BOULDER, Colo. (Jan. 15, 2014) — A recent report from Navigant Consulting Inc. estimates nearly 350,000 light, medium and heavy duty hybrid and electric trucks will be sold in the global commercial fleet market from 2013 through 2020.
Navigant's research division said while hybrid, plug-in hybrid and battery electric drivetrains have already penetrated the light duty passenger vehicle market, the commercial truck market has proved to be more of a challenge. Although government stimulus spending from 2008 to 2011 spurred research and development, production and deployment of hybrid and plug-in commercial trucks, demand only recently has begun to grow, the Boulder-based research firm said.
"Hybrid and electric truck market growth has slowed since 2011," said Lisa Jerram, senior research analyst with Navigant Research.
"Since then, fleet managers have been learning which routes get the most fuel savings benefit and which don't offer a fast enough payback to justify the price premium. While interest is picking up again, especially in North America, this market still relies on subsidies to offset substantial price premiums over conventional trucks or even natural gas vehicles."
In addition to expanded availability of lower priced vehicles, the keys to growth in this market, according to the report, will be rising prices for conventional fuels and added value to fleet operators from, for example, using vehicle batteries to provide onsite power and to eliminate engine idling.
The report, "Hybrid and Electric Trucks," analyzes the global market for hybrid electric vehicle, plug-in hybrid electric vehicle and battery electric vehicle trucks.
Navigant said the report provides an analysis of the market issues associated with the light duty (Class 2 equivalent), medium duty and heavy duty vehicle segments for these technologies, as well as government policies and regulations affecting the market.
Global market forecasts, broken out by vehicle segment, drivetrain, and region extend through 2020. The report also examines the different types of end uses for each technology, elements of the hybrid and electric drive system, competing technologies and the key players in the market.
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