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.
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.
Browse the full China New Energy Vehicle (NEV) Taxi (By Ownership (Company-owned NEV Taxis and Privately-owned NEV Taxis), By Range (Short Range NEV Taxis and Long Range NEV Taxis) Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023 report at http://www.credenceresearch.com/report/china-new-energy-vehicle-nev-taxi-market
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.
In spite of the government initiatives, the new energy vehicle taxi market in China did not receive the necessary push in the early years. This had majorly to do with the local protectionism that prevented healthy competition from international and non-local new energy vehicle taxi manufacturers. However, new energy vehicle taxi manufacturers like BYD Company have shown intent to breach local protectionism. China’s aspiration to become a global leader in new energy vehicles by 2022 would require a transformation in expectations and approaches adopted by stakeholders across the electric vehicle value chain. The new energy vehicle manufacturers, infrastructure providers, and the central government should work in a close association for devising winning imperatives for the new energy vehicle segment.
Electric Motors Market By Type (AC & DC Motors), Output Capacity (Low, Medium, High Voltage Motors), Application (Automobile, HVAC Equipment, Industrial Application, Aerospace and Defense, Utilities, Commercial Sectors), Energy Efficiency Class (IE1, IE2, IE3, Below IE1 Class Motors) – Growth, Share, Opportunities & Competitive Analysis, 2015 – 2022
Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task.
Who we are
Credence Research is a worldwide firm, containing more than 15 research consultants and almost 100 research and information professionals.
Our customers mirror our worldwide nature. Around 45% are in Europe, 30% in the Americas, 13% in Asia Pacific and 12% in the Middle East and Africa.
Our firm is intended to work as one. We are a solitary global research organization united by a solid arrangement of qualities, concentrated on customer effect.
What we do
We serve customers at each level of their organization, in whatever limit we can be most helpful, whether as a trusted counsel to top management or as a hands-on mentor for forefront representatives. For each engagement, we collect a group with the most suitable experience and ability.
No matter the challenge, we concentrate on delivering functional and persevering results, and preparing our customers to develop and lead. We join forces with customers to place suggestions into practice. Our research specialist work straightforwardly with customers over long stretches to create workforce aptitudes, drive operational change, and apply new working strategies.
Web: Credence Research
Company Name: Credence Research
Contact Person: Chris Smith, Global Sales Manager
Address:105 N 1st ST #429
City: SAN JOSE
Country: United States
Syndicated from GetNews
This post has been seen 87 times.