All hail: Rising corporate profit is expected to generate significant industry revenue

The Taxi and Limousine Services industry, which provides a range of nonregular transportation services through vehicles such as taxicabs, limousines and luxury sedans, has experienced substantial growth over the past five years. In recent years, rising consumer spending and increased corporate profit have sparked demand for taxis and limousines. Moreover, the proliferation of ride-sharing applications, such as Uber and Lyft, has enabled a wave of nonemploying operators to enter the market, bolstering industry growth. Over the next five years, consumer spending and travel activity will continue to rise, generating steady demand for industry services...purchase to read more.

Industry Statistics & Market Size
Revenue
$23bn
Annual Growth 12-17
8.6%
Forecast Growth 17-22
Profit
Employment
744,115
Businesses
686,519
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • The proliferation of ride-sharing technologies will continue to fuel the entry of new nonemploying operators
  • The introduction Uber and Lyft has enabled passengers to order a car at any time
  • The luxury sedan and limousine segments are expected to support revenue growth
  • Industry Report - Industry Investment Chapter

    The Taxi and Limousine Services Industry is relatively labor intensive, and wages account for a larger proportion of the industry's total revenue than capital expenditure. In 2017, for example, industry operators are expected to spend just $0.16 on capital investments for every $1.00 spent on labor inputs. These labor costs typically include the wages of drivers and support staff in taxi and limousine companies, as well as the wages of individual owner-operators (who generally provide their own vehicle and license). In contrast, the most substantial capital expenses in this industry are the cost of the vehicle and the necessary licenses and medallions. Whi...purchase to read more.

    Additional Insights for the Taxi & Limousine Services Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Taxi & Limousine Services Industry are

  • Flexibility in operations
  • Must comply with government regulations
  • Ability to pass on cost increases
  • IBISWorld analysts also discuss how external factors such as Percentage of services conducted online and Consumer spending in the Taxi & Limousine Services industry impact industry performance..

    shopping_cartPURCHASE OPTIONS

    What's in this report

    What is the Taxi & Limousine Services Industry?

    Companies in this industry provide passenger transportation via taxis, sedans, limousines and other automobiles. Taxi services are not operated on regular schedules or routes, and limousine services are rented or hired with a driver. This industry also includes limousine and hearse rentals for funeral services. However, specialized shuttle services that transport passengers to or from hotels and airports are not included in this industry.

    Industry Products
  • Taxi and taxi leasing services
  • Stretch limousine services
  • Luxury and corporate sedan services
  • Hearse rentals and other funeral services
  • SUV, large van and other services
  • Industry Activities
  • Providing limousine services
  • Providing luxury sedan services
  • Providing chauffer and personal driver services
  • Providing corporate sedan services
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Percentage of services conducted online
  • Consumer spending
  • Domestic trips by US residents
  • Corporate profit
  • Federal funding for transportation

  • Current Performance
  • Strong downstream demand
  • Technology-driven change
  • Fuel and wage costs
  • Chart: Revenue Growth

  • Industry Outlook
  • Increased spending
  • Changing technology
  • Profit and participation
  • Table: Taxi & Limousine Services Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Taxi & Limousine Services Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Sports Franchises
  • Racing & Individual Sports
  • Non-Hotel Casinos
  • Hotels & Motels
  • Consumers

  • Key Selling Industries
  • Auto Mechanics
  • Automobile Wholesaling
  • Car Body Shops
  • Gas Stations
  • Used Car Parts Wholesaling

  • Products & Services
  • Taxi and taxi leasing services
  • Luxury and corporate sedan services
  • Stretch limousine services
  • SUV, large van and other services
  • Hearse rentals and other funeral services
  • Chart: Taxi & Limousine Services Industry Products and Services Segmentation

  • Demand Determinants
  • Income
  • Business travel
  • Availability of substitutes

  • Major Markets
  • Individual consumers earning more than $100,000 per year
  • Corporate customers
  • Individual consumers earning between $50,000 and $100,000 per year
  • Individual consumers earning between $10,000 and $50,000 per year
  • Individual consumers earning less than $10,000 per year
  • Chart: Major Market Segmentation for the Taxi & Limousine Services Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Rent and utilities
  • Depreciation
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Taxi & Limousine Services

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Taxi & Limousine Services Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Taxi & Limousine Services Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Taxi & Limousine Services Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Percentage of services conducted online (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Table: Industry Financial Ratios
    Limo Bus
  • A larger, longer and more expensive version of a regular limousine.
  • Medallion
  • An emblem of registration for a taxicab.
  • Stretch Limousine
  • A luxury passenger vehicle with an elongated wheel base.
  • Town Car
  • A luxury corporate sedan used by operators in the limousine market.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Taxi & Limousine Services Industry Research Report contains up-to-date data and analysis, allowing you to identify the strengths and potential weaknesses of major companies in the industry. Build your credibility with clients and prospects by sharing insights into the current and emerging trends driving their industry. Our market research gives you the tools to win new business and keep existing clients.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Taxi & Limousine Services:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Taxi & Limousine Services market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Taxi & Limousine Services, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

    Contact Us

    Want to speak to a representative? Call us.

    clear