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Navigant Research recently released a plug-in electric vehicle (PEV) study report that global plug-in electric vehicle sales increased by 70% in 2018 to about 1.
9 million units, and the growth momentum will be even stronger
in 2019.
In 2018, PEV sales in North America doubled, with sales in Europe and China increasing by 39% and 77%,
respectively.
In 2019, multiple deployments of long-range battery electric vehicles (BEVs) in crossover models, as well as Tesla's full-scale production on the Model 3 and expansion of its vehicle shipments to overseas markets, laid the foundation
for continued market growth.
As a result, the momentum will be even stronger
this year.
Scott Shepard, senior research analyst at Navigant Research, said: "By 2030, annual PEV sales in the global light vehicle market are estimated to be between 15% and 32%, and the global PEV population will reach 107 million to 190 million
.
This long-term growth is mainly driven by changes in the economics of automotive technology, battery innovation, government transportation energy policies, oil price forecasts, and carbon price trends
.
”
Although the PEV market is growing considerably, challenges remain, such as vehicle availability, consumer awareness, charging infrastructure, and threats from competing alternative fuels or fuel efficiency solutions
.
These challenges are gradually being overcome along with the natural cycle of technological development and the joint efforts of stakeholders (governments, automakers and energy suppliers) to drive the market shift towards lower-emission transportation, especially electrification
.
Among the highly competitive powertrain options, PEVs are poised to become the leading conventional alternative and are best positioned to lead the light vehicle market
of the future.
Navigant Research recently released a plug-in electric vehicle (PEV) study report that global plug-in electric vehicle sales increased by 70% in 2018 to about 1.
9 million units, and the growth momentum will be even stronger
in 2019.
In 2018, PEV sales in North America doubled, with sales in Europe and China increasing by 39% and 77%,
respectively.
In 2019, multiple deployments of long-range battery electric vehicles (BEVs) in crossover models, as well as Tesla's full-scale production on the Model 3 and expansion of its vehicle shipments to overseas markets, laid the foundation
for continued market growth.
As a result, the momentum will be even stronger
this year.
Scott Shepard, senior research analyst at Navigant Research, said: "By 2030, annual PEV sales in the global light vehicle market are estimated to be between 15% and 32%, and the global PEV population will reach 107 million to 190 million
.
This long-term growth is mainly driven by changes in the economics of automotive technology, battery innovation, government transportation energy policies, oil price forecasts, and carbon price trends
.
”
Although the PEV market is growing considerably, challenges remain, such as vehicle availability, consumer awareness, charging infrastructure, and threats from competing alternative fuels or fuel efficiency solutions
.
These challenges are gradually being overcome along with the natural cycle of technological development and the joint efforts of stakeholders (governments, automakers and energy suppliers) to drive the market shift towards lower-emission transportation, especially electrification
.
Among the highly competitive powertrain options, PEVs are poised to become the leading conventional alternative and are best positioned to lead the light vehicle market
of the future.
