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The final version of Honda fuel cell FCV
The final version of Honda fuel cell FCV

Six million of electric vehicles in 2024

A study by Navigant Research forecasts an increase in sales of conventional and hybrid vehicles plug electrified from 2.6 million in 2015 to over 6 million in 2024.
The report includes technologies ranging from plug-in vehicles not equipped with a minimum degree of electrification to pure electric
HEV: Hybrid no plug, serial, parallel
PHEV: plug-in hybrid electric and extended range
BEV: pure electric
ENP: all of the above categories
The report of the consulting firm detailed evolution until 2024, the world market for vehicles, different scenes (conservative, basic and aggressive), regions, countries and types of technologies: hybrids do not plug in series and parallel, called HEV and electric plug, including hybrid and pure electric (PHEV and BEV).

According to the report the market for plug-in vehicles is well established in North America, Europe and parts of Asia and the Pacific, largely due to support from governments to establish incentives for purchase. Manufacturers are spending money and efforts to overcome the challenges of electric technology to gain acceptance by the market of all-electric vehicle, with increased autonomy and decreased load times. However, issues such as the decline in petrol prices, which is happening since mid-2014, or the withdrawal of aid for the purchase by some governments play against.
Besides energy companies are considering ways to participate in the market development of plug-in vehicle. According to Navigant Research report sales of electric vehicles (PEV), including all technologies will grow from 2.6 million units in 2015 to over 6 million in 2024.

Scott Shepard, an analyst at Navigant Research:
The end of 2015 marks the fifth full year of sales of vehicles in key markets ENP for major car manufacturers. The electric vehicle market has changed significantly in this period, but the changes expected over the next five years will be even more shocking for the automotive and energy industry worldwide
One change, which is already beginning to be felt now is the increased sales of luxury electric vehicles. This segment now represents 23% of the market and is expected to increase to 50% in the early 2020s.

The report provides forecasts, size and market share analysis of the conventional vehicle low power and electrified all technologies (HEV, PHEV and BEV) as well as the analysis of the evolution of the luxury vehicle market until 2024. Also forecasting technological developments in lithium-ion batteries will result in increased energy density and decrease in their price as well as the evolution of fuel retail offers.

Six million of electric vehicles in 2024

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