Strategic Outlook of the Global Electric Vehicle Market for 2016

NEW YORK, March 29, 2016 /PRNewswire/ -- This outlook presents the current electric vehicle (EV) market trends and provides an overview of the 2016 landscape. The research covers trends across Europe, North America, China, and selected countries in Asia-Pacific. Additional content focuses on EV sales in 2015 by region and segment, and estimates the market for 2016. It also offers a brief outline of the EV market to 2020. The study further discusses EV charging infrastructure trends across different geographies. Key conclusions and a future outlook of the market conclude the research. The base year for analysis is 2015 and forecasts extend to 2020.

2015 Key Highlights
1 Europe has emerged the market leader with over % market share for plugin hybrid and electric vehicles.

2 Europe has become the largest market for plugin hybrid and electric vehicles and battery electric vehicles, experiencing a growth of % in 2015. Government incentives and exemption on registration are the main drivers for growth in Europe.

3 Over plugin hybrid and electric vehicles were sold globally, compared to in 2014. Approximately % of the sales were of battery electric vehicles (BEVs), followed by plugin hybrid electric vehicles (PHEVs) with %, and extended-range electric vehicles (eREVs) with %.

4 The sales of electric vehicles declined in the United States due to factors such as a decline in oil prices and the announcement of new models to be launched in 2016. The new-generation EVs such as Nissan Leaf and Chevrolet Volt are to be launched in 2016 with upgraded battery packs and increased range.

5 Over models of BEVs and PHEVs were launched globally in 2015. Over models were launched in Europe and the rest in the United States and China. About % of the models launched were PHEVs; the remaining were BEVs.

6 The Volkswagen scandal has hinted to restarting the electric mobility programs; revised incentives and schemes were announced. For example, in Berlin, emphasis is on building charging stations for the convenience of electric vehicles while driving on the road.

2016 Top 5 Predictions
China will emerge as the leader, with over % market share, closely followed by Europe.
1 In 2016, approximately plugin hybrid and electric vehicles are likely to be sold globally. China will lead, with over % market share, followed by Europe with over %.

2 China will focus on increasing the growth of plugin hybrid and electric vehicles by not only availing cash incentives and subsidies, but also by subsidizing the maintenance and construction of electric vehicle charging infrastructure.

3 The electric vehicle market in the United States will regain a stable growth rate post-2016, as there will be a number of upgraded model launches for which the market has been looking forward. About upgraded models will be launched in 2016.

4 The Volkswagen Group's DieselGate will have a positive impact on the market for electric vehicles. The effect has been on the Volkswagen group itself, which plans to launch a number of plugin hybrid and electric vehicles in next years.

5 Tesla will manufacture vehicles in various regions, including China and India. In China, Tesla will manufacture Model E; it will also set up a battery manufacturing plant in India.
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