China NEV Taxi Market to Reach US$560.5 mn by 2020 owing to Increasing Adoption of NEV

Transparency Market Research has published a new report on the China NEV taxi market. As per the report, the China NEV taxi market is predicted to expand at a 36.50% CAGR during the period from 2014 to 2020. The report, titled ‘NEV Taxi Market - China Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020,’ states that the China NEV taxi market is predicted to progress to US$560.5 mn by 2020 owing to factors such as the growing adoption of NEV, growing support from the government, and advancements in battery technology.

New energy vehicle (NEV) taxis are vehicles that use unconventional fuels as a primary source of power. NEVs may also use conventional fuels with advanced auto propulsion systems. In China, taxis travel around 450 kilometers daily. Considering the distance the taxis travel on a daily basis and the long working hours, the introduction of new energy taxis offers an opportunity to restrict the consumption of fuel and the resultant emission of greenhouse gases. With urbanization, the production of vehicles in China has grown in the recent past and is expected to grow considerably in the next five years. With this, it has become necessary for the government to promote new energy vehicles.

Thus, support from the Government of China, advancements in battery technology, and tax initiatives are predicted to propel the China NEV taxi market in the next few years. In China, most NEV taxis are owned by the state and are operated and maintained by taxi companies that receive complete support from the China government. The China NEV taxi market is segmented on the basis of ownership and taxi range. Based on ownership, the China NEV taxi market is divided into company owned and individual ownership.

In 2012, the China NEV taxi market was dominated by the company owned taxis segment, which accounted for more than 3/4th of the total NEV taxi market. With commuters giving more preference to public transport, the company owned segment is predicted to develop further.

By taxi range, the China NEV taxi market is classified into short range NEV taxis and long range NEV taxis. In 2012, short range NEV taxis accounted for the maximum share in the China NEV taxi market. Considering the many advancements in battery technology, the long range NEV segment is expected to surpass short range NEV taxis in the coming years. Some of the leading players in the China NEV taxi market are BYD Auto Co. Ltd., Anhui Jianghuai Automobile Co Ltd (JAC), Beijing Automotive Industry Holding Co. Ltd. (BAIC), Beiqi Foton Motor Co. Ltd., Changan Automobile Co. Ltd, and Dongfeng Nissan Passenger Vehicle Company.

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Factors such as safety and reliability, the absence of comprehensive charging infrastructure, and high cost of vehicles and batteries are predicted to hamper the growth of the China NEV taxi market in the years to come. However, the untapped market in China is expected to create new growth opportunities in the China NEV taxi market in the next few years. Also, sustainable electric mobility and the increasing battery swapping business in China are predicted to boost the China NEV taxi market throughout the forecast period. The increasing use of range-extended electric vehicles is expected to add new growth opportunities in the China NEV taxi market.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

NEV Taxi Market - China Industry Analysis And Forecast Up to 2020

According to a new research report recently published by Transparency Market Research, the China new energy vehicle (NEV) taxi market is expected to reach US$560.5 million at the end of the forecast period between 2014 and 2020. The research report, titled ‘NEV Taxi Market - China Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020’, states that the China new energy vehicle taxi market will grow at a 36.5% CAGR. Owing to consistent government efforts to promote NEV taxis as a means to reduce air pollution, the NEV taxi market in China is expected to grow significantly in the coming years. The report predicts the market to exhibit growth at a 36.5% CAGR during the forecast period from 2014 to 2020. In-depth analysis of NEV taxi market has been presented in the report, mentioning the key drivers, restraints, latest trends, and future opportunities in the market. To support its analysis of the growth factors for the market, the report collects crucial data related to the market, thereby presenting a comprehensive picture of the overall NEV taxi market in China.

Browse The Market Research Report of NEV Taxi Market :

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The report uses latest research techniques to study the entire value chain of the NEV taxi market. Profiling key market players and using analytical tools such as Porter’s five forces analysis and SWOT analysis, the report provides detailed information about the vendor landscape of the NEV taxi market.

Overview of the NEV Taxi Market in China

In Chinese cities such as Beijing, Shanghai, Guangzhou, and Xi’an, PM2.5 (particles with an aerodynamic diameter less than 2.5 μm) air pollution is a major concern. The concentration levels of PM2.5 in all these cities exceed WHO air quality guidelines. The report points out that to reduce pollution across the nation as well as dependence on foreign oil imports, the Chinese government has been offering high subsidies on the purchase of new energy vehicles. National and regional price subsidies on NEV taxis, with special reference to key cities such as Beijing, Shanghai, and Guangdong have been discussed in the report. The government has also started NEV taxi fleets, which will fuel the growth of the market.

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Increase in demand for long range new energy vehicles has led battery suppliers to striving to improve the technology behind it. The report provides information on some of the battery suppliers and indicates that advanced technology such as vehicle-to-grid and battery swapping technologies will create a massive opportunity for the NEV taxi market. However, the report indicates that the absence of comprehensive infrastructure along with the high cost of NEV taxis could deter the growth of the market.

The report categorizes the NEV taxi market based upon the ownership of the vehicles. A detailed analysis of individually and company-owned NEV taxis has been presented in the report. The NEV taxi market has been also segmented on the basis of range. The report predicts that the short range taxi segment is expected to grow consistently, as commuters prefer short range taxis to travel within a city. The long range taxi segment is predicted to expand thanks to advances in battery technology.

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Companies mentioned in the research report:

Mentioning the competition in China NEV Taxi market, the report points out that BYD Auto Co. Ltd. is the leading player followed by Anhui Jianghuai Automobile Co Ltd (JAC). Changan Automobile Co. Ltd, Beijing Automotive Industry Holding Co. Ltd. (BAIC), Dongfeng Nissan Passenger Vehicle Company, and Beiqi Foton Motor Co. Ltd., are some of the other key competitors in the market.

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Market Segmentation on the basis of Ownership:

• Company Owned
• Individually Owned

Market Segmentation on the basis of Taxi Range:

• Short Range NEV Taxis
• Long Range NEV Taxis

This report gives you access to decisive data such as:

• Market growth drivers
• Factors limiting market growth
• Current market trends

• Market structure
• Market projections for the coming years

Key highlights of this report

• Overview of key market forces propelling and restraining market growth
• Up-to-date analyses of market trends and technological improvements
• Pin-point analyses of market competition dynamics to offer you a competitive edge
• An analysis of strategies of major competitors
• An array of graphics and SWOT analysis of major industry segments
• Detailed analyses of industry trends
• A well-defined technological growth map with an impact-analysis
• Offers a clear understanding of the competitive landscape and key product segments

About Us :

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports

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.

Browse The Market Research Report of NEV Taxi Market :

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

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

About Us :

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our highly experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.