Stagnant revenue growth and heavy regulation have characterised the Taxi and Limousine Transport industry over the past five years. While industry services are well accepted across most demographics, they are discretionary and easily substituted. Weak discretionary income growth, fluctuating consumer sentiment and high household savings rates over the past five years have suppressed demand for taxi services, with consumers flocking to cheaper public transport providers. Industry revenue is forecast to rise modestly, by an annualised 0.4% over the five years through 2014-15. Over the current year, revenue is forecast to improve by 1.6%, to $5.5 billion.
Participants in this industry are primarily involved in operating taxicabs or private hire cars, or providing specialty road transport services such as wedding cars.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.