Global New Energy Vehicle (NEV) Taxi Market Analysis, Trends, Applications, And Growth Forecast to 2028
“Global New Energy Vehicle Taxi Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global new energy vehicle taxi market report has been segmented on the basis of ownership, distance range, and region.
Global New Energy Vehicle Taxi Market: Overview
New Energy Vehicle (NEV) taxi is a vehicle which is used as taxi. NEV taxi is also called an electric taxi that is fully or partially powered by electricity. These vehicles reduce air pollution as compared to other conventional diesel or petrol taxis.
Global New Energy Vehicle Taxi Market: Dynamics
Major driving factors of the global new energy vehicle taxi market are faster vehicle development, technological advancement, and favorable government support. Moreover, higher fuel rate, stringent emission norms, tax incentive and subsidies provided by the government are some factors expected to propel growth of the NEV taxi market. In addition, increasing air pollution levels, which are harmful to human health and environment, has prompted the government and regulatory bodies to plan, design, and develop eco-friendly technology and vehicles. Furthermore, increasing focus to eliminate pollution caused by conventional vehicles, along with increasing investments for low emission technologies are some factors expected to support growth of the target market. Also, increasing R&D activities related to electric vehicles for low or zero-carbon transport is estimated to create new opportunities in terms of revenue for players operating in the global market.
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Global New Energy Vehicle Taxi Market: Segmentation Analysis
Among the ownership segments, the company owned segment is projected to hold a major share in terms of revenue in the global market. Rapid urbanization, economic growth, and technological advancements with app-based taxi or cab booking facility are expected to drive growth of the target segment. Also, the preference for private taxi ownership is growing owing to the availability of private financing schemes.
Among the distance range segments, the short-range NEV taxis segment is projected to grow at a faster pace over the forecast period.
Global New Energy Vehicle Taxi Market: Regional Analysis:
The new energy vehicle taxi market in the Asia Pacific is expected to register a major revenue share in the global market over the forecast period. Rising demand for electric vehicles in Japan and China, along with the easy availability of electric charging stations are encouraging to adopt NEV taxi in the country. Moreover, encouraging government policies and initiatives in order to curtail emission level and raising awareness to opt for NEV’s are expected to fuel growth of the target market in the region. Furthermore, the Government of India has announced to switch to electric taxi is also projected to boost the regional market growth. For instance, the China government initiated ‘Ten Cities- Thousand Vehicles Program’ to stimulate electric vehicle development and vehicle emission control program to promote the development and adoption of new energy vehicles and public transportation (taxis, buses, trucks), giving a new way for growth of the target market. Moreover, advancement in battery technologies expected to contribute positively.
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Global New Energy Vehicle Taxi Market Segmentation:
Segmentation by Vehicle Type:
· Company Owned
· Individually Owned
Segmentation by Distance Range:
· Short Range NEV Taxis
· Long Range NEV Taxis
Segmentation by Region:
· North America
· Asia Pacific
· Latin America
· Middle East & Africa
BYD Auto Co., Ltd.
Mahindra and Mahindra Limited
Toyota Motor Corporation
Ford Motor Company
Honda Motor Co., Ltd.
Nissan Motor Corporation
General Motors Company