Electric Vehicle (ev) And Plug-in Hybrid Electric Vehicle (phev) Markets Worldwide-aarkstore Enterpr

In 2009, the Toyota Prius hybrid electric vehicle (HEV) became the best selling passenger

vehicle in Japan, beating out all other gasoline powered cars. It has been thirteen long years, but hybrids have finally hit the big time. No longer just for environmentalists, electric vehicles (EV) are now mainstream.

Hybrids have always been a niche market, capturing one percent or less of the world passenger vehicle market through the first decade of the millennium. But in 2009, Energy estimates that just over 700,000 electric vehicles were sold worldwide, with 99% of those being hybrid electric vehicles. HEVs stole 1.5% of the world passenger vehicle market in 2009, and almost 8% of the same market in Japan.

The demographics for hybrid ownership are still very much skewed towards affluent, educated families; the classic early adopters of new technologies. But with the surge of general consumer acceptance of HEVs, seen by the uptake in HEVs in 2009 even during the most difficult recession since the 1930s, there will be new consumer segments purchasing HEVs in the coming years.

And with hybrids hitting the mainstream, plug-in hybrid electric vehicle (PHEV) and BEV models are not far behind. Plug-in electric vehicle products from Toyota, Nissan and Mitsubishi are coming to market in 2010, following in the successful tire tracks of hybrids. But the lithium-ion battery technology required to make PHEVs and BEVs with a sufficient driving range to appeal to consumers is expensive, leading to a cost premium for plug-in vehicles that will keep sales minimized over the next four to five years. This leaves the road wide open for hybrids to continue to dominate the EV market.

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by: Aarkstore Enterprise

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