Boulder, Colorado – Global sales of plug-in electric vehicles will top one million units for the first time in 2015, according to a forecast by Pike Research, although they will remain low in relation to the total light-duty vehicle market.
“Electric vehicles have received a great deal of attention in recent months due to the launches of several high-profile vehicles,” said senior analyst Dave Hurst. “The (plug-in vehicle) market is already becoming a highly competitive market and over the next few years, the marketing initiatives of multiple manufacturers will help build consumer familiarity with, and drive adoption of, plug-in vehicles as a viable alternative to internal combustion engines.”
Plug-in vehicles include battery electrics (BEVs), which run solely on electricity, and plug-in hybrid vehicles (PHEVs), which run on both electricity and gasoline. Pike Research forecasts that BEVs will take a slight lead worldwide, with 56 per cent of total plug-in sales in 2015. They will be especially popular in the Asia Pacific region, which will represent more than half the total global market, as well as in Europe.
In Canada and the United States, the firm anticipates that PHEVs will be the clear choice due to their extended driving range and gasoline engine fallback option. In those markets, PHEVs will represent 71 per cent of all electric vehicle sales in 2015.