Breaking rank: Revenue is back on track following COVID-19 restrictions and rideshare challenges
Taxi and limousine transport operators have faced intensifying external competition and reductions in demand in recent years. The pandemic significantly reduced demand for the taxi and limousine services. The market heavily relies on demand from international, domestic, and business travellers moving to and from airports, all of which were heavily restricted during the pandemic. Furthermore, prolonged city-wide lockdowns in Melbourne and Sydney in the 2021 calendar year required hospitality, arts and entertainment venues to close, which consumers frequently attend using industry transport services. Remote work arrangements have also reduced the need for businesses to use taxi services to move to and from meetings. Overall, taxi and limousine operators' revenue is expected to decline at an average of 5.8% per year over the five years through 2022-23, to $2.26 billion. However, this performance includes an anticipated increase of 13.4% in the current year, as restrictions on movement have eased.
Industry participants primarily operate taxicabs or private hire cars, or provide specialty road transport services such as wedding cars. The industry excludes ridesharing services, such as Uber.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- A2B Australia Limited
Methodology
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