What is TAXI Battery Market?
A taxi battery must be of such kind that can be used all day long as per the working load of the taxi. The taxi battery takes all the load of carrying passengers from one place to another, all day. Hence a taxi should have an efficient and good battery. Whenever needed a good taxi battery will help in starting the engine of the taxi many times throughout a shift. A good number of taxis are comprised of diesel engines and having a high powered battery in such cases is the best choice. Details such as the battery capacity, physical size, and starting amps are also very essential in the process of procurement of these batteries.
Highlights from TAXI Battery Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | A123Systems (China), AESC (United States), BYD (China), E-One Moli Energy (Taiwan), Electrovaya (Canada), Johnson Matthey Battery Systems (United Kingdom), NEC Corp (Japan), Robert Bosch GmbH (Germany), Exide Technologies (United States), Advanced Batteries (United Kingdom), Clarios (United States) and Us Batteries (United States) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global TAXI Battery market throughout the forecasted period.
A123Systems (China), AESC (United States), BYD (China), E-One Moli Energy (Taiwan), Electrovaya (Canada), Johnson Matthey Battery Systems (United Kingdom), NEC Corp (Japan), Robert Bosch GmbH (Germany), Exide Technologies (United States), Advanced Batteries (United Kingdom), Clarios (United States) and Us Batteries (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Hyundai Sungwoo Holdings (South Korea), Lucas Industries (United Kingdom) and Trojan Battery Company (United States). TAXI Battery Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Passenger Cars, Commercial Vehicles and Hybrid Vehicles |
Type | EFB (Enhanced Flooded Batteries) and AGM (Absorbent Glass Mat) Batteries |
Vehicle Type | Fuel Cars,Electric Cars |
Sales Channel | OEM,Aftermarket |
Maintenance Type | MF (Maintenance Free),SMF (Sealed Maintenance Free) |
Battery Type | Lithium-Ion Batteries,Lead-Acid Batteries |
On the basis of geography, the market of TAXI Battery has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increase in the Growing Trends of Adoption of Taxi Services in Developing Regions Will Lead to a Growth in Taxi Battery Market and Growing Trend of Integrating of Automation in the Automotive Sectors With the Rising Demand of Hi-Tech Population
Market Growth Drivers:
Rapid Growth of the Automotive Sector in Emerging Economies is Driving the Market Demand and Increase in the Adoption of More Electricity Based Vehicles Because Of Rising Environment Related Issues
Challenges:
High Competition among Key Players
Restraints:
Unavailability of the Raw Materials Used for Making These Batteries and Severe Regulations Associated with Batteries Set by Government
Opportunities:
Growing Technological Advancements, Research and Development for Improving the Output of these Taxi Batteries Will Enhance the Opportunities for Growth of Market near Future and The Rise in Demand of High Output Taxi Batteries Is Likely To Bring More Opportunities to the Overall Market of Taxi Batteries
Key Target Audience
Manufacturers of Taxi Battery, Suppliers of Taxi Battery, Wholesalers and Distributors of Taxi Battery, Automobile Industry, Electronic Industry and Governmental Bodies
Market Leaders & Development Strategies
In March 2021, Chinese electric vehicle (EV) maker BYD announced a partnership with Brazilian taxi operator SB Drive to launch a fleet of 500 electric taxis in São Paulo. The vehicles will use BYD's Blade Battery, which the company claims is more efficient and safer than other EV batteries.
In September 2020, British battery maker Hyperdrive Innovation announced that it had developed a new modular battery system for electric taxis. The system allows taxi operators to replace individual battery modules instead of the entire battery pack, which can save money and reduce downtime.
EU legislation is intended to “contribute to the protection, preservation, and improvement of the quality of the environment by minimizing the negative impact of batteries and accumulators and waste batteries and accumulators. This legislation also ensures the smooth functioning of the internal market by harmonizing requirements with regards to the placing of batteries and accumulators on the market. With some exceptions, it applies to all batteries and accumulators, independent of their chemical nature, size or design”.