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

  • Long-range electric vehicles ‘set to gain popularity globally’
    April 22, 2015
    According to new analysis from Frost & Sullivan, the global electric vehicles (EV) market has made huge progress, with more than 55 models now available globally. Currently, over 70 per cent of the models on the market are battery EVs (BEVs) and approximately 25 per cent are plug-in hybrid EVs (PHEVs). Nevertheless, the number of PHEVs is likely to increase over the next three to four years. The market will see greater demand for longer-range vehicles that allow customers to drive up to and past the pure EV
    Read More
  • Fleet management systems expected to reach 10.1 million units in the Americas
    October 1, 2013
    According to a new research report from analysts Berg Insight, the number of fleet management systems deployed in commercial vehicle fleets in North America was 3.3 million in the fourth quarter of 2012. Growing at a compound annual growth rate (CAGR) of 15.6 percent, this number is expected to reach 6.8 million by 2017. In Latin America, the number of installed fleet management systems is expected to increase from 1.6 million in quarter four 2012, growing at a CAGR of 16.3 per cent to reach 3.3 million in
    Read More
  • New forms of smart mobility aiding congestion reduction, report finds
    June 26, 2015
    A new report from Navigant Research analyses the global market for smart urban mobility infrastructure and services in smart cities, including car sharing, advanced traffic management, smart parking, and other transportation innovations, with regional forecasts for revenue, through 2024. According to the report, Urban Mobility in Smart Cities, the market for smart urban mobility infrastructure and services is expected to exceed US$25 billion in 2024. In cities around the world, thoughts on mobility in ur
    Read More
  • Electric vehicle charging stations market
    April 7, 2016
    The growing need to reduce carbon emissions is pushing electric vehicle (EV) charging stations market along with increasing use of EVs, government subsidies and incentives according to a new research report from Reports and Reports. It forecasts the market to reach US$12.61 billion by 2022, at a CAGR of 29.8 per cent from 2016 to 2022. The growth of electric vehicle charging stations market is attributed to significant incentives offered by the Chinese government for EV buyers and tightening emission reg
    Read More

Highlighted Content