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Taxi Operation in the UK: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Taxi Operation Market Research Report | SIC H49.320 | Aug 2016

The right direction: Revenue is expected to grow despite competitive pressures

IBISWorld’s Taxi Operation market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Market Share of Companies
There are no companies with a dominant market share
Industry Statistics & Market Size
Revenue
£9bn
Annual Growth 12-17
1.3%
Annual Growth 17-22
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Profit
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Employment
344,783
Businesses
18,348
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. Industry revenue is forecast to increase at a compound annual rate of 1.3% over the five years through 2016-17 to reach £9.4 billion. Weak expansion is anticipated for the current year, with industry revenue expected to rise by 0.6% amid economic uncertainty... purchase to read more

Industry Report - Industry Key Buyers Chapter

The Taxi Operation industry is dominated by owner-operators and the self-employed. As a result, there are no major players in the industry. The four largest industry operators are estimated to account for just 3.4% of industry revenue in 2016-17. Private-hire vehicle (PHV) operators tend to be larger on average than taxi businesses. A lower fare rate for PHV operators means that vehicles need to be on the street for longer to generate the same return. The inability of PHVs to pick up passengers on the street means that they incur higher costs through the operation of radio and booking systems. The fragmented nature of the industry is illustrated by the fact that an estimated 70.6% of firms employed fewer than five employees in 2015 and 87.7% employed fewer than 10. In 2015, just 0.2% o.. purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Taxi Operation Industry?

The industry provides for-hire vehicle transport on British roads. This includes the use of hackney carriages (black cabs) and private-hire vehicles, limousines, executive cars and wedding cars. The industry also includes companies that exclusively provide related services, such as radio operators and taxicab owners.

Industry Products
TaxicabsPrivate-hire vehicles
 
Industry Activities
For-hire passenger vehicle operationDisability transport vehicle operationAirport transfersWedding car servicesLimousine transfer services


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