San Francisco, CA -- (SBWIRE) -- 02/24/2020 -- Global Water Taxi Market: Snapshot

A water taxi aka as a sightseeing boat serves to provide public or private transport mostly in urban areas. Water taxi service may operate on a charted route with multiple stops similar to a bus on land, or may operate in a similar manner to a taxi. It differs from a boat service that operates between two points usually known as a ferry.

Water taxi is mostly used for a boat operating on demand contrary to water boat that operates on a schedule. Water taxi service originated around the area that is present day Manchester in United Kingdom.

Water taxi mainly are useful to reach isolated islands or archipelagos that are far-off from main land and where most routine water boats do not operate.

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Water taxis are either privately owned by individuals or company owned that are leased on contract basis. Water taxi are usually available on hourly basis, but are also available for few days to few weeks for marine researchers, scientists, scuba divers, marine explorers who need to travel into the deep sea for studies and exploration of marine life. Commercial water boat and ferry are usually not available for such needs hence water taxi is the option.

Water taxi service akin to other modes of transport has gone digital in recent years. Water taxi service in large cities such as in New York can be booked digitally. Most individual owned or company owned water taxi have presence on the World Wide Web via aggregator entertainment sites, recreational sites, or water sport sites.

In the recent past, Ola – the app-based taxi service rolled out commercial water taxi service on the Brahmaputra River.

Global Water Taxi Market: Overview

Water Taxis offer sightseeing opportunities such as waterfront cruises, nature tours, riverfront tours, sunset cruises and this in turn is attracting customers increasingly. The growing number of travel and recreation activities of people today thanks to the rise in the disposable income is one of the key factors boosting the growth of the water taxi market. Water taxis facilitate faster crossing the river and also reduces the overall travel time which in turn is behind their increased adoption. More over water taxis offer multiple benefits such as reduction of traffic congestion on roadways as well as faster point-to-point transportation at a fixed speed.

Global Water Taxi Market: Drivers and Trends

A substantial Improvement of the economic conditions across regions in the world as well as growing spending on leisure activities are some of the factors influencing this Market in a positive manner. Water taxis are also in demand as they are more economic as compared to other modes. The growing prominence of green movement is resulted in a significant demand for electric fairies and this is a trend which is expected to continue in the future years. Electric fairies offer where other benefits such as durability reduction is and human efforts, reduce noise pollution, and reduce water pollution. Advancements in technologies as well as a growing preference for transportation through water taxis are some of the factors that are expected to bode well for the growth of this industry.

In terms of product, the sailboats are anticipated to witness a higher demand. The fairies segment on the other hand is expected to expand the rapid Pace in the years to come on account of the growing preference for people to travel on work through fairies rather than yachts or cruises. In terms of fuel, diesel is leading and is expected to continue to do so in the future on account of the strong presence of this fuel type in the marine industry. Moreover, the presence of diesel driven water taxis is extremely high all across the globe. Hybrid taxis are also expected to show promising growth opportunities in the future. The growing inclination towards green movement will inspire high use of hybrid water taxis in the coming years.

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Global Water Taxi Market: Regional Analysis

In terms of geography, Asia-Pacific water taxi market will expand at a substantial rate on account of the growing production of these taxis in these region. Cheap labour and enhance manufacturing facilities available in the Asia-Pacific are some of the other factors bolstering the growth of the water taxi market in the region. In addition to this, the growing preference for marine transport on account of escalating traffic congestion on roadways and railways are some of the other factors driving the public towards water taxi in Asia-Pacific. However it is North America which is leading in the market currently, and it is expected to retain its leading status throughout the forecast period. The region has a well-established marine industry as well as is home to several leading manufacturers of water taxis. Moreover, marine transportation in the region is witnessing high demand in countries such as Canada and the U.S.

Global Water Taxi Market: Key Players

Beneteau Group, Bavaria Yachtbau, Princess, Azimut-Benetti, Brunswick, Catalina Yachts, MacGregor, Ferretti, American Sail Inc, Hunter, and Sunseeker are some of the prominent players within the global water taxi market. The report also studies the recent developments by these players and the various tactics used by them for overcoming challenges faced during their pursuit for success in the competitive water taxi industry.

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