Pune, May 19, 2023 (GLOBE NEWSWIRE) -- According to SNS Insider, "The New Energy Vehicle (NEV) Taxi Market was worth USD 50.68 billion in 2022, and it is projected to grow at a compound annual growth rate (CAGR) of 28% during the forecast period of 2023 to 2030, reaching a value of USD 365.24 billion".
Market Report Scope
New Energy Vehicle (NEV) Taxi is a type of taxi that runs on electricity or other forms of clean energy, such as hydrogen or natural gas. These vehicles are becoming increasingly popular due to the rising concern for the environment and the need to reduce carbon emissions. NEV taxis offer a sustainable solution to urban transportation while also providing a comfortable and convenient ride for passengers. NEV taxis typically have zero or low-emission engines, which makes them environmentally friendly and a great choice for eco-conscious consumers.
Market Analysis
The global new energy vehicle (NEV) taxi market is experiencing tremendous growth driven by advancements in technology, increasing adoption of key technologies, and rising consumer interest in NEVs. As the world becomes more environmentally conscious, the demand for electric vehicles is increasing, and this trend is expected to continue in the coming years. One of the key drivers of the growth in the NEV taxi market is technological advancements. The development of more efficient and cost-effective battery technology is making electric vehicles more affordable and accessible to consumers.
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Impact of Recession
The impact of a recession on the new energy vehicle (NEV) taxi market is complex and multifaceted. While there are potential challenges, such as reduced demand and financing difficulties, there are also opportunities for growth due to the lower cost of operation and government incentives. The long-term success of the NEV taxi market will depend on its ability to weather economic downturns and continue to innovate and adapt to changing market conditions.
New Energy Vehicle (NEV) Taxi Market Report Scope:
| Report Attributes | Details |
| Market Size by 2030 | US$ 365.24 Billion |
| CAGR | CAGR of 28% From 2023 to 2030 |
| Key Segments | • by Vehicle Type (Plug-in hybrid electric vehicle, Battery electric vehicle, Hybrid electric vehicle) • by Range Type (Intercity, Intracity) • by Vehicle Class (Hatchback, Sedan, Utility Vehicle) |
| Regional Analysis | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Tesla, Inc., Dongfeng Nissan Passenger Vehicle Company, BYD Company, Daimler AG, Nissan Motor Corporation, Jianghuai Automobile Co Ltd (JAC), Toyota Motor Corporation, Amazon (Washington), Changan Automobile Co. Ltd, Lyft Inc., Beijing Automotive, Anhui, Uber Technologies, Industry Holding Co. Ltd. (BAIC), and Beiqi Foton Motor Co. Ltd |
| Market Drivers |
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| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
Key Regional Development
The global automotive industry is undergoing a significant transformation as the focus shifts towards electric and sustainable mobility. The emergence of new energy vehicles (NEVs) is expected to revolutionize the way we travel, and the taxi industry is no exception. With the growing awareness of environmental concerns and the need to reduce carbon emissions, NEV taxis are increasingly becoming a popular mode of transportation in many cities around the world. According to market research, North America and Europe are expected to take the lead in the new energy vehicle (NEV) taxi market. The stringent government regulations and incentives in these regions are encouraging the adoption of NEV taxis.
Key Takeaway from New Energy Vehicle (NEV) Taxi Market Study
- The plug-in hybrid electric vehicle segment is expected to dominate the market in the coming years, as taxi operators and drivers increasingly turn to these vehicles for their lower operating costs, longer driving ranges, and government incentives.
- The hatchback segment is poised to dominate the market, thanks to their efficiency, maneuverability, versatility, and affordability. As the world transitions to a more sustainable future, hatchbacks offer a practical and cost-effective solution for taxi services looking to reduce their environmental impact and improve the quality of life for their customers.
Recent Developments Related to New Energy Vehicle (NEV) Taxi Market
- Chinese ride-hailing giant Didi Chuxing has announced that it will be launching robotaxi services, marking a major step towards the deployment of autonomous vehicles in the country. Didi, which is one of the world's largest ride-hailing companies, has been investing heavily in autonomous driving technology and has been conducting extensive testing on public roads.
- A Chinese-made two-seater "flying car" completed its first public flight in Dubai, marking a significant milestone for the growing field of autonomous aerial vehicles. The vehicle, known as the EHang 216, is a drone-like aircraft capable of carrying two passengers up to 35 kilometers at a cruising altitude of 300 meters.
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Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global New Energy Vehicle (NEV) Taxi Market Segmentation, by Vehicle Type
9. Global New Energy Vehicle (NEV) Taxi Market Segmentation, by Range Type
10. Global New Energy Vehicle (NEV) Taxi Market Segmentation, by Vehicle Class
11. Regional Analysis
12. Company Profiles
13. Competitive Landscape
14. Conclusion
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