According to a new market report published by Credence Research, Inc. “China New Energy Vehicle (NEV) Taxi Market (By Ownership (Company-owned NEV Taxis and Privately-owned NEV Taxis), By Range (Short Range NEV Taxis and Long Range NEV Taxis) – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023”, the china new energy vehicle taxi market is expected to expand at a double digits CAGR during the forecast period 2016 to 2023.
The purpose of the report is to illustrate the state of the market of China New Energy Vehicle (NEV) Taxi, to present actual information about the volumes of production, exports, imports, consumption and the state of the market, the changes that took place in 2017, and also, to build a forecast for the growth of the industry in the medium term until 2026.
Browse here for full report: https://www.credenceresearch.com/report/china-new-energy-vehicle-nev-taxi-market
New energy vehicles are very crucial to the economic development in China since they reduce the country’s dependence on foreign oil by curbing the overall fuel consumption. Government support in form of incentives as well as subsidies has been instrumental in driving the uptake of new energy vehicle taxis in the country. For instance, the ‘Ten Cities- Thousand Vehicles Program’ started by the central government and few other plans focusing on the emission control bodes well for the market growth. On the contrary, despite investments in battery technologies, only few vendors have achieved economies of scale and are able to supply batteries to the industry. This coupled with uneven charging infrastructure in the country has posed significant challenge to the market growth. In view of limited charging infrastructure in China, a phased introduction new energy vehicle taxis is highly recommended.
The new energy vehicle taxi market in China is highly consolidated. The leading three new energy vehicle taxi manufacturers account for around two-third of the overall market revenue. BYD Motor Company, Anhui Jianghuai Automobile Co., Ltd (JAC Motors), and Beijing Automotive Industry Holding Co., Ltd. (BAIC) are identified as the leading new energy vehicle taxi manufacturers in China. Other promising and emerging players identified in the China new energy vehicle taxi market include China FAW Group Corporation, Dongfeng Nissan Passenger Vehicle Company, Zhejiang Geely Holding Group Co., Ltd., ZAP Jonway, Inc., Chongqing Changan Automobile Co. Ltd., and Beiqi Foton Motor Co., Ltd. among others. These manufacturers fiercely compete to acquire government contracts. However, local protectionism has marred the healthy competition from non-local NEV taxi manufacturers. The market for NEV taxis in China presents significant barriers to new entrants in form of high capital. The established players have upper hand in terms of economies of scale and distribution network. All these factors make the entry of new players challenging.
Why was the report written?
This report is the result of an extensive survey drawn from Credence Research’s exclusive panel of leading global market industry executives; it provides data and analysis on buyer investment, acquisition, and developments within the global market research. It includes key topics such as global China New Energy Vehicle (NEV) Taxi buyer expenditure and procurement behaviors and strategies and recognizes the threats and possibilities within the industry, economic outlook trends, and business confidence within global industry executives. Most secondary research reports are based on general industry drivers and do not understand the industry executives’ attitude and changing behaviors, creating a gap in presenting the business outlook of the industry; in an effort to bridge this gap, Credence Research created this primary research-based report by gathering the opinions of multiple stakeholders in the value chain of the global industry.
What is the current market landscape and what is changing?
Executives from the global industry anticipate an increase in levels of consolidation, with 55% of respondents projecting an increase in merger and acquisition (M&A) activities in 2017.
The report on the market of China New Energy Vehicle (NEV) Taxi contains:
Analysis and forecast of China New Energy Vehicle (NEV) Taxi market dynamics;
Analysis of domestic production, market shares of the main market players;
Analysis of exports and imports;
Analysis of factors, leading the development of the China New Energy Vehicle (NEV) Taxi market;
Assessment and forecast of China New Energy Vehicle (NEV) Taxi market development;
Financial and business profiles of the leading companies in the China New Energy Vehicle (NEV) Taxi industry.
– Up to date working China New Energy Vehicle (NEV) Taxi data by major regions in the world, the forecast of planned capacity additions by 2026
– The annual breakdown of capital expenditure spending on proposed China New Energy Vehicle (NEV) Taxi for the period 2018 to 2026
– Planned China New Energy Vehicle (NEV) Taxi additions and capital expenditure spending by key countries and companies across the world
– Planned capital expenditure spending on new China New Energy Vehicle (NEV) Taxi projects by region, key countries, and companies
– Details of major planned China New Energy Vehicle (NEV) Taxi projects in the world up to 2026
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