About Water Taxi
Water taxis are utilized for commercial and passenger transportation Cruises, sailboats, yachts, and ferries, among other items offered by manufacturers and players in worldwide. These goods in the worldwide water taxi industry are available in a variety of fuel types, including diesel, hybrid, and electric or battery-powered water taxis. Rising sales in the worldwide water taxi industry are aided by a growing number of government programs supporting green transportation movements around the world. Additionally, the rise of numerous water taxi-based tourism attractions, such as waterfront cruises, nature tours, riverfront tours, and sunset cruises, is aiding the worldwide water taxi market's expansion. The growing digitalization of transportation services, such as ride-sharing applications, has permeated the water transportation landscape as well. This offers companies in the worldwide water taxi market a variety of appealing prospects for building taxi-sharing apps or allowing clients to purchase tickets or rent a water taxi via digital means.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
The vendors in this market are majorly focusing on developing better services and solutions in order to cater to the market's demands to remain competitive in the market. The recent global industry crisis due to the outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Water Taxi market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Princess Cruise Lines, Ltd. (United States), Azimut-Benetti Group (Italy), Brunswick Corporation (United States), Beneteau Group (France), Bavaria Yachtbau GmbH (Germany), Catalina Yachts (United States), Feadship (Netherlands), Damen Yachting BV (Germany) and MacGregor (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Ferretti Group (Italy), American Sail Inc. (United States) and Sunseeke (United Kingdom).
Segmentation Overview
AMA Research has segmented the market of Global Water Taxi market by Type (Yachts, Cruise, Ferries and Sail Boats), Application (Personal Use and Commercial) and Region.
On the basis of geography, the market of Water Taxi has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Fuel Type, the sub-segment i.e. Battery Powered or Electric will boost the Water Taxi market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
An increasing number of people are either renting boats or joining a boat club to enjoy their leisurely time and Developments in the Tourism Industry Are Likely To Fuel the Growth of the Water Taxi
Market Growth Drivers:
Rising travel and recreational activities owing to increasing disposable income across the globe and Increasing Production of Recreational Boats Across the globe
Challenges:
High risk of traveling in a water taxi
Restraints:
It can be used only in a limited area
Opportunities:
Due to growing worries about the green movement around the world, governments from numerous countries are also supporting water taxi and Growing Fisheries Industry across the Globe Will Create Opportunity for the Market
Market Leaders and their expansionary development strategies
In May 2021- The Candela P-12, launching the electric taxi boat with hydro-foiling, this is the world's first electric taxi boat with a long-range and great speed. The Candela P-12 is a 12-passenger water taxi that allows guests to experience the wonders of electric hydro-foiling. P-12 can cruise in nearly complete silence because of its electric pod motor, which prevents wake or sound pollution from harming marine life.
Ministerial Decision No 33/2022 stipulating regulations for water taxis. Before offering taxi services, every operator must receive a navigation license from the Maritime Authority, according to the judgment. The decision is subject to a number of criteria, including that the water taxi unit is not more than 15 years old and is not registered in another nation.
Key Target Audience
Water Taxi Service Providers, Marine Equipment and Vehicle Manufacturers, Research and Development Institutes, Government Agencies, Financial Institutes and Venture Capitalists, Ocean Tourism Industry Associations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.