Just a day after we told you about a new study from Pike Research that suggested unproven technology may hinder the sales success of plug-in electric vehicles (see article), now the company is back with another prediction for the marketplace.
It is now suggesting that the Asia-Pacific region will be the largest market worldwide for plug-in electric vehicles thanks to national-level initiatives and programmes to promote awareness combined with strong demand across China, Japan and Korea.
Predictions suggest that unit sales of all electrified vehicles in the Asia-Pacific region will surpass 1.2million by 2015 – representing a compound annual growth rate of 28 per cent. China alone will see a surge of 76 per cent to reach 554,114 unit sales by 2015.
It is further estimated that charging station sales in the region will surpass 860,000 units with revenue reaching $865million in 2015. Electrified vehicle shipments are also expected to grow rapidly.
Among the national incentives that will encourage growth are aggressive goals, subsidies for electric vehicle purchasers, research and development support and demonstration projects as well as tax incentives and public education programmes.
However, there are still significant barriers to plug-in electric vehicle uptake including consumer concerns about driving range and a near-term shortage of charging stations. The issue surrounding charging stations should become less of a problem over time with around 2.6million electric vehicle charge points likely to be in place across the region by 2015.
