Reliable Data You Can Trust
Reliable Data You Can Trust
A recent
report published by Infinium Global Research on NEV taxi market provides
in-depth analysis of segments and sub-segments in the global as well as
regional NEV taxi market. The study also highlights the impact of drivers,
restraints, and macro indicators on the global and regional NEV taxi market
over the short term as well as long term. The report is a comprehensive
presentation of trends, forecast and dollar values of global NEV taxi market.
According to the report, the global NEV taxi market is projected to grow at a CAGR
of 34.2% over the forecast period of 2019-2025.
In 2017,
Beijing replaced its 70,000 taxis with electric vehicles under the air
pollution control program implemented by the government. The governments are
trying to curb the pollution by shifting from the conventional fuel powered
engines to New Energy Vehicles (NEV). Hybrid and electric vehicles have caught
limelight in recent past due to their efficiency and high-tech features. Now,
these vehicles are being adopted in the taxi market creating a new eco-system
for themselves. Recently, Ideanomics, an AI development firm, entered into JV
with a Chinese electric vehicle manufacturer iUnicorn. This JV will assist in
the expansion of iUnicorn in the taxi market.
High
pollution due to increased emissions by the vehicles has forced the government
to put emission regulations on automobile manufacturers in order to control the
pollution. The car makers have shifted their focus from fuel-powered vehicles
to hybrid and electric vehicles. As the new energy vehicles (NEV) are getting
launched in the market the taxi owners are buying more NEVs, which is the major
driving factor for the NEV taxi market. Moreover, rising fuel prices and
consequently the rising rates of taxi fare are contributing to the growth of
the NEV taxi market. Furthermore, now-days people are more aware of the
pollution and green mobility, which in return will increase the demand for NEV
taxis. However, the current charging infrastructure is inadequate for the
proper operation of NEVs. Additionally, advancements in technology such as
connected cars and AI in transportation is anticipated to offer lucrative
opportunities for players in the NEV taxi market.
Among the
geographies, Asia-Pacific generated the highest revenue in the NEV taxi market,
accounting for the largest share in the market. The domination of the
Asia-Pacific region attributes to the high demand for cheap transportation and
the growing installation of charging stations in countries including China,
India, and Japan. Following Asia-Pacific, Europe held the second position in
the NEV taxi market, holding the second largest share in the market.
The report on
global NEV taxi market covers segments such as vehicle type, vehicle class, and
range. On the basis of vehicle type, the sub-markets include battery electric
vehicle, and hybrid electric vehicle. On the basis of vehicle class, the
sub-markets include hatchback, sedan, and UV. On the basis of range, the
sub-markets include intercity, and intra-city.
The report
provides profiles of the companies in the market such as Daimler AG, BMW AG,
Ford Motor Company, Honda Motor Co., Ltd., Volvo Group, Mahindra and Mahindra
Limited, TATA Motors, General Motors Company, Hyundai Motor Company, Tesla,
Inc., and Other Companies.
The report
provides deep insights into the demand forecasts, market trends, and micro and
macro indicators. In addition, this report provides insights into the factors
that are driving and restraining the growth in this market. Moreover, The
IGR-Growth Matrix analysis given in the report brings an insight into the
investment areas that existing or new market players can consider. The report
provides insights into the market using analytical tools such as Porter's five
forces analysis and DRO analysis of NEV taxi market. Moreover, the study
highlights current market trends and provides forecast from 2019-2025. We also
have highlighted future trends in the market that will affect the demand during
the forecast period. Moreover, the competitive analysis given in each regional
market brings an insight into the market share of the leading players.
Please Choose One of them.