Water Taxi Global Market Report 2025

The water taxi market size has grown strongly in recent years. It will grow from $251.88 billion in 2024 to $266.69 billion in 2025 at a compound annual growth rate (CAGR) of 5.9%. The growth during the historic period can be attributed to rising maritime tourism and recreational travel, increasing government support for alternative transport, growing investments in coastal infrastructure and waterways, rising demand for affordable and eco-friendly transport, and greater adoption of water transport in smart city projects.

The water taxi market size is expected to see strong growth in the next few years. It will grow to $330.72 billion in 2029 at a compound annual growth rate (CAGR) of 5.5%. The growth during the forecast period can be attributed to increasing development of public water transport networks, rising government initiatives promoting sustainable marine mobility, growing demand for high-speed energy-efficient ferries, and expanding investments in tourism-based waterway services. Key trends in the forecast period include advancements in electric and autonomous water taxi technologies, integration of smart navigation and booking systems, innovations in lightweight hull and composite materials, development of hybrid propulsion and energy-saving systems, and innovations in multimodal urban water transport connectivity.

The rising coastal and marine tourism is expected to drive the expansion of the water taxi market in the coming years. Coastal and marine tourism includes travel and recreational activities in coastal and ocean environments, such as beach vacations, boating, diving, and wildlife watching, which depend on the natural and cultural resources of marine areas. This form of tourism is increasing as more travelers seek nature-based and adventure experiences, including snorkeling, sailing, and exploring marine ecosystems. Water taxis play a crucial role in coastal and island destinations by providing efficient and sustainable transport between beaches, islands, and waterfront attractions, improving accessibility and enhancing the overall visitor experience. For example, in November 2024, according to the World Travel and Tourism Council, a UK-based forum for the travel and tourism industry, coastal and marine tourism contributed an estimated US$1.5 trillion to the global economy in 2023 and supported around 52 million jobs worldwide. Therefore, rising coastal and marine tourism is driving the growth of the water taxi market.

Key companies in the water taxi market are increasingly investing in advanced technologies, such as electric luxury foiling water taxis, to improve energy efficiency, reduce carbon emissions, and provide a sustainable and premium passenger experience. An electric luxury foiling water taxi is a high-end, eco-friendly vessel powered by electric propulsion and equipped with hydrofoil technology, which lifts the boat above the water to reduce drag and enable faster, smoother, and more energy-efficient transport. For instance, in April 2023, Artemis Technologies, an Ireland-based maritime technology company, launched the Artemis EF-12 Escape, a 100% electric luxury foiling water taxi designed for sustainable, high-performance maritime transport. The vessel features advanced eFoiler hydrofoil technology, allowing it to glide above the water for a smooth, quiet, and emission-free ride. With a top speed of 30 knots and a foiling range of 52 nautical miles, the EF-12 Escape accommodates up to 12 passengers in a spacious, air-conditioned cabin and fully recharges in under 60 minutes. It is engineered for luxury travel, urban mobility, and environmentally sensitive waterways, offering a zero-emission, low-wake solution that sets a new standard for eco-friendly waterborne transportation.

In October 2023, Homalco First Nation, a Canada-based provider of Indigenous-led economic development and tourism services, acquired Way West Water Taxi Ltd. for an undisclosed amount. Through this acquisition, Homalco aims to diversify and expand its regional marine transport and tourism portfolio, strengthen local control of essential coastal transportation links, and grow its customer base across Campbell River and surrounding islands. Way West Water Taxi Ltd. is a Canada-based provider of water taxi and charter marine transportation services, offering passenger and freight transport to remote communities and supporting tourism for industries and residents across northern Vancouver Island and nearby inlets.

Major players in the water taxi market are Quer Barcelona S.L., Hiab Oy, Bord à Bord S.L., ARES Shipyard Inc., Artemis Technologies Ltd., Knautical Ltd., WATERBUS S.C., Munson Boats Inc., ENP S.A., Navalt Group S.L., Reflex Advanced Marine Corp., Alumax Boats B.V., LarsenB AS, Lucietta Yachts Ltd., Mercan Yachting A.S., SeaBubbles SAS, Streamline Marine Composite Developments Ltd., Uniwork Boats Co. Ltd., Izmir Shipyard A.S., Moggaro Aluminium Yachts Ltd.

North America was the largest region in the water taxi market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in water taxi report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the water taxi market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The swift increase in U.S. tariffs and the ensuing trade tensions in spring 2025 are significantly affecting the transport services sector by driving up costs for vehicles, spare parts, and fuel, key inputs often sourced from tariff-affected regions. Freight operators, logistics providers, and public transportation systems are facing squeezed profit margins as higher equipment and maintenance costs coincide with limited ability to pass on these expenses to customers due to competitive pressures. The uncertainty has also delayed fleet modernization and the adoption of greener, more efficient vehicles, slowing progress toward sustainability goals. To adapt, transport firms are optimizing route planning, investing in fuel efficiency technologies, renegotiating supplier contracts, and exploring collaborative logistics models to share costs and mitigate the impact of higher tariffs.

The water taxi market research report is one of a series of new reports that provides water taxi market statistics, including water taxi industry global market size, regional shares, competitors with a water taxi market share, detailed water taxi market segments, market trends and opportunities, and any further data you may need to thrive in the water taxi industry. This water taxi market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

A water taxi refers to a commercially operated boat or vessel designed to transport passengers across bodies of water on a hire or on-demand basis. It serves as a flexible mode of waterborne transportation, allowing passengers to travel between designated stops or custom destinations without adhering to fixed schedules, and is typically managed under regulated maritime transport services to ensure safety and operational efficiency.

The key types of water taxis include yachts, cruises, ferries, sailboats, and others. Yachts are luxurious watercraft primarily intended for private use, often equipped with high-end amenities and spacious interiors to provide comfort and style for leisure travel. They come with various propulsion types, such as electric, diesel, and hybrid, and in different sizes, including below 30 feet, 30-50 feet, and above 50 feet. Water taxis are applied in public transportation, leisure and tourism, business and corporate transport, personal use, and other purposes.

The water taxi market includes revenues earned by entities through passenger transport services, charter services, event transportation, commuter services, and onboard amenities and hospitality. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 3-5 business days.