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Strategic Outlook of Global Electric Vehicle Market in 2015 : The United States to Remain Leader and Sell over 162,000 EVs and PHEVs

  • December 2014
  • -
  • Frost & Sullivan
  • -
  • 90 pages

Summary

Table of Contents

This outlook presents current electric vehicle (EV) market trends and gives an overview of the 2015 landscape. The research covers trends across Europe, North America, China, and select countries in Asia-Pacific. Additional content focuses on EV sales for 2014 by region and segment, and similarly estimates the market for 2015. It also offers a brief outline of the EV market to 2020. The study further discusses EV charging infrastructure trends across different geographies. Also, included are an analysis of future battery chemistries in EVs and a case study on the evolution of the Tesla Gigafactory. Key conclusions and a future outlook of the EV market conclude the research. The base year for analysis is 2013 and forecasts extend to 2020.

Key Findings

Global preferences are for long-range vehicles such as plug-in hybrid electric vehicles (PHEVs) and extended-range electric vehicles (eREVs), mostly for their short charging time and long range.
Frost & Sullivan estimates approximately x electric vehicles (EVs) will be sold globally with North America accounting for x % of the market, followed by Europe and China with x % and x % respectively.
In 2015, battery electric vehicles (BEVs) will maintain the lead position and are likely to account for x % of the total EV sales, followed by x % for PHEVs. However, the share of PHEVs will increase over the next x – years.
Government bodies are expected to announce tax benefits and subsidies for consumers purchasing fuel cell vehicles (FCVs) considering significant funds have been allocated towards research and development (R&D) of fuel cells. Japan is likely to offer maximum incentives of up to x % of the vehicle cost, an attractive option.
All EV manufacturers are looking to capitalize on the available incentives and subsidies, mainly in China. Due to an annual decrease of x % incentive in China, original equipment manufacturers (OEMs) such as Tesla are looking at alternatives to qualify for incentives.
OEMs such as Honda, Hyundai, and Toyota are promoting FCVs as an alternative to EVs and are likely to launch FCVs in mid 2015 in Asia-Pacific (APAC), Europe, and North America.

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