Navigant: Worldwide sales of PEVs predicted to grow from 352K this year to 1.8M annually in 2023

By: InnovatioNews Wednesday August 20, 2014 0 comments Tags: Boulder, Navigant Research, PEVs, Scott Shepard

 

Navigant Research logo newBOULDER - Sales of plug-in electric vehicles (PEVs) in North America, Western Europe and Asia Pacific will grow from 352,000 this year to 1.8 million in 2023, according to a new report from Navigant Research.

"PEVs are becoming more available and more price-competitive, both geographically and in vehicle segments outside of small and luxury car classes," said Scott Shepard, Navigant research analyst.

"That is expanding the universe of potential PEV buyers beyond the narrow demographics of early adopters to a wider market that is similar to that for hybrid electric vehicles."

The report said PEVs are better suited and marketed toward urban areas, as vehicle range requirements are typically shorter. The largest urban markets during the forecast period will be in Tokyo, Los Angeles and Paris, according to the report, with expected sales in 2023 of 49,000, 39,000 and 25,000 vehicles respectively.

"Electric Vehicle Geographic Forecasts" provides a detailed look at the market opportunity for PEVs in North America and in select cities in Europe and Asia Pacific.

An Executive Summary of the report is available for free download on the Navigant website.
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