Plug-In Electric Vehicle Sales in Europe Will Reach Nearly 670,000 Units Annually by 2020, Forecasts
May 9th 2013 5:35AM
Updated May 9th 2013 7:20AM
Plug-In Electric Vehicle Sales in Europe Will Reach Nearly 670,000 Units Annually by 2020, Forecasts Navigant Research
BOULDER, Colo.--(BUSINESS WIRE)-- The European transportation market is considerably different from that of other world regions. European fuel prices have been significantly higher than in North America for many years, and therefore small, efficient gasoline- and diesel-engine cars have led European sales figures. In the coming years, national energy policies and the increasing availability of electric vehicle charging infrastructure will help fuel strong growth in the market for plug-in electric vehicles (PEVs). According to a recent report from Navigant Research, sales of PEVs will grow from fewer than 37,000 in 2012 to more than 669,000 in 2020.
Including hybrid electric vehicles, total electrified vehicle sales will reach 849,000 in 2020, the study concludes.
"Governments and private entities are taking steps to alleviate range anxiety, which has been a significant barrier to growth in this market," says David Alexander, senior research analyst with Navigant Research. "Charging infrastructure is being installed rapidly in many countries throughout Europe, and fast charging stations are now planned on many motorways to allow the wider use of PEVs. There is even a project underway to allow a charging subscription in one country to be made effective all over Europe."
However, battery charging technology remains an issue in Europe, with additional costs incurred by infrastructure operators who want to make sure that their equipment is compatible with all the vehicles on the road, regardless of which plug design is used. Debate continues on the pros and cons of AC versus DC fast charging, according to the report, but is not expected to significantly delay the deployment of charging infrastructure.
The report, "Electric Vehicles in Europe", examines key market trends and drivers for the purchase of light duty electric drive vehicles in Europe. The study includes an analysis of business models and demand factors, technology and standards issues, and government policies within the region. Profiles of 23 key automakers in the sector are included, and detailed market forecasts for vehicle sales and registrations are provided for 21 European countries, segmented by powertrain, through 2020. 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, Smart Industry, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant (NYS: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, "Electric Vehicles in Europe," 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.
KEYWORDS: United States Europe North America Colorado
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