Nearly 1 in 4 Plug-In Electric Vehicles Sold in the United States From 2012 to 2020 Will be Sold in
Nearly 1 in 4 Plug-In Electric Vehicles Sold in the United States From 2012 to 2020 Will be Sold in California, Forecasts Pike Research
BOULDER, Colo.--(BUSINESS WIRE)-- The likelihood that a North American consumer will choose to buy a plug-in electric vehicle (PEV) is based on a variety of factors: age, race, gender, income, attitudes toward renewable energy, and so on. One other factor serves as an important indicator: geography, i.e. in which state or province and in which city the person lives. According to a new report from Pike Research, a part of Navigant's Energy Practice, the state with the highest PEV sales over the remainder of this decade will be California, followed by New York, Florida, Texas, and Washington.
Between 2012 and 2020, the report concludes, nearly one in every four PEVs sold in the United States will be sold in California.
"PEV sales roughly correspond to population, but other factors, including demographics, socioeconomics, and public policy, have a strong influence as well," says senior research analyst Dave Hurst. "Florida, for example, the third largest market for PEVs, has 60 percent of the population of California, but by 2020 Florida will have only 25 percent the number of PEVs found in California."
The state with the highest penetration rate of PEVs, as a percentage of total light-duty vehicle sales, will be Hawaii, where fuel costs are high and average distances driven are relatively short, according to the report. In addition, as manufacturers launch new PEV models, the vehicles are not expected to be available equally in all areas, as original equipment manufacturers thus far have made vehicles available initially and in greater numbers in what they view as key markets before moving to nationwide rollouts. California, the focus of both strong green vehicle policies and accelerated manufacturer rollouts, will have four of the top ten metropolitan areas for PEV sales: Los Angeles/Long Beach, the San Francisco Bay Area, San Jose/Santa Clara, and the Sacramento area.
The report, "Electric Vehicle Geographic Forecasts", provides data and forecasts for the plug-in electric vehicle market for U.S. states and metropolitan statistical areas as well as Canadian provinces and cities. The report also includes forecasts for PEV sales across selected electric utility service territories. The data includes sales forecasts from 2012 to 2020 at each geographic level as well as analysis of major trends in the forecasts. An Executive Summary of the report is available for free download on the Pike Research website.
About Pike Research
Pike Research, which joined Navigant's global Energy Practice on July 1, 2012, provides in-depth analysis of 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 Smart Energy, Smart Grid, Smart Transportation, Smart Industry, and Smart Buildings sectors. Additional information about Pike Research can be found at www.navigant.com/pikeresearch.
Navigant (NYS: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, "Electric Vehicle Geographic Forecasts," is a summary and reflects Pike 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 Pike Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.
KEYWORDS: United States North America California Colorado
The article Nearly 1 in 4 Plug-In Electric Vehicles Sold in the United States From 2012 to 2020 Will be Sold in California, Forecasts Pike Research originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.