Electric Vehicle Market in US Expected to Grow 43 Percent by 2015

Electric Vehicle Market in US Expected to Grow 43 Percent by 2015

Despite Fisker‘s recent woes and the waning sales of the Nissan Leaf, analysts predict that the electric vehicle market will experience a compound annual growth rate (CAGR) of 43.39 percent over the period of 2011-2015.

A new market research report on the electric vehicle market is now available, detailing key factors that will impact the growth of EVs over the next few years. Of course, we’re still experiencing the high cost of electric vehicles acting as a barrier to growth, but it’s widely believed with a better charging infrastructure in place in America, that EVs will become more commonly accepted.

It’s worth mentioning that the expected growth includes plug-in electric vehicles and pure electric vehicles, which means the Chevrolet Volt’s continued success may be an indicator of which way the market is heading. The in-depth report analyzes the major automakers involved in the market currently: Nissan, GM, Tesla, Fisker, and Smith Electric Vehicles. Focus is also placed in the availability of charging stations across the US currently, and in the near future.

Tesla recently began deliveries of its new Model S vehicle, which hopes to target a mainstream audience, albeit one looking for a more luxurious electric vehicle – but not as luxurious and problem prone as Fisker’s offerings.

Additionally, the market has recently seen the launch of the Ford Focus Electric and Honda Fit EV, as well as the new Toyota RAV4 EV.

  • Jochen

    What study is this based on?