Water Taxi Market to Reach US$18.57 Billion by 2031 | CAGR 3.6% (2025–2031)

The Global Water Taxi Market is on a promising growth path, according to a detailed research report published by The Insight Partners. The market is projected to grow from US$ 14.56 billion in 2024 to US$ 18.57 billion by 2031, registering a compound annual growth rate of 3.6% during the forecast period from 2025 to 2031. Covering historical data from 2021 to 2023, the report provides comprehensive insights into market size, share, key drivers, segmentation, regional dynamics, and the competitive landscape shaping the future of water-based passenger transport worldwide.

Market Overview

Water taxis are small passenger vessels that provide scheduled or on-demand transport services across rivers, lakes, harbors, and coastal waterways. Ranging from traditional ferries to luxury yachts, these vessels serve as an environmentally friendly, efficient, and scenic alternative to road-based transportation. Their growing inclusion in urban mobility plans and tourism strategies is steadily strengthening their presence across global markets. As cities grapple with rising traffic congestion and the urgent need for sustainable transport solutions, water taxis are increasingly being recognized as a practical and appealing alternative.

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Key Growth Drivers

Urban congestion is one of the most significant forces driving the water taxi market. In densely populated metropolitan areas where road networks are overstretched, water taxis offer a viable solution for relieving traffic pressure while improving last-mile connectivity. Cities with accessible waterways are actively integrating water taxi services into their broader public transport ecosystems, supported by digital ticketing platforms, GPS monitoring, and real-time scheduling technologies.

The rapid expansion of coastal and waterfront tourism is another powerful growth catalyst. Popular destinations such as Venice, Sydney, and Mumbai have long embraced water taxis as an essential component of their tourism offerings. As experiential travel gains popularity globally, demand for scenic and personalized water-based journeys is rising sharply, with operators investing in premium vessel designs to cater to discerning travellers.

Government support for sustainable marine mobility is also accelerating market growth. Incentives and policy frameworks promoting electric and hybrid vessel fleets are encouraging operators to modernize their fleets and reduce emissions. This regulatory push, combined with rapid advances in electric propulsion, battery technology, and autonomous navigation, is opening new avenues for efficiency, scalability, and performance across the industry.

Market Segmentation

By Product

• Ferries
• Yachts

By Propulsion

• Diesel
• Electric

By Length

• Above 10m
• Upto 10 M

By Boat Size

• 30-50 ft
• Below 30 ft

Regional Insights

North America holds the largest market share, supported by well-established ferry systems, strong coastal tourism activity, and government incentives for green marine transport. Asia Pacific is the fastest-growing region, driven by rapid urbanization, coastal infrastructure development, and blue economy initiatives in countries such as India, China, and Indonesia. Europe maintains steady growth through its canal-based transit networks and strong commitment to zero-emission transport, particularly in cities such as Amsterdam, Venice, and Stockholm.

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Competitive Landscape

• Damen Shipyards Group - Netherlands
• Brunswick Corporation - United States
• Beneteau Group - France
• Vision Marine Technologies - Canada
• Candela Technology AB - Sweden
• X Shore - Sweden
• Massimo Marine - United States

Conclusion

The water taxi market is well-positioned for sustained growth through 2031, driven by urbanization, rising tourism, sustainability imperatives, and technological innovation. As cities and governments worldwide prioritize cleaner and smarter mobility solutions, water taxis are set to play an increasingly important role in the future of urban and coastal transportation.

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About The Insight Partners

The Insight Partners is among the leading market research and consulting firms in the world. We take pride in delivering exclusive reports along with sophisticated strategic and tactical insights into the industry. Reports are generated through a combination of primary and secondary research, solely aimed at giving our clientele a knowledge-based insight into the market and domain. This is done to assist clients in making wiser business decisions. A holistic perspective in every study undertaken forms an integral part of our research methodology and makes the report unique and reliable.

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