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Electric Vehicle (EV) and Plug-In Hybrid Electric Vehicle (PHEV) Markets Worldwide

In 2009, the Toyota Prius hybrid electric vehicle (HEV) became the best selling passenger vehicle in Japan, beating out all other gasoline powered cars. It has been thirteen long years, but hybrids have finally hit the big time. No longer just for environmentalists, electric vehicles (EV) are now mainstream.

Hybrids have always been a niche market, capturing one percent or less of the world passenger vehicle market through the first decade of the millennium. But in 2009, SBI Energy estimates that just over 700,000 electric vehicles were sold worldwide, with 99% of those being hybrid electric vehicles. HEVs stole 1.5% of the world passenger vehicle market in 2009, and almost 8% of the same market in Japan.

The demographics for hybrid ownership are still very much skewed towards affluent, educated families; the classic early adopters of new technologies. But with the surge of general consumer acceptance of HEVs, seen by the uptake in HEVs in 2009 even during the most difficult recession since the 1930’s, there will be new consumer segments purchasing HEVs in the coming years.

And with hybrids hitting the mainstream, plug-in hybrid electric vehicle (PHEV) and BEV models are not far behind. Plug-in electric vehicle products from Toyota, Nissan and Mitsubishi are coming to market in 2010, following in the successful tire tracks of hybrids. But the lithium-ion battery technology required to make PHEVs and BEVs with a sufficient driving range to appeal to consumers is expensive, leading to a cost premium for plug-in vehicles that will keep sales minimized over the next four to five years. This leaves the road wide open for hybrids to continue to dominate the EV market.

Electric Vehicle (EV) and Plug-In Hybrid Electric Vehicle (PHEV) Markets Worldwide by SBI Energy analyzes the manufacturing and sales of electric based passenger vehicles throughout the world with a particular emphasis on the United States and Japan as the leading markets for electric vehicles. The analysis will include definitions, current product offerings and market detail on the following segments:

  • Road legal hybrid electric vehicles (HEV), both current offerings and anticipated models, that use gasoline, diesel or ethanol blends for the internal combustion engine (ICE). This includes road legal passenger vehicles and light duty trucks.
  • Road legal plug-in hybrid electric vehicles (PHEV), both current offerings and anticipated models, that use gasoline, diesel or ethanol blends for the internal combustion engine (ICE).
  • Road legal battery electric vehicles (BEV), both current offerings and anticipated models. This will include passenger vehicles, light duty trucks, motorcycles, and neighborhood electric vehicles (NEVs, essentially non-highway rated road-legal vehicles).

Read an excerpt from this report below.

Report Methodology

This report contains both primary and secondary data obtained from government sources, trade associations and publications, business journals, scientific papers, company literature, investment reports, and interviews with industry professionals. Statistics describing the sales of hybrid vehicles in the U.S. are primarily through the U.S. Department of Energy Alternative Fuels Data Center. Sales and production data of hybrid vehicles in Japan is from the Japan Automobile Dealers Association and the Japan Automobile manufacturers Association.

Simmons Experion Market Research Bureau’s fall 2009 survey, based on a nationwide sample of over 25,000 U.S. adults, provides the primary research data on consumer penetration and demographics related to hybrid vehicle adoption in the U.S. market.

What You’ll Get in This Report

Electric Vehicle (EV) and Plug-In Hybrid Electric Vehicle (PHEV) Markets Worldwide provides a concise, focused look on the world of battery electric and hybrid electric vehicles as it exists today, and shows where the market is moving towards in the next five years. The report highlights key players in the industry and pinpoints ways current and prospective competitors can capitalize on recent trends and spearhead new ones. No other market research report provides both the comprehensive analysis and extensive data that Electric Vehicle (EV) and Plug-In Hybrid Electric Vehicle (PHEV) Markets Worldwide offers. Plus, you’ll benefit from extensive data, presented in easy-to-read and practical charts, tables and graphs.

How You’ll Benefit from this Report

If your company is already doing business related to hybrid vehicles, or is considering making the leap, you will find this report invaluable as it provides a comprehensive package of information and insight not offered in any other single source. You will gain a thorough understanding of the current market for all aspects of electric vehicles, as well as projected markets and trends through 2014.

This report will help:

  • Marketing managers identify market opportunities and develop targeted promotion plans for homeowners looking to maximize fuel economy of their next new car and want to help reduce greenhouse gas emissions.
  • Research and development professionals stay on top of competitor initiatives and explore demand for current electric drive train and vehicle battery technologies.
  • Advertising agencies working with clients in the banking, retail and construction industries develop messages and images that compel homeowners to migrate towards electric vehicles when considering their next automobile purchase.
  • Business development executives understand the dynamics of the market and identify possible partnerships.
  • Information and research center librarians provide market researchers, brand and product managers and other colleagues with the vital information they need to do their jobs more effectively.


Market Insights: A Selection From The Report


The hybrid electric vehicle has been accepted into the automotive scene like no other type of electric vehicle before. For all practical purposes, HEV sales are electric vehicles sales; SBI Energy calculates that worldwide HEV sales accounted for 99% of world electric vehicle sales in 2009. What is even more impressive is how well HEVs are doing compared to regular passenger vehicles.

With the plunging of the auto market around most of the globe, and particularly in Japan and the U.S., it comes as a huge shock to see that hybrid sales in the world have actually risen an estimated 33% in 2009 to 695,700 vehicles over 2008’s 519,200 hybrids sold. In fact, HEV car sales accounted for an SBI Energy estimated 1.5% of all passenger cars sold in 2009, up from just 1.0% of all cars sold worldwide in 2008.

The U.S. and Japan have always been the largest market for HEVs, with the two countries responsible for over 80% of HEV sales since 2004. But while the U.S. has traditionally been the larger market of the two countries, that has changed. In 2009 SBI Energy calculates that the U.S. made up 42% of the world HEV market while Japan garnered almost half of all world HEV sales at 48%.

Potential Owners Need to See the Money
Now that HEVs are moving into the mainstream and away market share in the coming years. While most consumers enjoy the idea of a fuel efficient car that will save them money, the price premium over gasoline models can be as high as $7,000 for a hybrid. This makes the argument that the price premium will have a five to seven year payback period and that an HEV will cut your overall driving costs a little hard to accept.

Hybrids are at a critical juncture, where they are starting to be seen as mainstream and yet are still selling for a premium price. To prevent a decline in market share, HEV manufacturers are going to have to work to reduce costs and governments are going to have to provide incentives to help bring the price of hybrids close to their internal combustion engine counterparts. SBI Energy sees the next three years through 2012 being crucial in how quickly hybrid market share will grow based on these financial realities.

In the News

Six Clean Energy Markets That Will Change Life As We Know It in the Next Five Years

New York, August 26, 2010 - Renewable energy is receiving a big push from the Obama Administration and from governments around the globe. Stimulus packages and government incentives for green technology has created jobs and established new industry, which in turn has sparked a brighter outlook on the world's economy. Going into 2011 and beyond, SBI Energy has identified six clean energies that will not only gain double-digit growth in the next five years, but will also alter the lifestyle we know today.

Green Building Materials and Construction - Traditional construction creates considerable debris which ends up in our landfills, soil and fresh water supply. Furthermore, inefficient materials used in construction produce higher energy bills for the homeowner. The judicious use of recycled materials, lumber that is harvested from sustainable forests, more efficient insulation and windows, and improved construction techniques can drop energy bills for consumers while reducing the need for raw materials simultaneously. Market research performed by SBI Energy forecasts the size of the global green building materials market to grow to over $580 billion by 2015 from about $160 billion in 2010. This represents a growth rate of 21% CAGR which is significant but understandable in light of increasing demand for products that save energy and minimize harmful environmental effects.

Enhanced Oil Recovery - EOR refers to a variety of oil producing methods, by which 70% - 90% more oil is produced from oil wells than is typically extracted by conventional oil production methods. Some of the more common EOR methods include steam, gas or chemical injection, which improve the viscosity of the oil, enabling the oil to flow more freely out of the well. More oil indicates lower prices. SBI Energy estimates dollars from EOR will climb steadily with some gentle fluctuations. SBI's analysts calculate the EOR market will experience a compound average growth rate (CAGR) of 63% per year over the 6-year span to total $1.3 trillion in 2015.

Solar Technology - We've all seen the solar panels on residential home roofs and today energy providers are multiplying this concept by installing large solar farms and using concentrated solar power (CSP) technology to supplement power demands. Electricity from CSP technology is generated like conventional electricity, except solar power is used to heat the boiler instead of fossil fuels. Global CSP installations are just getting started and SBI Energy expects to see real growth in the segment beginning in 2012.CSP is the fastest growing segment within the solar technologies, going from $0.7 billion in 2010 to $3 billion in 2014, a CAGR of 42% for the period. Including systems and panels, SBI Energy sees the world solar market growing to $173 billion in 2014 - a CAGR of 28%.

Offshore Wind Farms - Coastal area will have a new view as nations increasingly harness the renewable energy generated by the fierce winds a few miles off their shorelines. During the next five years, SBI Energy expects offshore wind farms to crop up at a much faster pace than land-based turbines. Leading manufacturers of turbines and components are riding the wave of production expected to result from growing interest in offshore projects, such as the recent approvals of Cape Wind in Massachusetts and The Offshore Wind Economic Development Act in New Jersey. Helping them accelerate their offshore initiatives are government cash and tax incentives that promote renewable energy development, particularly in Europe and the U.S. "States are leading the way in off-shore wind development because it spurs economic development, helps to stabilize energy costs, and moves our country towards energy independence in a sustainable fashion," comments Donald Carcieri Governor of Rhode Island. SBI Energy forecasts the global market to grow at a five-year CAGR rate of 11% to reach more than $78 billion. The fastest growth will come from the U.K., which will more than double its offshore market value to reach nearly $5 billion in 2015.

Electric Vehicles - For years the marketing and advertising from government and car companies alike have boldly stated that electric cars will take over the car industry “real soon now.” Now, electric vehicles, in the form of hybrids that combine both gas and electric motors, are finally beginning to do just that. The world populace is accepting hybrid electric vehicles, giving them equal weight as an option in their car purchases. Just how quickly this market will grow depends on several factors including gas prices, government incentives and vehicle price. According to market research from SBI Energy worldwide hybrid electric vehicle sales will double from just under 700,000 units sold in 2009 to 1.5 million passenger hybrid vehicles sold in 2014. Exponential HEV market growth will occur in smaller existing markets such as Europe, Australia and South Korea, and in new markets such as India and China where product sold will increase from 95,000 vehicles in 2010 to 440,000 vehicles in 2014, a phenomenal 47% compound annual growth rate.

Smart Grid Technologies - Implementing and integrating all of the renewable energies is somewhat contingent on the upgrade of our existing dilapidated 100 year old electrical grid to a powerful sophisticated smart grid system. The smart grid can be seen in broad outline as an architectonic structure consisting of three major sectors: grid infrastructure; information and communications technology (ICT); and applications and software (A/S). Despite consumer concerns over privacy and cost regulation, the smart grid will encourage clean energy production and ensure reliable electrical supply to the world through digital grid operation and a distributed network. SBI Energy sees the global smart grid market soaring upward nearly 150% between 2009 and 2014, reaching $171 billion in 2014. Meanwhile, the U.S. market is projected to double over the timeframe to about $43 billion by 2014.

SBI Reports has been leading industrial market research reporting for more than a decade. The brand established SBI Energy to address the complex nature of the Energy and Resources industry. SBI Energy reports capture data vital to emerging energy market sectors on a global scale. Growth of energy technology, manufacturing, construction, transportation and investment is exciting in its innovations and opportunities, and integral to the advancement of security and science. SBI relies upon only the most experienced analysts with excellent credentials, years of industry experience, and the trust of colleagues and peers.

Research for this article is based on the following market studies from SBI Energy:

EOR Enhanced Oil Recovery Worldwide

Electric Vehicle (EV) and Plug-In Hybrid Electric Vehicle (PHEV) Markets Worldwide

Smart Grid and Consumers

Global Green Building Materials and Construction, 2nd Edition

Offshore Wind Farm Manufacturing Worldwide

U.S. Solar Energy Market World Data, 2nd Edition: PV, Solar Thermal, CSP

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In the News


Hybrids Leading the Way Toward Global Embrace of Electric Vehicles

New York, February 22, 2010 - For years the marketing and advertising from government and car companies alike have boldly stated that it was only a matter of time before electric vehicles took over the car industry. Now, electric vehicles, in the form of hybrids that combine both gas and electric motors, are finally beginning to do just that.

As a result, the world populace is accepting hybrid electric vehicles and giving them equal weight as an option in their car purchases, according to Electric Vehicle (EV) and Plug-In Hybrid Electric Vehicle (PHEV) Markets Worldwide, the latest report from leading energy market research firm SBI Energy.  The report examines the natural progression occurring in the marketplace from hybrid electric vehicles to plug-in hybrid electric vehicles to battery electric vehicles.  Each stage won’t likely be picked up by consumers in mass quantities until the previous technology has matured and reached a significant portion of the market.

“The hybrid electric vehicle has been accepted into the automotive scene like no other type of electric vehicle before,” says Shelley Carr, publisher of SBI Energy. “And what’s truly impressive is how well hybrids are doing compared to regular passenger vehicles.”

Global sales of hybrid electric vehicles rose 33% in 2009 with 700,000 vehicles sold in an unfavorable climate that saw the overall auto market plunge worldwide.  SBI Energy calculates that sales of hybrids accounted for 99% of all electric vehicle sales in 2009 worldwide. 

Sales of hybrid electric vehicles exploded in Japan during 2009, with the production of hybrids by domestic manufacturers for domestic sale reaching 334,000 cars, essentially tripling production compared to 2008.  Overall, Japan garnered almost half of all global hybrid sales, followed by the U.S. with 42% of global sales. SBI Energy’s analysis of the market indicates that buying a hybrid in the U.S. is still very much about making a statement concerning oil use and environmental conservationism.  In Japan, however, environmental sentiment along with a personal sense of responsibility to do something about environmental issues is much more pervasive. 

According to SBI Energy, future growth of the electric vehicle market on a global scale will depend on three key motivators: government incentives to consumers to purchase fuel efficient vehicles; any increase in the price of crude oil and gas prices at the pumps; and a reduction in the price differential between hybrids and non-hybrids.

Electric Vehicle (EV) and Plug-In Hybrid Electric Vehicle (PHEV) Markets Worldwide analyzes the manufacturing and sales of electric based passenger vehicles throughout the world with a particular emphasis on the United States and Japan as the leading markets for electric vehicles. The analysis includes definitions, current product offerings and market detail on: passenger hybrid electric vehicles (HEV), plug-in hybrid electric vehicles (PHEV) and battery electric vehicles (BEV).

About SBI Energy
SBI Energy (Specialists in Business Information), a division of MarketResearch.com, publishes research reports in the industrial, energy, building/construction, and automotive/transportation markets.  SBI Energy also offers a full range of custom research services.

 

Additional Materials


Electric Vehicle Market: Challenges and Opportunities

For years you knew the electric car revolution was coming.  Now that they are here, where do the opportunities lie?  And what internal and external challenges will the market face?

  • Executive Summary
    • Scope
    • Methodology
    • World Vehicle Production & Sales
    • World Hybrid Vehicle Sales
      • U.S. HEV Sales
      • Japan HEV Sales Explode in 2009
    • World BEV & PHEV Sales
    • Forecast
      • BEV and PHEV Forecast
    • Top EV Manufacturers
    • Hybrid Electric and Plug-in Electric Hybrid Models
      • Table Hybrid Models Available in the U.S., 2009
      • Key Current HEV & Future PHEV Models
    • Current and Future Battery Electric Vehicle Products
    • Batteries for EVs: Trying to Match the Power of Combustion
      • Table HEV Battery Joint Ventures, 2009
      • Ni-MH Dominates in Today's HEV Market
      • The Future of EVs is With Lithium-Ion
      • New Battery Manufacturing Locations
    • World EV Manufacturing
      • Future HEV Manufacturing Locations
      • New Future BEV Manufacturing Locations
    • EV Manufacturing Costs
    • Financing & Incentives for EV and EV Battery Manufacturers
      • U.S. Funding
      • The Motivation for Change - New CAFE Standards in the US
      • Government Funding Around the World
    • Adoption of Electric Vehicles: From Hybrid to Plugged-In
      • Battling Range Anxiety
      • The Still Long Road to a Widespread Plug-in Vehicle Market
    • Ownership Demographics
      • BEV Ownership Demographics
    • Potential Owners Need to See the Money
      • Incentives for Purchasing EVs Around the World
    • The Well to Wheels of Green for EVs
  • The Market
    • Scope
    • Methodology
    • Terminology
      • Hybrid Electric Vehicle Flavors
      • Mild Hybrid
      • Full Hybrid
      • Plug-in Hybrid Electric Vehicles (PHEV)
      • Battery Types for EVs
    • World Vehicle Production
      • U.S. and Japan Passenger Vehicle Sales
    • World Hybrid Vehicle Sales
      • U.S. HEV Sales
        • Table U.S. Hybrid Vehicle Sales by Model, 2008-2009 (in thousands of vehicles)
      • Japan HEV Sales Explode in 2009
    • European HEV Sales
    • World BEV & PHEV Sales
      • Regional BEV Sales
      • Plug-in Hybrids Still to Come
    • Imports & Exports of Hybrid Electric Vehicles
    • Forecast
      • HEV Forecast
      • BEV and PHEV Forecast
  • Current & Future EV/HEV/PHEV Products
    • The Current Line of HEVs and PHEVs
      • Table Hybrid Models Available in the U.S., 2009
      • Japan & Rest of World Models
        • Table HEV Models Available Only Outside the U.S., 2009
      • Key HEV Models
        • Table Top 10 HEV Models By Unit Sales in the U.S. and Their Mileage Ratings, 2009 (in combined city/highway miles per gallon)
      • Toyota Prius
      • Honda Insight
      • Ford Fusion
      • S400 BlueHYBRID
    • Future & Concept HEVs (and even PHEVs)
      • Table Announced Upcoming HEV Models
      • Key Upcoming Model PHEVs
      • Chevy Volt PHEV
      • Toyota Prius PHEV
    • The Current Battery Electric Vehicle Products
      • Table BEV Models Available Worldwide, 2009
      • Key Models
      • Tesla Roadster
      • Reva i
    • Future BEVs
      • Table Announced Upcoming Worldwide BEV Highway Capable Models
      • Key Models
      • Mitsubishi iMiEV/Citroën C-Zero/Peugeot iOn
      • Nissan Leaf
    • Electronic Vehicle Drivetrains for Hybrid Electric Vehicles
      • Table Hybrid Drivetrains by Drivetrain Type, 2009
      • Hybrid Synergy Drive
      • Two-Mode System
      • Voltec System
    • Batteries for EVs: Trying to Match the Power of Combustion
      • Table HEV Battery Joint Ventures, 2009
      • Current Battery Offerings
      • Ni-MH Dominates in Today's HEV Market
        • Table Battery Manufacturers for Current Model Ni-MH HEVs, 2009
      • The Future of EVs is With Lithium-Ion
        • Table Lithium-Ion Battery Suppliers for Current & Future EVs, 2009
  • Worldwide Electric Vehicle Manufacturing
    • World HEV Manufacturing
      • Table HEV/PHEV Production Locations, 2009
      • Current Key Production Facilities
      • Kokura Lexus Factory
      • Future HEV Manufacturing Locations
    • World BEV Manufacturing
      • Table Electric Vehicle Manufacturing Locations, 2009
      • New Future BEV Manufacturing Locations
        • Table Future EV Manufacturing Locations
    • EV Manufacturing Costs
      • Commodity Costs
    • The New Future in EV Battery Production
      • Starting from Zero - Kick Starting the U.S. EV Battery Industry
        • Table HEV Battery Manufacturing Awards From ARRA, 2009
      • New U.S. Battery Manufacturing Locations
      • New Battery Manufacturing Elsewhere in the World
    • Financing & Incentives for EV Manufacturers
      • The Motivation for Change - New CAFE Standards in the US
      • U.S. Government Funding
        • Table EV Manufacturing and Demonstration Awards From ARRA, 2009
      • Government Funding Around the World
      • The European Union
      • Canada
    • Developing Charging & Smart Grid Infrastructure
  • Consumer & Market Trends
    • A Note on Experian Simmons Consumer Data
    • Adoption of Electric Vehicles: From Hybrid to Plugged-In
      • Adoption of HEVs in the U.S. lags behind Japan
      • HEV Adoption in Europe
      • Battling Range Anxiety
      • Regulations and Promotions to Speed Adoption
      • NEV State by State Regulations
        • Table State by State Speed Vehicle Access to Roadways, 2010
      • The Still Long Road to a Widespread Plug-in Vehicle Market
    • Ownership Demographics
      • Hybrid Ownership in the U.S.
        • Table Demographic Indicators and Resistors of U.S. HEV Owners, 2009 (Index)
      • Hybrid Ownership Elsewhere in the World
      • BEV Ownership in the U.S.
      • BEV Ownership in Other Countries
    • Potential Owners Need to See the Money
      • Incentives for EVs in the U.S.
        • Table State by State Incentive Availability for EVs, 2010
      • EV Incentives in Japan
      • EV Incentives in Europe
      • Even for Electric Vehicles, the Price of Gas is King
    • Technology Trends
      • Electric Vehicle Conversion Kits
    • The Well to Wheels of Green for EVs
      • Carbon Emissions of HEVs
        • Table Best and Worst Carbon Footprints for HEVs Sold in the U.S., 2010 (in tons CO2/year)
      • Recycling of HEV Batteries
  • Competitor Profiles
    • Acquisitions, Mergers, & Joint Ventures
      • Government Motors
      • Chrysler Allies with Fiat
      • Ford is Getting Back to Basics
    • Toyota Motor Corporation
      • Table Toyota Motor Corporation
      • Overview
      • Performance
      • Products
        • Table Sales of Toyota Passenger HEVs by Model, 1997-August, 2009 (in thousands of vehicles)
      • Significant Developments
      • Toyota Invests in Lithium Mining
      • A Separate Prius Brand?
      • The Plug-in Prius is Ready! (For Some)
    • Honda Motor Company
      • Table Honda Motor Company
      • Overview
      • Performance
      • Products
        • Table Cumulative Honda Hybrid Vehicle Sales, 1999-Jan. 2009 (in number of vehicles sold)
      • Significant Developments
    • Ford Motor Company
      • Table Ford Motor Company
      • Overview
      • Performance
      • Products
      • Significant Developments
    • General Motors Company
      • Table General Motors Company
      • Overview
      • Performance
      • Products
        • Table GM HEV Cumulative U.S. Sales, 2009
      • Significant Developments
    • Nissan Motor Company
      • Table Nissan Motor Company
      • Overview
      • Performance
      • Products
      • Significant Developments
    • Chrysler Group
      • Table Chrysler Group
      • Overview
      • Performance
      • Products
    • Tesla Motors
      • Table Tesla Motors
      • Overview
      • Performance
      • Products
      • Significant Developments
    • Mitsubishi Motors
      • Table Mitsubishi Motors
      • Overview
      • Performance & Products
    • Reva
      • Table Reva
      • Overview
      • Performance & Products

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