A new report from cleantech market intelligence firm Pike Research forecasts that by 2015 a total of 1.7 million plug-in hybrid electric vehicles will be on the road worldwide.
Pike Research forecasts that the United States will be the leading market for PHEVs, with more than 610,000 vehicles sold over the next five years. (The Obama Administration is targeting 1 million plug-ins in the US by 2015.) China, with its strong push for the production of electric vehicles, will be a close second with just over 540,000 PHEVs sold during the same period, according to the report.
PHEV programs will focus initially on the small car segment, which will represent 80% of sales in 2015, followed by the small SUV segment with 10% of the market.—Dave Hurst, Pike Research
Hurst anticipates that Toyota, General Motors, and Ford will together account for three-quarters of the world market for PHEVs by 2015. However, he adds that emerging Chinese manufacturers such as Chery and BYD Auto are a market force that should not be ignored in the longer term.
Pike Research’s report, “Plug-in Hybrid Electric Vehicles”, analyzes the emerging PHEV market with a focus on business issues and demand drivers, technology issues, the effects of regulatory standards and government incentives, and an in-depth assessment of major OEMs’ PHEV programs. Detailed market forecasts include PHEV sales and registrations for world markets.
In an earlier report, Pike Research forecast that by 2015, the global installed base of charge points will surpass 5 million with cumulative equipment revenues of $6.5 billion.
Pike Research forecasts that China will be the world leader in charging stations, representing nearly half the total market, due to a strong government mandate to encourage adoption of electric vehicles. The United States will be the second-largest market with more than one million charge points installed by 2015. Other hotbeds for EV charging infrastructure will include Israel and Denmark.