Water Taxi Market to Gain Massive Proceeds By 2024
North America Water taxi market size is expected to be valued $287 billion by 2024. North America has been touted to emerge as one of the most remunerative grounds for water taxi industry, primarily owing to the presence of a robust marine industry and leading companies that have their base in the region. With enthusiastic players striving to make marine transportation attractive to a wider commuter pool and the increasing inclination toward luxury outdoor recreation activities, the continent is expected to register substantial growth in the ensuing years.
The rise in the interest for adopting ecofriendly means of transportation has been a pivotal driving force for water taxi market. Water taxis have played a major role in promoting tourism and are specifically used as vital means of transportation in cities like Venice and Amsterdam, where waterways form a significant section of the transit system.
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Close to half a decade earlier, a study had been conducted by several counties along the Potomac River in Maryland, U.S.. The findings revealed that the area’s notable population and the employment of a significant number of people in places located along the river will be able to encourage people’s foray from cars onto boats, which would massively propel the regional water taxi market share
The rising penetration of the green movement has lately spurred manufacturers to shift their focus toward building more hybrid boats. As such, these boats cause a substantial improvement in the levels of noise and water pollution as compared to diesel water taxis and are expected to be widely in demand in the future. On these grounds, hybrid-based water taxi market is anticipated to register a 5% CAGR over 2018-2024.
Water taxis have been paving their way across Europe, especially in cities such as Paris where hydrofoil taxis have become an added attraction for tourists. Called Seabubbles, these taxis are being designed to run on electric power on the river Seine. Reportedly, if the Seabubbles are a success in Paris then a similar types of hydrofoil taxis may commence operations on the Thames in London. The use of hydrofoil technology will mean that the boats will be lifted off the surface of water, decreasing the drag factor and resulting in a smoother ride
Increasing concerns for the environment and the subsequent interest to find less congested transport routes will be the pivotal driving forces for water taxi market over 2017-2024. Powered by a slew of initiatives undertaken by authoritative bodies to bring forth some effective changes in the transportation system and reign in the cumulative problems green house gases in the air are causing, water taxi industry size is expected to be valued over $500 billion by 2024.
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Partial Chapter of the Table of Content
Chapter 4. Water Taxi Market, By Product
4.1. Global market share by product, 2017 & 2024
4.2. Ferries
4.2.1. Global market estimates and forecasts, 2013 – 2024
4.2.2. Market estimates and forecast, by region, 2013 – 2024
4.3. Cruise
4.3.1. Global market estimates and forecasts, 2013 – 2024
4.3.2. Market estimates and forecast, by region, 2013 – 2024
4.4. Yachts
4.4.1. Global water taxi market estimates and forecasts, 2013 – 2024
4.4.2. Market estimates and forecast, by region, 2013 – 2024
4.5. Sail boats
4.5.1. Global market estimates and forecasts, 2013 – 2024
4.5.2. Market estimates and forecast, by region, 2013 – 2024
Chapter 5. Water Taxi Market, By Fuel
5.1. Global market share by fuel, 2017 & 2024
5.2. Electric
5.2.1. Global market estimates and forecasts, 2013 – 2024
5.2.2. Market estimates and forecast, by region, 2013 – 2024
5.3. Diesel
5.3.1. Global market estimates and forecasts, 2013 – 2024
5.3.2. Water taxi market estimates and forecast, by region, 2013 – 2024
5.4. Hybrid
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