What is New Energy Vehicle (NEV) Taxi Market?
New energy vehicle taxi is gaining much popularity due to the growing environmental concern and reimbursements by the government to develop EVs and reduce pollutant emission. New energy vehicle taxi is widely adopted in developing country China for public transportation due to their energy efficiency and the availability of proper charging infrastructure in the Country. High adoption of NEV taxies in China will open a significant opportunity for the new entrances that may create dominance in the Asian market.
The market study is being classified by Type (BEV, HEV, PHEV and Fully Electric), by Application (Corporates and Public Transportation) and major geographies with country level break-up.
Daimler AG (Germany), Tesla, Inc. (United States), Ford Motor Company (United States), BYD Auto (China), Mitsubishi Motors (Japan), Nissan (Japan), Xpeng Inc (China), Nio Inc (China), SAIC Motor (China), Geely (Hong Kong) and Bayerische Motoren Werke AG (Germany) are some of the key players profiled in the study.
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new mobility solutions, which is likely to encourage the growth of the global market throughout the forecast period.
Segment Analysis
Analyst at AMA have segmented the market study of Global New Energy Vehicle (NEV) Taxi market by Type, Application and Region.
On the basis of geography, the market of New Energy Vehicle (NEV) Taxi has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, 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
- High Adoption of NEV Taxis by the Car Sharing and Hailing Service Providers
- Government’s Initiative to Spread Awareness and Policies About New Energy Vehicles to Reduce Carbon Emission
Market Trend
- Increased Focus on Innovation to Add New Features and Evolution of Autonomous Vehicles
Restraints
- High Cost Of NEV Taxis and Volatility in the Raw Material Prices
Opportunities
- Growing Popularity of HEV New Energy Vehicle Taxi in the Developing Countries
Challenges
- Lack of Proper Charging Infrastructures and Slow Adoption of Short Range NEV Taxis May Hamper the Growth
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, New Energy Vehicle (NEV) Taxi Manufacturers, Raw Material Manufacturers and Suppliers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations, End-Users and Others