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| Market Size (industry trends) | |
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| Products/Services Breakdown | |
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| Financial Metrics | |
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| Salary & Compensation Statistics | |
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| Public Company Information | |
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| Government Vendors | |
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2023 U.S. Industry Statistics & Market Forecast - Limousine Service
Market Size & Industry Statistics
The total U.S. industry market size for Limousine Service:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2017 2018 2019 2020 2021 2022 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year / six-year demand forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|
| Market Forecast ($ millions) | ||||||
| Projected Industry Growth Rate (%) | ||||||
Industry Insights
The Limousine Service industry has undergone a significant transformation in the past decade and continues to evolve to keep up with the changing demands of its customers. Some key trends impacting the industry include:1. Technology innovation: A digital revolution is taking hold of the industry, with the emergence of online booking platforms, mobile apps, and usage of ride-hailing services like Uber and Lyft.
2. Growing demand for luxury services: With the increasing demand for high-end luxury services, limousine hiring has become a popular choice for corporate clients, weddings, and other special events.
3. Increased competition: As the market grows, there is an increased competition that requires operators to invest in new technologies and to provide excellent customer service to differentiate themselves from others.
4. Preference for eco-friendly vehicles: Environmental concerns and global climate change is driving the desire for more environmentally friendly options such as electric and hybrid vehicles.
5. Focus on safety: Customers are seeking after more secure and safer transportation options, thus putting more emphasis on the safety of drivers and passengers.
With these trends impacting the limousine service industry, it is important for operators to stay adaptable and flexible to shift their strategies, embrace innovation, and better adapt to the diverse and changing preferences of their customers.
Product & Services Breakdown
Research products and services in the Limousine Service industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Local Passenger Transportation By Road, Except Fixed-Route |
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Local Passenger Transportation By Limousines And Similar Luxury Vehicles |
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U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) | |
|---|---|---|
| Total Revenue | Order at top of page |
|
| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Limousine Service company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Limousine Service industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Limousine Service measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 5% | Order at top of page |
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| General and Operations Managers | 4% | |||
| Office and Administrative Support Occupations | 18% | |||
| Material Recording, Scheduling, Dispatching, and Distributing Workers | 8% | |||
| Dispatchers | 8% | |||
| Dispatchers, Except Police, Fire, and Ambulance | 8% | |||
| Transportation and Material Moving Occupations | 69% | |||
| Motor Vehicle Operators | 66% | |||
| Passenger Vehicle Drivers | 66% | |||
| Shuttle Drivers and Chauffeurs | 43% | |||
| Taxi Drivers | 21% | |||
Limousine Service Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Limousine Service industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Limousine Service industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Limousine Service industry. |
Source:
Government Contracts
In 2022, the federal government spent a total of $23,615,964 on Limousine Service. It has awarded 121 contracts to 36 companies, with an average value of $655,999 per company.| Most Recent Contracts | Date | Total Award Amount |
|---|---|---|
| SIXT RENT-A-CAR AG Schwarzwaldallee 242 Basel, | Jun 30, 2023 | $19,184 |
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