NEV Taxi Market (NEV Type: Battery Electric Vehicle, Plug-in Hybrid Electric Vehicle, and Hybrid Electric Vehicle; Vehicle Sub-type: Hatchback, Sedan, and Utility Vehicle; Ownership: Company Owned and Individually Owned/ Private; Range Type: Intercity and Intra-city; and Vehicle Level: Entry & Mid-level and Premium) - Global Industry Analysis, Share ,Growth ,Regional Outlook And Forecasts, 2021-2027

The global NEV Taxi market gathered revenue around USD 28.7 Billion by the end of 2027 and is estimated to expand at a modest CAGR of 25.2% during the prediction period 2021 to 2027. NEV (New Energy Vehicle) taxi, also called electric taxi, is either fully or partially powered by electricity. The term ‘NEV’ is used by the Government of China for electric vehicles. Rising transportation pollution needs a complete solution that can curtail pollution, which is provided by a NEV taxi. The adoption of NEV taxi is also projected to reduce the running and maintenance cost of the taxi, which, in turn, is anticipated to propel the NEV taxi market during the forecast period.

Rise in concerns about tail pipe emissions has led the transportation regulatory authorities of various countries to enforce stringent laws end emission norms to control pollution levels. These regulatory transformations are encouraging automakers and customers to opt for environment-friendly vehicles, thus fueling the NEV taxi market across the globe.

Global automakers are reportedly launching newer battery electric vehicles and hybrid electric vehicle models. Ongoing technological advancements are at the core of this emergence of new vehicles. Availability of a variety of models in the market caters to varied demands for more number of people, thus increasing the adoption of NEV taxis.

This research report purposes at stressing the most lucrative growth prospects. The aim of the research report is to provide an inclusive valuation of the NEV Taxi market and it encompasses thoughtful visions, actualities, industry-validated market findings, historic data, and prognoses by means of appropriate set of assumptions and practice. Global NEV Taxi market report aids in comprehending market structure and dynamics by recognizing and scrutinizing the market sectors and predicted the global market outlook.

COVID-19 Impact Assessment on Market Landscape

The report comprises the scrutiny of COVID-19 lock-down impact on the income of market leaders, disrupters and followers. Since lock down was instigated differently in diverse regions and nations, influence of same is also dissimilar across various industry verticals. The research report offerspresent short-term and long-term influence on the market to assist market participants across value chain makers to formulate the framework for short term and long-lasting tactics for recovery and by region.

NEV Taxi market report  empower readers with all-inclusive market intelligence and offers a granular outline of the market they are operational in. Further this research study delivers exceptional combination of tangible perceptions and qualitative scrutiny to aid companies accomplish sustainable growth. This report employs industry-leading research practices and tools to assemble all-inclusive market studies, intermingled with pertinent data. Additionally, this report also emphases on the competitive examination of crucial players by analyzing their product portfolio, pricing, gross margins, financial position, growth approaches, and regional occurrence.

Segmentation of NEV Taxi Market

The global NEV taxi market has been segmented based on NEV type, ownership, vehicle sub-type, range type, vehicle level, and region

Based on NEV type, the hybrid electric vehicle segment accounted for a higher share of the market. This is majorly due to high demand for low emission vehicles coupled with government tax credit exemptions on their purchase. However, the battery electric vehicle segment is likely to expand at a significant growth rate during the forecast period, as the vehicle is zero-emission, does not emit pollution, and is less noisy.

Based on vehicle sub-type, hatchback is a highly attractive segment of the NEV taxi market. It is likely to expand and gain market share during the forecast period. Surge in demand for low travelling cost within cities has led to a higher rate of adoption of hatchback NEV taxis in mega cities. Availability of all-electric vehicles and their popularity in developing countries, owing to these vehicles being economical as compared to others, are other key factors that are boosting the hatchback segment of the market. Based on ownership, the company owned segment leads the global NEV taxi market. Leading causes of expansion of the segment are rising urbanization and technology advancements with app-based taxi or cab booking, which enables company-owned taxis to offer services all around.

NEV Taxi Market: Regional Analysis

Based on region, the global NEV taxi market has been segregated into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa

Asia Pacific accounted for a major share of the global NEV taxi market. Rising demand for electric vehicles in China and Japan, supplemented with availability of electric charging stations is promoting the adoption of NEV taxi in the country. Furthermore, in China, electric vehicles have been the top priority for the auto industry. Moreover, massive installation of charging stations are being carried out coupled with additional tax credits and incentives by the government to adopt NEV taxis to reduce emission levels in the country. These factors are boosting the NEV taxi market in China. China is considered as a leading market for NEV taxi, globally, and it is likely to remain a prominent market during the forecast period. Furthermore, announcement by the Government of India to switch to electric taxis in major cities of the country is also projected to boost the regional market. These factors are likely to boost the NEV taxi market in Asia Pacific during the forecast period.

Competitive Rivalry

Foremost players in the market are attentive on adopting corporation strategies to enhance their market share. Some of the prominent tactics undertaken by leading market participants in order to sustain the fierce market completion include collaborations, acquisitions, substantial spending in R&D and the improvement of new-fangled products or reforms among others.

Significant Market Participants Operational in the NEV Taxi Market are:

The global NEV taxi market include Daimler AG, AB Volvo, BYD Auto Co., Ltd., Mahindra and Mahindra Limited, Toyota Motor Corporation, BMW AG, Ford Motor Company, Honda Motor Co., Ltd., TATA Motors, Nissan Motor Corporation, Volkswagen, General Motors Company, Hyundai Motor Company, London Electric Vehicle Company, BAIC Motor Corporation., Ltd, Changan Automobile Company Limited., Beiqi Foton Motor Co., Ltd., JAC Motors, Tesla, Inc., and Groupe Renault.

Unravelling the Critical Segments

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects includingproduct type, application/end-user, and region. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for period 2017 to 2030 and covers subsequent region in its scope:

Global NEV Taxi Market: Segmentation

• NEV Taxi Market, by NEV Type
• Battery Electric Vehicle
• Plug-in Hybrid Electric Vehicle
• Hybrid Electric Vehicle
• NEV Taxi Market, by Vehicle Sub-type
• Hatchback
• Sedan
• Utility Vehicle
• NEV Taxi Market, by Ownership
• Company Owned
• Individually Owned/Private
• NEV Taxi Market, by Range Type
• Intercity
• Intra-city
• NEV Taxi Market, by Vehicle Level
• Entry & Mid-level
• Premium

By Regional Outlook

North America

• United States
• Canada

Europe

• Germany
• United Kingdom
• Italy
• France
• Rest of EU

Asia Pacific

• China
• India
• Japan
• Southeast Asia
• Rest of APAC

Central & South America

• Brazil
• Argentina
• Rest of Central & South America

Middle East and Africa

• GCC
• North Africa
• South Africa

Key Benefits For Stakeholders

• The study provides an in-depth analysis of the NEV Taxi market, and the current trends and future estimations to elucidate imminent investment pockets.
• It presents a quantitative analysis of the market from 2021 to 2027 to enable stakeholders to capitalize on the prevailing  NEV Taxi market opportunities.
• Extensive analysis of the market based on procedures and services assists to understand the trends in the industry.
• Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the NEV Taxi market.

The study objectives of this report are:

• To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2027);
• Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
• Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
• To define, describe and forecast the market by type, application and region.
• To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
• To identify significant trends and factors driving or inhibiting the market growth.
• To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
• To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
• To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
• To strategically profile the key players and comprehensively analyze their growth strategies.