Electric Vehicles - Seeing the Big PictureThe burgeoning electric vehicle EV industry cannot be understood by simply looking at cars. Indeed, in the last year, only the electric car sector of EVs has lost a year due to the Japanese tsunami and badly delayed model launches and it has been particularly sensitive to troubled economies as well. IDTechEx has adjusted its forecasts accordingly and now sees cars as less than half the EV business by value for the coming decade.
IDTechEx has substantially rewritten its annual Electric Vehicles report for 2012. It is based on ten years of researching the subject, intensive desk research, visits and interviews. There are chapters on Heavy Industrial, Light Industrial and Commercial, Mobility for the Disabled, Two Wheelers, Golf Cars, on-road Cars, Military, Marine and Other vehicles. That even extends to electric mobile robots, surveillance jellyfish and other Autonomous Underwater Vehicles (AUVs), bats and electric aircraft. After all, they can all be a target for component and system suppliers and, increasingly, the vehicle manufacturers themselves are diversifying horizontally. Detailed forecasts for these vehicle categories by numbers and value and the key components are provided for 2012-2022, with total market value. The trends, technology and planned vehicles are clarified in 146 figures and 52 tables including the historical context. Winning and losing strategies are evaluated. Timelines are given of events to come.
At last the full picture of China
IDTechEx does not make the common mistake of reporting primarily on vehicles from the well known Western and Japanese manufacturers. 66% of the manufacturers of electric vehicles in the world are in China. Over 90% of the world's electric vehicles are made in China, mainly for use in China. It has the largest potential market for electric vehicles. It mines and controls 95% of the World's rare earth reserves used in the hybrid car batteries, motors and other key components of today's electric vehicles. Of the 420 EV manufacturers covered in this new report, an appropriately high proportion are Chinese. This is particularly true of the chapters on Heavy Industrial, Buses, Light Industrial and Commercial, Mobility for the Disabled, Two Wheelers, Golf Cars and Cars, where the Chinese heavily participate, as yet with little publicity, because so much of it is for the domestic market.
New ten year forecasts for the whole EV market are only available from IDTechEx. The company finds that the electric vehicle industry will continue to exhibit strong growth for the next decade, though some sectors were impacted by the global financial meltdown and have yet to fully recover. Those participating in only one sector need to keep a wary eye on those with a broader vision: they must frequently review their strategy and avoid dangerous tunnel vision.
Good volume growth but greater value growth
The 35 million EVs sold in 2012 will rise 3.6 times to nearly 129 million in 2022, driven by e-bikes, but the value of the market will grow twice as much because larger and more expensive vehicles are now rapidly adopting the technology. Motorcycles, military vehicles, buses and earthmovers are among them. Hybrids will rise in their dominant share of the value market through the decade. In ten years from now, a far higher percentage of the global output of light industrial vehicles, commercial vehicles and cars will be EVs but for greatest elimination of conventional internal combustion engines vehicles, one must look elsewhere - this report explains and gives latest projections of penetration.
Find More: Electric Vehicles 2012-2022
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