35M EVs on the Roads by 2022, Navigant Research Report Says

Annual Light Duty Electric Vehicle Sales by Drivetrain, World Markets: 2013-2020

Annual Light Duty Electric Vehicle Sales by Drivetrain, World Markets: 2013-2020

A recent report from Navigant Research predicts that there will be around 35 million EVs on the roads by 2022.  In their executive summary, the report states that “growth of these vehicle sales is being driven not only by the appeal of the vehicles, but also by consumer demand for vehicles that cost less to operate than traditional internal combustion engine (ICE) vehicles, government influence on the market, and a rebounding economic environment.” 3

The report sites a number of key assumptions between years 2013 and 2020 influencing their forecast study which include increasing vehicle availability, government influence, decreasing HEV/PHEV prices, gasoline/diesel prices, and economics and the overall light duty vehicle market.  This study was designed to provide information to “participants at all levels of the EV market” and its major objective is to “assess the market size and anticipated growth of HEVs and PEVs (PHEVs and BEVs) in the overall consumer automobile and fleet markets.” 3

Sources:
1. http://www.tirebusiness.com/article/20140113/NEWS/140119978/firm-expects-continued-growth-in-plug-in-electric-vehicles
2. http://www.automotive-fleet.com/news/story/2014/01/more-than-35-million-evs-will-be-electrifying-roads-by-2022.aspx?prestitial=1
3. http://www.navigantresearch.com/wp-assets/uploads/2013/06/EVMF-13-Executive-Summary.pdf

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