Electric Vehicle (EV) Taxi Market
Global Electric Vehicle (EV) Taxi Market Size, Share & Trends Analysis Report by Propulsion Type (Battery Electric Vehicle (BEV), Hybrid Electric Vehicle (HEV), and Plug-In Hybrid Electric Vehicle (PHEV)), and by Vehicle Type (Two-Wheeler Taxi, Three Wheeler Taxi, and Four Wheeler Taxi) Forecast Period (2022-2028) Update Available - Forecast 2024-2030
The global electric vehicle (EV) taxi market is anticipated to grow at a significant CAGR of 14.1% during the forecast period. One of the major factors that are fueling the market includes the growing demand for electric vehicles across the globe. The growing awareness about the environment, the importance of electrification of vehicles, and the rising fuel prices have increased the demand for electric vehicles in the past few years, which has also increased the demand for electric vehicles in the taxi sector. EV charging is much more affordable than fuel and suitable for in-city rides which enhances EVs’ compatibility with the taxi sector. For instance, as per the data of the International Energy Agency (IEA) 2020, the sales of EV cars increased by more than 40% as compared to the sales of EV cars in 2019. Furthermore, in November 2020, Didi Chuxing, a Chinese ride-hailing company, launched its first EV manufactured for ride-sharing as the company planned to rise ride-sharing from 3% of total mobility services to 30% by 2030.
Segmental Outlook
The global electric vehicle (EV) taxi market is segmented based on propulsion type and vehicle type. Based on the propulsion type, the market is segmented into battery electric vehicles (BEV), hybrid electric vehicles (HEV), and plug-in hybrid electric vehicles (PHEV). Based on the vehicle type, the market is sub-segmented into two-wheeler taxis, three-wheeler taxis, and four-wheeler taxis. The above-mentioned segments can be customized as per the requirements. Based on propulsion, battery electric vehicle (BEVs) is anticipated to hold a prominent share in the market owing to their simplicity and cheaper after-sale expanses while based on vehicle type, the four-wheeler segment is anticipated to grow significantly during the forecast period owing to the available market players which are actively participating by launching new EVs and partnering with taxi service providers.
The Battery Electric Vehicle (BEVs) Segment is Anticipated to Hold a Prominent Share in the Market
Based on propulsion, battery electric vehicle (BEVs) is anticipated to hold a prominent share in the market during the forecast period owing to their simplicity and cheaper after-sale expanses. Other than BEV, both hybrids, HEV, and PHEV are much more complex as compared to the BEV since it relies on two power sources, which require much more maintenance, and consumes fuel as well which makes them much more expensive. Such factors have inclined the taxi sector to opt for BEVs as compared to HEVs, and PHEVs. As per the data of IEA 2020, out of the total electric cars, 3,346,713 electric vehicles are hybrid while 6,850,327 vehicles are battery electric.
Regional Outlooks
The global electric vehicle (EV) taxi market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. Asia-Pacific region is anticipated to hold a prominent share in the electric vehicle (EV) taxi market, globally, while North America is anticipated to grow significantly during the forecast period owing to the presence of key market players.
Global Electric Vehicle (EV) Taxi Market Growth, by Region 2022-2028
The Asia-Pacific Region Anticipated to Hold the Prominent Share in the Global Electric Vehicle (EV) Taxi Market
Based on region, the Asia-Pacific region is anticipated to hold the prominent share in the electric vehicle (EV) taxi market, globally, during the forecast period owing to the presence of emerging countries such as China, India, Japan, South Korea, and others. The region is the most populous and has major vehicle market players such as Toyota, Honda, Nio, Tata, and others. This has increased the sales of electric vehicles in the region exponentially and has great future potential for future electric vehicle sales, especially in the taxi industry which is also one of the core industries for daily transport in the region. As per the data of IEA 2020, out of the total EV car stock of 10,228,265 units, China has 4,514,114 EV car stocks which are more than 44% of the total EV car stocks.
Market Players Outlook
The major companies serving the global electric vehicle (EV) taxi market include A to Z Universal Solutions Pvt. Ltd. (eee-Taxi), Blu-Smart Mobility Pvt Ltd., Connexxion, OLA Group, Travel Electric BV, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in October 2021, Tata Motors informed that it had received a 3,500 XPRES-T EV units order from electric ride-hailing platform BluSmart Mobility. The company stated that it had inked a Memorandum of Understanding (MoU) with BluSmart Mobility for supplying such numbers of units.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global electric vehicle (EV) taxi market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. A to Z Universal Solutions Pvt. Ltd. (eee-Taxi)
3.1.1.1. Overview
3.1.1.2. Financial Analysis
3.1.1.3. SWOT Analysis
3.1.1.4. Recent Developments
3.1.2. Blu-Smart Mobility Pvt Ltd.
3.1.2.1. Overview
3.1.2.2. Financial Analysis
3.1.2.3. SWOT Analysis
3.1.2.4. Recent Developments
3.1.3. Connexxion
3.1.3.1. Overview
3.1.3.2. Financial Analysis
3.1.3.3. SWOT Analysis
3.1.3.4. Recent Developments
3.1.4. OLA Group
3.1.4.1. Overview
3.1.4.2. Financial Analysis
3.1.4.3. SWOT Analysis
3.1.4.4. Recent Developments
3.1.5. Travel Electric BV
3.1.5.1. Overview
3.1.5.2. Financial Analysis
3.1.5.3. SWOT Analysis
3.1.5.4. Recent Developments
3.2. Key Strategy Analysis
4. Market Segmentation
4.1. Global Electric Vehicle (EV) Taxi Market by Propulsion Type
4.1.1. Battery Electric Vehicle (BEV)
4.1.2. Hybrid Electric Vehicle (HEV)
4.1.3. Plug-In Hybrid Electric Vehicle (PHEV)
4.2. Global Electric Vehicle (EV) Taxi Market by Vehicle Type
4.2.1. Two-Wheeler Taxi
4.2.2. Three-Wheeler Taxi
4.2.3. Four-Wheeler Taxi
5. Regional Analysis
5.1. North America
5.1.1. US
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Akaris AG (Tesla Taxi Service)
6.2. Amazon, Inc.
6.3. Baidu, Inc.
6.4. BYD Motors Inc.
6.5. Daimler AG
6.6. Didi Chuxing Technology Co.
6.7. JAC Motors SA
6.8. Lyft platforms and services
6.9. Prakriti E Mobility Pvt. Ltd.
6.10. Uber Technologies Inc.
1. GLOBAL ELECTRIC VEHICLE (EV) TAXI MARKET RESEARCH AND ANALYSIS BY PROPULSION TYPE, 2021-2028 ($ MILLION)
2. GLOBAL BATTERY ELECTRIC VEHICLE (EV) TAXI MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL HYBRID ELECTRIC VEHICLE (EV) TAXI MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL PLUG-IN HYBRID ELECTRIC VEHICLE (EV) TAXI MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
5. GLOBAL ELECTRIC VEHICLE (EV) TAXI MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2021-2028 ($ MILLION)
6. GLOBAL TWO-WHEELER ELECTRIC VEHICLE (EV) TAXI MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL THREE-WHEELER ELECTRIC VEHICLE (EV) TAXI MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
8. GLOBAL FOUR-WHEELER ELECTRIC VEHICLE (EV) TAXI MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL ELECTRIC VEHICLE (EV) TAXI MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
10. NORTH AMERICAN ELECTRIC VEHICLE (EV) TAXI MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
11. NORTH AMERICAN ELECTRIC VEHICLE (EV) TAXI MARKET RESEARCH AND ANALYSIS BY PROPULSION TYPE, 2021-2028 ($ MILLION)
12. NORTH AMERICAN ELECTRIC VEHICLE (EV) TAXI MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2021-2028 ($ MILLION)
13. EUROPEAN ELECTRIC VEHICLE (EV) TAXI MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
14. EUROPEAN ELECTRIC VEHICLE (EV) TAXI MARKET RESEARCH AND ANALYSIS BY PROPULSION TYPE, 2021-2028 ($ MILLION)
15. EUROPEAN ELECTRIC VEHICLE (EV) TAXI MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2021-2028 ($ MILLION)
16. ASIA-PACIFIC ELECTRIC VEHICLE (EV) TAXI MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
17. ASIA-PACIFIC ELECTRIC VEHICLE (EV) TAXI MARKET RESEARCH AND ANALYSIS BY PROPULSION TYPE, 2021-2028 ($ MILLION)
18. ASIA-PACIFIC ELECTRIC VEHICLE (EV) TAXI MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2021-2028 ($ MILLION)
19. REST OF THE WORLD ELECTRIC VEHICLE (EV) TAXI MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
20. REST OF THE WORLD ELECTRIC VEHICLE (EV) TAXI MARKET RESEARCH AND ANALYSIS BY PROPULSION TYPE, 2021-2028 ($ MILLION)
21. REST OF THE WORLD ELECTRIC VEHICLE (EV) TAXI MARKET RESEARCH AND ANALYSIS BY VEHICLE TYPE, 2021-2028 ($ MILLION)
1. GLOBAL ELECTRIC VEHICLE (EV) TAXI MARKET SHARE BY PROPULSION TYPE, 2021 VS 2028 (%)
2. GLOBAL BATTERY ELECTRIC VEHICLE (EV) TAXI MARKET SHARE BY REGION, 2021 VS 2028 (%)
3. GLOBAL HYBRID ELECTRIC VEHICLE (EV) TAXI MARKET SHARE BY REGION, 2021 VS 2028 (%)
4. GLOBAL PLUG-IN HYBRID ELECTRIC VEHICLE (EV) TAXI MARKET SHARE BY REGION, 2021 VS 2028 (%)
5. GLOBAL ELECTRIC VEHICLE (EV) TAXI MARKET SHARE BY VEHICLE TYPE, 2021 VS 2028 (%)
6. GLOBAL TWO-WHEELER ELECTRIC VEHICLE (EV) TAXI MARKET SHARE BY REGION, 2021 VS 2028 (%)
7. GLOBAL THREE-WHEELER ELECTRIC VEHICLE (EV) TAXI MARKET SHARE BY REGION, 2021 VS 2028 (%)
8. GLOBAL FOUR-WHEELER ELECTRIC VEHICLE (EV) TAXI MARKET SHARE BY REGION, 2021 VS 2028 (%)
9. GLOBAL ELECTRIC VEHICLE (EV) TAXI MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
10. US ELECTRIC VEHICLE (EV) TAXI MARKET SIZE, 2021-2028 ($ MILLION)
11. CANADA ELECTRIC VEHICLE (EV) TAXI MARKET SIZE, 2021-2028 ($ MILLION)
12. UK ELECTRIC VEHICLE (EV) TAXI MARKET SIZE, 2021-2028 ($ MILLION)
13. FRANCE ELECTRIC VEHICLE (EV) TAXI MARKET SIZE, 2021-2028 ($ MILLION)
14. GERMANY ELECTRIC VEHICLE (EV) TAXI MARKET SIZE, 2021-2028 ($ MILLION)
15. ITALY ELECTRIC VEHICLE (EV) TAXI MARKET SIZE, 2021-2028 ($ MILLION)
16. SPAIN ELECTRIC VEHICLE (EV) TAXI MARKET SIZE, 2021-2028 ($ MILLION)
17. REST OF EUROPE ELECTRIC VEHICLE (EV) TAXI MARKET SIZE, 2021-2028 ($ MILLION)
18. INDIA ELECTRIC VEHICLE (EV) TAXI MARKET SIZE, 2021-2028 ($ MILLION)
19. CHINA ELECTRIC VEHICLE (EV) TAXI MARKET SIZE, 2021-2028 ($ MILLION)
20. JAPAN ELECTRIC VEHICLE (EV) TAXI MARKET SIZE, 2021-2028 ($ MILLION)
21. SOUTH KOREA ELECTRIC VEHICLE (EV) TAXI MARKET SIZE, 2021-2028 ($ MILLION)
22. REST OF ASIA-PACIFIC ELECTRIC VEHICLE (EV) TAXI MARKET SIZE, 2021-2028 ($ MILLION)
23. REST OF THE WORLD ELECTRIC VEHICLE (EV) TAXI MARKET SIZE, 2021-2028 ($ MILLION)
