Plug-in EV sales in North America ‘expected to exceed 1.1 million by 2024’

According to a new report from Navigant Research, North American plug-in electric vehicle (PEV) sales are expected to exceed 1.1 million annually by 2024. The report, Electric Vehicle Geographic Forecasts, analyses the North American market for light duty plug-in electric vehicles (PEVs), including detailed geographic forecasts of PEV sales by US state, metropolitan statistical area (MSA), Canadian province, Canadian city, and selected utility service area.
May 29, 2015 Read time: 2 mins

According to a new report from 7560 Navigant Research, North American plug-in electric vehicle (PEV) sales are expected to exceed 1.1 million annually by 2024. The report, Electric Vehicle Geographic Forecasts, analyses the North American market for light duty plug-in electric vehicles (PEVs), including detailed geographic forecasts of PEV sales by US state, metropolitan statistical area (MSA), Canadian province, Canadian city, and selected utility service area.

The report provides data and forecasts for LD PEV sales in North America, including US states, MSAs and utility service territories and Canadian provinces and cities. The study estimates the number of vehicles that are expected to be in use in specific geographic locations and assesses the potential impacts of anticipated PEV penetration in the most active PEV markets. Market forecasts for LD PEV sales and vehicles in use, segmented by scenario and geographic area, extend through 2024. The study also provides analysis of Navigant Research’s Electric Vehicle (EV) Consumer Survey, which was used to develop the PEV demographic profile.

With more than 133,000 PEVs sold in 2014, North America is currently the world’s strongest market for these vehicles. While regional sales are concentrated in California, where both state incentives and a mandatory Zero Emissions Vehicle (ZEV) Program drive PEV penetration, the market is expected to continue to grow in other states and Canada.

“Automaker adoption of PEV technologies as adaptations for existing model lines is growing significantly, and these technologies are being placed into larger vehicle segments such as sport utility vehicles (SUVs), trucks, and minivans,” says Scott Shepard, research analyst with Navigant Research. “Similarly, the introduction of next-generation, fully electric vehicles with ranges near or over 200 miles and price points below $40,000 is expected to drastically increase mass-market PEV acceptance as a pragmatic transportation option.”

While PEVs today represent a marginal increase in load for utilities, according to the report, PEV concentration in metropolitan areas is expected to push utilities to develop strategies for load mitigation in concert with regulatory authorities. Utilities serving these metro areas, particularly in California, have been at the forefront of developing advanced demand-side management programs for residential PEV charging and vehicle-grid integration, and those in emerging North American PEV markets are expected to follow suit, creating new opportunities for energy aggregators and electric vehicle supply equipment (EVSE) service providers.

Location Based Systems

For more information on companies in this article

Related Content

  • Global ADAS market expected to grow 2012-2016
    April 17, 2014
    The latest report by Research and Markets, the Global Advanced Driver Assistance Systems (ADAS) Market Report, forecasts the Global Advanced Driver Assistance Systems (ADAS) market to grow at a CAGR of 22.59 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing adoption of safety measures. The Global ADAS market has also been witnessing the increasing deployment of ADAS in low-cost cars. However, ADAS are expensive and this could pose a challenge to t
    Read More
  • Navigation mapping focuses on more detail, greater accuracy
    March 16, 2012
    Navteq’s business strategy is focusing on more more detail, greater accuracy and added value. Location data provider Navteq has done much to enhance its service offer in recent months, across consumer, commercial and government markets worldwide, and the company reports more to come. Interior destination maps, the most recent addition to Navteq’s pedestrian navigation portfolio, are now being considered for complex transport interchanges to give guidance to transferring passengers, particularly those with m
    Read More
  • Cost benefit analysis ‘can’t be carried out with a cookbook’
    June 25, 2018
    There is far more to working out the worth of a project than simply filling in a few headings on a spreadsheet. David Crawford surveys some recent thinking from the US and Canada. Cost benefit analysis (CBA) “can’t be carried out with a cookbook”, warns US analyst Professor Robert J Brent. “ You can’t just get out a spreadsheet and fill in the data for all the headings. Each transport CBA should have something that is distinctive, in terms of location (for example, for a rural area), types of user
    Read More
  • Plug’n Drive commence used EV programme in Ontario
    April 18, 2019
    Plug’n Drive has launched a programme which offers CAN$1,000 off the purchase of a used electric or plug-in hybrid electric vehicle (EV) for drivers in Ontario, Canada. Cara Clairman, president and CEO of Plug’n Drive, a non-profit organisation, says: "Used EVs are affordable and available, and this incentive will help more people join the EV revolution." The programme was realised through a collaboration with environmental organisation Clean Air Partnership and local business M.H Brigham Foundation.
    Read More

Highlighted Content