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The global moto taxi service industry is being driven by the rising concerns of traffic congestion, caused by the rising number of private vehicles on the road. This is a pressing concern in densely populated areas, especially in countries like India. Additionally, the rising demand for quick and affordable transportation and package delivery services is also anticipated to propel the market growth in the forecast period. This can be associated with the easy navigability of bikes in crowded areas. Moreover, the increased availability of e-hailing services through smartphone apps is also predicted to add to industry growth in the forecast period.
The heightened capital expenditure by the leading market players to expand their consumer base across densely populated countries is predicted to aid the market growth. For instance, in December 2019, Uber Technologies Inc. (NYSE: UBER) announced the finalisation of the four-fold expansion of its operations in India from 52 cities to 200, wherein the key driver will be bike-taxi services. Such services are already in place within the country in states like Maharashtra and Karnataka. In addition, the company will also include three-wheelers as a part of this initiative. These developments are expected to positively impact the growth of the moto taxi service industry in the forecast period.
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The major players in the global moto taxi service market are ANI Technologies Pvt. Ltd., GOJEK, Baxter, Grab, Bolt Technology OU, Uber Technologies Inc., MotoTaxi Services, and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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