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 Locations Chapter
The distribution of industry establishments largely follows the spread of the UK population, economic activity and disposable income patterns. Operators transport people for both personal and business reasons and therefore the potential market is larger in urban areas with large clusters of businesses.
London is by far the largest region for the industry, with 28.2% of industry establishments located there despite only having 13.2% of the UK population. One of the reasons why London has such a high number of taxis is that it is at the centre of UK tourism and tourists are a major user of taxi services... purchase to read more