New Navigant report forecasts geographic trends as EV sales grow

Global plug-in vehicle sales are projected to grow at an eye-opening rate – according to a new report from Navigant Research, the market for light-duty plug-in electric vehicles (LD PEVs), will expand at an annual rate of 24.6%, while the overall market for light-duty vehicles will grow at only 2.6%.

But where will most of that growth be concentrated? Which countries, regions and cities have the greatest affinity for EV ownership, and what are the typical owner demographics? The answers to these questions are critical not only to marketing managers at OEMs and others in the industry, but also to managers at electric utilities, urban planners and investors.

In Electric Vehicle Geographic Forecasts, Navigant provides data and forecasts for LD PEV sales in US states, metropolitan areas, and utility service territories; Canadian provinces and cities; and 10 major metropolitan areas in Europe and Asia.

To date, North America is the strongest market, with nearly 100,000 sold in 2013. Japan is in second place, with just under 30,000 sales, followed by the Netherlands (over 23,000) and China (over 17,000). Navigant expects the US to remain the largest market during the next 10 years, with LD PEV sales exceeding 514,000 in 2023.

Navigant expects the top cities for plug-in sales to be Los Angeles, Paris, and Tokyo. Cities with higher densities are likely to see greater interest in encouraging electrification. How and where PEVs are bought will be important for utility business models, as Navigant estimates PEVs increase residential customer load by 33% to 37%.

 

Source: Navigant