Water Taxi market size is valued at US$ 405.20 Bn in 2019 and expected to grow at a CAGR of XX % in the forecasting period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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The water taxi market is driven by rising travel and recreational activities owing to increasing disposable income across the globe. Water taxi offer various sightseeing opportunities such as riverfront tours, waterfront cruises, sunset cruises, and nature tours, further attracting the customers. Substantial improvement in the economic conditions has resulted in increased spending on leisure activities, further positively impacting the water taxi market share over the next few years.
The water taxi as a product facilitates faster river crossings that reduce overall travel time. Moreover, it also provides multiple benefits such as reduction in traffic congestion on roadways and quick ‘point to point’ transportation at the fixed speed. A water taxi is also used for more economical passenger transportation as compared to other modes.
These benefits will contribute significantly towards the revenue generation from water taxi market over the forecast period. The rising prominence of the green movement has resulted in a significant demand for water electric ferries. This can be attributed to various benefits offered such as reduction in human efforts, durability, and minimal noise & water pollution thus boosting the water taxi market.
Based on product, the water taxi market is segmented into yachts, cruise, ferries, and sailboats. Among this, sail boat is expected to grow at the CAGR of XX% during the forecast period. High production of sail boats essentially contributes to the high revenue generation of a water taxi. These boats are highly preferred over the counterparts for covering short distances. Cost-effectiveness as compared to other boats will further support the industry dominance of water taxi over the forecast timeframe.
Geographically, the water taxi market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America is expected to be the XX% market share of the water taxi market during the forecast period. Substantial revenue generation is attributed to the presence of established marine industry along with the rising number of industry participants such as American Sail Inc. and Brunswick across the region.
Continuous growth in marine passenger traffic in the U.S. and Canada over the past years will further strengthen the industry growth of water taxi. Increasing preference towards travel & tourism activities in the region will also support the regional dominance till 2026 for a water taxi. The market in Asia Pacific is expected to expand at a high CAGR of XX% during the forecast period.
The objective of the report is to present a comprehensive analysis of Global Water Taxi Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are 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 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 Type, Price, Financial position, Product portfolio, Growth strategies, and regional presence in the Global Water Taxi Market make the report investor’s guide.
Water Taxi Market Scope: Inquire before buying
Water Taxi Market, By Product
- Sail Boats
Water Taxi Market, By Fuel
- Battery Powered or Electric
Water Taxi Market, By Geography
- North America
- Middle East & Africa
- Latin America
Key Players operating in Water Taxi Market :
- Beneteau Group
- Bavaria Yachtbau
- American Sail Inc
- Catalina Yachts
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