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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
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 Investment Chapter

The Taxi Operation industry is expected to have a medium level of capital intensity in 2016-17, with an estimated £7.26 spent on labour for every £1.00 spent on capital. The industry's primary capital expense is vehicles. Private-hire operators compete on the comfort and modernity of their vehicles. However, most private-hire vehicles are owned by the drivers. As a result, the cost of a new vehicle is not recorded by the industry.

Despite the relatively large level of capital expenditure present in the industry, spending on labour far outstrips spending on capital. The large number of owner-operators in the industry contributes to the labour intensity. In many cases there is only one driver or employee per vehicle. How.. 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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