Industry Statistics and Trends
Market size and recent performance (2016-2031)
Industry revenue has grown at a CAGR of 13.7 % over the past five years, to reach an estimated $74.2bn in 2026.
Trends and Insights
Executive security concerns drive premium black car service demand and investment
- Business travel rebound strengthens chauffeured transportation adoption among corporations. A 2024 GBTA survey found that 82.0% of US and Canadian travel managers permit chauffeured transportation in their travel policies, with 76.0% extending these benefits primarily to executives and CEOs. The business travel recovery has led to an expansion of demand for professional ground transportation as companies resume in-person meetings and executive travel.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2026-2031)
Market size is projected to grow over the next five years.
Trends and Insights
Bundled travel packages and airport infrastructure expansion drive taxi service demand
- The convergence of consumer demand for integrated travel solutions and strategic airport investments is creating a multifaceted growth environment for airport taxi operators. A 2025 Zeta survey found that 31.0% of travelers seek bundle-and-save trip options, while McKinsey's 2024 findings revealed that 46.0% of travelers favor bundled packages that combine flights, hotels, insurance and airport transfers. Booking.com's "connected trips" platform—which consolidates flight, taxi and attraction bookings into unified transactions—achieved 40.0% year-over-year growth in connected bookings during Q3 2025. This shift toward integrated booking simultaneously aligns with infrastructure improvements, such as San Antonio International Airport's planned third parking garage with dedicated taxi and shuttle lanes, set to launch by fall 2027, which'll reduce congestion and streamline passenger transfers.
Biggest companies in the Taxi & Limousine Services in the US
| Company | Market Share (%)
2025 | Revenue
2025 | Profit
2025 | Profit Margin (%)
2025 |
|---|
There are no companies that hold a market share exceeding 5% in the Taxi & Limousine Services in the US industry.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Black Car, Limos/Luxury and Taxis. Black Car is the largest segment of the Taxi & Limousine Services in the US.
Trends and Insights
Corporate executive perks and fleet investments drive black car service growth
- Black car services comprise pre-arranged, chauffeur-driven luxury sedans and SUVs dispatched through licensed bases rather than street hails. This segment emphasizes reliability and professional standards for corporate travelers and high-income leisure clients, supporting a dominant share of industry revenue. Recurring high-yield trips from corporate contracts, airport transfers and executive travel structurally outperform street-hail taxi revenue, positioning black cars as the industry's premium standard for secure and reliable mobility.
- More insights available in the full report
Table of Contents
About this industry
Industry definition
Companies in this industry provide passenger transportation via taxis, sedans, limousines and other automobiles. Taxi services are not operated on regular schedules or routes, and limousine services are rented or hired with a driver. This industry also includes limousine and hearse rentals for funeral services. However, specialized shuttle services that transport passengers to or from hotels and airports are not included in this industry.
What's included in this industry?
Products and services covered in the Taxi & Limousine Services industry in the United States include Providing limousine services, Providing luxury sedan services, Providing chauffer and personal driver services and Providing corporate sedan services.Companies
Companies covered in the Taxi & Limousine Services industry in the United States include .Purchase this report to view all major companies in this industry.
Related Terms
Related terms covered in the Taxi & Limousine Services industry in the United States include town car, stretch limousine, medallion and limo bus.Industry Code
NAICS 485310 - Taxi & Limousine Services in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Security-focused corporate demand justifies premium black car pricing despite rising costs. Companies are increasingly prioritizing executive safety through chauffeured servi...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2016-2025) and forecast (2026-2031)
- Employees, including historical (2016-2025) and forecast (2026-2031)
- Businesses, including historical (2016-2025) and forecast (2026-2031)
- Profit, including historical (2016-2026)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Black cars are overtaking stretch limousines as the premium segment leader. Shifting consumer preferences and black car operators' lower pricing strategies have driven growth...
In this chapter
- Products & Services
- Major Markets
Key metrics
- Largest market segment and value in 2026
- Product innovation level
Charts
- Products & services segmentation in 2026
- Major market segmentation in 2026
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
New York City's role as a major business hub enhances its taxi service industry, supported by its busy airports. The high volume of business trips increases demand for conven...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2026
Tables
- Number and share of establishments in each state in 2026
- Number and share of revenue each state accounts for in 2026
- Number and share of wages each state accounts for in 2026
- Number and share of employees in each state in 2026
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
The fragmentation of the taxi industry is accelerating due to the rise of ride-hailing apps like Uber and Lyft. By making it easier for drivers to enter the market, these app...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2021-2026
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
There are no companies that hold a market share exceeding 5% in the Taxi & Limousine Services in the US industry.
Analyst insights
The industry remains highly fragmented. Lowering the barriers to entry has incentivized new entrants and driven up the number of non-employers operating in the industry, whic...
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Corporate profit signals the health of the corporate sector and its spending power. When corporate profits expand, businesses are more likely to spend on limousine services, ...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2016-2031)
- Assistance historical data and forecast (2016-2031)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Taxis and limousine services have been recovering profitability by integrating with ride-hailing apps like Uber. This partnership allows access to more consumers and reduces ...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2026
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2026
- Investment vs. share of economy
Data tables
- Industry Multiples (2019-2024)
- Industry Tax Structure (2019-2024)
- Income Statement (2019-2024)
- Balance Sheet (2019-2024)
- Liquidity Ratios (2019-2024)
- Coverage Ratios (2019-2024)
- Leverage Ratios (2019-2024)
- Operating Ratios (2019-2024)
- Cash Flow & Debt Service Ratios (2016-2031)
- Revenue per Employee (2016-2031)
- Revenue per Enterprise (2016-2031)
- Employees per Establishment (2016-2031)
- Employees per Enterprise (2016-2031)
- Average Wage (2016-2031)
- Wages/Revenue (2016-2031)
- Establishments per Enterprise (2016-2031)
- IVA/Revenue (2016-2031)
- Imports/Demand (2016-2031)
- Exports/Revenue (2016-2031)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2016-2031)
- IVA (2016-2031)
- Establishments (2016-2031)
- Enterprises (2016-2031)
- Employment (2016-2031)
- Exports (2016-2031)
- Imports (2016-2031)
- Wages (2016-2031)
Top Questions Answered
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Taxi & Limousine Services industry in the United States in 2026?
The market size of the Taxi & Limousine Services industry in the United States is $74.2bn in 2026.
How many businesses are there in the Taxi & Limousine Services industry in the United States in 2026?
There are 2m businesses in the Taxi & Limousine Services industry in the United States, which has grown at a CAGR of 6.0 % between 2021 and 2026.
How may import tariffs affect the Taxi & Limousine Services industry in the United States?
The Taxi & Limousine Services industry in the United States is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Taxi & Limousine Services industry in the United States?
The Taxi & Limousine Services industry in the United States is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Taxi & Limousine Services industry in the United States grown or declined over the past 5 years?
The market size of the Taxi & Limousine Services industry in the United States has been growing at a CAGR of 13.7 % between 2021 and 2026.
What is the forecast growth of the Taxi & Limousine Services industry in the United States over the next 5 years?
Over the next five years, the Taxi & Limousine Services industry in the United States is expected to grow.
What does the Taxi & Limousine Services industry in the United States include?
Providing limousine services and Providing luxury sedan services are part of the Taxi & Limousine Services industry in the United States.
How competitive is the Taxi & Limousine Services industry in the United States?
The level of competition is high and increasing in the Taxi & Limousine Services industry in the United States.
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
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