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New Energy Vehicle (NEV) Taxi Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2022-2030

Published Date: December, 2022
No of Pages: 164
Delivery Format: PDF+ Excel

$2,950.00

New Energy Vehicle (NEV) Taxi Market
1. The current state of the NEV taxi market
The current state of the NEV taxi market is quite strong. In terms of market share, NEV taxis account for about 3% of the taxi market in China. This is a significant increase from just 0.6% in 2016. The leading NEV taxi companies are Shenzhen-based BYD and Geely’s Zhongshan-based Kandi.

The Chinese government has been supportive of the NEV taxi industry and has provided various subsidies and incentives to encourage the uptake of NEV taxis. For instance, in 2017, the government provided a subsidy of up to RMB 60,000 (US$9,360) per NEV taxi. This was followed by another subsidy in 2018 of up to RMB 100,000 (US$15,600) per NEV taxi. As a result of these subsidies, the cost of operating an NEV taxi has been reduced significantly, making it more competitive with traditional petrol and diesel taxis.

The strong growth of the NEV taxi market is also attributable to the fact that many cities in China have implemented policies to promote the use of NEV taxis. For instance, in Shenzhen, all newly licensed taxis must be NEVs. In addition, a number of cities have introduced NEV-only taxi lanes and parking spaces, as well as preferential policies on tolls and licensing fees.

The NEV taxi market is expected to continue to grow in the coming years. This is due to the continued support from the Chinese government as well as the introduction of more policies and incentives to promote the use of NEV taxis.

2. The benefits of NEV taxis
The taxi industry is one of the most important pillars of the transportation sector. It plays a significant role in meeting the travel needs of people in urban areas. In recent years, the taxi industry has been under pressure due to the rise of new technologies and the emergence of new transportation options such as ride-hailing and car-sharing services. To stay competitive, many taxi companies have turned to new energy vehicles (NEVs) as a way to improve their service and offer a more sustainable option for customers.

NEVs offer a number of benefits for taxi companies. First, they are more environmentally friendly than traditional gasoline-powered vehicles. This is important for two reasons. First, it helps taxi companies meet their corporate social responsibility goals. Second, it helps them appeal to customers who are increasingly conscious of the environmental impact of their travel choices.

Second, NEVs are more efficient than traditional gasoline-powered vehicles, which means they can save taxi companies money on fuel costs. This is especially important given the high cost of gasoline in many urban areas.

Third, NEVs can help taxi companies improve their image and brand. This is because NEVs are often seen as being more modern and forward-thinking than traditional taxis. This can help taxi companies attract new customers and retain existing ones.

Fourth, NEVs offer a number of safety benefits for both drivers and passengers. This is because NEVs are often equipped with advanced safety features such as airbags and electronic stability control. This can help to reduce the number of accidents and injuries that occur in taxis.

Finally, NEVs can help taxi companies to meet future regulations. This is because many cities are starting to implement regulations that favor NEVs over traditional gasoline-powered vehicles. This is likely to become even more common in the future, which means that taxi companies that don’t make the switch to NEVs will be at a competitive disadvantage.

Overall, there are many reasons why taxi companies should consider making the switch to NEVs. NEVs offer a number of benefits that can help taxi companies to improve their service, save money, and meet future regulations.

3. The challenges of NEV taxis
The development of NEV taxis is a new and exciting area of the transportation industry, and it comes with its own set of challenges. One of the biggest challenges is the infrastructure required to support these vehicles. NEV taxis need to be able to charge their batteries quickly and efficiently, and they also need access to reliable and robust data networks.

Another challenge is the cost of these vehicles. NEV taxis are still relatively new, and the cost of the batteries and other components can be quite high. This means that NEV taxi companies need to find ways to offset these costs, either through government subsidies or through creative business models.

Finally, NEV taxis also need to overcome the “range anxiety” that many drivers feel. This is the fear that the vehicle will not have enough charge to reach its destination. This is a valid concern, but it is one that NEV taxi companies are working hard to address. They are developing new battery technologies and working with government agencies to create more charging infrastructure.

Overall, the challenges of NEV taxis are significant but surmountable. With the right policies and infrastructure in place, NEV taxis could become a major force in the transportation industry.

4. The future of the NEV taxi market
The New Energy Vehicle (NEV) Taxi Market is still in its early stages of development and is expected to grow rapidly in the next few years. Currently, there are a limited number of NEV taxis operating in a few cities around the world. However, this is expected to change in the near future as the demand for NEV taxis is expected to increase significantly.

The main reason for the expected growth in the NEV taxi market is the increasing awareness of the environmental benefits of NEVs. As more people become aware of the harmful emissions from traditional petrol and diesel vehicles, they are increasingly opting for NEV taxis. In addition, the running costs of NEV taxis are also expected to be lower than traditional taxis, making them more attractive to both taxi operators and passengers.

Another factor that is expected to boost the growth of the NEV taxi market is the increasing number of countries and cities that are introducing policies and regulations to promote the use of NEVs. These policies and regulations are expected to create a favourable environment for the growth of the NEV taxi market.

Some of the key players in the NEV taxi market include BYD Company Limited, Geely Automobile Holdings Limited, and Tesla, Inc.

The report provides a comprehensive analysis of the industry by providing the estimates of market size for the period from 2019 to 2025. The report also provides the compound annual growth rate (CAGR) for the forecast period. The research study includes a detailed segmentation of the market by vehicle type, application, and geography.

The report includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and their financial performance.

LIST OF KEY COMPANIES PROFILED:

    • Tesla Inc., (California, United States)
    • BYD (Shenzhen, China)
    • Anhui Jianghuai Automobile Co Ltd (JAC) (Hefei, China)
    • Uber Technologies (California, United States)
    • Daimler AG (Stuttgart, Germany)
    • Beijing Automotive Industry Holding Co. Ltd. (BAIC) (Beijing, China)
    • Lyft Inc., (California, United States)
    • Baidu (Beijing, China)
    • Didi Chuxing (Beijing, China)
    • Amazon (Washington, United States)
    • JAC Motors (Hefei, China)

Report Scope & Segmentation

 

  ATTRIBUTE

 

 

DETAILS

 

 

Study Period

 

 

2016-2027

 

 

Base Year

 

 

2019

 

 

Forecast Period

 

 

2020-2027

 

 

Historical Period

 

 

2016-2018

 

 

Unit

 

 

Value (USD billion) & Volume (Thousand units)

 

 

Segmentation

 

 

By Vehicle Type  

 

    • Passenger Cars

 

    • Commercial Vehicles

 

 

 

By Type

 

    • Battery Electric Vehicles

 

    • Hybrid Vehicles

 

    • Plug-in Hybrid Electric Vehicles

 

 

 

By Geography

 

    • North America (The U.S., Canada, and Mexico)

 

    • Europe (The U.K., Germany, France, and Rest of Europe)

 

    • Asia Pacific (Japan, China, India, South Korea, and Rest of Asia Pacific)

 

    • Rest of the World

 

 

 

By Vehicle Type  

 

    • Passenger Cars

 

    • Commercial Vehicles

 

 

 

By Type

 

    • Battery Electric Vehicles

 

    • Hybrid Vehicles

 

    • Plug-in Hybrid Electric Vehicles

 

 

    • Tesla Inc., (California, United States)
    • BYD (Shenzhen, China)
    • Anhui Jianghuai Automobile Co Ltd (JAC) (Hefei, China)
    • Uber Technologies (California, United States)
    • Daimler AG (Stuttgart, Germany)
    • Beijing Automotive Industry Holding Co. Ltd. (BAIC) (Beijing, China)
    • Lyft Inc., (California, United States)
    • Baidu (Beijing, China)
    • Didi Chuxing (Beijing, China)
    • Amazon (Washington, United States)
    • JAC Motors (Hefei, China)

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