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Friday, January 22, 2010

Electric Vehicles Could Capture 20% of the Market by 2030

It seems an entire cottage industry of consultants doing studies that attempt to convince us they can predict the future of electric vehicles has recently sprung up. Earlier this week we reported on a study published by Consulting firm PRTM that predicted that by 2020, battery powered cars will account for 10 percent of new vehicle sales. The prediction from Consulting firm IHS Global Insight is for Electric Vehicles to capture 20% of the market by 2030. Sounds like a nice linear growth curve doesn't it?

A White Paper, Battery Electric and Plug-in Hybrid Vehicles: The Definitive Assessment of the Business Case, from IHS Global Insight's Automotive Group finds that electric vehicles will make up nearly 20% of the global market for light vehicles in 2030.

As the world responds to concerns over warming and climate change, the advantages of electric vehicles are numerous—the multiplicity of energy sources, reduced emissions, reduced noise, the possibility of reduced operating costs—but so too are the challenges—the development of powerful, long-lasting batteries and ready access to a reliable power grid for recharging.

IHS Global Insight's Automotive Group, the premiere provider of automotive intelligence and insight, has created a new study titled "Battery Electric and Plug-in Hybrid Vehicles: The Definitive Assessment of the Business Case." This study provides business and technology planners and investors with a thorough and objective understanding of:

* The status of electric grid-based light-vehicle powertrains
* Major technical, infrastructure, and other hurdles remaining, and the likelihood of overcoming those hurdles
* Milestones to watch for to determine the direction of the technology
* Expected market evolution for plug-in hybrid and battery-electric vehicles
* Impacts on electric power demand

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