Electric Vehicle Market Forecast — 10 Year Horizon Looks Strong
"Any Motor manufacturer without a compelling line up of electric vehicles [by 2025] is signing its death warrant."
This is an unequivocally bold assertion, but not one made by any government, EV manufacturer, media source or advocacy group, but rather, by the independent consulting and research organization IDTechEX, who claim to be the only analyst with 18 current reports — continuously updated — forecasting sales of electric vehicles and their components.
IDTechEx has been tracking developments in the electric vehicle market for the last eleven years by touring the world’s companies, research institutes and conferences to gain insights into key technology changes and business opportunities in the EV market. They have just published their new 2012 forecast with a 10 year horizon, and whether you like EVs or not — their take is that they are here to stay.
Overall, IDTechEX's report is very bullish about the future of EVs. Even so, they mention that the price premium of electric vehicles and hybrids must become small to non existent to be successful, and the electric-only range of vehicles must be a useful one — not a token gesture — to be compelling.
Electric Car image via Shutterstock