The latest report on NEV Taxi Market by Infinium Global Research gives complete coverage of the NEV Taxi Market by in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and applications trends in the regional markets of NEV Taxi such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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The Car Makers have Shifted Their Focus from Fuel-Powered Vehicles to Hybrid and Electric Vehicles
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.
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“We have Decided to Extend our Support to the Industry on Account of Corona Outbreak by Offering Flat Discount 30% on All Our Studies and Evaluation of the Market Dynamics in Global on NEV Taxi Market Amidst COVID-19.”
Rising Fuel Prices and Consequently the Rising Rates of Taxi Fare are Contributing to the Growth of the NEV Taxi Industry
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.
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- Comprehensive analysis of global as well as regional markets of the NEV Taxi.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
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- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.