significantly negative impact on the revenue growth of this industry. In addition, the high initial costs of operating these vehicles as well as their fuel and maintenance costs is a significant factor that may also restrain the revenue growth of the global water taxi market in the near future.

Nevertheless, increasing investments by key industry players towards the development of taxis that are more fuel-efficient, innovative concepts such as the advent of autonomous water taxis, as well as the various collaborations between private and public entities as a means to effectively penetrate the market are some of the other major factors that are expected to have a profound impact on the revenue growth of the global water taxi market in the near future.

Segmentation of the Global Water Taxi Market is as follows:

In terms of product type, the ferries segment accounted for the maximum number of revenue shares of the global water taxi market in 2020, and this segment is expected to continue doing so over the next decade. However, the yachts segment is anticipated to index the highest CAGR over the forecast period.

On the basis of fuel type, the diesel segment accounted for the maximum number of revenue shares of the global water taxi market in 2020, and this segment is slated to continue doing so over the next 10 years. However, the electric segment is anticipated to register the highest CAGR over the forecast period.

Regional Segmentation and Analysis:

North America accounted for the maximum number of revenue shares of the global water tank market in 2020, and is indicative of retaining its respective market position over the next decade. However, the markets in the Asia Pacific region is anticipated to index the highest CAGR over the course of the forecast period.

Segmentation of the Global Water Taxi Market:

Segmentation by Product Type:

• Yachts
• Cruise
• Ferries
• Sail Boats

Segmentation by Fuel Type:

• Battery Powered or Electric
• Diesel
• Hybrid
• Others (steam, petrol, & human powered boats)

Segmentation by Regions:

• North America
• Europe
• APAC
• South America
• MEA