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Published Date: 2014-07-07Number of Pages: 96

NEV Taxi Market - China Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 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 Vehicle) is an opportunity area, especially over the next few years till the Chinese market becomes mature enough to support mass production of BEVs (Battery Electric Vehicles).

In China, majority of NEV taxis are state-owned and are operated through taxi companies that receive support from the government. In 2012, company owned NEV taxis accounted for over 3/4th of the total NEV taxi market in China. With commuters preferring public vehicles over private taxis, the dominance by company-owned taxis is expected to continue over the forecast period from 2014 to 2020. In 2012, short range (80km – 150 km) NEV taxis accounted for the majority of market share. However, with advancements in battery technology, long range NEV taxis are expected to outnumber short-range NEV taxis over the forecast period from 2014 to 2020. Major industry participants include BYD Auto Co., Ltd., Anhui Jianghuai Automobile Co Ltd (JAC), Beijing Automotive Industry Holding Co., Ltd. (BAIC), Changan Automobile Co., Ltd, Beiqi Foton Motor Co., Ltd. and Dongfeng Nissan Passenger Vehicle Company among others.

china-nev-taxi-market


Chapter 1 Preface
1.1 Report description
1.2 Research scope
1.3 Research methodology

Chapter 2 Executive Summary

Chapter 3 NEV Taxi Market Overview
3.1 Introduction
3.2 Total number of taxis in China by region, 2013
       3.2.1 Total number of taxis in China, 2012 – 2020
3.3 NEV policies and subsidies in China (by region)
       3.3.1 Overview of national and regional price subsidies in China
       3.3.2 Beijing
       3.3.3 Shanghai
       3.3.4 Guangdong
       3.3.5 Taiwan
       3.3.6 Others (Jilin, Anhui, Liaoning, Heilongjiang, Zhejiang etc.)
3.4 China electric vehicle battery OEMs
3.5 Battery specification overview for China market
3.6 Information on battery suppliers
       3.6.1 Zhejiang Wanxiang Group
       3.6.2 Beijing Pride Power System Technology Limited.
       3.6.3 CITIC Guoan MGL New Energy Technology Co., Ltd.
3.7 Taxi companies in China
3.8 Market trends and future outlook
       3.8.1 Specific NEV taxi sales target
3.9 Market dynamics
       3.9.1 Drivers
                3.9.1.1 Government support and favorable government policies
                3.9.1.2 Increased traffic congestion leading to air quality issues
                3.9.1.3 Oil price and independence
                3.9.1.4 Advancements in battery technology
       3.9.2 Restraints
                3.9.2.1 Absence of comprehensive charging infrastructure
                3.9.2.2 Cost of vehicles/batteries
                3.9.2.3 Safety and reliability
       3.9.3 Opportunities
                3.9.3.1 Sustainable electric mobility
                           3.9.3.1.1 Methodology
                3.9.3.2 Use of battery swap model
                            3.9.3.2.1 Battery swapping business status in China
                3.9.3.3 Vehicle-to-Grid (V2G) technology
                3.9.3.4 Use of Range-Extended Electric Vehicles (REEVs)
3.10 Porters five force analysis
        3.10.1 Bargaining power of suppliers
        3.10.2 Bargaining power of buyers
        3.10.3 Threat of substitute products
        3.10.4 Threat of new entrants
        3.10.5 Degree of competition
3.11 Value chain analysis
3.12 Competitive analysis, 2013
        3.12.1 Leading NEV taxi operating companies in China
                  3.12.1.1 Pengcheng Electric Vehicle Taxi Co. Ltd.
                               3.12.1.1.1 Business overview:
                  3.12.1.2 Fangshan Fangan Taxi Company
                               3.12.1.2.1 Business overview
                  3.12.1.3 Tong Hui Jie Electric Taxi Company
                               3.12.1.3.1 Business overview
                  3.12.1.4 Beijing Guichuan Taxi Co., Ltd.
                               3.12.1.4.1 Business overview
                  3.12.1.5 Nanjing Jiangnan Electric Taxi Ltd.
                               3.12.1.5.1 Business overview
3.13 Market attractiveness by taxi range, 2013

Chapter 4 China NEV Taxi Market, by Owner Type
4.1 Introduction
      4.1.1 China NEV taxi market, by owner type, 2013 & 2020 (%)
4.2 Company owned
      4.2.1 China company owned NEV taxi market, 2012 – 2020
4.3 Individually owned
      4.3.1 China individually owned NEV taxi market, 2012 - 2020

Chapter 5 China NEV Taxi Market, by Taxi Range
5.1 Introduction
      5.1.1 China NEV taxi market, by taxi range, 2013 & 2020 (%)
5.2 Short range
      5.2.1 China short range NEV taxi market, 2012 – 2020
5.3 Long range
      5.3.1 China long range NEV taxi market, 2012 – 2020

Chapter 6 Company Profiles
6.1 BYD Auto Co., Ltd.
      6.1.1 Company overview
      6.1.2 Financial overview
      6.1.3 Product specification (NEV Taxi)
      6.1.4 SWOT analysis
      6.1.5 Business strategy
              6.1.5.1 Focus on research and development
              6.1.5.2 Growth through inorganic expansion
      6.1.6 Recent developments
6.2 Anhui Jianghuai Automobile Co., Ltd
      6.2.1 Company overview
      6.2.2 Financial overview
      6.2.3 Product specification (NEV Taxi)
      6.2.4 SWOT analysis
      6.2.5 Business strategy
              6.2.5.1 Innovation and new product development
              6.2.5.2 Focus on research and development
      6.2.6 Recent developments
6.3 Beijing Automotive Industry Holding Co., Ltd
      6.3.1 Company overview
      6.3.2 Financial overview
      6.3.3 Product specification (NEV Taxi)
      6.3.4 SWOT analysis
      6.3.5 Business strategy
              6.3.5.1 Growth through strategic partnerships and focus on R&D
      6.3.6 Recent developments
6.4 Beiqi Foton Motor Co., Ltd.
      6.4.1 Company overview
      6.4.2 Financial overview
      6.4.3 Product specification (NEV Taxi)
      6.4.4 SWOT analysis
      6.4.5 Business strategy
              6.4.5.1 Business Expansion
      6.4.6 Recent developments
6.5 Chongqing Changan Automobile Company Limited
      6.5.1 Company overview
      6.5.2 Financial overview
      6.5.3 Product specification (NEV Taxi)
      6.5.4 SWOT analysis
      6.5.5 Business strategy
              6.5.5.1 Business expansion through strong R&D capabilities
      6.5.6 Recent developments
6.6 ZAP Jonway, Inc.
      6.6.1 Company overview
      6.6.2 Financial overview
      6.6.3 Business strategy
              6.6.3.1 New product development
              6.6.3.2 Focus on expanding sales distribution network
      6.6.4 SWOT analysis
      6.6.5 Recent developments
6.7 Dongfeng Nissan Passenger Vehicle Company
      6.7.1 Company overview
      6.7.2 Financial overview
      6.7.3 Product specification (NEV Taxi)
      6.7.4 SWOT analysis
      6.7.5 Business strategy
              6.7.5.1 Focus on investments for technological innovations
      6.7.6 Recent developments
6.8 Zhejiang Geely Holding Group Co., Ltd.
      6.8.1 Company overview
      6.8.2 Financial Overview
      6.8.3 Product specification (NEV Taxi)
      6.8.4 Business strategy
              6.8.4.1 Focus on research and development
      6.8.5 SWOT analysis
      6.8.6 Recent developments
6.9 China FAW Group Corporation
      6.9.1 Company overview
      6.9.2 Financial Overview
      6.9.3 Product specification (NEV Taxi)
      6.9.4 SWOT analysis
      6.9.5 Business strategy
              6.9.5.1 Investment in research and development
              6.9.5.2 Increasing production capacity
      6.9.6 Recent developments

List of Figures 

FIG. 1 Market segmentation: China NEV Taxi Market
FIG. 2 China NEV taxi market, 2012 – 2020 (USD Million) (Units)
FIG. 3 Number of taxis in China, 2012 – 2020 (million units)
FIG. 4 Oil consumption and production in China, 2008 – 2013
FIG. 5 Gasoline demand in China (Based on Auto sales), 2008 – 2012
FIG. 6 Lithium-ion battery selling price, 2011- 2017 (USD/kWh)
FIG. 7 Number of charging points, by cities, 2011
FIG. 8 Number of charging stations, by cities, 2011
FIG. 9 Number of charging stations, 2012 - 2015
FIG. 10 China NEV taxi: Porters five forces analysis
FIG. 11 Value chain analysis of the NEV taxi market in China
FIG. 12 Market share of leading NEV taxi manufacturers in China, 2013
FIG. 13 China NEV taxi market attractiveness, by taxi range
FIG. 14 China NEV taxi market, by owner type, 2013 & 2020 (%)
FIG. 15 China company owned NEV taxi market, 2012 - 2020
FIG. 16 China individually owned NEV taxi market, 2012 - 2020
FIG. 17 China NEV taxi market, by taxi range, 2013 & 2020 (%)
FIG. 18 China short range NEV taxi market, 2012 - 2020
FIG. 19 China long range NEV taxi market, 2012 - 2020
FIG. 20 BYD Company Ltd annual revenue, 2011 – 2013 (USD billion)
FIG. 21 Anhui Jianghuai Automobile Co., Ltd annual revenue, 2010 – 2012 (USD billion)
FIG. 22 Beijing Automotive Industry Holding Co., Ltd. annual revenue, 2011 – 2012 (USD billion)
FIG. 23 Beiqi Foton Motor Co., Ltd. annual revenue, 2010-2012, (USD Billion)
FIG. 24 Changan Automobile Company Limited annual revenue, 2010-2012, (USD Billion)
FIG. 25 Zap Jonway, Inc., 2010-2012, (USD million)
FIG. 26 Dongfeng Nissan Passenger Vehicle Company, 2010-2012, (USD billion)
FIG. 27 Zhejiang Geely Holding Group Co., Ltd. annual revenue, 2010 – 2012 (USD Billion)

List of Tables

TABLE 1 China NEV taxi market snapshot
TABLE 2 New Energy Vehicle sales in China
TABLE 3 Ratio of total number of taxis to population in different provinces
TABLE 4 Infrastructure promotion policies for new energy vehicles
TABLE 5 Tax subsidies policies for new energy vehicles
TABLE 6 Overview of national and regional subsidies
TABLE 7 Electric Vehicle Battery Manufacturers in China
TABLE 8 Battery specification overview
TABLE 9 Information  on Zhejiang Wanxiang Group
TABLE 10 Information on Beijing Pride Power System Technology Limited
TABLE 11 Information on CITIC Guoan MGL New Energy Technology Co., Ltd
TABLE 12 Taxi companies in China
TABLE 13 Roadmap of new energy vehicles in China, 2009 - 2020
TABLE 14 NEV taxi sales target
TABLE 15 Impact analysis of drivers
TABLE 16 Carbon dioxide emissions from the consumption of energy
TABLE 17 Carbon dioxide emissions from the consumption of petroleum
TABLE 18 Impact analysis of restraints
TABLE 19 Number of charging stations and charging piles in China, 2012 and 2013
TABLE 20 Profit earned with NEV taxis
TABLE 21 Suppliers of battery swapping technology in China
TABLE 22 Product specification of e6 EV model (NEV Taxi)
TABLE 23 Product specification of  iEV model (NEV Taxi)
TABLE 24 Product specification of  E150 EV model (NEV Taxi)
TABLE 25 Product specification of  Midi EV model (NEV Taxi)
TABLE 26 Product specification of E30 EV model (NEV Taxi)
TABLE 27 Product specification of Venucia E30 model (NEV Taxi)
TABLE 28 Product specification of EK-2 EV model (NEV Taxi)
TABLE 29 Product specification of Besturn B50 EV model (NEV Taxi)


Owing to consistent government efforts to promote NEV taxis as a means to reduce air pollution, the NEV taxi market in China is expected to grow significantly in the coming years. The report predicts the market to exhibit growth at a 36.5% CAGR during the forecast period from 2014 to 2020. In-depth analysis of NEV taxi market has been presented in the report, mentioning the key drivers, restraints, latest trends, and future opportunities in the market. To support its analysis of the growth factors for the market, the report collects crucial data related to the market, thereby presenting a comprehensive picture of the overall NEV taxi market in China. 

The report uses latest research techniques to study the entire value chain of the NEV taxi market. Profiling key market players and using analytical tools such as Porter’s five forces analysis and SWOT analysis, the report provides detailed information about the vendor landscape of the NEV taxi market.  

Overview of the NEV Taxi Market in China

In Chinese cities such as Beijing, Shanghai, Guangzhou, and Xi’an, PM2.5 (particles with an aerodynamic diameter less than 2.5 μm) air pollution is a major concern. The concentration levels of PM2.5 in all these cities exceed WHO air quality guidelines. The report points out that to reduce pollution across the nation as well as dependence on foreign oil imports, the Chinese government has been offering high subsidies on the purchase of new energy vehicles. National and regional price subsidies on NEV taxis, with special reference to key cities such as Beijing, Shanghai, and Guangdong have been discussed in the report. The government has also started NEV taxi fleets, which will fuel the growth of the market. 

Increase in demand for long range new energy vehicles has led battery suppliers to striving to improve the technology behind it. The report provides information on some of the battery suppliers and indicates that advanced technology such as vehicle-to-grid and battery swapping technologies will create a massive opportunity for the NEV taxi market. However, the report indicates that the absence of comprehensive infrastructure along with the high cost of NEV taxis could deter the growth of the market.

The report categorizes the NEV taxi market based upon the ownership of the vehicles. A detailed analysis of individually and company-owned NEV taxis has been presented in the report. The NEV taxi market has been also segmented on the basis of range. The report predicts that the short range taxi segment is expected to grow consistently, as commuters prefer short range taxis to travel within a city. The long range taxi segment is predicted to expand thanks to advances in battery technology. 

Companies mentioned in the research report:

Mentioning the competition in China NEV Taxi market, the report points out that BYD Auto Co. Ltd. is the leading player followed by Anhui Jianghuai Automobile Co Ltd (JAC). Changan Automobile Co. Ltd, Beijing Automotive Industry Holding Co. Ltd. (BAIC), Dongfeng Nissan Passenger Vehicle Company, and Beiqi Foton Motor Co. Ltd., are some of the other key competitors in the market. 

Market Segmentation on the basis of Ownership:
  • Company Owned
  • Individually Owned
Market Segmentation on the basis of Taxi Range:
  • Short Range NEV Taxis
  • Long Range NEV Taxis
This report gives you access to decisive data such as:
  • Market growth drivers 
  • Factors limiting market growth
  • Current market trends 
  • Market structure
  • Market projections for the coming years 
Key highlights of this report
  • Overview of key market forces propelling and restraining market growth 
  • Up-to-date analyses of market trends and technological improvements
  • Pin-point analyses of market competition dynamics to offer you a competitive edge
  • An analysis of strategies of major competitors 
  • An array of graphics and SWOT analysis of major industry segments 
  • Detailed analyses of industry trends
  • A well-defined technological growth map with an impact-analysis 
  • Offers a clear understanding of the competitive landscape and key product segments


 
 
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