A Brief Research & in Depth Overlook of Nev Taxi Market 2020

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Transparency Market

Research

China New Energy Vehicle (NEV) Taxi Market Boosted

by NEV Adaption

Published Date

2014-07-07

96 Page Report

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Report

NEV Taxi Market - China Industry Analysis, Size, Share,

Growth, Trends and Forecast, 2014 - 2020

Transparency Market Research

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New Energy Vehicle 2016

REPORT DESCRIPTION

NEV Taxi Market

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. NEV [ New Energy Vehicle ] taxi refers to a

vehicle using unconventional vehicle fuels as a source of power, or a vehicle using conventional

fuels with advanced automotive propulsion systems. Taxis in China travel around 450 kilometers

on daily basis. Considering their high number and long working hours, introduction of new energy

vehicle taxis in China offer an opportunity to limit fuel consumption and curb emissions.

Government support in form of financial subsidies and tax incentives coupled with advancements

in battery technology are the major factors driving this market. With rapid urbanization, the

number of vehicles in China has grown considerably, resulting in increased air pollution, and fuel

consumption. This has necessitated the central government in China to promote the use of new

energy vehicles. In spite of these growth factors, absence of comprehensive charging

infrastructures and high cost of batteries have collectively inhibited the growth of NEV taxis in

China. However, their lies tremendous opportunity for growth of new energy vehicles in China,

especially, in the field of V2G (Vehicle-to-Grid) and battery swapping technology. Moreover, use

of REEVs (Range Extended Electric...