Water Taxi Market Analysis Over 2021-2024 | Growth Forecast & Industry Share Report
Global water taxi market share from the sail boats segment is expected to hold volume shares of over 78% volume share by the end of 2024. These boats are used extensively for short distance commutes which is a prominent factor in their accelerated production rate. Furthermore, sail boats are highly cost effective, which is also likely to add impetus to market expansion in the sector.
As household incomes surge in the wake of the rapid enhancement of living standards, the global water taxi market trends are expected to witness a substantial boost owing to the proliferation of leisure and tourism activities across the globe.
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The rising demand for water taxis in the current scenario has given rise to significant efforts towards product innovation, thereby fueling industry growth over 2018-2024. One significant trend that has gained immense momentum among customers and industry players alike is the emergence of autonomous water taxis. These vehicles are powered solely through batteries run by solar panels and water-based energy and exhibit a range of approximately 80 to 100 kms.
Ferries, on the other hand, are expected to exhibit an appreciable growth rate at over 6% CAGR through 2024, as a result of higher affordability in terms of fare rates in comparison with other water taxi counterparts. Ferries are commonly used as a daily means of passenger transport, particularly for work commutes. Flourishing rate of production of the boats is another pivotal driver facilitating market expansion over 2024.
The diesel fuel type is expected to hold volume shares of over 58% in the global water taxi market through 2024. Diesel demonstrates significant application potential in the marine industry, which is a major factor contributing to the product’s high popularity in the sector. The robust use of diesel-powered water vessels in global waterways is also anticipated to propel water taxi market penetration even further.
The global water taxi market share from the hybrid taxi segment is projected to depict a CAGR of over 5% through 2024, owing to the rising prevalence of green energy initiatives across the globe. A considerable shift in preferences towards more eco-friendly fuel sources coupled with the product’s myriad advantages including reduction in noise and marine pollution levels, among others is estimated to assert a positive influence on market penetration in the years ahead.
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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 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. Market estimates and forecast, by region, 2013 – 2024
5.4. Hybrid
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