Navigant Research Report Shows Global Sales of Plug-in Electric Vehicles Grew More Than 70% from 2017 to 2018
In the last year, PEV sales doubled in North America, and sales in Europe and China increased 39% and 77%, respectively.
A new report from Navigant
Research analyzes the global market conditions and regulatory
policies for plug-in electric vehicles (PEVs), providing sales and
population forecasts to 2030 of major regions by PEV powertrain type.
In the last year, PEV sales doubled in North America, and sales in
Europe and China increased 39% and 77%, respectively. In 2019, multiple
deployments of long-range battery EVs (BEVs) in crossover classes, as
well as Tesla reaching full-scale production on the Model 3 and
expanding its vehicle shipments to markets abroad, are setting the stage
for continued market growth. Click
to tweet: According to a new report from @NavigantRSRCH,
global sales of PEVs grew more than 70% from 2017 to almost 1.9 million
in 2018, with growth in 2019 likely to be strong again.
“By 2030, annual PEV sales are estimated to be between 15% and 32% of
the global light duty vehicle market, producing a global PEV population
between 107 million and 190 million,” says Scott Shepard, senior
research analyst with Navigant Research. “This long-term growth is
expected to be propelled by improving vehicle technology economics—a
function of battery innovations, government transportation energy
policies, oil price projections, and movements to price carbon.”
Though PEV market growth has been considerable, challenges remain. These
include vehicle availability, consumer awareness, charging
infrastructure, and threats from competing alternative fuels or fuel
efficiency solutions. These challenges and threats are eroding with the
natural cycle of technological development and concerted efforts by
stakeholders (governments, automakers, and energy providers) to move the
market toward lower emissions transportation, specifically
electrification. Of the competing powertrain options, PEVs are close to
becoming the leading conventional alternative and are best positioned to
lead the future light duty vehicle market.
The report, Market
Data: EV Market Forecasts, analyzes the global market conditions
and regulatory policies for PEVs. The study examines the next decade of
the PEV market with a specific focus on how government interventions,
vehicle economics, infrastructure, and automation will affect new
markets and subsequent growth of the PEV population. The study provides
sales and population forecasts to 2030 of major regions by PEV
powertrain type: battery electric vehicle (BEV) and plug-in hybrid EV
(PHEV). Forecasts are provided by segment under conservative, base, and
aggressive scenarios alongside historical data on BEV, PHEV, and overall
light duty vehicle (LDV) sales. An Executive Summary of the report is
available for free download on the Navigant
Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team’s research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of
clean, intelligent, mobile, and distributed energy. Additional
information about Navigant Research can be found at www.navigantresearch.com.
About Navigant
Navigant Consulting, Inc. is a specialized, global professional services
firm that helps clients take control of their future. Navigant’s
professionals apply deep industry knowledge, substantive technical
expertise, and an enterprising approach to help clients build, manage
and/or protect their business interests. With a focus on markets and
clients facing transformational change and significant regulatory or
legal pressures, the Firm primarily serves clients in the healthcare,
energy and financial services industries. Across a range of advisory,
consulting, outsourcing, and technology/analytics services, Navigant’s
practitioners bring sharp insight that pinpoints opportunities and
delivers powerful results. More information about Navigant can be found
at navigant.com.
* The information contained in this press release concerning the
report, Market Data: EV Market Forecasts, is a summary and
reflects Navigant Research’s current expectations based on market data
and trend analysis. Market predictions and expectations are inherently
uncertain and actual results may differ materially from those contained
in this press release or the report. Please refer to the full report for
a complete understanding of the assumptions underlying the report’s
conclusions and the methodologies used to create the report. Neither
Navigant Research nor Navigant undertakes any obligation to update any
of the information contained in this press release or the report.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190312005099/en/