By 2020, the global taxi market is expected to reach approximately million vehicles, growing at a compound average growth rate (CAGR) of approximately %.
Hybrid and electric vehicles (EVs) are expected to have strong penetration in at least 8 nations by 2020. More than % of the vehicles in the global taxi fleet to be electric by 2020.
The global taxi fleet is expected to have over million natural gas taxis by 2020. Emerging economies to be the biggest markets; close to% of the taxi fleet in BRIC nations are expected to be natural gas taxis.*
The City of Paris was the first local regulatory authority to launch an eHail app, “Paris Taxi Pro” in 2014. By 2020, at least more cities are expected to follow suit.
Over 4 key original equipment manufacturers (OEMs) have launched wheelchair-accessible vehicle (WAV) taxi models. By 2020 another WAV platforms are expected in the market.
By 2020, autonomous shared taxi pilots are expected in North America (a semi-restricted environment) and Europe (a restricted environment), with full-fledged projects launching between 2022 and 2025.
About this report
Growth in the taxi market is expected to be driven by government intervention, particularly with respect to regulations and subsidies to shift to greener technologies. The adoption of alternate fuels is rising as cities begin enforcing more stringent emission regulations to control pollution. The advent of eHailing has changed customer perceptions of taxi commutes and has provided an easier alternative to street hailing. This study introduces the different market segments that have developed, and discusses automotive Mega Trends and their impact on this market. In addition, it highlights the key technology trends and analyzes the new market channel strategies adopted by key vehicle OEMs.
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