PEV market growth coming, but it won't be a rush

Tools

By: SGN Staff

The rollout for plug-in electric vehicles has seen lukewarm sales, but the market for them is expected to grow in the next five years. A new report from IDC Energy Insights forecasts that over 207,000 PEVs will be sold globally in 2012 and that figure will increase to more than 1.5 million in 2017, with cumulative sales at a little less than 5 million.

 

"We expect almost 5 million PEVs to be sold by the end of 2017, which represents an enormous new industry segment," says Sam Jaffe, research manager for Distributed Energy Strategies. "However, it's important to note that that still represents less than 1% of the overall global vehicle fleet."

 

BEVs, all-electric vehicles powered by a battery only, are the specific topic of the IDC report that forecasts the size and timing of the rollouts in North America, Europe, Asia and the rest of the world to 2017. It addresses specific makes and models, successful and failed launches, production issues affecting sales, and other information that utilities, regulators, the auto industry and others involved will probably want to take into account.

 

A few key findings from the report, Plug-In Electric Vehicle Global Forecast 2012-2017, include:

·         While not a "smash hit," PEVs should be considered an "interesting new market niche"

·         Most manufacturers are behind in their sales projections

·         Rollouts for the three most anticipated PEVs, the Chevy Volt, the Toyotya Prius Plugin and the Nissan LEAF, were responsible for 80% of all sales in 2012 – and all three were considered successful launches

·         Utilities and government agencies anticipating a possible clustering of vehicle charging can breathe a little easier: the PEV rollout will be fairly modest for the next few years, but clustering will become a concern in two years in some cities and areas (for example, those with extremely high gas prices)

 

For more information or to order the IDC report, clink the link below.

1

Order the IDC PEV market forecast report