Insights on the Taxi and Limousine Services Global Market to 2030 - Identify Growth Segments for Investment

Dublin, March 01, 2021 (GLOBE NEWSWIRE) -- The "Taxi and Limousine Services Global Market Report 2021: COVID-19 Impact and Recovery to 2030" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the global taxi and limousine services market as it emerges from the COVID-19 shut down.

The global taxi and limousine services market is expected to grow from $66.26 billion in 2020 to $78.92 billion in 2021 at a compound annual growth rate (CAGR) of 19.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $102.66 billion in 2025 at a CAGR of 7%.

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Description:

Where is the largest and fastest growing market for the taxi and limousine services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Taxi and Limousine Services market global report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider taxi and limousine services market, and compares it with other markets.

• The market characteristics section of the report defines and explains the market.

• The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.

• Market segmentations break down market into sub markets.

• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.

• Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.

• The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

• The taxi and limousine services market section of the report gives context. It compares the taxi and limousine services market with other segments of the transit and ground passenger transportation market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, taxi and limousine services indicators comparison.

The taxi and limousine services market consist of sales of taxi and limousine services and related goods by entities (organizations, sole traders and partnerships) that provide passenger transportation via automobiles or vans, or provide an array of specialty and luxury passenger transportation services via limousine or luxury sedan, generally on a reserved basis. Taxi and limousine services establishments usually provide services on demand. These establishments do not operate over regular routes and on regular schedules. The taxi and limousine services market is segmented into online taxi services; tele and offline taxi services and limousine services.

Western Europe was the largest region in the global taxi and limousine services market, accounting for 40% of the market in 2020. Asia Pacific was the second largest region accounting for 33% of the global taxi and limousine services market. Africa was the smallest region in the global taxi and limousine services market.

Taxi and limousine service providing companies are offering shared transportation services to cater to an increasing demand of customers. Shared transportation system is an innovative transportation strategy that enables users to gain short term access to transportation modes as needed. It includes various forms of transportation, such as car-sharing, bike sharing, carpooling and platform-based ride services. Shared transportation systems are growing in the transit and ground passenger transportation industry owing to cost benefits this system offers to customers. For example, Uber, an American on-demand cab transportation service provider with an international presence, is offering a shared ride service known as UberPOOL. Ride sharing companies such as BlaBlaCar and Drivezy also facilitate users to book a seat in vehicles according to their choice by a mere payment of a membership fee or fare.

Expected increase of government investments in public transport infrastructure, especially in emerging markets, will be a major restraint on the taxi and limousine services market going forward. In 2018, in India, for instance, 10 cities had functional metro rail networks stretching for more than 515 kilometers. It is expected that the overall national metro rail network will increase by 664 kilometers taking into account the metro construction activities in 15 Indian cities. By 2024, the railways, roads and highways sector in India is expected receive INR 30 trillion ($0.42 trillion) to improve the country's public transport infrastructure. Increasing investments in the public transport infrastructure sector are expected to slow down the growth of the taxi and limousine services market in emerging economies.

The shift in consumer preferences towards traveling in taxis rather than investing in buying a personal car is expected to be a key driver of the taxi and limousine services market. Rising prices of vehicles and fuel, high traffic situations, limited availability of parking spaces, and low costs of taxi ridership compel people, especially millennials, to opt for ride-hailing services. Ride-hailing companies are offering rides at low prices globally. For instance, in the USA, Uber charges a base fare of about $3 and about $2 per mile. In India Uber offers rides at as low as INR 7/km and Ola offers rides at INR 8/km. This makes a daily taxi ride much cheaper than a car bought on loan. This change in consumer preferences will drive the demand for taxi services going forward.

Key Topics Covered:

1. Executive Summary

2. Report Structure

3. Taxi and Limousine Services Market Characteristics
3.1. Market Definition
3.2. Key Segmentations

4. Taxi and Limousine Services Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products

5. Taxi and Limousine Services Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers

6. Taxi and Limousine Services Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth

7. Taxi and Limousine Services Market Trends and Strategies

8. Impact of COVID-19 on Taxi and Limousine Services

9. Taxi and Limousine Services Market Size and Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.2.1. Drivers of the Market
9.2.2. Restraints on the Market
9.3. Forecast Market Growth, Value ($ Billion)
9.3.1. Drivers of the Market
9.3.2. Restraints on the Market

10. Taxi and Limousine Services Market Regional Analysis
10.1. Global Taxi and Limousine Services Market, 2020, by Region, Value ($ Billion)
10.2. Global Taxi and Limousine Services Market, 2015-2020, 2020-2025F, 2030F, Historic and Forecast, by Region
10.3. Global Taxi and Limousine Services Market, Growth and Market Share Comparison, by Region

11. Taxi and Limousine Services Market Segmentation
11.1. Global Taxi and Limousine Services Market, Segmentation by Type,
11.2. Global Taxi and Limousine Services Market, Segmentation by Application

12. Taxi and Limousine Services Market Metrics
12.1. Taxi and Limousine Services Market Size, Percentage of GDP, 2015-2025, Global
12.2. Per Capita Average Taxi and Limousine Services Market Expenditure, 2015-2025, Global

13. Asia-Pacific Taxi and Limousine Services Market

14. Western Europe Taxi and Limousine Services Market

15. Eastern Europe Taxi and Limousine Services Market

16. North America Taxi and Limousine Services Market

17. South America Taxi and Limousine Services Market

18. Middle East Taxi and Limousine Services Market

19. Africa Taxi and Limousine Services Market

20. Taxi and Limousine Services Market Competitive Landscape
20.1. Competitive Market Overview
20.2. Market Shares
20.3. Company Profiles
20.3.1. Uber
20.3.1.1. Company Overview
20.3.1.2. Products and Services
20.3.1.3. Strategy
20.3.1.4. Financial Performance
20.3.2. Lyft
20.3.2.1. Company Overview
20.3.2.2. Products and Services
20.3.2.3. Strategy
20.3.2.4. Financial Performance
20.3.3. Yellow Cab
20.3.3.1. Company Overview
20.3.3.2. Products and Services
20.3.3.3. Strategy
20.3.3.4. Financial Performance
20.3.4. Limo City
20.3.4.1. Company Overview
20.3.4.2. Products and Services
20.3.4.3. Strategy
20.3.4.4. Financial Performance
20.3.5. Eti Taxi Service
20.3.5.1. Company Overview
20.3.5.2. Products and Services
20.3.5.3. Strategy
20.3.5.4. Financial Performance

21. Key Mergers and Acquisitions in the Taxi and Limousine Services Market

22. Market Background: Transit and Ground Passenger Transportation Market
22.1. Transit and Ground Passenger Transportation Market Characteristics
22.2. Transit and Ground Passenger Transportation Market Historic and Forecast, 2015-2020, 2020-2025F, 2030F Growth, by Segment, Value ($ Billion), Global
22.3. Global Transit and Ground Passenger Transportation Market, 2020, by Region, Value ($ Billion)
22.4. Global Transit and Ground Passenger Transportation Market, 2015-2020, 2020-2025F, 2030F, Historic and Forecast, by Region
22.5. Global Transit and Ground Passenger Transportation Market, 2015-2020, 2020-2025F, 2030F, Segmentation by Type, Value ($ Billion)

23. Recommendations
23.1. Global Taxi and Limousine Services Market in 2025 - Growth Countries
23.2. Global Taxi and Limousine Services Market in 2025 - Growth Segments
23.3. Global Taxi and Limousine Services Market in 2025 - Growth Strategies

24. Appendix
24.1. NAICS Definitions of Industry Covered in this Report
24.2. Abbreviations
24.3. Currencies
24.4. Research Inquiries
24.5. About the Publisher

25. Copyright and Disclaimer

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