Global Water Taxi Market By Type (Product Type, Fuel Type), By Application (Steam, Petrol, Human Powered Boats), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2019-2029

Market.us announces publication of its most recently generated research report titled, “Global Water Taxi Market by Product Type (Yachts, Cruise, Ferries and Sail Boats), by Fuel Type (Electrical, Diesel, Hybrid, and Others (Steam, Petrol, & Human Powered Boats)), by Region – Global Forecast to 2029.”, which offers a holistic view of the Global Water Taxi Market through systematic segmentation that covers every aspect of the target market.

The Global Water Taxi Market is projected to be US$ 284,157.8 Mn in 2019 to reach US$ 415,829.3 Mn by 2029 at a CAGR of 3.9%.

Among various transportation system, recently water transport has gained traction in several countries. The water taxi also is known as a sightseeing boat; is a watercraft which is used to provide private or public transport. The water taxi has played a significant role in promoting tourism, particularly in cities like Amsterdam, Venice, Kerala, Goa, Seattle where waterways form a substantial section of the transportation system. Moreover, water taxi mostly presents in mature regions like Europe and North America. Water taxi service can be a potential element of the region's transportation system that provides both social or leisure trips and one that enables travelers to reach destinations along coastal waterways and rivers. Water taxis facilitates faster river crossings that decrease overall travel time. Furthermore, it also offers multiple assistances such as a decrease in traffic crowding on roadways and quick ‘point to point’ conveyance at a fixed speed. It is even more economical passenger transportation as compared to other modes.

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Water taxis offer numerous sightseeing opportunities such as sunset cruises, riverfront tours, waterfront cruises, and nature tours, further attracting the customers, which is the primary factor influencing the growth of water taxi market. Government initiative to support water ferries and marine transit is owing to reduce road traffic load is expected to raise demand for water taxi market. Recently, Indian Ministry of Shipping and Inland Waterways Authority requested numerous tenders for ferry vessels, fairway development and setting up of floating jetties to present water taxi facilities from Wazirabad to Fatehpur on the 16 km section of Yamuna river in the Delhi NCR region. This trend could be seen during the forecast period and expected to create new opportunities in the coming years.

Global Water Taxi Market Revenue (US$ Mn), 2019–2029

Rising penetration of eco-friendly and cost-effective mean of transport has resulted in significant demand for electric ferries which can be attributed to various benefits offered such as the reduction in traffic, durability, reduction of human efforts, and minimal noise & water pollution. This has created space for water taxi market.

However, high initial capital requirement & operational costs along with high fuel consumption of water taxis could hinder the growth of water taxi market. Also, different sector participants are witnessing intense competition from substitutes such as roadways and railways are further posing a challenge for water taxi market. Nonetheless, collaboration between private and public entities to effectively tap into market demand and meet the travel needs of residents, tourists, and workers. This is expected to create new opportunities in the future, particularly in a developed nation.

Global Water Taxi Market is segmented based on Product Type, Fuel Type, and Region. Based on product type, the market is segmented into Yachts, Cruise, Ferries, and Sail Boats. The Ferries segment accounts for the majority share and is expected to register highest growth over forecast period. Based on Fuel Type, the market is segmented into Electric, Diesel, Hybrid, Other. The Diesel segment accounts for a majority share in the Global Water Taxi Market.

Global Water Taxi Market Attractiveness Index by Product Type, 2019

Based on region, the market is segmented into North America, Europe, APAC, Latin America and Middle East Africa. North America accounts for the majority share in the Global Water Taxi Market. APAC is expected to register highest growth rate over forecast period.

The research report on the Global Water Taxi Market includes profiles of some of the major companies such as Beneteau S.A., Brunswick Corporation, Azimut Benetti Group, Ferretti S.p.A., Sunseeker International Ltd., Bavaria Yachtbau GmbH, American Sail Inc., Fincantieri S.p.A., Princess Yachts Limited, Greenbay Marine Pte Ltd. and Catalina Yachts, Inc.

Key Market Segments

Type

• Product Type
• Fuel Type

Application

• Steam
• Petrol
• Human Powered Boats

Key Market Players included in the report:

• Beneteau S.A.
• Brunswick Corporation
• Azimut Benetti Group
• Ferretti S.p.A.
• Sunseeker International Ltd.
• Bavaria Yachtbau GmbH
• American Sail Inc.
• Fincantieri S.p.A.
• Princess Yachts Limited
• Greenbay Marine Pte Ltd. and Catalina Yachts

For the Water Taxi Market research study, the following years have been considered to estimate the market size: