Industry Analysis of Water Taxi Market
Posted by Alex Werner on December 9th, 2018
Water taxi also known as water bus is use to provide public or private transport through waterways. Such taxis can be easily seen in urban areas or seashore cities. Unlike a ferry, it has multiple transit stops. Earlier water taxi was recorded in Manchester, UK.
According to Bekryl Market Analysts, Global Water Taxi Market is valued over USD 391 Million in 2018.
While the majority of the water taxis are concentrated in Europe and North America cities, it is gaining prominence in developing regions – thereby creating new market opportunity for industry fleets.
India Water Taxi Market:
Water Taxi in India will continue to grow with government support and emergence of app based players in the sector. Recently, the Ministry of Shipping and Inland Waterways Authority of India invited several tenders for ferry vessels, fairway development (dredging) and setting up of floating jetties to introduce water taxi services from Wazirabad to FatehpurJat on the 16 km stretch of Yamuna river (National Waterway-110) in the Delhi NCR region. The trend could be seen throughout the forecast period.
Several such projects are expected to be launched in coming years. This is expected to create new market opportunity for fleet operators. Some app based players have already started capitalizing the water taxi market in India. In February 2018, Ola signed MoU with the Assam state government to pilot an app-based water taxi on Brahmaputra river channel.
China Water Taxi Market:
Water taxi in China is seen as more of a tourism based opportunity to government. Government is working on several projects to woo tourism in the country. Recently, government proposed circular ferry route in Hong Kong. The proposed ferry will link Kai Tak, Hung Hom, Tsim Sha Tsui East, Central and West Kowloon. The industry is still naïve. There are very few private fleet operators. Advancement in green mobility is expected to create favorable business environment in the country.
Bekryl states that the water taxi ecosystem is consolidated in North America and Europe. Market in Asia is still evolving and could see emergence of many new players in the sector.
Some key players are:
View full report: https://bekryl.com/industry-trends/water-taxi-market-share-analysis
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About the AuthorAlex Werner
Joined: December 7th, 2017
Articles Posted: 25
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