BOULDER, Colo.--(BUSINESS WIRE)--A new report from Navigant Research examines the plug-in electric vehicle (PEV) market in North America, providing detailed geographic breakdowns of sales and populations for the United States and Canada under conservative, base, and aggressive forecast scenarios.
While PEV sales are expected to grow quickly in states with zero-emissions vehicle (ZEV) mandates, states and provinces with desirable PEV incentives, less stringent vehicle capability and range requirements, and positive demographic characteristics related to PEVs are also projected to be market leaders. Overall, in North America, the PEV market has grown by a factor of 10 since 2011, and 2017 is headed toward another record-breaking year. Click to tweet: According to a new report from @NavigantRSRCH, 2017 sales of PEVs in North America are on track to be 50 percent greater than in 2016.
“California continues to lead the United States with strong PEV penetration,” says Scott Shepard, senior research analyst at Navigant Research. “However, growth from Northeastern states should pick up soon, and quickly, with increased stringency of ZEV mandates and multiple state PEV purchase rebate programs.”
To date, PEV populations have clustered in urban areas where census data indicates consumers have high levels of educational attainment and wealth, as well as driving patterns well-suited to the current class of PEVs. According to the report, this correlation is likely to weaken as the used PEV market develops and cheaper PEV offerings enable greater adoption among a wider range of vehicle owners. Additionally, the expanding PEV population has wide reaching implications for the electric power sector and key industry stakeholders looking to address the needs of this new class of vehicle owner.
The report, Market Data: EV Geographic Forecasts, provides an update to Navigant Research’s annual Electric Vehicle Geographic Forecast. The study assesses PEV sales and population diffusion as a function of a range of factors, including growing consumer awareness, increased PEV capability, the development of the used PEV market, and declining battery costs. Additional analysis is provided on the likely impacts of vehicle automation and Navigant Research’s method for implementing these impacts within model results. Detailed geographic breakdowns of PEV sales and populations for the United States and Canada are provided by state and core based statistical area (CBSA) and province and census agglomeration area (CA). Forecasts are provided under three scenario conditions (conservative, base, and aggressive). 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.
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 Geographic 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.