About Electric Taxi
Taxis are an important part of public transportation system, providing both flexibility of private vehicles and shareability of public transportation. In many cities across the globe, there are usually a large number of taxis, serving the ad-hoc demands of customers. Electric taxi is a vehicle with portable energy source and traction effort provided by electric motor. Favorable government policies and subsidies and increasing demand for low cost electric taxis worldwide are the major factors driving the market growth
Attributes | Details |
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Study Period | 2019-2028 |
Base Year | 2023 |
Unit | Value (USD Million) |
On 8 Oct, 2018, the green transformation of London’s black cabs continues apace, with 500 zero-emission capable LEVC TXs on the road in the capital. By moving to one of these vehicles, a taxi driver reduces their carbon footprint by seven million tonnes a year Analyst at AMA Research estimates that Japanese and German Vendors will contribute the maximum growth to Global Electric Taxi market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
BYD Motor Corp. (China), Nissan Motor Co. Ltd. (Japan), Tesla Motors Inc. (United States), BMW AG (Germany), Fiat Chrysler Automobiles (United Kingdom), General Motors Co. (United States), Honda Motor Co. Ltd. (Japan), Mitsubishi Motor Corp. (Japan), Toyota Motor Corp. (Japan) and Volkswagen Group. (Germany) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Chery Automobile Co. Ltd. (China), SAIC Motor Corp. Ltd. (China) and LEVC (United Kingdom).
Segmentation Overview
AMA Research has segmented the market of Global Electric Taxi market by Type (Compact Electric Taxi, Sedan Electric Taxi and SUV Electric Taxi), Application (Taxi Company, Luxury Customized Taxi Company and Other) and Region.
On the basis of Type, Sedan Electric Taxi are dominating the market in the year 2023 where as Compact Electric Taxi stood as second largest market share.
On the basis of application, Taxi Company segment is dominating the market in the year 2023 where as Luxury Customized Taxi Company segment stood as second largest market .On the basis of geography, the market of Electric Taxi 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). North America region held largest market share in the year 2023. Asia Pacific, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Propulsion, the sub-segment i.e. BEV will boost the Electric Taxi market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing concern about environmental pollution
Market Growth Drivers:
Favorable government policies and subsidies and Increasing demand for low cost electric taxis
Challenges:
Provide limited range of travel
Restraints:
Lack of standardization
Opportunities:
Rising demand from developing economies
Market Leaders and their expansionary development strategies
In November 2019, Ideanomics, a global financial technology company has announced that its Mobile Energy Global (MEG) division has secured an order for 35,000 Electric Vehicle (EV) taxis from the Yunnan Energy Investment Group, which is a province-designated entity for clean energy transportation solutions in China.
In November 2023, InterGlobe Enterprises, India’s foremost travel and hospitality conglomerate and Archer Aviation Inc. a leader in electric vertical takeoff and landing (eVTOL) aircraft,has launched and operate an all-electric air taxi service in India, subject to appropriate regulatory approvals and clearances.
The federal government and a number of states offer financial incentives, including tax credits, for lowering the up-front costs of plug-in electric vehicles (also known as electric cars or EVs)
Key Target Audience
Manufacturers of electric taxi, Suppliers of electric taxi parts, Wholesalers, distributers and retailers of electric taxi, Automotive industry, Governmental bodies and Research and consulting firms
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.