Major automakers are preparing to launch the first models in a new generation of plug-in hybrid electric vehicles (PHEVs) in 2010, the development of which has been aided by a mix of consumer demand for fuel efficient cars and considerable government incentives. According to a new report from Pike Research, PHEVs will follow a similar adoption pattern as that of hybrid electric vehicles (HEVs) over the past few years, and the cleantech market intelligence firm forecasts that, by 2015, a total of 1.7 million PHEVs will be on the road worldwide.
“PHEV programs will focus initially on the small car segment, which will represent 80 percent of sales in 2015,” says industry analyst Dave Hurst, “followed by the small SUV segment with 10 percent of the market.”
Pike Research forecasts that the United States will be the leading market for PHEVs, with more than 610,000 vehicles sold over the next five years. China, with its strong push for the production of electric vehicles, will be a close second with just over 540,000 PHEVs sold during the same period.
Hurst anticipates that Toyota, General Motors, and Ford will together account for three-quarters of the world market for PHEVs by 2015. However, he adds that emerging Chinese manufacturers such as Chery and BYD Auto are a market force that should not be ignored in the longer term.
Pike Research’s report, “Plug-in Hybrid Electric Vehicles”, analyzes the emerging PHEV market with a focus on business issues and demand drivers, technology issues, the effects of regulatory standards and government incentives, and an in-depth assessment of major OEMs’ PHEV programs. Detailed market forecasts include PHEV sales and registrations for world markets. An Executive Summary of the report is available for free download on the firm’s Web site.
For more information, visit www.pikeresearch.com.
