The worldwide market for all vehicles will grow by about four percent per year over the next six years, analysts at Pike Research estimate that the electric vehicle market will grow at a rate of almost 20 percent over the same time frame.
According to the report, “Electric Vehicle Market Forecasts”, by 2017, 3.1 percent of global auto sales will be hybrid and plug-in hybrid electric vehicles.
The Pike research corroborates a 2006 study entitled “World Hybrid-Electric Vehicles to 2010” which predicted that global demand for hybrid-electric vehicles (HEVs) will grow twenty percent annually. Gains for these fuel-efficient vehicles will be driven by erratic fuel prices, increased emissions regulations and lowering HEV cost disparities. The US, Western Europe and Japan will remain the top markets, with China catching up fast.
The study reviewed market research, market share, market size, sales, demand forecast, market leaders, company profiles and industry tends.
This study analyzed the then $2.8 billion world hybrid-electric vehicle industry. It presents historical demand data for 2000 and 2005 and forecasts to 2010, 2015 and 2020 by HEV type (full hybrid, mild hybrid); by segment (passenger car, light truck); by world geographical region (e.g., North America, Western Europe, Asia/Pacific); and for 12 leading national markets.
© 2011, Richard Matthews. All rights reserved.
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