Press release
Water Taxi Market Trend, Revenue & Regional Analysis 2018-2024 By Top Companies - Beneteau, Brunswick Boat, Azimut-Benetti, Ferretti Group, Princess Cruises
Water Taxi Market
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North America water taxi market share will dominate the overall industry, surpassing USD 287 billion by 2024. Established marine industry coupled with presence of prominent manufacturers will primarily contribute towards the revenue generation. The marine transportation has witnessed increasing passenger traffic in the countries including Canada and U.S., further supporting the regional dominance. Asia Pacific market will witness growth at over 5% from 2018 to 2024 owing to their increasing production of across the region. Easy availability of cheap labor along with shifting consumer preference towards usage of these taxis due to increasing traffic congestion on roads and railways will drive the region’s growth.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. Brunswick
2. Beneteau Group
3. Ferretti
4. Azimut-Benetti
5. Sunseeker
6. Bavaria Yachtbau
7. Princess
8. American Sail Inc
9. Catalina Yachts
10. MacGregor
11. Hobie Cat Corporation
12. Hunter
13. Mahindra & Mahindra Ltd.
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Water Taxi Market By Product
• Yachts
• Cruise
• Ferries
• Sail boats
Water Taxi Market By Fuel
• Battery powered or electric
• Diesel
• Hybrid
• Others
Diesel is expected to dominate the water taxi market with over 58% volume share by 2024. Strong prevalence of the fuel in the marine industry coupled with high presence of diesel-driven taxis across the globe will essentially contribute to the revenue generation. Hybrid taxis will exhibit over 5% CAGR over the next seven years owing to provision of various benefits including lesser noise and water pollution. Strengthening penetration of green movement will further promote their usage, further propelling the industry growth.
Increased preference towards the product has led to regular innovations which in turn will drive the market size from 2018 to 2024. Advent of autonomous water taxis is a trend which has gained traction among the customers and industry participants. They are totally battery-powered by solar panels and water energy and range from about 80 to 100 kilometers. Adoption of vessel tracking data from the automatic identification system of U.S. Coast Guard is another technological advancement that assists in measuring ship dwell time. These emerging trends are expected to offer stable growth prospects to the market over the forecast timeframe.
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Ferretti, Sunseeker, Brunswick, Beneteau Group, and Azimut-Benetti are among the prominent water taxi industry vendors. Other noticeable players include Catalina Yachts, Hunter, Mac Gregor, American Sail Inc., Bavaria Yachtbau, and Princess. The industry participants are continuously focusing towards continuous advancements to gain competitive edge. They are increasingly adopting emerging technologies such as autonomous water taxis and marine hybrid propulsion to enhance their visibility in the industry.
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Global Market Insights, Inc.
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