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Global NEV Taxi Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Vehicle Type (Battery Electric, Plug-in Hybrid Electric, Fuel Cell) And By Geography - Forecasts From 2020 To 2025

Published: May 2021 | Report Code:  KSI061613158 | Pages:  130

Global NEV Taxi market is projected to grow at a CAGR of 29.69% during the forecast period, to reach a market size of US$55.558 billion in 2025 from US$11.674 billion in 2019. NEV Taxis are new energy vehicles, which are partially or fully powered by electricity like Battery Electric Vehicles (BEVs) and Plug-in Hybrids (PHEVs).

NEV taxis require low maintenance, reduce air pollution, and have low running costs. Environmental regulations in developed and developing countries are focusing on reducing individual vehicle emissions. An electric vehicle may be powered through a collector system by electricity from off-vehicle sources or may be self-contained with a battery, solar panels, or an electric generator to convert fuel to electricity. Electric cars are coming up as a more sustainable mode of commuting around the world. Manufacturers in the automobile industry are shifting towards making a sustainable vehicle that has huge demand in the coming years. A lot of companies are coming up with new launches in the electric vehicle segment to take the lead in the market. New Energy Vehicle (NEV) Taxi market is segmented on the basis of vehicle type and geography. By vehicle type, the NEV Taxi market is segmented as battery electric vehicle, plug-in hybrid electric vehicle, and fuel cell vehicle.

Market Drivers

Road transportation is one of the major sources of greenhouse effects and rising temperatures around the world. Transport is a major user of energy and burns most of the world’s petroleum. The rapid increase in air pollution, stringent laws, and regulations implemented by the government are driving factors for the NEV taxi market. Environmental regulations in developed and developing countries are focusing on reducing individual vehicle emissions. NEV taxis reduce the travel cost and with more upcoming charging stations for electric vehicles the demand for NEV taxis is growing. Electric vehicles are coming up as a more sustainable mode of commuting in the future Electric vehicles are working as an alternative to run vehicles by petrol and diesel as the result of saving fossil fuels from depletion. The increasing investment in research and development by market players coupled with growing government support and initiatives is expected to drive the growth of the electric sports car market.

By Geography Type

Regionally the NEV taxis market is classified into North America, South America, Europe, Middle East, and Africa, and the Asia Pacific The report also analyses major countries across these regions with complete analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers. China is a major market for NEV taxis as the country has been installing a lot of charging stations for electric vehicles and is even providing incentives to increase the NEV taxi fleet. These steps are been taken by China for cutting down emissions levels in the country. These steps by China will boost the market in the APAC region in the forecast period.

Global NEV Taxi Market Scope:

Report Metric Details
 Market size value in 2019  US$11.674 billion
 Market size value in 2025  US$55.558 billion
 Growth Rate  CAGR of 29.69% from 2019 to 2025
 Base year  2019
 Forecast period  2020–2025
 Forecast Unit (Value)  USD Billion
 Segments covered  Vehicle Type, And Geography
 Regions covered  North America, South America, Europe, Middle East and Africa, Asia Pacific
 Companies covered  BYD Motors Inc., Nissan, Beijing Electric Vehicle Co. (BJEV), Beiqi Foton Motor Co.   Ltd., Changan Automobile Co. Ltd., *list is not exhaustive
 Customization scope  Free report customization with purchase

 

Segmentation

The NEV (New Energy Vehicle) Taxi market is segmented by vehicle type and geography.

  • By Vehicle Type
    • Battery Electric Vehicle (BEV)
    • Plug-in hybrid Electric Vehicle (PHEV)
    • Fuel Cell Vehicle (FCV)
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • France
      • United Kingdom
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • Israel
      • UAE
      • Others
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • India
      • Others

Frequently Asked Questions (FAQs)

Q1. What is the size of Global NEV Taxi Market?
A1. The Global NEV Taxi Market was valued at US$11.674 billion in the year 2019.
 
Q2. What will be the NEV Taxi Market size by 2025?
A2. The NEV Taxi Market is expected to reach a market size of US$55.558 billion by 2025.
 
Q3. What are the growth prospects for NEV Taxi Market?
A3. NEV Taxi Market is expected to grow at a CAGR of 29.69% over the forecast period.
 
Q4. How is the Global NEV Taxi Market segmented?
A4. The Global NEV Taxi Market has been segmented by vehicle type and geography.
 
Q5. What is the base year considered in the Global NEV Taxi Market report?
A5.  2019 has been taken as the base year in the Global NEV Taxi Market.

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