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Global New Energy Vehicle (NEV) Taxi Market to Grow at a CAGR of 1.8% During the Period 2024-2032, Driven by Growing Consumer Interest in New Energy Vehicles (NEVs)

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Global New Energy Vehicle (NEV) Taxi Market Size, Forecast: By Type: Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), Hybrid Electric Vehicle (HEV); By Range: Intercity, Intra-city; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032

Global New Energy Vehicle (NEV) Taxi Market Outlook

The global New Energy Vehicle (NEV) Taxi market is expected to grow at a CAGR of 1.8% during the period 2024-2032. Electrification of transport would be a key element in checking global carbon dioxide emissions. Several countries are continually making efforts towards widespread electric vehicle adoption, and investing in required infrastructure.

The Chinese government has formulated multiple policies to promote the new energy vehicle (NEV) industry. North America, Europe and Asia are likely to be key markets.

new-energy-vehicle-nev-taxi-market

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Global Market Likely to be Driven by the Need to Reduce Emissions

The new energy vehicle (NEV) industry witnessed significant growth in 2021. Such growth has made new energy vehicles (NEVs) a lucrative proposition for conventional vehicle manufacturers, emergent new energy vehicle (NEV) companies, and tech giants, making them compete for software R&D, new business models, and branding. The new energy vehicle (NEV) industry has been witnessing significant investment, with nearly $400 billion being invested into the sector over the last decade. Robust global growth and prosperous development have drawn the interest of vehicle manufacturers, rising new energy vehicle (NEV) companies, and tech players.

Growing Adoption of New Energy Likely to Stimulate Market Growth

Countries across the world are looking to adopt new energy as a strategic development direction and contribute towards the green transformation of the automotive sector. The European Union, for example, has committed to decrease greenhouse gas emissions by at least 55% by 2030. USA seeks to make half of all cars new energy vehicle (NEVs) by 2030. Changing climate, policy regulations, and factors including an ageing global population, carbon emissions, increasing urbanisation, growing middle-class and increasing wealth gap are likely drivers of new energy vehicle (NEVs).

Advancements in technology, growing adoption of key technologies, and increasing consumer interest in new energy vehicles (NEVs) are vital drivers of the global new energy vehicle (NEV) taxi market. Technological advances are expected to further decrease the production cost for electric vehicles. Further, a balance could be expected in demand and supply with better customer recognition and enhanced manufacturing capacities.

Electronics, Software, Algorithm Development, and Intelligence and Technology are Factors Expected to Influence Market Growth

Electronics and software are important parts of vehicles today. As compared to conventional vehicle producers, emergent new energy vehicle (NEV) manufacturers have greater software capabilities; such companies focus greatly on R&D, software algorithm development and electronic components. Moreover, many executives in these companies are originally from technology or internet companies. With advancements in the Internet, cars have been pushed beyond their purpose of just mobility; green technologies, intelligence and technology, enhanced charging facilities, and range capabilities are likely to be key areas of concern for new energy vehicle (NEV) brands in times to come. These factors are expected to drive the global new energy vehicle (NEV) taxi market.

new-energy-vehicle-nev-taxi-market-by-segmentation

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Market Segmentation

By type, the market is segmented into:

Battery Electric Vehicle (BEV)

Plug-In Hybrid Electric Vehicle (PHEV)

Hybrid Electric Vehicle (HEV)

By range, the market is classified into:

Intercity

Intra-city

By region, the market is divided into:

North America

Europe

Asia Pacific

Latin America

Middle East and Africa

new-energy-vehicle-nev-taxi-market-by-region

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Key Industry Players in the Market

The report presents a detailed analysis of the following key players in the global New Energy Vehicle (NEV) Taxi market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

Uber Technologies Inc.

Lyft Inc.

Electric Cab North America

Blu-Smart Mobility Pvt. Ltd.

London EV Company Ltd.

Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

Key Highlights of the Report

REPORT FEATURES	DETAILS
Base Year	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Scope of the Report	Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment: Type Range Region
Breakup by Type	Battery Electric Vehicle (BEV) Plug-In Hybrid Electric Vehicle (PHEV) Hybrid Electric Vehicle (HEV)
Breakup by Range	Intercity Intra-city
Breakup by Region	North America United States of America Canada Europe United Kingdom Germany France Italy Others Asia Pacific China Japan India ASEAN Australia Others Latin America Brazil Argentina Mexico Others Middle East and Africa Saudi Arabia United Arab Emirates Nigeria South Africa Others
Market Dynamics	SWOT Analysis Porter's Five Forces Analysis Key Indicators for Demand Key Indicators for Price
Competitive Landscape	Market Structure Company Profiles Company Overview Product Portfolio Demographic Reach and Achievements Certifications
Companies Covered	Uber Technologies Inc. Lyft Inc. Electric Cab North America Blu-Smart Mobility Pvt. Ltd. London EV Company Ltd. Others

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1   Preface
2   Report Coverage – Key Segmentation and Scope
3   Report Description
   3.1   Market Definition and Outlook
   3.2   Properties and Applications
   3.3   Market Analysis
   3.4   Key Players
4   Key Assumptions
5   Executive Summary
   5.1   Overview
   5.2   Key Drivers
   5.3   Key Developments
   5.4   Competitive Structure
   5.5   Key Industrial Trends
6   Market Snapshot
   6.1   Global
   6.2   Region
7   Opportunities and Challenges in the Market
8   Global New Energy Vehicle (NEV) Taxi Market Analysis
   8.1   Key Industry Highlights
   8.2   Global New Energy Vehicle (NEV) Taxi Historical Market (2018-2023)
   8.3   Global New Energy Vehicle (NEV) Taxi Market Forecast (2024-2032)
   8.4   Global New Energy Vehicle (NEV) Taxi Market by Type
       8.4.1   Battery Electric Vehicle (BEV)
           8.4.1.1 Historical Trend (2018-2023)
           8.4.1.2 Forecast Trend (2024-2032)
       8.4.2   Plug-In Hybrid Electric Vehicle (PHEV)
           8.4.2.1 Historical Trend (2018-2023)
           8.4.2.2 Forecast Trend (2024-2032)
       8.4.3   Hybrid Electric Vehicle (HEV)
           8.4.3.1 Historical Trend (2018-2023)
           8.4.3.2 Forecast Trend (2024-2032)
   8.5   Global New Energy Vehicle (NEV) Taxi Market by Range
       8.5.1   Intercity
           8.5.1.1 Historical Trend (2018-2023)
           8.5.1.2 Forecast Trend (2024-2032)
       8.5.2   Intra-city
           8.5.2.1 Historical Trend (2018-2023)
           8.5.2.2 Forecast Trend (2024-2032)
   8.6   Global New Energy Vehicle (NEV) Taxi Market by Region
       8.6.1   North America
           8.6.1.1 Historical Trend (2018-2023)
           8.6.1.2 Forecast Trend (2024-2032)
       8.6.2   Europe
           8.6.2.1 Historical Trend (2018-2023)
           8.6.2.2 Forecast Trend (2024-2032)
       8.6.3   Asia Pacific
           8.6.3.1 Historical Trend (2018-2023)
           8.6.3.2 Forecast Trend (2024-2032)
       8.6.4   Latin America
           8.6.4.1 Historical Trend (2018-2023)
           8.6.4.2 Forecast Trend (2024-2032)
       8.6.5   Middle East and Africa
           8.6.5.1 Historical Trend (2018-2023)
           8.6.5.2 Forecast Trend (2024-2032)
9   North America New Energy Vehicle (NEV) Taxi Market Analysis
   9.1   United States of America
       9.1.1 Historical Trend (2018-2023)
       9.1.2 Forecast Trend (2024-2032)
   9.2   Canada
       9.2.1 Historical Trend (2018-2023)
       9.2.2 Forecast Trend (2024-2032)
10   Europe New Energy Vehicle (NEV) Taxi Market Analysis
   10.1   United Kingdom
       10.1.1 Historical Trend (2018-2023)
       10.1.2 Forecast Trend (2024-2032)
   10.2   Germany
       10.2.1 Historical Trend (2018-2023)
       10.2.2 Forecast Trend (2024-2032)
   10.3   France
       10.3.1 Historical Trend (2018-2023)
       10.3.2 Forecast Trend (2024-2032)
   10.4   Italy
       10.4.1 Historical Trend (2018-2023)
       10.4.2 Forecast Trend (2024-2032)
   10.5   Others
11   Asia Pacific New Energy Vehicle (NEV) Taxi Market Analysis
   11.1   China
       11.1.1 Historical Trend (2018-2023)
       11.1.2 Forecast Trend (2024-2032)
   11.2   Japan
       11.2.1 Historical Trend (2018-2023)
       11.2.2 Forecast Trend (2024-2032)
   11.3   India
       11.3.1 Historical Trend (2018-2023)
       11.3.2 Forecast Trend (2024-2032)
   11.4   ASEAN
       11.4.1 Historical Trend (2018-2023)
       11.4.2 Forecast Trend (2024-2032)
   11.5   Australia
       11.5.1 Historical Trend (2018-2023)
       11.5.2 Forecast Trend (2024-2032)
   11.6   Others
12   Latin America New Energy Vehicle (NEV) Taxi Market Analysis
   12.1   Brazil
       12.1.1 Historical Trend (2018-2023)
       12.1.2 Forecast Trend (2024-2032)
   12.2   Argentina
       12.2.1 Historical Trend (2018-2023)
       12.2.2 Forecast Trend (2024-2032)
   12.3   Mexico
       12.3.1 Historical Trend (2018-2023)
       12.3.2 Forecast Trend (2024-2032)
   12.4   Others
13   Middle East and Africa New Energy Vehicle (NEV) Taxi Market Analysis
   13.1   Saudi Arabia
       13.1.1 Historical Trend (2018-2023)
       13.1.2 Forecast Trend (2024-2032)
   13.2   United Arab Emirates
       13.2.1 Historical Trend (2018-2023)
       13.2.2 Forecast Trend (2024-2032)
   13.3   Nigeria
       13.3.1 Historical Trend (2018-2023)
       13.3.2 Forecast Trend (2024-2032)
   13.4   South Africa
       13.4.1 Historical Trend (2018-2023)
       13.4.2 Forecast Trend (2024-2032)
   13.5   Others
14   Market Dynamics
   14.1   SWOT Analysis
       14.1.1   Strengths
       14.1.2   Weaknesses
       14.1.3   Opportunities
       14.1.4   Threats
   14.2   Porter’s Five Forces Analysis
       14.2.1   Supplier’s Power
       14.2.2   Buyer’s Power
       14.2.3   Threat of New Entrants
       14.2.4   Degree of Rivalry
       14.2.5   Threat of Substitutes
   14.3   Key Indicators for Demand
   14.4   Key Indicators for Price
15   Competitive Landscape
   15.1   Market Structure
   15.2   Company Profiles
       15.2.1   Uber Technologies Inc.
           15.2.1.1   Company Overview
           15.2.1.2   Product Portfolio
           15.2.1.3   Demographic Reach and Achievements
           15.2.1.4   Certifications
       15.2.2   Lyft Inc.
           15.2.2.1   Company Overview
           15.2.2.2   Product Portfolio
           15.2.2.3   Demographic Reach and Achievements
           15.2.2.4   Certifications
       15.2.3   Electric Cab North America
           15.2.3.1   Company Overview
           15.2.3.2   Product Portfolio
           15.2.3.3   Demographic Reach and Achievements
           15.2.3.4   Certifications
       15.2.4   Blu-Smart Mobility Pvt. Ltd.
           15.2.4.1   Company Overview
           15.2.4.2   Product Portfolio
           15.2.4.3   Demographic Reach and Achievements
           15.2.4.4   Certifications
       15.2.5   London EV Company Ltd.
           15.2.5.1   Company Overview
           15.2.5.2   Product Portfolio
           15.2.5.3   Demographic Reach and Achievements
           15.2.5.4   Certifications
       15.2.6   Others
16   Key Trends and Developments in the Market

List of Key Figures and Tables

1.   Global New Energy Vehicle (NEV) Taxi Market: Key Industry Highlights, 2018 and 2032
2.   Global New Energy Vehicle (NEV) Taxi Historical Market: Breakup by Type (USD Million), 2018-2023
3.   Global New Energy Vehicle (NEV) Taxi Market Forecast: Breakup by Type (USD Million), 2024-2032
4.   Global New Energy Vehicle (NEV) Taxi Historical Market: Breakup by Range (USD Million), 2018-2023
5.   Global New Energy Vehicle (NEV) Taxi Market Forecast: Breakup by Range (USD Million), 2024-2032
6.   Global New Energy Vehicle (NEV) Taxi Historical Market: Breakup by Region (USD Million), 2018-2023
7.   Global New Energy Vehicle (NEV) Taxi Market Forecast: Breakup by Region (USD Million), 2024-2032
8.   North America New Energy Vehicle (NEV) Taxi Historical Market: Breakup by Country (USD Million), 2018-2023
9.   North America New Energy Vehicle (NEV) Taxi Market Forecast: Breakup by Country (USD Million), 2024-2032
10.   Europe New Energy Vehicle (NEV) Taxi Historical Market: Breakup by Country (USD Million), 2018-2023
11.   Europe New Energy Vehicle (NEV) Taxi Market Forecast: Breakup by Country (USD Million), 2024-2032
12.   Asia Pacific New Energy Vehicle (NEV) Taxi Historical Market: Breakup by Country (USD Million), 2018-2023
13.   Asia Pacific New Energy Vehicle (NEV) Taxi Market Forecast: Breakup by Country (USD Million), 2024-2032
14.   Latin America New Energy Vehicle (NEV) Taxi Historical Market: Breakup by Country (USD Million), 2018-2023
15.   Latin America New Energy Vehicle (NEV) Taxi Market Forecast: Breakup by Country (USD Million), 2024-2032
16.   Middle East and Africa New Energy Vehicle (NEV) Taxi Historical Market: Breakup by Country (USD Million), 2018-2023
17.   Middle East and Africa New Energy Vehicle (NEV) Taxi Market Forecast: Breakup by Country (USD Million), 2024-2032
18.   Global New Energy Vehicle (NEV) Taxi Market Structure.

Key Questions Answered in the Report

What is the growth rate of the global new energy vehicle (NEV) taxi market?

The market is estimated to grow at a CAGR of 1.8% between 2024 and 2032.

What are the major regional markets of the new energy vehicle (NEV) taxi, according to the EMR report?

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What is an electric vehicle?

An electric vehicle is a one of the most popular types of new energy vehicle which is powered by electricity.

What is the future of new energy vehicles in the emerging economies?

The future of new energy vehicles is promising as these vehicles are easy to operate, along with the on-going technological advancements in the battery technology. The favourable government policies encouraging the electrification of vehicles are further propelling the market scope.

What are the major industry drivers?

The major drivers of the market include the cost-savings and efficiency offered by the product, growing innovations by the tech-giants, and thriving automotive industry across the emerging economies.

What are the key industry trends of the global new energy vehicle (NEV) taxi market?

The transition towards smart mobile applications such as Ola and Uber and the growing need to reduce emissions are the key trends in the market.

What are the different segments based on type in the market?

Battery electric vehicle (BEV), plug-in hybrid electric vehicle (PHEV), and hybrid electric vehicle (HEV) are the different segments based on type in the market.

What is the segmentation of the market based on range?

Intercity and Intra-city is the segmentation of the market based on range.

Who are the key industry players, according to the report?

The major players in the industry are Uber Technologies Inc., Lyft Inc., Electric Cab North America, Blu-Smart Mobility Pvt. Ltd., and London EV Company Ltd., among others.

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