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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 offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Market Share of Companies
There are no companies with a dominant market share
Industry Statistics & Market Size
Annual Growth 12-17
Annual Growth 17-22
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Industry Threats & Opportunities
  • Competition is expected to put downward pressure on prices over the next five years
  • Falling fuel prices have encouraged new players to enter the industry
  • All London taxis will be required to accept card payments by October 2016
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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 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 1.2% 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 industry was able to grow over the past five years despite difficult operating conditions but growth is expected to slow over the next five years on the back of economic uncertainty. Employment growth is also expected to slow its growth and can even dip if labour movement is impeded following the exit of the United Kingdom from the European Union.

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Additional Insights for the Taxi Operation Industry

IBISWorld identifies 250 Key Success Factors for a business.The most important for the Taxi Operation Industry are

  • Proximity to key markets
  • Effective cost controls
  • Marketing of differentiated products
  • IBISWorld analysts also discuss how external factors such as Business confidence index and Demand from bus and tramway operations in the Taxi Operation industry impact industry performance... purchase to read more


    Industry ProductsRelated Reports

    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

    Table of Contents
    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Business confidence index
  • Demand from bus and tramway operations
  • Fuel prices
  • Real household disposable income
  • International tourist numbers
  • Urban population
  • Current Performance
  • Harsh braking
  • Fuelling demand
  • Competitive pressures
  • New apps
  • Stalling growth
  • Chart: Revenue Growth
  • Industry Outlook
  • Potential speed bumps
  • Future payments
  • Rising regulations
  • Fuel prices
  • Table: Taxi Operation Industry Revenue Outlook
  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Taxi Operation Industry Lifecycle vs The Economy
  • Products & Markets
    Supply Chains
  • Key Buying Industries
  • Financial and Insurance Activities
  • Consumers
  • Key Selling Industries
  • Motor Vehicle Maintenance & Repair
  • New Car & Light Motor Vehicle Dealers
  • Petrol Stations
  • Products & Services
  • Private-hire vehicles
  • Taxicabs
  • Chart: Taxi Operation Industry Products and Services Segmentation
  • Demand Determinants
    Major Markets
  • Private customers
  • Businesses
  • Tourists
  • Chart: Major Market Segmentation for the Taxi Operation Industry
  • International Trade
    Business Locations
  • Chart: Business Locations by State
  • Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Depreciation
  • Rent and utilities
  • Other costs
  • Chart: Cost Structure Benchmarking – Sector vs Taxi Operation
  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Taxi Operation Industry
  • Industry Globalization
    Major Companies
    There are no major players in this industry
    Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Taxi Operation Industry
  • Chart: Tools of the Trade: Growth Strategies for Success
  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth
  • Regulation & Policy
    Industry Assistance
    Key Statistics
  • Table: Industry Data for the Taxi Operation Industry
  • Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Table: Annual Percentage Change for Key Industry Data
  • Table: Key Ratios for Industry Key Data
  • Jargon & Glossary
    Hackney Carriage
  • A type of taxicab also known as a black cab.
  • Private-Hire Vehicle (Phv)
  • Another term for a minicab.
  • Taxicab
  • Taxis that are hailed on the street or from a rank.

  • Why Buy this Report?
    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Taxi Operation:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Taxi Operation market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Taxi Operation, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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