Published on January 13, 2014

Growth expected in plug-in electric vehicles

(Tire Business file photo)
According to a report from Navigant Research, plug-in electric vehicles like the Nissan Leaf are available in all North American markets.

BOULDER, Colo. (Jan. 13, 2014) — As the market for plug-in electric vehicles (PEVs) in North America matures, recent research by Navigant Consulting Inc. found that, by 2022, even the least populated states will see cumulative PEV sales in the thousands.

Boulder-based Navigant said that means a total of nearly 2.6 million PEVs will be sold nationwide between 2013 and 2022. According to the report, the highest rates of PEV growth can be found in predictable places: California, New York and Florida, which have among the highest gasoline prices in the U.S. Significant sales are also occurring, however, in more surprising locales, it said, such as North Carolina and Texas.

"In both Canada and the U.S., the market for plug-in electric vehicles is expanding rapidly as these vehicles become more widely available," said David Alexander, senior research analyst with Navigant Research. "Overall, sales of PEVs in North America are expected to expand at a significantly higher rate in the next 10 years than that of the general light duty vehicle market."

While PEVs were difficult to come by in certain states and provinces in previous years, the most popular models—the Chevy Volt and Nissan Leaf—are now available in all North American markets, and Navigant said competitive vehicles are either available or soon to appear from many major auto makers including Ford, Mercedes Benz, Toyota, Mitsubishi, Honda, Fiat and Tesla. This growth is supported, according to the report, by the increasing availability of charging infrastructure, which is helping to alleviate motorists' anxiety about their vehicles' range.

The report, "Electric Vehicle Geographic Forecasts," provides data and forecasts for the PEV market for U.S. states, metropolitan areas and utility service territories, and for Canadian provinces and cities. The study provides sales forecasts from 2013 to 2022 at each geographic level and analysis of major trends in the forecasts. Percentage penetration and cumulative sales data also are provided.

Navigant Research provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, the company focuses on in-depth analysis and reporting about global clean technology markets. Its research methodology combines supply-side industry analysis, end-user primary research and demand assessment as well as examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation and Smart Buildings sectors, according to the firm.

Comments

Loading Comments Loading comments...