NEV Taxi Market - China Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020

According to a new market report “NEV Taxi Market - China Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020” published by Transparency Market Research www.transparencymarketresearch.com), the market for NEV Taxi in China is forecast to reach a value of USD 560.5 million by 2020. The market growth is driven by government support and favorable government policies to increase the adoption of NEV taxis over conventional fuel taxis. Under the confluence effect of various macro and micro economic factors, the China NEV taxi market is forecast to grow at a compounded rate of 36.5% during the period 2014 – 2020.

The report on China NEV taxi market provides insight to market size and various trends influencing the growth for the 6 years of forecast period ending 2020. Factors such as favorable government policies, growing need to improve air quality, escalating efforts to reduce China’s dependence on foreign oil, and advancements in battery technology are some of the key growth drivers. The magnitude of impact of these factors on market growth however varies from province to province.

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Beijing, Guangdong and Shanghai provinces in particular, are experiencing high growth due to rising number of government NEV taxi fleets and improving charging infrastructure. Growth across other provinces such as Taiwan, Zhejiang, Jilin and Anhui too is substantial, led by support from local governments. Long range NEV taxis are expected to gain popularity in the coming years with improvements in EV battery technology whereas; short range NEV taxis will continue to grow as they are preferred by frequent commuters for commute within a city.

The report also highlights key challenges faced by the NEV taxi market. Absences of complete and comprehensive charging infrastructure in China coupled with high cost of electric vehicles are the major factors inhibiting the growth of NEV taxis in China. However, the impact of these challenges is expected to reduce in the long term, as the government is strongly focusing on increasing the number of charging stations and offering high subsidies on the purchase of NEVs.

The report further provides analysis of the China NEV taxi market based on different types of NEV taxi ownerships. The analysis of company owned and individually owned NEV taxis along with their forecast till 2020 is covered in the report.

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In addition, the report provides competitive insights to strategies adopted by industry players and recent developments taking place, which are driving the growth trends. The revenue analysis of the industry players identifies BYD Auto Co., Ltd. as the leading player, followed by Anhui Jianghuai Automobile Co Ltd (JAC). The other leading players include Beijing Automotive Industry Holding Co., Ltd. (BAIC), Changan Automobile Co., Ltd, Beiqi Foton Motor Co., Ltd. and Dongfeng Nissan Passenger Vehicle Company among others. Apart from these major players, considerable share of the market is held by different regional and small players.

China NEV Taxi Market, by Ownership

• Company owned
• Individually owned

China NEV Taxi Market, by Taxi Range:

• Short range
• Long range

Browse Press Release of NEV Taxi Market :

http://www.transparencymarketresearch.com/pressrelease/china-nev-taxi-market.htm

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