Water Taxi Market in Sail boats to dominate around 78% volume share by 2024

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Water Taxi Market Trends, Growth Forecast, 2018
- 2024
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Key Insights from Water Taxi Market

• Increasing disposable income along with high
  standards of living has led to a substantial
  growth in recreational and travel activities,
  primarily driving the industry growth over the
  forecast timeframe.
• Rising preference towards water taxis is
  attributed to provision of numerous sightseeing
  opportunities including waterfront cruises,
  historic landmark cruises, snorkeling, and scenic
  tours. Continuously improving economic conditions
  across the globe is further strengthening the
  water taxi market penetration owing to increased
  expenditure on recreational activities.
• Sail boats are leading the product segment and
  will continue its dominance with approximately
  78 volume share over the next seven years.
  Substantial production of these boats coupled
  with their high usage for covering short
  distances will primarily drive the industry
  growth.
• Ferries will witness over 6 CAGR from 2018 to
  2024 owing to their lesser travel rates as
  compared to the counterparts. They are used for
  the passenger transportation, majorly for the
  work purposes.

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Continued...

• Electric ferries have witnessed a surging demand
  over the past years owing to rising vitality of
  green movement across the globe, further
  impacting their production significantly.
  However, capital intensive nature of these taxis
  along with high operational costs may curb the
  growth of water taxi market participants.
• Diesel is expected to dominate the water taxi
  market with over 58 volume share by 2024. Strong
  prevalence of the fuel in the marine industry
  coupled with high presence of diesel-driven taxis
  across the globe will essentially contribute to
  the revenue generation.
• Hybrid taxis will exhibit over 5 CAGR over the
  next seven years owing to provision of various
  benefits including lesser noise and water
  pollution. Strengthening penetration of green
  movement will further promote their usage,
  further propelling the industry growth.

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U.S. Water Taxi Market, By Product, 2017 2024,
(Units)

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Major Companies in Water Taxi Market

• Ferretti
• Sunseeker
• Brunswick
• Beneteau Group
• Azimut-Benetti
• Catalina Yachts
• Hunter
• Mac Gregor
• American Sail Inc., Bavaria Yachtbau, and Princess

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Industry Coverage

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Regional Insights in Water Taxi Market

• North America water taxi market share will
  dominate the overall industry, surpassing USD 287
  billion by 2024. Established marine industry
  coupled with presence of prominent manufacturers
  will primarily contribute towards the revenue
  generation. The marine transportation has
  witnessed increasing passenger traffic in the
  countries including Canada and U.S., further
  supporting the regional dominance.
• Asia Pacific market will witness growth at over
  5 from 2018 to 2024 owing to their increasing
  production of across the region. Easy
  availability of cheap labor along with shifting
  consumer preference towards usage of these taxis
  due to increasing traffic congestion on roads and
  railways will drive the regions growth.

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