by Shane Henson — May 13, 2013—FMs who are in charge of their facility’s fleet may be interested to hear that gas-powered vehicles in the United States and abroad will soon be sharing the road with even more electric vehicles (EV), as a total of 21.9 million EVs will be sold worldwide during the period from 2012 to 2020, according to a report published by Navigant Research, a market research and consulting team that provides in-depth analysis of global clean technology markets.
Per the report, Electric Vehicle Market Forecasts, while sales of electric vehicles (EVs) have not met the expectations of governments and automakers, they continue to expand steadily. Both plug-in electric vehicles (PEVs) and hybrid electric vehicles (HEVs) have become widely available in Asia Pacific, North America, and Western Europe, and are being introduced in Eastern Europe, Latin America, and the Middle East.
Electric vehicles sales will grow at a much more rapid pace than the overall automotive market, according to the report. While the overall auto market will expand only 2 percent a year through 2020, sales of plug-in EVs will grow at a compound annual growth rate of nearly 40 percent over the remainder of the decade. Nevertheless, by 2020, PEVs will still make up only a small fraction of annual light-duty vehicle sales—less than 2 percent, the study concludes.
Electric Vehicle Market Forecasts provides forecasts, market sizing, and market share analysis for light-duty hybrid, plug-in hybrid, and battery electric cars and trucks. The report includes comprehensive data for sales and underlying forecast assumptions for the consumer and fleet markets. Annual vehicle sales by electric vehicle segment and market share for key manufacturers are forecast through 2020, segmented by world region and key countries.
