1. What is the projected Compound Annual Growth Rate (CAGR) of the Water Taxi Market?
The projected CAGR is approximately 3.6%.
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Water Taxi MarketWater Taxi Market by Number of Passengers (Upto 12, Above 12), by Length (Upto 10 m, Above 10 m), by Propulsion (Diesel, Electric), by By Number of Passengers (Upto 12, Above 12), by Europe (Netherlands, Spain, U.K., Rest of Europe), by Asia Pacific (China, Japan, India, Australia, Rest of Asia Pacific) Forecast 2025-2033
Market Overview: The global water taxi market is projected to reach USD 24.8 billion by 2033, growing at a CAGR of 3.6% during the forecast period (2023-2033). The market size was valued at USD 19.9 billion in 2022. Factors such as increasing urbanization, rising disposable incomes, and the need for efficient and eco-friendly transportation solutions are driving market growth. Key trends shaping the market include the adoption of electric propulsion systems, the integration of smart technologies, and the growing popularity of water taxi services for tourism and commuting purposes.
Segmentation and Key Players: The market is segmented based on number of passengers (up to 12, above 12), length (up to 10 m, above 10 m), and propulsion (diesel, electric). The up to 12 passengers segment held the largest market share in 2022, while the electric propulsion segment is expected to witness the highest growth over the forecast period. Notable players in the water taxi market include Mercan Yachting, Moggaro Aluminium Yachts, Bord à Bord, and Izmir Shipyard. Companies are focusing on innovation and strategic partnerships to gain a competitive edge in this growing market.
The global water taxi market size was valued at USD 3.05 billion in 2022 and is projected to grow from USD 3.19 billion in 2023 to USD 4.56 billion by 2030, exhibiting a CAGR of 5.1% during the forecast period. The growing demand for water taxis in urban areas for commuting, tourism, and leisure activities is driving the market. Additionally, government initiatives to promote sustainable and eco-friendly transportation systems are further contributing to the market growth. Rapid urbanization, increasing disposable income, and rising tourism activities are other key factors fueling market expansion.
| Aspects | Details |
|---|---|
| Study Period | 2019-2033 |
| Base Year | 2024 |
| Estimated Year | 2025 |
| Forecast Period | 2025-2033 |
| Historical Period | 2019-2024 |
| Growth Rate | CAGR of 3.6% from 2019-2033 |
| Segmentation |
|
Note*: In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 3.6%.
Key companies in the market include Mercan Yachting (Turkey), Moggaro Aluminium Yachts (Spain), Bord à Bord (Spain), Izmir Shipyard (Turkey), LarsenB (Finland), Quer Barcelona (Spain), Artemis Technologies (U.K.), WATERBUS SC (Poland), ARES SHIPYARD INC. (Turkey), Estaleiros Navais de Peniche (Portugal), Navalt (U.K.), Munson Boats (U.S.), Streamline Marine Composite Developments Ltd (U.K.), Uniwork Boats (U.K.), Alumax Boats (Netherlands).
The market segments include Number of Passengers, Length, Propulsion.
The market size is estimated to be USD 19.9 USD Million as of 2022.
Growing Demand for Travel and Recreation Activities Coupled with Urbanization & Congestion Drive Market Growth.
Growing Demand for Travel and Recreation Activities Coupled with Urbanization & Congestion Drive Market Growth.
Growing Demand for Travel and Recreation Activities Coupled with Urbanization & Congestion Drive Market Growth.
March 2023 – Artemis’s EF-24 Passenger won a commercial project at the Foiling Awards. It won the award for its 24 meter passenger ferry capable of carrying 150 passengers. The company is expected to launch this ferry in Belfast in near future.
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The market size is provided in terms of value, measured in USD Million.
Yes, the market keyword associated with the report is "Water Taxi Market," which aids in identifying and referencing the specific market segment covered.
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