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Sales of HEVs in Western Europe to Grow 21% Annually Through 2022
June 21, 2018 (Investorideas.com Newswire) Sales of hybrid electric vehicles (HEVs) in Western Europe are anticipated to more than double through 2022, rising on average annual gains of 21% to 1.9 million units. The continuation of the subsidies, tax benefits, and infrastructure incentives available in 2017 will promote West European HEV sales. These and other trends are presented in Global Hybrid & Electric Vehicles, 4th Edition , a new study from The Freedonia Group, a Cleveland-based industry research firm.
Additional factors promoting regional sales growth include:
- stated targets in many West European nations for banning diesel and petrol vehicles
- stated HEV penetration goals in many West European countries
- an increasing number of city centers with restricted-access environmental or emissions-free zones
Through 2022, full hybrid electric vehicles (FHEVs) are anticipated to account for most sales gains: 45% of new HEV sales in Western Europe. Nevertheless, FHEVs will continue to see their share of HEV sales fall through the forecast period. Plug-in hybrid electric vehicles (PHEVs) and battery electric vehicles (BEVs) will register the fastest average annual advances through 2022 and will together account for over 50% of new HEV sales, buoyed by the increasing number of models available and falling lithium-ion battery costs.
Global demand for hybrid and electric vehicles is forecast to advance 23% per year through 2022, an acceleration from the rate registered between 2012 and 2017. China will register the fastest and largest sales gains, accounting for more than 70% of new sales through 2022, when it will surpass Japan to become the leading global HEV market.
Global Hybrid & Electric Vehicles, 4th Edition (published 5/2018, 317 pages) is available for $6200 from The Freedonia Group. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email .
Related studies include:
- #3624 Recreational Vehicles in the US, 6th Edition (April 2018)
- #3634 Global Motorcycles (May 2018)
About The Freedonia Group, a division of MarketResearch.com - The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Automotive & Transport studies can be purchased at https://www.freedoniagroup.com, www.marketresearch.com and www.profound.com.
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