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

Ocean View, DE -- (SBWire) -- 05/19/2020 --Water taxi market from sail boats dominated the overall industry share in 2017 and is expected to continue its dominance with more than 78% volume share by 2024. These boats have witnessed high production across the globe owing to their increasing adoption for short distance travel. Cost effective manufacturing as compared to the counterparts will further support the industry dominance. Ferries will exhibit growth at over 6% over the next seven years owing to their increasing production and lesser travel rates than others. Moreover, they are highly used for transportation of passengers, majorly for daily work purposes.

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. 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.

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Recreational activities such as boating have taken on a diverse significance in recent times, on account of which numerous private companies are deploying water buses on large scale. This in consequence, has prompted the entry of new contenders in water taxi market and a slew of unique product launches. Say for example, the French startup SEABUBBLES has been testing its new electric hydrofoil water taxi – a battery powered water bus that reduces air drag and attains greater speed, in Switzerland for quite a while now. The company now looks forward to deploying electric boats for transportation in lakes and rivers across European countries.

The Asian zone is expected to contribute commendably toward the growth of water taxi market, owing to the increasing involvement of private and public sectors in the deployment of water taxi services. For the record, merely a few months earlier, the Indian ride-hailing service provider OLA signed a MoU with the government of Assam to launch a water taxi service in the state. This project is most likely to strengthen the transportation network across North India. In addition, the mobile-based transportation system will help local government enhance the state's tourism prospects.
In 2016, the government of India signed a deal with the Mas
sachusetts Institute of Technology for developing ferry services across six major cities including Varanasi, Allahabad, Kolkata, Mumbai, Patna, and Haldia. The development of inland waterways services will thus help escalate cost-effective trading across the country. As of now, India uses only 3.5% of the available waterways for trading purposes, out of the existing 14,500 km of the waterway stretch. The increasing investments by the Indian government toward the deployment of ferry services across the country is poised to boost the regional water taxi market share, in turn benefiting the overall Asian topography to a marginal extent.

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Asia Pacific water taxi market will exhibit more than 5% CAGR from 2018 to 2024 owing to continuously increasing production coupled with easy availability of cheap labor across the region. Rising traffic congestion on road and rail transportation modes has resulted in shifting preference towards marine transportation, further propelling the region's growth.

Some Point from Table of Contents:

Chapter 4. Water Taxi Market, By Product
4.1. Global water taxi industry share by product, 2017 & 2024
4.2. Ferries
4.2.1. Global market estimates and forecasts, 2013 – 2024
4.2.2. Market estimates and forecast, by region, 2013 – 2024
4.3. Cruise
4.3.1. Global market estimates and forecasts, 2013 – 2024
4.3.2. Market estimates and forecast, by region, 2013 – 2024
4.4. Yachts
4.4.1. Global market estimates and forecasts, 2013 – 2024
4.4.2. Market estimates and forecast, by region, 2013 – 2024
4.5. Sail boats
4.5.1. Global market estimates and forecasts, 2013 – 2024
4.5.2. Market estimates and forecast, by region, 2013 – 2024
Chapter 5. Water Taxi Market, By Fuel
5.1. Global water taxi industry share by fuel, 2017 & 2024
5.2. Electric
5.2.1. Global market estimates and forecasts, 2013 – 2024
5.2.2. Market estimates and forecast, by region, 2013 – 2024
5.3. Diesel
5.3.1. Global market estimates and forecasts, 2013 – 2024
5.3.2. Market estimates and forecast, by region, 2013 – 2024
5.4. Hybrid
5.4.1. Global market estimates and forecasts, 2013 – 2024
5.4.2. Market estimates and forecast, by region, 2013 – 2024
5.5. Others (Gas, Natural gas)
5.5.1. Global market estimates and forecasts, 2013 – 2024
5.5.2. Market estimates and forecast, by region, 2013 – 2024

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