THE FUTURE OF THE PLUG-IN CAR
Electric Vehicle Market Forecasts; Global Forecasts for Light Duty Hybrid, Plug-in Hybrid, and Battery Electric Vehicles: 2012-2020
4Q 2012 (Pike Research/Navigant)
“While hybrid vehicles have been widely available for more than a dozen years, the market for plug-in electric vehicles (PEVs) has grown rapidly in the last 2 years, reaching more than 120,000 unit sales worldwide in 2012. While the market has positive momentum, it still faces hurdles…
“Despite political targets that are likely to be missed, [key assumptions, including vehicle availability, economic growth, petroleum fuel prices, government influence on the market, and the overall vehicle market] point to robust growth worldwide for electric vehicles, with hybrids growing at a compound annual growth rate (CAGR) of 6%, and PEVs (combined plug-in hybrid and battery electric) growing at a CAGR of 39% between 2012 and 2020.”
“While Japan is anticipated to be the largest market for hybrids in 2020, the United States is anticipated to be the largest market for PEVs that year.
“…European countries, with the combination of high gas prices and supportive government policies, are anticipated to have the highest concentrations of plug-in electric vehicles…”
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