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Global New Energy Vehicle (NEV) Taxi Market: By Type: Battery Electric Vehicle (BEV), Plug-In Hybrid Electric Vehicle (PHEV), Hybrid Electric Vehicle (HEV); By Range: Intercity, Intra-city; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments
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 2023-2028. 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.
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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.
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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
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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 | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Range |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*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 (2018-2022)
8.3 Global New Energy Vehicle (NEV) Taxi Market Forecast (2023-2028)
8.4 Global New Energy Vehicle (NEV) Taxi Market by Type
8.4.1 Battery Electric Vehicle (BEV)
8.4.1.1 Historical Trend (2018-2022)
8.4.1.2 Forecast Trend (2023-2028)
8.4.2 Plug-In Hybrid Electric Vehicle (PHEV)
8.4.2.1 Historical Trend (2018-2022)
8.4.2.2 Forecast Trend (2023-2028)
8.4.3 Hybrid Electric Vehicle (HEV)
8.4.3.1 Historical Trend (2018-2022)
8.4.3.2 Forecast Trend (2023-2028)
8.5 Global New Energy Vehicle (NEV) Taxi Market by Range
8.5.1 Intercity
8.5.1.1 Historical Trend (2018-2022)
8.5.1.2 Forecast Trend (2023-2028)
8.5.2 Intra-city
8.5.2.1 Historical Trend (2018-2022)
8.5.2.2 Forecast Trend (2023-2028)
8.6 Global New Energy Vehicle (NEV) Taxi Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2022)
8.6.1.2 Forecast Trend (2023-2028)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2022)
8.6.2.2 Forecast Trend (2023-2028)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2022)
8.6.3.2 Forecast Trend (2023-2028)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2022)
8.6.4.2 Forecast Trend (2023-2028)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2022)
8.6.5.2 Forecast Trend (2023-2028)
9 North America New Energy Vehicle (NEV) Taxi Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe New Energy Vehicle (NEV) Taxi Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific New Energy Vehicle (NEV) Taxi Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America New Energy Vehicle (NEV) Taxi Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa New Energy Vehicle (NEV) Taxi Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
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 2028
2. Global New Energy Vehicle (NEV) Taxi Historical Market: Breakup by Type (USD Million), 2018-2022
3. Global New Energy Vehicle (NEV) Taxi Market Forecast: Breakup by Type (USD Million), 2023-2028
4. Global New Energy Vehicle (NEV) Taxi Historical Market: Breakup by Range (USD Million), 2018-2022
5. Global New Energy Vehicle (NEV) Taxi Market Forecast: Breakup by Range (USD Million), 2023-2028
6. Global New Energy Vehicle (NEV) Taxi Historical Market: Breakup by Region (USD Million), 2018-2022
7. Global New Energy Vehicle (NEV) Taxi Market Forecast: Breakup by Region (USD Million), 2023-2028
8. North America New Energy Vehicle (NEV) Taxi Historical Market: Breakup by Country (USD Million), 2018-2022
9. North America New Energy Vehicle (NEV) Taxi Market Forecast: Breakup by Country (USD Million), 2023-2028
10. Europe New Energy Vehicle (NEV) Taxi Historical Market: Breakup by Country (USD Million), 2018-2022
11. Europe New Energy Vehicle (NEV) Taxi Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Asia Pacific New Energy Vehicle (NEV) Taxi Historical Market: Breakup by Country (USD Million), 2018-2022
13. Asia Pacific New Energy Vehicle (NEV) Taxi Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Latin America New Energy Vehicle (NEV) Taxi Historical Market: Breakup by Country (USD Million), 2018-2022
15. Latin America New Energy Vehicle (NEV) Taxi Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Middle East and Africa New Energy Vehicle (NEV) Taxi Historical Market: Breakup by Country (USD Million), 2018-2022
17. Middle East and Africa New Energy Vehicle (NEV) Taxi Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Global New Energy Vehicle (NEV) Taxi Market Structure.
Key Questions Answered in the Report
The market is estimated to grow at a CAGR of 1.8% between 2023 and 2028.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
An electric vehicle is a one of the most popular types of new energy vehicle which is powered by electricity.
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.
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.
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.
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.
Intercity and Intra-city is the segmentation of the market based on range.
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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