The Prospector News

Annual Sales of Electric Vehicles in North America, Western Europe, and Asia Pacific Will Reach 1.8 Million by 2023, Forecasts Navigant Research

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Annual Sales of Electric Vehicles in North America, Western Europe, and Asia Pacific Will Reach 1.8 Million by 2023, Forecasts Navigant Research

 

 

 

 

 

While plug-in electric vehicles (PEVs) are now available in all U.S. states, most Canadian provinces and territories, and in every Western European country, they are not readily accessible in the Asia Pacific region.  That will change over the next several years as Asia Pacific becomes the largest market for PEV sales.  According to a recent report from Navigant Research, sales of PEVs in North America, Western Europe, and Asia Pacific will grow from 352,000 annually in 2014 to 1.8 million in 2023.

 

 

 

 

“PEVs are becoming more available and more price-competitive, both geographically and in vehicle segments outside of small and luxury car classes,” says Scott Shepard, research analyst with Navigant Research.  “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.”

 

 

 

PEVs are better suited to and marketed toward urban areas, as vehicle range requirements are typically shorter in these communities.  As such, the concentration of PEVs is anticipated to be higher in geographic areas with higher populations and more households.  The largest urban markets during the forecast period, according to the report, will be Tokyo, Los Angeles, and Paris, with PEV sales in 2023 of 49,000, 39,000, and 25,000 vehicles, respectively.

 

 

 

The report, “Electric Vehicle Geographic Forecasts”, provides a detailed examination of the market opportunity for PEVs in North America and within select cities in Europe and Asia Pacific.  Forecasts for PEV sales and vehicles in use (parc) for North America, as well as five select PEV markets in both Europe (London, England; Paris, France; Berlin, Germany; Amsterdam, Netherlands; and Oslo, Norway) and Asia Pacific (Tokyo, Japan; Seoul, South Korea; Sydney, Australia; Hong Kong; and Singapore), extend through 2023.  The forecast model for each region, which has been updated to align with actual sales data from 2013, incorporates an analysis of the variation between fuel costs for conventional vehicles and PEVs, as they vary by region.  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 the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors.  

 

Posted August 12, 2014

Share this news article

MORE or "UNCATEGORIZED"


Manitou Gold Intersects 5.0 g/t of Gold over 4.6 m at its Goudreau Project in Northeastern Ontario

Manitou Gold Inc. (TSX-V: MTU) is pleased to announce initial dri... READ MORE

May 25, 2020

Barrick Partnership with Tanzanian Government Delivers First Major Outcomes

Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) has settled the ma... READ MORE

May 25, 2020

Rokmaster Closes C$4.3 Million First Tranche, Including a Strategic Investment by a Syndicate Led by Palisades Goldcorp Ltd.

Rokmaster Resources Corp. (TSX-V:RKR) is pleased to announce that... READ MORE

May 25, 2020

Sienna Resources Acquires the Kuusamo PGE-Ni-Cu-Co Project in Finland

Sienna Resources Inc. (TSX-V:SIE) (FSE: A1XCQ0) (OTCBB: SNNAF) is... READ MORE

May 25, 2020

American Pacific Mining Announces Closing of Oversubscribed Non-Brokered Private Placement

American Pacific Mining Corp (CSE: USGD) (FWB: 1QC) (OTCPK: USGDD... READ MORE

May 25, 2020

Copyright 2020 The Prospector News - Site design by Spyderbaby Productions