Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Companies

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors

IDTechEx Predicts the Total Electric Vehicles Market will be US$334 Billion by 2023

12/03/2013 | 12:34pm EST

The total global gross value market for electric vehicles will reach US$334 Billion within the decade, from a current value of US$69 Billion, forecast analysts IDTechEx. This will primarily consist of large or very heavy duty vehicles, neither of which is primarily bought on up-front price. These military, industrial and commercial vehicles are evenly split between on-road and off-road types, but with a multi-billion dollar marine sector coming up fast.

Toyota has EV sales that dwarf those of its next nine competitors put together because it is number one in electric forklifts and hybrid cars and near the top with its electric buses. It cross fertilises the technologies in these sectors and continues to widen its portfolio, a variant on an electric motorbike being the latest example. Chairman of IDTechEx, Dr Peter Harrop says, "Companies entering the top ten over the coming decade will be ones with a broad approach and/or backing the next winners such as Yutong in the Chinese e-bus market, since China will buy over 80% of the world's e-buses."

The unique report Electric Vehicle Forecasts, Trends and Opportunities 2014-2024 (www.idtechex.com/ev) provides information essential for those seeking to dominate niches or volume sales of electric vehicles by making either the vehicles themselves or their components, all of which are rapidly changing.

Supercapacitors sometimes replace traction batteries, Silicon carbide and gallium nitride power components will partly replace silicon ones and multiple energy harvesting will become commonplace. Even the vehicles themselves are radically changing. Pure electric buses are becoming more popular than hybrid ones and a large market for small electric aircraft and robot lawnmowers is expected near the end of the coming decade. At this time pure electric cars will take off in sales as range improves up to five fold, due to much more than improvement in batteries, and cost becomes acceptable for mass use.

Meanwhile, a new sector is growing rapidly - the car-like vehicles that are not homologated as cars so they are simpler and much lower in cost. These are the MicroEVs homologated as quadricycles in Europe, and aimed at massive markets such as electrifying the 3.2 million highly polluting three-wheeled taxis in the Philippines.

For more information about IDTechEx visit http://www.idtechex.com

IDTechEx
Teresa Henry
UK: +44-(0)-1223-813703
USA: +1-617-577-7890
t.henry@IDTechEx.com


© Business Wire 2013
Latest news "Companies"
05:31pZIOPHARM ONCOLOGY : WaterMill Asset Management Refutes Ziopharm Oncology's Desperate, Low-Road Smear Campaign
BU
04:39pVF : Prepared to Pivot | Digital Tech Team's Strategy for Online Demand Sees Spike in Sales
PU
04:00pROSEN, RESPECTED INVESTOR COUNSEL, Reminds Aurora Cannabis Inc. Investors of Important December 1 Deadline in Securities Class Action; Encourages Investors with Losses in Excess of $100K to Contact Firm – ACB
GL
03:04pBrexit negotiations restart in person as clock ticks down
RE
03:03pAMAZON COM : Tony Hsieh, retired Zappos CEO, dies at 46 after house fire
AQ
02:56pBLACK FRIDAY & CYBER MONDAY MATTRESS DEALS 2020 : Twin, Queen & King Size Mattress Sales Published by Deal Tomato
BU
02:49pCanada blocks bulk exports of some prescription drugs in response to Trump import plan
RE
02:44pALIBABA : House to Vote on Booting Chinese Stocks From U.S. Over Audit Rules -- 2nd Update
DJ
02:28pJUVENTUS FOOTBALL CLUB : Inter wins 3-0 at Sassuolo to end hosts' unbeaten start
AQ
02:01pMESOBLAST : ROSEN, RESPECTED INVESTOR COUNSEL, Reminds Mesoblast Limited Investors of Important December 7 Deadline in Securities Class Action; Encourages Investors with Losses in Excess of $100K to Contact Firm - MESO
PR
Latest news "Companies"