New Energy Vehicle Taxi Market By Size, Growth and Forecast 2029F

Summary

Report Description

Forecast Period	2025-2029
Market Size (2023)	USD 101.22 Billion
CAGR (2024-2029)	5.18%
Dominating Segment	Battery Electric
Largest Market	North America
Market Size (2029)	USD 136.64 Billion

Market Overview

Global New Energy Vehicle Taxi Market was valued at USD 101.22 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 5.18% through 2029. The global NEV taxi market is currently undergoing a transformation owing to cities’ efforts to decrease emissions and improve mobility. This market refers to EVs, PHEVs, and HFCVs used for taxi services. Local governments and municipal authorities are beginning to encourage the use of NEV taxis through policy support, subsidies and incentives due to the large impact that traditional gasoline and diesel powered taxis have on the environment. The increase in environmental consciousness, the development of batteries and charging stations, and the NEV taxi market are the main drivers for NEV taxis.

The following factors explain the growth of the NEV taxi market; Firstly, high emission standards and polices that seek to reduce pollution in urban areas are forcing taxi operators to adopt cleaner energy vehicles. As a result of this, governments have offered incentives in form of tax rebates, grants and reduced registration fees to ensure that more people embrace the use of NEVs. Secondly, the cost of owning lithium-ion batteries has reduced meaning that the cost of owning electric taxis is relatively cheaper as compared to other options. This lower cost of batteries along with better battery range and charging times is making NEVs even more appealing for taxi services. Also, the growing trend of ride-hailing platforms is putting pressure on NEV taxi manufacturers because companies want to meet green objectives and save money on fuel expenses.

The following are some of the trends and opportunities that are also influencing the NEV taxi market. One emerging trend is the adoption of technologically enhanced solutions like telematics, IoT, and AI for better fleet operations and customer satisfaction. These technologies help in tracking the performance of the car in real-time, predicting the probable failure, and planning the route, thus increasing the operational effectiveness of NEV taxis. Another is the growing partnership between car makers, technology companies and energy suppliers to come up with adequate charging points and battery swapping stations to deal with the issue of limited range and long charging period. Additionally, the increasing concern of consumers toward green and environmentally friendly transportation vehicles also offers a great potential for NEV taxi services. There are some issues that need to be solved and challenges that affect the NEV taxi market as follows. One of the main problems is the deficiency of NEVs and their high initial cost, which may prevent smaller taxi companies from adopting them. Insufficient charging infrastructure is a major problem, especially in the developing areas, which hinders the large-scale promotion of NEV taxis.

Market Drivers

Government Incentives and Regulations

Globally governments are putting tight policies to reduce emission and encourage environment friendly transport systems. To promote NEVs, there are policies like tax credits, subsidies, and grants are being provided to consumers. For instance, in 2023, the European Union came up with new emissions standards that would reduce the rates of high-emission vehicles while promoting the use of low-emission vehicles. This regulatory framework is pushing the conversion to NEV taxis. Also, such measures as low-emission zones in cities like London and Paris, in which only electric or hybrid taxis are allowed, also contribute to the advancement of NEVs.

Technological Advancements in Battery Technology

The battery technology is improving and thus the NEVs are becoming more feasible to be used in taxi services. Lithium-ion batteries’ costs have declined over time and thus have affected the costs of NEVs. Tesla and Panasonic are among those who have declared new battery innovations in 2023 with better energy density and charging time. These developments enhance the competence and shorten the range of NEV taxis, thus making them superior to conventional internal combustion engine vehicles. Higher mileage and usage patterns of taxi services require better battery capacity and durability.

Rise of Ride-Hailing Services

The emergence of online car hailing services like Uber, Lyft, Didi Chuxing etc has created the need for NEV taxis. These companies are gradually adopting electric vehicles to meet the requirements of sustainable development and also to cut down on expenses. In 2024, Uber said that it will achieve zero emissions mobility by 2030 and committed to purchasing tens of thousands of electric and hybrid cars. The growth of ride hailing services among the working population in urban areas combined with these companies’ environmental policies is driving the market for NEV taxis. Also, collaborations between ride-hailing firms and automotive manufacturers are now driving the adoption of NEVs at a faster pace.

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Key Market Challenges

High Initial Costs and Limited Availability

As for the battery, although the cost of NEVs’ batteries has been gradually reduced, the NEVs is still expensive in terms of the first cost relative to conventional vehicles. These high initial costs present a problem to smaller operators, and thus they are unable to invest in NEVs. Besides, the accessibility of NEVs remains low in many places, especially in the developing world. A BloombergNEF analysis in 2023 showed that while NEV prices are declining, they are still high to be afforded by most independent taxi owners hindering their adoption.

Inadequate Charging Infrastructure

Insufficient charging infrastructure is a major challenge that slows the development of NEV taxis. In many areas including rural areas, there is no sufficient infrastructures to support the use of NEVs. Compared to refuel traditional vehicles, the long charging time is a disadvantage and can hinder the operations of taxi services hence lowering profitability. This problem is in the process of being solved; thus, Shell and BP stated in 2023 on the plans to increase the number of charging points for EVs. However, the progress of infrastructure construction should be stepped up to meet the demands of NEVs in the future.

Battery Longevity and Resale Value Concerns

The battery capacity reduction over time and it’s effect on the operational efficiency of the taxis and the re-sale value of the car is another area of concern among the operators. NEV batteries degrade with time, hence lowering the vehicles range and efficiency hence escalating the operational costs. MIT research in June 2024 pointed out that while battery technology is advancing, the battery degradation and performance fluctuation in NEVs are still problems. In the same way, the unpredictable value of NEVs as compared to regular taxis pose as a barrier to operators transitioning to NEVs.

Key Market Trends

Integration of Advanced Technologies

The NEV taxi market is being reshaped by the integration of intelligent technologies like telematics, IoT, and AI. These technologies allow for constant tracking of performance, timely identification of issues that need fixing and proper planning of routes which would in turn improve operations and passengers’ satisfaction. For example, in 2024, Tesla developed an AI-based system that optimizes the management of electric taxis’ fleets and minimizes their time off. Such technologies are essential in enhancing the efficiency and the returns of NEV taxis.

Collaborations and Partnerships

Growing partnerships between car manufacturers, IT companies and energy companies are boosting the NEV taxi business. These are partnerships that are expected to solve some of the problems like charging infrastructure and battery technology. In 2023, Volkswagen signed partnership with BP to deploys fast-charging network in Europe. Likewise the Toyota Motor Corporation entered into a strategic alliance with the Panasonic Corporation for better production of batteries for electric cars at a cheaper cost. These collaborations are critical for NEV market expansion since they ensure that all problems affecting the industry are solved through the provision of complete solutions.

Sustainable Fleet Initiatives by Ride-Hailing Companies

Ride-hailing platforms have been setting goals of becoming NEV-centric in order to meet sustainability goals. In 2024, Lyft put into operation the program of electrification of vehicles, which provides for the transition to fully electric cars by 2030, including promotions and bonuses for drivers who decided to switch to electric cars. These measures are not only effective in lowering the carbon impact of city transportation, but are also providing the general blueprint for NEV acceptance in the taxi market. The sincerity that these companies have put into the sustainability aspect is pushing the call for NEV taxis as well as the investment in this specific area.

Segmental Insights

By Power Train Analysis

The global new energy vehicle (NEV) taxi market is segmented by powertrain into three primary categories: these are battery electric vehicles (BEVs), hybrid electric vehicles (HEVs), and plug-in hybrid electric vehicles (PHEVs). Every powertrain type has its unique characteristics and is essential in the development of the market, fulfilling diverse requirements of taxi fleet management and the owners’ preferences.

Battery electric vehicles (BEVs) are all-electric, powered solely by rechargeable battery packs, and produce zero emissions. As the dominant choice for reducing urban air pollution and greenhouse gas emissions, BEVs benefit from ongoing advancements in battery technology, resulting in improved range and faster charging times. Compared to internal combustion engine vehicles, BEVs have lower maintenance costs due to fewer moving parts. The continuous expansion of the charging network, including an increase in fast-charging stations, enhances the feasibility of BEVs for the taxi business. BEVs are particularly well-suited for short to medium-distance driving, which aligns with typical city traffic conditions and the growing availability of charging stations.

Hybrid electric vehicles (HEVs) are those automobiles that contain an internal combustion engine and an electric motor and battery. This configuration enables the HEVs to run on electricity alone for a certain distance and the gasoline engine for longer distances and higer speeds. HEVs are therefore a good choice for taxi operators who want to cut their fuel bills and emissions but are not quite ready to go fully electric. Another feature that is integrated in HEVs is regenerative braking system that assists in recharging the battery while in use. HEVs are beneficial in areas where the charging facilities are scarce since HEVs are not solely dependent on the charging systems.

PHEVs are closely related to both BEVs and HEVs as they have battery packs with significantly greater storage capacity that can be charged externally while containing an ICE. PHEVs can effectively perform their duty in all electric mode for a one way distance, which means, they can save a lot of fuel and emissions during city duty cycles. When the battery is empty, the vehicle goes into hybrid mode which affords it the luxury of travelling longer distances without the feeling of being ‘range limited’. As with the previous case of electric cars, PHEVs are a good compromise between electric driving and the range of a conventional engine which can be useful for the needs of the taxi operators. The combination of the electric and gasoline engines in PHEVs gives them operational versatility, and they can be useful in regions with the emerging charging network.

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Regional Insights

The global new energy vehicle (NEV) taxi market is characterized by regional diversity, with distinct trends and developments across North America, Europe & CIS, Asia Pacific, South America, and the Middle East & Africa. The NEV taxi market in North America is driven by substantial investments in environmentally friendly transportation and energy. As the dominant region, North America benefits from various incentives, such as tax rebates and grants for NEVs, alongside stringent exhaust emission standards that encourage the adoption of NEV taxis. The well-developed charging infrastructure, particularly in urban centers, makes BEVs and PHEVs operationally feasible. Additionally, advancements in battery technology and the growing number of fast-charging stations enhance the appeal of NEVs for taxi owners and operators, who seek to reduce fuel costs and minimize pollution.

Europe & CIS shows a strong concern towards environmental conservation, with most nations working towards controlling carbon emissions and encouraging environmentally friendly means of transport. This regional NEV taxi market has been backed by favorable government polices such as subsidies to those who purchase NEVs and construction of public charging facilities. The European emission standards and the member countries’ climate change objectives also foster NEV taxi adoption. Also, plans to establish smart cities and the implementation of technological innovations in transportation also foster the increased usage of NEVs in the taxi business. Thus, the partnership between car makers and energy suppliers even faster the advancement and adoption of NEV taxis.

Asia-Pacific is characterized by high growth and development of NEV taxis due to increased urbanization, growth of the economy and heightened environmental consciousness. Governments in this region have encouraged electric mobility through various encouragements such as subsidies, tax credits and investment in infrastructure. The existence of extensive public charging facilities and technological improvement in battery assist the market of NEV taxi. Large cities in China, Japan, and South Korea, among other countries, are experiencing increased adoption of NEV taxi services because of systemic attempts at decreasing air pollution and improving public transportation systems. The focus on innovation and thus the integration of technology also promotes smart transportation solutions and thus strengthens the NEV taxi market in the region.

In South America, the NEV taxi market is slowly growing as authorities of various levels start to realize the necessity of developing an environmentally friendly urban transport system. Promotion of cleaner air and minimized use of fossil based energy enhance the demand of NEV taxis. However, there are factors, including a lack of charging stations and the initial costs of NEVs being relatively steep, that act as barriers to their adoption. Mitigative measures that have been made include expanding on the charging infrastructure and partnership with global entities for electric transportation..

The Middle East & Africa region presents unique opportunities and challenges for the NEV taxi market. While the adoption of NEVs is in the early stages, there isincreasing recognition of the potential benefits in terms of reducing emissions and enhancing energy security. Governments and private stakeholders are exploring pilot projects and investing in infrastructure to support the gradual integration of NEV taxis. In many cities, efforts are underway to build the necessary infrastructure and create favorable conditions for the adoption of electric and hybrid taxis.

Recent Developments

In 2023, Uber said it had increased its electric vehicle options in line with its plan to make the mobility platform a zero-emissions one by 2030. The company promised to spend $800 million on resources to assist its drivers to transition to EVs and also provide them with offers from manufacturers of EVs and charging at special rates. This is within the company’s sustainability plan and depicts a trend of NEV taxis across the ride-hailing market.
In 2023, Volkswagen and BP agreed on the creation of a dense network of fast charging stations in Europe as partners. The rationale for this partnership is to focus on one of the significant issues in the NEV market, which is the scarcity of charging stations. The project also entails the installation of high power charging stations in appropriate areas to boost the practicality of the operation of NEV taxis through shortening the charging durations and ease of access.
In 2024, Lyft designed an elaborate strategy on the electrification of the ride-hailing fleet in accordance with the target of the company to achieve the electrification of its fleet by 2030. This measures comprise compensation and encouragement of drivers to adopt electric cars. Lyft has worked with automakers and financial companies to bring in rebates and more attractive leasing options for NEVs. Also, it entails the creation of charging points in consultation with energy suppliers in order to make it easier for drivers to access the charging stations.

Key Market Players

Tesla Inc.
BYD Company Limited
Anhui Jianghuai Automobile Group Co., Ltd.
Uber Technologies Inc.
Mercedes-Benz Group AG
BAIC Group
Lyft Inc.
Baidu, Inc
DiDi Global Inc.
Bolt Operations OÜ

By Vehicle Type	By Powertrain	By Region
Hatchback SUV Sedan	Battery Electric Hybrid Plug-in Hybrid Electric	North America Europe & CIS Asia-Pacific South America Middle East & Africa

Report Scope:

In this report, the Global New Energy Vehicle Taxi Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

New Energy Vehicle Taxi Market, By Powertrain:

o Battery Electric

o Hybrid

o Plug-in Hybrid Electric

New Energy Vehicle Taxi Market, By Vehicle Type:

o Hatchback

o SUV

o Sedan

New Energy Vehicle Taxi Market, By Region:

o Asia-Pacific

§ China

§ India

§ Japan

§ Indonesia

§ Thailand

§ South Korea

§ Australia

o Europe & CIS

§ Germany

§ Spain

§ France

§ Russia

§ Italy

§ United Kingdom

§ Belgium

o North America

§ United States

§ Canada

§ Mexico

o South America

§ Brazil

§ Argentina

§ Colombia

o Middle East & Africa

§ South Africa

§ Turkey

§ Saudi Arabia

§ UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global New Energy Vehicle Taxi Market.

Available Customizations:

Global New Energy Vehicle Taxi market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Global New Energy Vehicle Taxi Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1. Introduction

1.1. Product Overview

1.2. Key Highlights of the Report

1.3. Market Coverage

1.4. Market Segments Covered

1.5. Research Tenure Considered

2. Research Methodology

2.1. Methodology Landscape

2.2. Objective of the Study

2.3. Baseline Methodology

2.4. Formulation of the Scope

2.5. Assumptions and Limitations

2.6. Sources of Research

2.7. Approach for the Market Study

2.8. Methodology Followed for Calculation of Market Size & Market Shares

2.9. Forecasting Methodology

3. Executive Summary

3.1. Market Overview

3.2. Market Forecast

3.3. Key Regions

3.4. Key Segments

4. Impact of COVID-19 on Global New Energy Vehicle Taxi Market

5. Global New Energy Vehicle Taxi Market Outlook

5.1. Market Size & Forecast

5.1.1. By Value

5.2. Market Share & Forecast

5.2.1. By Vehicle Type Market Share Analysis (Hatchback, SUV and Sedan)

5.2.2. By Powertrain Market Share Analysis (Battery Electric, Hybrid, and Plug-in Hybrid Electric)

5.2.3. By Regional Market Share Analysis

5.2.3.1. Asia-Pacific Market Share Analysis

5.2.3.2. Europe & CIS Market Share Analysis

5.2.3.3. North America Market Share Analysis

5.2.3.4. South America Market Share Analysis

5.2.3.5. Middle East & Africa Market Share Analysis

5.2.4. By Company Market Share Analysis (Top 5 Companies, Others - By Value, 2023)

5.3. Global New Energy Vehicle Taxi Market Mapping & Opportunity Assessment

5.3.1. By Vehicle Type Market Mapping & Opportunity Assessment

5.3.2. By Powertrain Market Mapping & Opportunity Assessment

5.3.3. By Regional Market Mapping & Opportunity Assessment

6. Asia-Pacific New Energy Vehicle Taxi Market Outlook

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Vehicle Type Market Share Analysis

6.2.2. By Powertrain Market Share Analysis

6.2.3. By Country Market Share Analysis

6.2.3.1. China Market Share Analysis

6.2.3.2. India Market Share Analysis

6.2.3.3. Japan Market Share Analysis

6.2.3.4. Indonesia Market Share Analysis

6.2.3.5. Thailand Market Share Analysis

6.2.3.6. South Korea Market Share Analysis

6.2.3.7. Australia Market Share Analysis

6.2.3.8. Rest of Asia-Pacific Market Share Analysis

6.3. Asia-Pacific: Country Analysis

6.3.1. China New Energy Vehicle Taxi Market Outlook

6.3.1.1. Market Size & Forecast

6.3.1.1.1. By Value

6.3.1.2. Market Share & Forecast

6.3.1.2.1. By Vehicle Type Market Share Analysis

6.3.1.2.2. By Powertrain Market Share Analysis

6.3.2. India New Energy Vehicle Taxi Market Outlook

6.3.2.1. Market Size & Forecast

6.3.2.1.1. By Value

6.3.2.2. Market Share & Forecast

6.3.2.2.1. By Vehicle Type Market Share Analysis

6.3.2.2.2. By Powertrain Market Share Analysis

6.3.3. Japan New Energy Vehicle Taxi Market Outlook

6.3.3.1. Market Size & Forecast

6.3.3.1.1. By Value

6.3.3.2. Market Share & Forecast

6.3.3.2.1. By Vehicle Type Market Share Analysis

6.3.3.2.2. By Powertrain Market Share Analysis

6.3.4. Indonesia New Energy Vehicle Taxi Market Outlook

6.3.4.1. Market Size & Forecast

6.3.4.1.1. By Value

6.3.4.2. Market Share & Forecast

6.3.4.2.1. By Vehicle Type Market Share Analysis

6.3.4.2.2. By Powertrain Market Share Analysis

6.3.5. Thailand New Energy Vehicle Taxi Market Outlook

6.3.5.1. Market Size & Forecast

6.3.5.1.1. By Value

6.3.5.2. Market Share & Forecast

6.3.5.2.1. By Vehicle Type Market Share Analysis

6.3.5.2.2. By Powertrain Market Share Analysis

6.3.6. South Korea New Energy Vehicle Taxi Market Outlook

6.3.6.1. Market Size & Forecast

6.3.6.1.1. By Value

6.3.6.2. Market Share & Forecast

6.3.6.2.1. By Vehicle Type Market Share Analysis

6.3.6.2.2. By Powertrain Market Share Analysis

6.3.7. Australia New Energy Vehicle Taxi Market Outlook

6.3.7.1. Market Size & Forecast

6.3.7.1.1. By Value

6.3.7.2. Market Share & Forecast

6.3.7.2.1. By Vehicle Type Market Share Analysis

6.3.7.2.2. By Powertrain Market Share Analysis

7. Europe & CIS New Energy Vehicle Taxi Market Outlook

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Vehicle Type Market Share Analysis

7.2.2. By Powertrain Market Share Analysis

7.2.3. By Country Market Share Analysis

7.2.3.1. Germany Market Share Analysis

7.2.3.2. Spain Market Share Analysis

7.2.3.3. France Market Share Analysis

7.2.3.4. Russia Market Share Analysis

7.2.3.5. Italy Market Share Analysis

7.2.3.6. United Kingdom Market Share Analysis

7.2.3.7. Belgium Market Share Analysis

7.2.3.8. Rest of Europe & CIS Market Share Analysis

7.3. Europe & CIS: Country Analysis

7.3.1. Germany New Energy Vehicle Taxi Market Outlook

7.3.1.1. Market Size & Forecast

7.3.1.1.1. By Value

7.3.1.2. Market Share & Forecast

7.3.1.2.1. By Vehicle Type Market Share Analysis

7.3.1.2.2. By Powertrain Market Share Analysis

7.3.2. Spain New Energy Vehicle Taxi Market Outlook

7.3.2.1. Market Size & Forecast

7.3.2.1.1. By Value

7.3.2.2. Market Share & Forecast

7.3.2.2.1. By Vehicle Type Market Share Analysis

7.3.2.2.2. By Powertrain Market Share Analysis

7.3.3. France New Energy Vehicle Taxi Market Outlook

7.3.3.1. Market Size & Forecast

7.3.3.1.1. By Value

7.3.3.2. Market Share & Forecast

7.3.3.2.1. By Vehicle Type Market Share Analysis

7.3.3.2.2. By Powertrain Market Share Analysis

7.3.4. Russia New Energy Vehicle Taxi Market Outlook

7.3.4.1. Market Size & Forecast

7.3.4.1.1. By Value

7.3.4.2. Market Share & Forecast

7.3.4.2.1. By Vehicle Type Market Share Analysis

7.3.4.2.2. By Powertrain Market Share Analysis

7.3.5. Italy New Energy Vehicle Taxi Market Outlook

7.3.5.1. Market Size & Forecast

7.3.5.1.1. By Value

7.3.5.2. Market Share & Forecast

7.3.5.2.1. By Vehicle Type Market Share Analysis

7.3.5.2.2. By Powertrain Market Share Analysis

7.3.6. United Kingdom New Energy Vehicle Taxi Market Outlook

7.3.6.1. Market Size & Forecast

7.3.6.1.1. By Value

7.3.6.2. Market Share & Forecast

7.3.6.2.1. By Vehicle Type Market Share Analysis

7.3.6.2.2. By Powertrain Market Share Analysis

7.3.7. Belgium New Energy Vehicle Taxi Market Outlook

7.3.7.1. Market Size & Forecast

7.3.7.1.1. By Value

7.3.7.2. Market Share & Forecast

7.3.7.2.1. By Vehicle Type Market Share Analysis

7.3.7.2.2. By Powertrain Market Share Analysis

8. North America New Energy Vehicle Taxi Market Outlook

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Vehicle Type Market Share Analysis

8.2.2. By Powertrain Market Share Analysis

8.2.3. By Country Market Share Analysis

8.2.3.1. United States Market Share Analysis

8.2.3.2. Mexico Market Share Analysis

8.2.3.3. Canada Market Share Analysis

8.3. North America: Country Analysis

8.3.1. United States New Energy Vehicle Taxi Market Outlook

8.3.1.1. Market Size & Forecast

8.3.1.1.1. By Value

8.3.1.2. Market Share & Forecast

8.3.1.2.1. By Vehicle Type Market Share Analysis

8.3.1.2.2. By Powertrain Market Share Analysis

8.3.2. Mexico New Energy Vehicle Taxi Market Outlook

8.3.2.1. Market Size & Forecast

8.3.2.1.1. By Value

8.3.2.2. Market Share & Forecast

8.3.2.2.1. By Vehicle Type Market Share Analysis

8.3.2.2.2. By Powertrain Market Share Analysis

8.3.3. Canada New Energy Vehicle Taxi Market Outlook

8.3.3.1. Market Size & Forecast

8.3.3.1.1. By Value

8.3.3.2. Market Share & Forecast

8.3.3.2.1. By Vehicle Type Market Share Analysis

8.3.3.2.2. By Powertrain Market Share Analysis

9. South America New Energy Vehicle Taxi Market Outlook

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Vehicle Type Market Share Analysis

9.2.2. By Powertrain Market Share Analysis

9.2.3. By Country Market Share Analysis

9.2.3.1. Brazil Market Share Analysis

9.2.3.2. Argentina Market Share Analysis

9.2.3.3. Colombia Market Share Analysis

9.2.3.4. Rest of South America Market Share Analysis

9.3. South America: Country Analysis

9.3.1. Brazil New Energy Vehicle Taxi Market Outlook

9.3.1.1. Market Size & Forecast

9.3.1.1.1. By Value

9.3.1.2. Market Share & Forecast

9.3.1.2.1. By Vehicle Type Market Share Analysis

9.3.1.2.2. By Powertrain Market Share Analysis

9.3.2. Argentina New Energy Vehicle Taxi Market Outlook

9.3.2.1. Market Size & Forecast

9.3.2.1.1. By Value

9.3.2.2. Market Share & Forecast

9.3.2.2.1. By Vehicle Type Market Share Analysis

9.3.2.2.2. By Powertrain Market Share Analysis

9.3.3. Colombia New Energy Vehicle Taxi Market Outlook

9.3.3.1. Market Size & Forecast

9.3.3.1.1. By Value

9.3.3.2. Market Share & Forecast

9.3.3.2.1. By Vehicle Type Market Share Analysis

9.3.3.2.2. By Powertrain Market Share Analysis

10. Middle East & Africa New Energy Vehicle Taxi Market Outlook

10.1. Market Size & Forecast

10.1.1. By Value

10.2. Market Share & Forecast

10.2.1. By Vehicle Type Market Share Analysis

10.2.2. By Powertrain Market Share Analysis

10.2.3. By Country Market Share Analysis

10.2.3.1. South Africa Market Share Analysis

10.2.3.2. Turkey Market Share Analysis

10.2.3.3. Saudi Arabia Market Share Analysis

10.2.3.4. UAE Market Share Analysis

10.2.3.5. Rest of Middle East & Africa Market Share Analysis

10.3. Middle East & Africa: Country Analysis

10.3.1. South Africa New Energy Vehicle Taxi Market Outlook

10.3.1.1. Market Size & Forecast

10.3.1.1.1. By Value

10.3.1.2. Market Share & Forecast

10.3.1.2.1. By Vehicle Type Market Share Analysis

10.3.1.2.2. By Powertrain Market Share Analysis

10.3.2. Turkey New Energy Vehicle Taxi Market Outlook

10.3.2.1. Market Size & Forecast

10.3.2.1.1. By Value

10.3.2.2. Market Share & Forecast

10.3.2.2.1. By Vehicle Type Market Share Analysis

10.3.2.2.2. By Powertrain Market Share Analysis

10.3.3. Saudi Arabia New Energy Vehicle Taxi Market Outlook

10.3.3.1. Market Size & Forecast

10.3.3.1.1. By Value

10.3.3.2. Market Share & Forecast

10.3.3.2.1. By Vehicle Type Market Share Analysis

10.3.3.2.2. By Powertrain Market Share Analysis

10.3.4. UAE New Energy Vehicle Taxi Market Outlook

10.3.4.1. Market Size & Forecast

10.3.4.1.1. By Value

10.3.4.2. Market Share & Forecast

10.3.4.2.1. By Vehicle Type Market Share Analysis

10.3.4.2.2. By Powertrain Market Share Analysis

11. SWOT Analysis

11.1. Strength

11.2. Weakness

11.3. Opportunities

11.4. Threats

12. Market Dynamics

12.1. Market Drivers

12.2. Market Challenges

13. Market Trends and Developments

14. Competitive Landscape

14.1. Company Profiles (Up to 10 Major Companies)

14.1.1. Tesla Inc.

14.1.1.1. Company Details

14.1.1.2. Key Product Offered

14.1.1.3. Financials (As Per Availability)

14.1.1.4. Recent Developments

14.1.1.5. Key Management Personnel

14.1.2. 2. BYD Company Limited

14.1.2.1. Company Details

14.1.2.2. Key Product Offered

14.1.2.3. Financials (As Per Availability)

14.1.2.4. Recent Developments

14.1.2.5. Key Management Personnel

14.1.3. 3. Anhui Jianghuai Automobile Group Co., Ltd.

14.1.3.1. Company Details

14.1.3.2. Key Product Offered

14.1.3.3. Financials (As Per Availability)

14.1.3.4. Recent Developments

14.1.3.5. Key Management Personnel

14.1.4. 4. Uber Technologies Inc.

14.1.4.1. Company Details

14.1.4.2. Key Product Offered

14.1.4.3. Financials (As Per Availability)

14.1.4.4. Recent Developments

14.1.4.5. Key Management Personnel

14.1.5. Mercedes-Benz Group AG

14.1.5.1. Company Details

14.1.5.2. Key Product Offered

14.1.5.3. Financials (As Per Availability)

14.1.5.4. Recent Developments

14.1.5.5. Key Management Personnel

14.1.6. 5. BAIC Group

14.1.6.1. Company Details

14.1.6.2. Key Product Offered

14.1.6.3. Financials (As Per Availability)

14.1.6.4. Recent Developments

14.1.6.5. Key Management Personnel

14.1.7. Lyft Inc.

14.1.7.1. Company Details

14.1.7.2. Key Product Offered

14.1.7.3. Financials (As Per Availability)

14.1.7.4. Recent Developments

14.1.7.5. Key Management Personnel

14.1.8. Baidu, Inc

14.1.8.1. Company Details

14.1.8.2. Key Product Offered

14.1.8.3. Financials (As Per Availability)

14.1.8.4. Recent Developments

14.1.8.5. Key Management Personnel

14.1.9. DiDi Global Inc.

14.1.9.1. Company Details

14.1.9.2. Key Product Offered

14.1.9.3. Financials (As Per Availability)

14.1.9.4. Recent Developments

14.1.9.5. Key Management Personnel

14.1.10. Bolt Operations OÜ

14.1.10.1. Company Details

14.1.10.2. Key Product Offered

14.1.10.3. Financials (As Per Availability)

14.1.10.4. Recent Developments

14.1.10.5. Key Management Personnel

15. Strategic Recommendations

15.1. Key Focus Areas

15.1.1. Target Regions

15.1.2. Target Vehicle Type

15.1.3. Target Type

16. About Us & Disclaimer

Figures and Tables

Frequently asked questions

What was the market size of the Global New Energy Vehicle Taxi Market in 2023?

The market size of the Global New Energy Vehicle Taxi Market was estimated to be USD 101.22 billion in 2023.

Which was the fastest growing segment By Powertrain Type in the Global New Energy Vehicle Taxi Market in 2023?

Battery Electric Vehicles (BEVs) were the fastest-growing segment by powertrain type in the Global New Energy Vehicle Taxi Market in 2023. This growth was driven by increasing environmental regulations, advancements in battery technology, and rising consumer demand for zero-emission transportation. BEVs gained significant traction due to their efficiency and sustainability benefits.

Which was the largest market by region in the Global New Energy Vehicle Taxi Market?

North America was the largest market by region in the Global New Energy Vehicle Taxi Market. This leadership was driven by substantial investments in EV infrastructure, supportive government policies, and a growing consumer preference for eco-friendly transportation. The region's focus on reducing emissions and advancing technology further fueled its leading position.

What are the major drivers for the Global New Energy Vehicle Taxi Market?

The major drivers for the Global New Energy Vehicle Taxi Market include supportive government policies and incentives for electric vehicles, advancements in battery technology and charging infrastructure, and growing consumer demand for environmentally friendly transportation options. Additionally, increasing urbanization and efforts to reduce greenhouse gas emissions are further fueling market growth.

Related Reports

Srishti Verma

Business Consultant

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Press Release

New Energy Vehicle Taxi Market to Grow 5.18% CAGR through to 2029

Jul, 2024

Advancements in Battery Technology, Changing Consumer Preferences are factors driving the Global New Energy Vehicle Taxi market in the forecast period.

New Energy Vehicle Taxi Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented, By Powertrain (Battery Electric, Hybrid, and Plug-in Hybrid Electric), By Vehicle Type (Hatchback, SUV and Sedan), By Region, Competition 2019-2029F

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