Nearly 22 Million Electric Vehicles Will Be Sold from 2012 to 2020

April 19, 2013

While sales of electric vehicles (EVs) have not met the expectations of governments and automakers, they continue to expand steadily.  Both plug-in electric vehicles (PEVs) and hybrid electric vehicles (HEVs) have become widely available in Asia Pacific, North America, and Western Europe, and are being introduced in Eastern Europe, Latin America, and the Middle East.  According to a recent report from Navigant Research, a total of 21.9 million EVs will be sold worldwide during the period from 2012 to 2020.

“The average price of fuel for conventional vehicles will likely continue to rise through the remainder of this decade, driving demand for electric vehicles,” says Dave Hurst, principal research analyst with Navigant Research.  “Government policy, in terms of purchase incentives, emissions regulations, fuel taxes, and fuel economy rules, will also play a strong role in the expansion of the EV market.”

Electric vehicles sales will grow at a much more rapid pace than the overall automotive market, according to the report.  While the overall auto market will expand only 2 percent a year through 2020, sales of plug-in EVs will grow at a compound annual growth rate of nearly 40 percent over the remainder of the decade.  Nevertheless, by 2020, PEVs will still make up only a small fraction of annual light-duty vehicle sales – less than 2 percent, the study concludes.

The report, “Electric Vehicle Market Forecasts”, provides forecasts, market sizing, and market share analysis for light duty hybrid, plug-in hybrid, and battery electric cars and trucks.  The report includes comprehensive data for sales and underlying forecast assumptions for the consumer and fleet markets.  Annual vehicle sales by electric vehicle segment and market share for key manufacturers are forecast through 2020, segmented by world region and key countries.  An Executive Summary of the report is available for free download on the Navigant Research website.

Contact: Richard Martin


* The information contained in this press release concerning the report, “Electric Vehicle 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.

Register to Receive Updates

Sign up or login to receive free newsletters, research updates, access to webinars, and other analyst content from Navigant Research.

Research News

Global Energy Capacity for Advanced Batteries for Utility-Scale Energy Storage is Expected to Reach 42.7 GWh by 2025
Improvements in storage technologies and emerging business models are solidifying utility-scale energy storage in the grid • A recent report from Navigant Research examines the market for advanced batteries for utility-scale…
Read More »
Global Revenue from Smart Water Networks Projected to Reach $7.2 Billion in 2025
During the next decade, increasing affordability of related technologies is expected to drive market growth • A new report from Navigant Research analyzes the market for smart water network products…
Read More »
Navigant Research Launches New Internet of Things Research Service
Information service will focus on transformative market forces and technologies shaping the connected energy landscape • Navigant Research today announced the launch of a new research service as part of…
Read More »
Utilities in North America, Europe, and Asia Pacific Have Emerged as the Top Global Consumers of Energy Storage
Cost-effective advanced energy storage technologies are providing utilities and grid operators with new tools to…
Read More »
View All News

{"userID":"","pageName":"Nearly 22 Million Electric Vehicles Will Be Sold from 2012 to 2020","path":"\/newsroom\/nearly-22-million-electric-vehicles-will-be-sold-from-2012-to-2020","date":"10\/21\/2016"}