![New Energy Vehicle (NEV) Taxi Market Trends](https://ttalkus.com/wp-content/uploads/2023/04/New-Energy-Vehicle-NEV-Taxi-Market.jpg)
The ‘Global New Energy Vehicle (NEV) Taxi Market Trends, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global new energy vehicle (NEV) taxi market, assessing the market on the basis of its segments like types, ranges, and major regions.
New energy vehicle (NEV) taxi is cheaper, faster, and is incorporated with smart technologies. The increasing transition towards cost-effective rides is driving the demand for these vehicles. The increasing incorporation of information and communications technology in these vehicles are further enhancing the consumer comfort, especially among geriatrics and women, which is propelling the market growth.
Over the forecast period, the growing research and development activities by the major market players aimed towards producing lightweight, efficient, and technologically advanced NEVs are likely to bolster the new energy vehicle (NEV) taxi market development. In addition to this, the technological advancements in the new energy vehicles are likely to reduce the cost of production and mature the upgradations of battery technology. These developments are anticipated to add to the market growth in the forecast period.
In terms of region, the Asia Pacific region accounts for a significant share in the market owing to the high new energy vehicle (NEV) production capacity in emerging economies such as China. Moreover, the favourable regulations of the Chinese government aimed towards encouraging the development of NEVs are further providing impetus to the market growth in the region.
The strong foothold of tech giants, coupled with the robust growth in the automotive industry of the country is accelerating the market growth. From January 2021 to October 2021, the production of NEVs in China was up by 180%. Hence, the growth of new energy vehicles (NEV) in these countries are likely to add to the new energy vehicle (NEV) taxi market growth in the region.
New Energy Vehicle (NEV) Taxi Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include: Market Overview (2018-2028) Forecast CAGR (2023-2028): 1.8%Report Attribute | Details |
Historical Period | 2017-2021 |
Forecast Period | 2022-2027 |
Base Year | 2021 |
Growth Rate CAGR | 1.8% |
Major Players | Uber Technologies Inc., Lyft Inc., Electric Cab North America, Blu-Smart Mobility Pvt. Ltd., and London EV Company Ltd., among others |