Market for PHEV and PEV vehicles to 2017 assessed

According to a report from Pike Research, hybrid electric vehicles (HEVs) and plug-in electric vehicles (PEVs) combined will represent 3.1 per cent of worldwide auto sales by 2017. Thanks to predicted higher penetration rates in the United States, Pike believes HEVs and PEVs will account for 5.1 per cent of total US vehicle sales in 2017.
April 25, 2012 Read time: 2 mins
According to a report from 4077 Pike Research, hybrid electric vehicles (HEVs) and plug-in electric vehicles (PEVs) combined will represent 3.1 per cent of worldwide auto sales by 2017. Thanks to predicted higher penetration rates in the United States, Pike believes HEVs and PEVs will account for 5.1 per cent of total US vehicle sales in 2017.

“The PEV market is anticipated to miss many of the targets set by governments because vehicle programs have not been launching as rapidly as expected even a year ago,” says senior analyst Dave Hurst. “Those targets aside, though, the EV market will grow at a rapid clip in the next six years – at a rate of nearly 20 per cent a year, compared to fewer than four per cent for the worldwide market for vehicles of all kinds.”

Overall, the Asia Pacific region is expected to experience the most rapid growth in the number of plug-in electric models, followed by Europe and North America. There will be 26 models of PEVs available in Asia Pacific by the end of 2011, compared to 23 models in Europe and ten in North America. However, strong demand for hybrid electric vehicles (HEVs) in North America will lead to the availability of 40 models by the end of 2012, versus 14 HEV models in Asia Pacific.

Within the United States, the PEV market is currently led by two key models, the 2773 Chevrolet Volt and 2454 Nissan Leaf. However, Pike Research anticipates that 3423 Ford’s model diversification and recharging equipment strategy will shake up the market. Ford will likely take the market lead by 2017 with 23.6 per cent PEV market share. 2728 Toyota (with a plug-in version of its popular Prius) and 4070 General Motors will likely find themselves fighting for second with 21.1% and 20.7% market share, respectively. Interestingly, startup 4071 Tesla’s dealer strategy and high price point are expected to limit its market access. Still, Pike Research expects market share for the startup to grow to 4.6% by 2017 from 2.2% in 2011.

For more information on companies in this article

Related Content

  • China looks to the future with major highway plans
    February 15, 2012
    China is still moving ahead with plans that will give it the world's biggest highway system. Patrick Smith reports. As China's economy grows even more, keeping the country on the move has become a priority for the government. While the country has made great strides over the past decade in improving its infrastructure, the number of vehicles has also increased rapidly, and in some instances restrictions have been placed on them.
    Read More
  • Palfinger Q1 performance boosts confidence for full year
    April 29, 2016
    Crane and lifting manufacturer Palfinger Group has reported a record increase for first quarter revenue, up by 9.1% to €318.8 million (Q1 2015: €292.3 million). EBIT – earnings before interest and tax - also showed an “extraordinarily strong increase” of 28.6% from €23.5 million to €30.2 million, which is a new record as well. “This generated a marked increase in the EBIT margin, which came to 9.5%, as compared to 8% in the first quarter of the previous year.”
    Read More
  • Keestrack enjoying rapid Chinese growth
    November 28, 2018
    Keestrack has increased its Chinese unit sales by more than 20% in 2018, leaving the mobile crushing and screening plant manufacturer on course to sell around 60 machines in the calendar year. Thomas Hagspiel, the company’s China and Southeast Asia managing director, said the Belgian global crushing and screening equipment firm had been delighted with Chinese customers response to Keestrack’s product offer over the past four years. The company is currently second only to Kleemann in annual China market mob
    Read More
  • Norway recorded twice as many electric car sales in 2012
    February 22, 2013
    Norwegian electric car sales doubled in 2012 from 1,996 to 3,950 cars, according to new published figures. Nissan captured a 60% share of the market with its car Leaf. And, so far in 2013, Nissan has captured an 80% market share. The firm’s Norwegian director of information, Marina Maneas Bakkum, says sales so far have been beyond expectations.
    Read More

Highlighted Content