WATER TAXI MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Key Takeaways from Analyst

The global water taxi market is expected to witness strong growth over the coming years. Rapid urbanization and changing mobility patterns are expected to drive the need for water taxis as an alternative mode of transport especially in coastal cities and regions with extensive inland waterways. Growing tourism industry near rivers, lakes or coastal regions will also boost the demand for water taxis for sightseeing or to access tourist spots. However, high operating costs associated with water taxis due to fuel costs and infrastructure requirements could hinder market growth to some extent. The North America region is expected to dominate the global water taxi market during the forecast period. Presence of major urban agglomerations located near water bodies and strong economic growth is likely to propel the demand Asia Pacific  is also expected to grow at a noticeable pace owing to increasing focus on waterfront development projects and tourism industry. Europe will continue its leading position in the global market backed by well-developed inland waterways network and emphasis on waterborne modes of transport.