Hail a taxi: Demand for industry services will persist, but volatile fuel costs may threaten progress
IBISWorld’s Taxi & Limousine Services market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.
Industry Statistics & Market Size
Industry Threats & Opportunities
- The industry’s gradual improvement is expected to continue over the next five years
- Improved corporate performance has encouraged spending on taxis and corporate sedans
- The luxury sedan and limousine segments of the industry are expected to lead growth ... purchase to read more
Industry Analysis & Industry Trends
The Taxi and Limousine Services industry has coasted on clear roads during the past five years. The economy's return to health has directly benefited the industry as business expense accounts have grown and consumers have been more willing to spend on small luxuries such as taxi and limousine rides. Moreover, increased demand from corporate travelers, tourists and private households is expected to result in the continued recovery of the industry over the next five years. However, the volatile nature of fuel prices remain a threat to the industry... ... purchase to read more
Industry Report - Starting a New Business Chapter
Barriers to entry for companies offering taxi and limousine services can vary significantly across cities and states. Moderate to high start-up costs act as one of the primary barriers to entry in the industry. These expenses typically include satisfying regulatory requirements and the cost of purchasing a taxi license (medallions), which can range from several thousand dollars in some cities to over $1.0 million for a corporate medallion in New York City. Initial costs also include purchasing a suitable vehicle, which varies based on the brand and quality of service that a particular operator hopes to provide. If,.. ... purchase to read more
Additional Insights for the
Taxi & Limousine Services
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 Consumer spending and Domestic trips by US residents in the Taxi & Limousine Services industry impact industry performance... purchase to read more
What is the
Taxi & Limousine Services
Companies in this industry provide passenger transportation via taxis, sedans, limousines and other automobilies. 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.
Taxi and taxi leasing servicesStretch limousine servicesLuxury and corporate sedan servicesHearse rentals and other funeral servicesSUV, large van and other services
Providing limousine servicesProviding luxury sedan servicesProviding chauffer and personal driver servicesProviding corporate sedan services
|About this Industry|
|Industry at a Glance|
|Industry Statistics Snapshot|
|Key External Drivers|
|Consumer spendingDomestic trips by US residentsCorporate profitFederal funding for transportationWorld price of crude oil|
|Rising demandTechnology-driven competitionOil dependenceDeclining average wageChart: Revenue Growth|
|Increased spendingHigher fuel costsChanging technologyRestricted growthTable: Taxi & Limousine Services Industry Revenue Outlook|
|Industry Life Cycle|
|Life cycle reasonsChart: Benchmarking - Taxi & Limousine Services Industry Lifecycle vs The Economy|
|Products & Markets|
|Key Buying Industries|
|Sports FranchisesRacing & Individual SportsNon-Hotel CasinosHotels & MotelsConsumers|
|Key Selling Industries|
|Auto MechanicsAutomobile WholesalingCar Body ShopsGas StationsUsed Car Parts Wholesaling|
|Products & Services|
|Taxi and taxi leasing servicesStretch limousine servicesLuxury and corporate sedan servicesHearse rentals and other funeral servicesSUV, large van and other servicesChart: Taxi & Limousine Services Industry Products and Services Segmentation|
|IncomeBusiness travelAvailability of substitutes|
|Private consumersCorporate customersChart: Major Market Segmentation for the Taxi & Limousine Services Industry|
|Chart: Business Locations by State|
|Market Share Concentration|
|Key Success Factors|
|Cost Structure Benchmarks|
|Chart: Cost Structure Benchmarking – Sector vs Taxi & Limousine Services|
|Basis of Competition|
|Barriers to Entry |
|Table: Barrier to Entry Checklist for the Taxi & Limousine Services Industry|
|There are no major players in this industry|
|Chart: Level of Capital Intensity for the Taxi & Limousine Services IndustryChart: Tools of the Trade: Growth Strategies for Success|
|Technology & Systems|
|Chart: Volatility vs Industry Growth|
|Regulation & Policy|
|Table: Industry Data for the Taxi & Limousine Services Industry|
Industry Revenue (2007-2021)Industry Gross Product (2007-2021)Establishments (2007-2021)Businesses (2007-2021)Employment (2007-2021)Wages (2007-2021)Consumer Spending (2007-2021)|
Table: Annual Percentage Change for Key Industry Data
Table: Key Ratios for Industry Key Data
Table: Industry Financial Ratios
|Jargon & Glossary |
A larger, longer and more expensive version of a regular limousine.
An emblem of registration for a taxicab.
A luxury passenger vehicle with an elongated wheel base.
A luxury corporate sedan used by operators in the limousine market.
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 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.
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.