What is NEV Taxi Market?
NEV (New Energy Vehicle) taxi, also known as an electric taxi are the vehicles that are used as taxis, which are either fully or partially powered by electricity. It can provide power from the battery and can also recycle the power from vehicle putting on the brake. Moreover, it is manufactured to meets the idea of new energy vehicles and societal need. Further, Government support in the form of incentives as well as subsidies has been contributory in driving the uptake of NEV taxis.
The market study is being classified by Type (Short Range NEV Taxis and Long Range NEV Taxis), by Application (Company Owned and Individually Owned) and major geographies with country level break-up. According to AMA, the Global NEV Taxi market is expected to see growth rate of 38.3%
Daimler AG (Germany), AB Volvo (Sweden), Mahindra and Mahindra Ltd. (India), Toyota Motor Corporation (Japan), Tesla, Inc. (United States), BYD Auto Co., Ltd (China), Anhui Jianghuai Automobile Co Ltd (JAC) (China) and Changan Automobile Co. Ltd (China) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Groupe Renault (France), Beijing Automotive Industry Holding Co. Ltd. (BAIC) (China), Dongfeng Nissan Passenger Vehicle Company (China) and London Electric Vehicle Company (LEVC) (United Kingdom).
The market is fragmented with numerous players. Several Governing bodies in countries have formulated emission regulations and policies in order to curtail the emission level and prompt the shift in preference from existing vehicles to NEVs. Moreover, due to the expansion of the app-based taxi service industry around the world supplemented with the expansion of existing taxi service operators are propelling the growth of the NEV taxi market. Research Analyst at AMA predicts that China Vendors will contribute to the maximum growth of Global NEV Taxi market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global NEV Taxi market by Type, Application and Region.
On the basis of geography, the market of NEV 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rapid Increase in Air Pollution Level
- Rising Development and Implementation of Electric Vehicles
- Increase in Number of Electric Vehicles Station to Meet the Demand of NEV Taxi
Market Trend
- Adoption of Green Mobility, Owing to Limited Availability of Fossil Fuel
- The Advent of E-hailing Concept
- Development of Auto Technology
Restraints
- High Price of Fuel Leasing to High Travelling Cost
Opportunities
- Growing Concerns by the Government about Transportation Pollution Resulting in the Adoption of NEV Taxis for Transportation
Challenges
- Low Transparency in the Market for NEV Taxis
- Lack of Battery Recycle System and Uncertainty about Disposing Worn-Out Battery
Market Leaders and some development strategies
In 2019, China Association for Science and Technology launched worlds NEV approved by the State Council of the People's Republic of China and It will focus on the integrated development of automobiles, energy, transport, and information and communication, along with the application scenarios of smart cities, which will play a leading role in the future new energy vehicle (NEV) development in China and globally.
Key Target Audience
NEV Taxi Manufacturers, Government and Regulatory Bodies, Traders/Distributors/Suppliers, Marketing Firms, Industry Associations, Potential Investors, NEV Taxi Subcomponent Manufacturers and Downstream Vendors