New Energy Vehicle (NEV) Taxi Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2024-2031

Description

Persistence Market Research has recently released an in-depth report on the global New Energy Vehicle (NEV) Taxi Market. This report provides a detailed assessment of key market dynamics, including drivers, trends, opportunities, and challenges, offering critical insights into the structure of this rapidly evolving market. The research publication outlines the anticipated growth trajectory of the global NEV taxi market from 2024 to 2031.

Key Insights: NEV Taxi Market

Market Size (2024E): US$35.8 Mn
Projected Market Value (2031F): US$120.4 Mn
Global Market Growth Rate (CAGR 2024 to 2031): 18.9%

NEV Taxi Market - Report Scope:

New energy vehicle (NEV) taxis, powered by electricity or alternative energy sources such as hydrogen, are transforming urban transportation globally. NEV taxis are critical for reducing carbon emissions in cities and improving air quality, contributing to sustainable mobility solutions. The NEV taxi market includes a wide range of vehicle types, including battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and hydrogen fuel cell vehicles (FCEVs), which cater to different market demands based on factors such as energy efficiency, range, and environmental impact.

Market Growth Drivers:

The global NEV taxi market is driven by multiple factors, including increasing government incentives to promote the adoption of electric vehicles, rising concerns over carbon emissions, and the growing need for sustainable urban transportation. Policies aimed at reducing reliance on fossil fuels, coupled with the availability of tax rebates, subsidies, and low-interest loans, are encouraging both drivers and fleet operators to switch to NEVs. Additionally, advancements in battery technology, leading to longer driving ranges and faster charging times, are making NEV taxis a more viable option for large-scale adoption.

Urbanization trends, alongside the expansion of smart city initiatives, also play a crucial role in accelerating market growth. Cities are increasingly implementing policies that prioritize electric and hybrid vehicle use, including establishing low-emission zones, which is further driving demand for NEV taxis.

Market Restraints:

Despite the promising outlook, the NEV taxi market faces challenges related to the high initial cost of NEV taxis, limited charging infrastructure, and concerns about battery life and range in certain regions. The high cost of electric vehicles compared to conventional internal combustion engine (ICE) taxis is a significant barrier, particularly for taxi operators in developing countries with limited financial resources. Additionally, the absence of widespread charging networks in several emerging markets hampers the scalability of NEV taxi fleets. The lack of standardized charging stations and the relatively long charging times, compared to traditional refueling, also limit the operational efficiency of NEV taxis, especially in high-demand areas. To overcome these challenges, further investment in charging infrastructure and improvements in battery technology are crucial for supporting the widespread adoption of NEV taxis.

Market Opportunities:

Significant growth opportunities exist in the NEV taxi market due to ongoing technological advancements, the expansion of public charging infrastructure, and emerging demand for zero-emission vehicles in urban areas. Investment in fast-charging solutions, battery swapping technology, and ultra-long-range electric taxis are expected to enhance the operational efficiency of NEV taxis, reducing downtime for charging and making them more attractive to drivers and fleet operators.Strategic collaborations between automotive manufacturers, technology providers, and energy companies are expected to accelerate the deployment of charging stations and reduce barriers to NEV adoption. Additionally, the growing integration of NEV taxis with ride-hailing platforms and mobility-as-a-service (MaaS) solutions is creating new avenues for market expansion, providing customers with convenient, eco-friendly transportation options.

Key Questions Answered in the Report:

What are the primary drivers of growth in the global NEV taxi market?
Which vehicle types and regions are leading the adoption of NEV taxis?
How are government policies shaping the competitive landscape of the NEV taxi market?
Who are the key players in the NEV taxi market, and what strategies are they employing to maintain market leadership?
What are the future prospects and emerging trends in the NEV taxi market?

Competitive Intelligence and Business Strategy:

Key players in the global NEV taxi market, including BYD Company Ltd., Tesla, Nissan Motor Corporation, and Hyundai Motor Company, are focusing on innovation, product diversification, and strategic partnerships to gain a competitive edge. These companies are investing in R&D to develop advanced NEV taxi models with improved range, faster charging capabilities, and enhanced safety features. Collaborations with ride-hailing services, taxi fleet operators, and government entities are promoting the large-scale deployment of NEV taxis in urban centers. Furthermore, an emphasis on environmental sustainability, customer education, and the development of cost-efficient NEV models is driving market growth and facilitating the transition to cleaner urban mobility solutions.

Key Companies Profiled:

BYD Company Ltd.
Tesla
Nissan Motor Corporation
Hyundai Motor Company
Volkswagen AG
Toyota Motor Corporation
Honda Motor Co., Ltd.
Geely Auto
Renault S.A.
Changan Automobile

New Energy Vehicle (NEV) Taxi Market Segmentation

By Vehicle Type

Passenger Cars
Commercial Vehicles

By Type

Battery Electric Vehicles
Hybrid Vehicles
Plug-in Hybrid Electric Vehicles

By Region

North America
Europe
Asia Pacific

Product Code: PMRREP34856

1. Executive Summary

1.1. Global New Energy Vehicle (NEV) Taxi Market Snapshot, 2024-2031
1.2. Market Opportunity Assessment, 2024-2031, US$ Mn
1.3. Key Market Trends
1.4. Future Market Projections
1.5. Premium Market Insights
1.6. Industry Developments and Key Market Events
1.7. PMR Analysis and Recommendations

2. Market Overview

2.1. Market Scope and Definition
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Opportunity
- 2.2.4. Challenges
- 2.2.5. Key Trends
2.3. Product Lifecycle Analysis
2.4. New Energy Vehicle (NEV) Taxi Market: Value Chain
- 2.4.1. List of Raw Material Supplier
- 2.4.2. List of Manufacturers
- 2.4.3. List of Distributors
- 2.4.4. List of Production Methods
- 2.4.5. Profitability Analysis
2.5. Macro-Economic Factors
- 2.5.1. Global Sectorial Outlook
- 2.5.2. Global GDP Growth Outlook
- 2.5.3. Global Parent Market Overview
2.6. Forecast Factors - Relevance and Impact
2.7. Covid-19 Impact Assessment
2.8. PESTLE Analysis
2.9. Porter Five Force's Analysis
2.10. Geopolitical Tensions: Market Impact
2.11. Regulatory and Technology Landscape

3. Macro-economic Factors

3.1. GDP Growth Outlook
3.2. Global Chemical Industry Outlook
3.3. Other Macroeconomic Factors

4. Price Trend Analysis, 2019-2031

4.1. Key Highlights
4.2. Key Factors Impacting Product Prices
4.3. Prices By Product Type /Method
4.4. Regional Prices and Product Preferences

5. Global New Energy Vehicle (NEV) Taxi Market Outlook: Historical (2019-2023) and Forecast (2024-2031)

5.1. Key Highlights
- 5.1.1. Market Volume (Unit) Projections
- 5.1.2. Market Size and Y-o-Y Growth
- 5.1.3. Absolute $ Opportunity
5.2. Market Size (US$ Mn) and Volume (Unit) Analysis and Forecast
- 5.2.1. Historical Market Size Analysis, 2019-2023
- 5.2.2. Current Market Size Forecast, 2024-2031
5.3. Global New Energy Vehicle (NEV) Taxi Market Outlook: Product Type
- 5.3.1. Introduction / Key Findings
- 5.3.2. Historical Market Size (US$ Mn) and Volume (Unit) Analysis By Product Type , 2019-2023
- 5.3.3. Current Market Size (US$ Mn) and Volume (Unit) Forecast By Product Type , 2024-2031
  - 5.3.3.1. Passenger Cars
  - 5.3.3.2. Commercial Vehicles
5.4. Market Attractiveness Analysis: Product Type
5.5. Global New Energy Vehicle (NEV) Taxi Market Outlook: Method
- 5.5.1. Introduction / Key Findings
- 5.5.2. Historical Market Size (US$ Mn) and Volume (Unit) Analysis By Type, 2019-2023
- 5.5.3. Current Market Size (US$ Mn) and Volume (Unit) Forecast By Type, 2024-2031
  - 5.5.3.1. Battery Electric Vehicles
  - 5.5.3.2. Hybrid Vehicles
  - 5.5.3.3. Plug-in Hybrid Electric Vehicles
5.6. Market Attractiveness Analysis: Type

6. Global New Energy Vehicle (NEV) Taxi Market Outlook: Region

6.1. Key Highlights
6.2. Historical Market Size (US$ Mn) and Volume (Unit) Analysis By Region, 2019-2023
6.3. Current Market Size (US$ Mn) and Volume (Unit) Forecast By Region, 2024-2031
- 6.3.1. North America
- 6.3.2. Europe
- 6.3.3. East Asia
- 6.3.4. South Asia and Oceania
- 6.3.5. Latin America
- 6.3.6. Middle East & Africa
6.4. Market Attractiveness Analysis: Region

7. North America New Energy Vehicle (NEV) Taxi Market Outlook: Historical (2019-2023) and Forecast (2024-2031)

7.1. Key Highlights
7.2. Pricing Analysis
7.3. Historical Market Size (US$ Mn) and Volume (Unit) Analysis By Market, 2019-2023
- 7.3.1. By Country
- 7.3.2. By Product Type
- 7.3.3. By Type
7.4. Current Market Size (US$ Mn) and Volume (Unit) Forecast By Country, 2024-2031
- 7.4.1. U.S.
- 7.4.2. Canada
7.5. Current Market Size (US$ Mn) and Volume (Unit) Forecast By Product Type , 2024-2031
- 7.5.1. Passenger Cars
- 7.5.2. Commercial Vehicles
7.6. Current Market Size (US$ Mn) and Volume (Unit) Forecast By Type, 2024-2031
- 7.6.1. Battery Electric Vehicles
- 7.6.2. Hybrid Vehicles
- 7.6.3. Plug-in Hybrid Electric Vehicles
7.7. Market Attractiveness Analysis

8. Europe New Energy Vehicle (NEV) Taxi Market Outlook: Historical (2019-2023) and Forecast (2024-2031)

8.1. Key Highlights
8.2. Pricing Analysis
8.3. Historical Market Size (US$ Mn) and Volume (Unit) Analysis By Market, 2019-2023
- 8.3.1. By Country
- 8.3.2. By Product Type
- 8.3.3. By Type
8.4. Current Market Size (US$ Mn) and Volume (Unit) Forecast By Country, 2024-2031
- 8.4.1. Germany
- 8.4.2. France
- 8.4.3. U.K.
- 8.4.4. Spain
- 8.4.5. Russia
- 8.4.6. Turkey
- 8.4.7. Rest of Europe
8.5. Current Market Size (US$ Mn) and Volume (Unit) Forecast By Product Type , 2024-2031
- 8.5.1. Passenger Cars
- 8.5.2. Commercial Vehicles
8.6. Current Market Size (US$ Mn) and Volume (Unit) Forecast By Type, 2024-2031
- 8.6.1. Battery Electric Vehicles
- 8.6.2. Hybrid Vehicles
- 8.6.3. Plug-in Hybrid Electric Vehicles
8.7. Market Attractiveness Analysis

9. East Asia New Energy Vehicle (NEV) Taxi Market Outlook: Historical (2019-2023) and Forecast (2024-2031)

9.1. Key Highlights
9.2. Pricing Analysis
9.3. Historical Market Size (US$ Mn) and Volume (Unit) Analysis By Market, 2019-2023
- 9.3.1. By Country
- 9.3.2. By Product Type
- 9.3.3. By Type
9.4. Current Market Size (US$ Mn) and Volume (Unit) Forecast By Country, 2024-2031
- 9.4.1. China
- 9.4.2. Japan
- 9.4.3. South Korea
9.5. Current Market Size (US$ Mn) and Volume (Unit) Forecast By Product Type , 2024-2031
- 9.5.1. Passenger Cars
- 9.5.2. Commercial Vehicles
9.6. Current Market Size (US$ Mn) and Volume (Unit) Forecast By Type, 2024-2031
- 9.6.1. Battery Electric Vehicles
- 9.6.2. Hybrid Vehicles
- 9.6.3. Plug-in Hybrid Electric Vehicles
9.7. Market Attractiveness Analysis

10. South Asia & Oceania New Energy Vehicle (NEV) Taxi Market Outlook: Historical (2019-2023) and Forecast (2024-2031)

10.1. Key Highlights
10.2. Pricing Analysis
10.3. Historical Market Size (US$ Mn) and Volume (Unit) Analysis By Market, 2019-2023
- 10.3.1. By Country
- 10.3.2. By Product Type
- 10.3.3. By Type
10.4. Current Market Size (US$ Mn) and Volume (Unit) Forecast By Country, 2024-2031
- 10.4.1. India
- 10.4.2. Southeast Asia
- 10.4.3. Rest of South Asia & Oceania
10.5. Current Market Size (US$ Mn) and Volume (Unit) Forecast By Product Type , 2024-2031
- 10.5.1. Passenger Cars
- 10.5.2. Commercial Vehicles
10.6. Current Market Size (US$ Mn) and Volume (Unit) Forecast By Type, 2024-2031
- 10.6.1. Battery Electric Vehicles
- 10.6.2. Hybrid Vehicles
- 10.6.3. Plug-in Hybrid Electric Vehicles
10.7. Market Attractiveness Analysis

11. Latin America New Energy Vehicle (NEV) Taxi Market Outlook: Historical (2019-2023) and Forecast (2024-2031)

11.1. Key Highlights
11.2. Pricing Analysis
11.3. Historical Market Size (US$ Mn) and Volume (Unit) Analysis By Market, 2019-2023
- 11.3.1. By Country
- 11.3.2. By Product Type
- 11.3.3. By Type
11.4. Current Market Size (US$ Mn) and Volume (Unit) Forecast By Country, 2024-2031
- 11.4.1. Brazil
- 11.4.2. Mexico
- 11.4.3. Rest of Latin America
11.5. Current Market Size (US$ Mn) and Volume (Unit) Forecast By Product Type , 2024-2031
- 11.5.1. Passenger Cars
- 11.5.2. Commercial Vehicles
11.6. Current Market Size (US$ Mn) and Volume (Unit) Forecast By Type, 2024-2031
- 11.6.1. Battery Electric Vehicles
- 11.6.2. Hybrid Vehicles
- 11.6.3. Plug-in Hybrid Electric Vehicles
11.7. Market Attractiveness Analysis

12. Middle East & Africa New Energy Vehicle (NEV) Taxi Market Outlook: Historical (2019-2023) and Forecast (2024-2031)

12.1. Key Highlights
12.2. Pricing Analysis
12.3. Historical Market Size (US$ Mn) and Volume (Unit) Analysis By Market, 2019-2023
- 12.3.1. By Country
- 12.3.2. By Product Type
- 12.3.3. By Type
12.4. Current Market Size (US$ Mn) and Volume (Unit) Forecast By Country, 2024-2031
- 12.4.1. GCC
- 12.4.2. Egypt
- 12.4.3. South Africa
- 12.4.4. Northern Africa
- 12.4.5. Rest of Middle East & Africa
12.5. Current Market Size (US$ Mn) and Volume (Unit) Forecast By Product Type , 2024-2031
- 12.5.1. Passenger Cars
- 12.5.2. Commercial Vehicles
12.6. Current Market Size (US$ Mn) and Volume (Unit) Forecast By Type, 2024-2031
- 12.6.1. Battery Electric Vehicles
- 12.6.2. Hybrid Vehicles
- 12.6.3. Plug-in Hybrid Electric Vehicles
12.7. Market Attractiveness Analysis

13. Competition Landscape

13.1. Market Share Analysis, 2024
13.2. Market Structure
- 13.2.1. Competition Intensity Mapping By Market
- 13.2.2. Competition Dashboard
- 13.2.3. Apparent Production Capacity
13.3. Company Profiles (Details - Overview, Financials, Strategy, Recent Developments)
- 13.3.1. Tesla Inc.
  - 13.3.1.1. Overview
  - 13.3.1.2. Segments and Products
  - 13.3.1.3. Key Financials
  - 13.3.1.4. Market Developments
  - 13.3.1.5. Market Strategy
- 13.3.2. BYD
- 13.3.3. Anhui Jianghuai Automobile Co Ltd (JAC)
- 13.3.4. Uber Technologies
- 13.3.5. Daimler AG
- 13.3.6. Beijing Automotive Industry Holding Co. Ltd.
- 13.3.7. Lyft Inc.
- 13.3.8. Baidu
- 13.3.9. Didi Chuxing
- 13.3.10. Amazon
- 13.3.11. JAC Motors

Note: List of companies is not exhaustive in nature. It is subject to further augmentation during course of research

14. Appendix

14.1. Research Methodology
14.2. Research Assumptions
14.3. Acronyms and Abbreviations