Electric Vehicle (EV) Taxi Market to See Massive Growth by 2029

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.

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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.

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• Market Coverage
• Market number available for - 2023-2029
• Base year- 2022
• Forecast period- 2023-2029
• Segment Covered- By Source, By Product Type, By Applications
• Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
• Inc., and others

Global Electric Vehicle (EV) Taxi Market Report Segment
By Propulsion Type
• Battery Electric Vehicle (BEV)
• Hybrid Electric Vehicle (HEV)
• Plug-In Hybrid Electric Vehicle (PHEV)

By Vehicle Type
• Two-Wheeler Taxi
• Three-Wheeler Taxi
• Four-Wheeler Taxi

Global Electric Vehicle (EV) Taxi Market Report Segment by Region
North America
• US
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa

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.

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