Water taxi market in Hybrid taxis segment to witness 5% CAGR over 2018-2024

Water taxi market from hybrid taxis is likely to grow significantly, witnessing over 5% CAGR from 2018 to 2024. Provision of the advantages such as lesser marine and noise pollution will essentially drive the industry growth. Rising promotion of green movement has further resulted in shifting preference towards these taxis, propelling the segment’s growth till 2024.

Diesel is anticipated to capture maximum volume share of more than 58% over the forecast timeframe. The fuel is pre-dominantly used in marine industry over the past decades. This strong prevalence is major factor contributing towards the revenue generation. The high presence of diesel-driven boats in waterways across the globe will further strengthen the industry penetration

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The recent trend of deploying lightweight and high-performance composite materials for boat manufacturing, for instance, has helped water taxi market firms develop innovative taxi designs. 3A Composites for example, post ten years of rigorous efforts, recently launched a sustainable water taxi that integrates the benefits provided by 3A Composites’ AIREX® T92 PET foam with a special hull shape that aids waste reduction, ride quality, and fuel efficiency.

The increasing requirement for quick, emission-free transport has been a major driver for water taxi market growth. Water transportation has been gaining more and more popularity lately, pertaining to its cost-effective and fuel-efficient benefits over conventional transportation. Having recognized the same, regional governments have been majorly investing in the tourism industry, generating lucrative opportunities for water taxi market players.

North America is expected to showcase dominance in the water taxi market, accounting for more than USD 287 million by the end of 2024. Presence of key industry participants such as Brunswick coupled with established marine industry across the region will primarily support the regional dominance. Rising marine passenger traffic in Canada and U.S. will further drive the industry growth.

The competitive hierarchy of water taxi market is remnant of novel product development strategies and massive R&D programs. The emergence of battery operated lightweight boats for instance, has added a new growth dimension to water taxi market. Beneteau Group, Azimutt-Benetti, Sunseeker, Ferretti, and Brunswick are among the established participants in the water taxi market. Other prominent competitors include Hunter, MacGregor, Princess, American Sail Inc., Catalina Yachts, and Bavaria Yachtbau. The competitors are constantly focusing on adopting emerging technologies including marine hybrid propulsion and autonomous taxis to ensure regulatory compliance and minimal pollution.

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Major Table of Content: –

Chapter 1. Methodology and Scope

1.1. Methodology

1.1.1.  Initial data exploration

1.1.2.  Statistical model and forecast

1.1.3.  Industry insights and validation

1.1.4.  Scope, definition and forecast parameters

1.2. Data Sources

1.2.1.  Secondary

1.2.2.  Primary

Chapter 2.  Executive Summary

2.1. Water taxi industry 3600 synopsis, 2013 – 2024

2.1.1.  Business trends

2.1.2.  Product trends

2.1.3.  Fuel trends

2.1.4.  Regional trends

Chapter 3.  Water Taxi Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2013 – 2024

3.3. Industry ecosystem analysis

3.3.1.  Raw material supplier

3.3.2.  Manufacturers

3.3.3.  Distribution channel analysis

3.3.3.1.    OEM

3.3.3.2.    Resale

3.3.4.  Vendor matrix

3.4. Technology landscape

3.4.1.  Shore side power supply

3.4.2.  Solar and wind energy

3.4.3.  Energy efficiency measures

3.4.4.  Ballast water treatment systems

3.5. Alternatives to conventional fuels

3.5.1.  Biodiesel

3.5.2.  LNG

3.5.3.  Nuclear

3.5.4.  Fuel cells

3.5.5.  Renewable energy sources (solar, wind)

3.5.6.  Hydrogen

3.5.7.  Anhydrous ammonia

3.5.8.  Compressed air and liquid nitrogen

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