Navigant Research Finds Global Plug-In Electric Vehicle Sales Surpassed 1 Million in 2017

Through 2020, the market is projected to experience annual growth
of around 38 percent, report finds

BOULDER, Colo.–(BUSINESS WIRE)–#BEVs–A new report from Navigant
Research examines the global market conditions and regulatory
policies for plug-in electric vehicles (PEVs), providing 10-year sales
and population forecasts by powertrain type and scenario.

Recent developments in the PEV market, including the rollout of
long-range battery EVs (BEVs) at sub-$40,000 price points, have
positioned the segment for robust growth. Since PEVs were introduced in
2011, sales have experienced annual growth of 40 percent or more, and
continued growth is expected. Click
to tweet: According to a new report from @NavigantRSRCH,
global PEV sales surpassed 1 million in 2017, and the market is
projected to experience annual growth around 38 percent through 2020.

“Battery costs have shrunk dramatically in the last five years and
promise to shrink further with the commercialization of solid-state
batteries on the horizon,” says Scott Shepard, senior research analyst
with Navigant Research. “In addition, increasing regulatory pressure in
Europe and China may well push the PEV market to the aggressive end of
the forecast range regardless of oil prices.”

While most of the global market can expect robust growth in the near
term, the outlook in the United States is less certain based on the
potential for federal level policy changes. According to the report, if
US fuel efficiency policies and government subsidies are relaxed or
removed, the country will find it difficult to keep pace with other
markets.

The report, Market
Data: EV Market Forecasts, analyzes the global market conditions
and regulatory policies for PEVs. The study examines the next decade of
the PEV market with a specific focus on how government interventions,
vehicle economics, infrastructure, and automation will affect new
markets and subsequent growth of the PEV population. The study provides
10-year sales and population forecasts of major regions by PEV
powertrain type: BEV and plug-in hybrid EV (PHEV). Forecasts are
provided by segment under conservative, base, and aggressive scenarios
alongside historical data on BEV, PHEV, and overall light duty vehicle
sales. An Executive Summary of the report is available for free download
on the Navigant
Research website.

About Navigant Research

Navigant Research, the dedicated research arm of Navigant, provides
market research and benchmarking services for rapidly changing and often
highly regulated industries. In the energy sector, Navigant Research
focuses on in-depth analysis and reporting about global clean technology
markets. The team’s research methodology combines supply-side industry
analysis, end-user primary research and demand assessment, and deep
examination of technology trends to provide a comprehensive view of the
Energy Technologies, Utility Transformations, Transportation
Efficiencies, and Buildings Innovations sectors. Additional information
about Navigant Research can be found at www.navigantresearch.com.

About Navigant

Navigant Consulting, Inc. is a specialized, global professional services
firm that helps clients take control of their future. Navigant’s
professionals apply deep industry knowledge, substantive technical
expertise, and an enterprising approach to help clients build, manage
and/or protect their business interests. With a focus on markets and
clients facing transformational change and significant regulatory or
legal pressures, the Firm primarily serves clients in the healthcare,
energy and financial services industries. Across a range of advisory,
consulting, outsourcing, and technology/analytics services, Navigant’s
practitioners bring sharp insight that pinpoints opportunities and
delivers powerful results. More information about Navigant can be found
at navigant.com.

* The information contained in this press release concerning the
report, Market Data: EV Market Forecasts, is a summary and
reflects Navigant Research’s current expectations based on market data
and trend analysis. Market predictions and expectations are inherently
uncertain and actual results may differ materially from those contained
in this press release or the report. Please refer to the full report for
a complete understanding of the assumptions underlying the report’s
conclusions and the methodologies used to create the report. Neither
Navigant Research nor Navigant undertakes any obligation to update any
of the information contained in this press release or the report.

Contacts

Navigant Research
Lindsay Funicello-Paul, +1-781-270-8456
[email protected]