Water Taxi Market Dynamics Key Vendors Beneteau, Brunswick Boat Group, Ferretti Group, Princess Cruises, MacGregor, Volvo Penta, Wärtsilä, Caterpillar Inc, MAN Diesel & Turbo

Water Taxi Market for Sail boats are leading the product segment and will continue its dominance with approximately 78% volume share over the next seven years. Substantial production of these boats coupled with their high usage for covering short distances will primarily drive the industry growth. Cost effective nature of the product will further support the segment’s dominance. Ferries will witness over 6% CAGR from 2018 to 2024 owing to their lesser travel rates as compared to the counterparts. They are used for the passenger transportation, majorly for the work purposes. Their proliferating production is another factor positively influencing the industry growth till 2024.

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Water Taxi Market size is estimated to surpass USD 500 billion by 2024; according to a new research report by Global Market Insights, Inc.

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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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.

Increasing disposable income along with high standards of living has led to a substantial growth in recreational and travel activities, primarily driving the industry growth over the forecast timeframe. Rising preference towards water taxis is attributed to provision of numerous sightseeing opportunities including waterfront cruises, historic landmark cruises, snorkeling, and scenic tours. Continuously improving economic conditions across the globe is further strengthening the water taxi market penetration owing to increased expenditure on recreational activities.

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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.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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