According to a new report published by Transparency Market Research, the water taxi market will record significant growth owing to the rising disposable income across the globe. The report titled, “Water Taxi Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026,” anticipates that the global market will grow remarkably during the forecast period.
Among the various means of transport, waterways have recently gained traction in several countries. The presence of water taxi is mostly seen in developed countries especially in Europe and North America. People traveling through water taxi experience waterfront cruises, scenic tour, historic landmarks, and many other similar sights. Developing newer interests and rising disposable incomes that led to recreational activities and increased travel to different places are some of the key factors boosting the water taxi market.
The demand for water taxi has increased as it cost-effective and reduces traffic load on roads and other means of transport such as railways and roadways. Moreover, the rising awareness for environmental safety will fuel the demand for electric ferries. However, high cost involved in operating and manufacturing water taxi may hamper the growth of this market.
Growing preference to visit historical places and enjoy sceneries along the coastline is driving the demand for water taxi, which in turn will benefit the growth of water taxi market. As travelling in water taxi is a little expensive strong economic background is an important aspect. Thus, developing economics conditions is one more factor that has contributed to the growth of this market. Moreover, increasing traveling preferences among the high-income group and growth in sea transportation are boosting the market. Lesser time to travel and lesser traffic are some of the other factors boosting the demand in the water taxi market.
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