Industry Analysis & Industry Trends
The Taxi Operation industry consists of participants that provide taxis and private-hire vehicles (PHVs) for personal and business transport on British roads. The two-tier system in place in the United Kingdom distinguishes between taxis, which can pick up customers directly on the street, and PHVs, which must be pre-booked through a licenced operator. The industry has faced challenging operating conditions over the past five years because of volatile input costs and unsteady demand. Nevertheless, industry revenue is forecast to increase at a compound annual rate of 4.2% over the five years through 2016-17, to reach £9.1 billion. Moderate expansion is anticipated for the current year, with industry revenue expected to rise by 2.4%... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Taxi Operation industry is estimated to be in the mature phase of its life cycle. Industry value added, a measure of the industry's contribution to the wider economy, is forecast to increase at a compound annual rate of 1.9% over the 10 years through 2021-22. GDP in the United Kingdom is projected to rise at a compound annual rate of 2.3% over the same period. The similarity between the two growth rates indicates an industry in the mature stage of the industry life cycle.
The industry was able to grow significantly over the past five years despite difficult operating conditions. As downstream conditions improve further in the coming years, the industry is expected to enter a period of steady growth in line with its industry life cycle phase... purchase to read more