Global Taxi And Limousine Services Market Report 2022 – Market Forecast, Trends And Strategies

22 Jun, 2022

The global taxi and limousine services market size is expected to grow from $95.5 billion in 2021 to $104.87 billion in 2022 at a compound annual growth rate (CAGR) of 9.8%. The taxi and limousine services market is then expected to grow to $147.26 billion in 2026 at a CAGR of 8.9%.

What is the Global Taxi And Limousine Services Market?

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.

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What drives the Global Taxi And Limousine Services Market?

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.

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Global Taxi And Limousine Services Market Segments
The global taxi and limousine services market is segmented:
By Type: Online Taxi Services, Tele and Offline Taxi Services, Limousine Services
By Distance: Long-Distance, Short-Distance
By Application: Adults, Children
By Geography: The regions covered in the taxi and limousine services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Taxi And Limousine Services Global Market Report 2022provides market size and growth forecasts for the global taxi and limousine services market, global taxi and limousine services market share, taxi and limousine services market segments and geographies, taxi and limousine services market competitive landscape including leading competitors’ revenues, profiles and market shares. The taxi and limousine services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Taxi And Limousine Services Industry Playersinclude Uber, Daimler AG, Lyft, MOL Hungarian Oil and Gas plc, ComfortDelGro Corporation, and A2B Australia Ltd. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.

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