Limousine Service Market to grow by USD 3.55 billion from 2023 to 2028; the market is fragmented due to the presence of prominent companies like AlTair Passenger Transport LLC, Aeroport Taxi and Limousine Service and American Luxury Limousines, and many more - Technavio
NEW YORK, Feb. 5, 2024 /PRNewswire/ -- The limousine service market is estimated to grow by USD 3.55 billion from 2023 to 2028, growing at a CAGR of 7.67%. The limousine service market is fragmented owing to the presence of many global and regional companies. A few prominent companies that offer limousine service market are A Savannah Nite Limousine Service, Aeroport Taxi and Limousine Service, Al Falasi Luxury Limousine Group of Co., All Star Limousine Service, AlTair Passenger Transport LLC, American Luxury Limousines, Barton T Ltd., Bell Limousine, Blacklane GmbH, Blue Star Limousine Inc., Boston Preferred Car Service, Cape Town Limo, Classique Worldwide Transportation, Dubai Exotic Limo Service, Dubai Limousine, Empire Limousine, EmpireCLS Worldwide Chauffeured Services, ExecuRide, Grab Holdings Ltd., Greenelimo ApS, Hughes, JR Limo Car Service, KLS Worldwide Chauffeured Services, LA Limousine, LimoFahr Ltd., Limos4 GmbH, Lindsey Limousine Inc., Los Angeles Limousine Services, Lyft Inc., Mears Transportation Group, Prestige Limousine Service, PRIMETIME LIMOUSINE, SIXT SE, Toronto Limo Rentals, Uber Technologies Inc., and Ecko Transportation Inc.
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Company Offering:
- Aeroport Taxi and Limousine Service - The company offers limousine services such as airport limos for executive travel.
- AlTair Passenger Transport LLC - The company offers limousine services for weddings, business summits, and other functions.
- American Luxury Limousines - The company offers limousine services for airport transportation and wedding transportation.
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Based on the Geography, the market is classified as Europe, North America, APAC, Middle East and Africa, and South America.
- Europe is estimated to contribute 33% to the growth of the global market during the forecast period. Growth in business travel, luxury tourism, exotic events, and urbanization are among the drivers of the region's market. Substantial demand for corporate travel solutions has been a major driver of the limousine services market in Europe.
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- Impactful driver- Rising demand for limousine services from corporate clients
- Key Trend - Emergence of autonomous limousine services
- Major Challenges - Rising concerns over passenger safety and security
Market Segmentation
- Based on Application, the market is classified into leisure and tourism, business and administrative. The leisure and tourism segment is estimated to witness significant growth during the forecast period. This segment is characterized by a variety of leisure activities, such as Sightseeing trips, special events, wine tours, and vacation travel to several destinations which offer enhanced experiences for the overall journey. In addition, limousine service providers may cooperate with tourist operators, destination management companies, and travel agencies to increase customer's total value proposition.
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TOC:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix
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SOURCE Technavio
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