A new report from Pike Research titled "Plug-in Electric Vehicles", indicates that global plug-in electric vehicle (PEV) sales are expected to surpass 1 million vehicles per year in 2017 and, by 2020, worldwide sales volumes will reach 1.7 million units annually.
In the US around 410,000 PEVs will be sold between 2011 and 2015, and cumulative U.S. sales will reach the 1 million mark in 2018.
PEV sales are expected to ramp up strongly in the second half of this decade.
"While it is true that plug-in electric vehicles have seen delays in arriving on the market and have sold in fewer numbers than originally anticipated, we expect strong growth as global PEV sales volumes will nearly triple between 2012 and 2014," says research director John Gartner. "Automotive companies have made a strong commitment to electric vehicles, and their viability as a transportation platform is no longer in doubt."
As the market for electric vehicles matures, Gartner adds, significant regional differences in adoption patterns will emerge. For example, while plug-in hybrid electric vehicles (PHEVs) will outsell battery electric vehicles (BEVs) in North America, the converse is true in Europe and Asia.
So, it's slow but steady as she goes then.
In the US around 410,000 PEVs will be sold between 2011 and 2015, and cumulative U.S. sales will reach the 1 million mark in 2018.
PEV sales are expected to ramp up strongly in the second half of this decade.
"While it is true that plug-in electric vehicles have seen delays in arriving on the market and have sold in fewer numbers than originally anticipated, we expect strong growth as global PEV sales volumes will nearly triple between 2012 and 2014," says research director John Gartner. "Automotive companies have made a strong commitment to electric vehicles, and their viability as a transportation platform is no longer in doubt."
As the market for electric vehicles matures, Gartner adds, significant regional differences in adoption patterns will emerge. For example, while plug-in hybrid electric vehicles (PHEVs) will outsell battery electric vehicles (BEVs) in North America, the converse is true in Europe and Asia.
So, it's slow but steady as she goes then.
