Global Hybrid & Electric Vehicles (HEV) Markets to 2022: Analysis by Type, Vehicle Segment and Region - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Oct 10, 2018--The “Global Hybrid and Electric Vehicles by Type, Vehicle Segment and Region, 4th Edition” report has been added to ResearchAndMarkets.com’s offering.Global demand for hybrid and electric vehicles is forecast to rise 23% per annum through 2022. Diverse incentives packages, HEV deployment targets, and increasingly stringent air and emissions standards in many major markets will contribute to ongoing sales gains.
Factors driving HEV sales through 2022 include:increasingly stringent air and emissions standards in many major marketsrising concern regarding greenhouse gas emissions (GHG) and clean energy efforts designed to combat global climate changeongoing efforts to expand charging and fueling station infrastructurevarious and diverse incentives packages
China to Post Largest, Fastest Gains
China will register the fastest and largest sales gains, accounting for more than 70% of new sales through 2022, when it will surpass Japan to become the leading global HEV market. Medium- and heavy-duty vehicles account for a disproportionate share of sales compared to other national markets and reflect public HEV procurement efforts in an effort to address concerns regarding air quality and vehicle emissions in major city centers.
Healthy Outlook in Western Europe
Despite their status as more mature HEV markets, many West European nations will register some of the fastest average annual gains through 2022, and collectively, they will account for the second largest share of new sales. Regional purchases will be buoyed by participation in the 2016 Paris Agreement, with a reduction of vehicle emissions one way of achieving overall GHG emissions reduction goals.
Electric Vehicles to Post Faster Gains, Hybrid Vehicles to Account for Slightly Larger Gains
Electric vehicles (EVs) registered torrid growth between 2012 and 2017, expanding more than 13-fold to 980,000 units in 2017. Through 2022, EVs are forecast to continue to outperform hybrid vehicles, with sales buoyed by:increasing vehicle range and the rising number of available modelsfalling lithium-ion battery prices, which lower overall vehicle costs to consumersdiverse incentives and subsidies, many of which favor EVs over hybridsongoing efforts to expand domestic charging infrastructure
Nevertheless, hybrids -including full hybrid (FHEV) and plug-in hybrid (PHEV) vehicles- will still account for slightly more than half of new HEV sales in 2022, boosted by:greater accessibility of FHEVs to those in developing areas with poor access to electricity or charging infrastructurea shift in policy in the large Chinese market toward FHEVs
This industry study presents historical demand data (2012 and 2017) and forecasts for 2022 and 2027 by vehicle type (full hybrid, plug-in hybrid, battery electric, and fuel cell electric), country, and vehicle segment (light vehicles and medium- & heavy-duty vehicles).
The study also evaluates company market share and provides analysis of key players that include:BAICBMWBYDFordGeelyHondaHyundai-KiaThe Renault-Nissan-Mitsubishi AllianceTeslaToyota
For more information about this report visit https://www.researchandmarkets.com/research/qvtzvl/global_hybrid_and?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20181010005425/en/
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Related Topics:Electric and Hybrid Vehicles
INDUSTRY KEYWORD: ENERGY ALTERNATIVE ENERGY ALTERNATIVE VEHICLES/FUELS AUTOMOTIVE
SOURCE: Research and Markets
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PUB: 10/10/2018 06:40 AM/DISC: 10/10/2018 06:40 AM