Plug-in Electric Vehicles will Grow

November 30, 2012

Plug-in electric vehicles will grown to 3.2 million worldwide by 2015 according to a new report from the market research and consulting firm Pike Research.

Worldwide adoption of plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs) will grow quickly over the next five years, with sales totaling 3.2 million between 2010 and 2015. PHEVs and BEVs will complement, rather than [displace], the market for conventional hybrid electric vehicles,? said Dave Hurst, Pike Research senior analyst.

Electric vehicles will follow the lead of hybrids and will be launched in the small car segment for consumer markets initially, with the small SUV segment close behind. Boulder, CO-based Pike forecasts that China will be the largest market for electric vehicles, with more than 888,000 PHEVs and BEVs sold by 2015, representing 27 percent of worldwide sales. The US will be close behind with 841,000 vehicles sold, or 26 percent of the global market.

- Service Executive 09.15.10.p6