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Analysis of the $65 billion 2013 hybrid and pure electric vehicle car

The new report from IDTechEx Hybrid & Pure Electric Vehicles for Land, Water & Air 2013-2023: Forecasts, Technologies, Players finds that the total market for hybrid and pure electric vehicles will grow from 38.8 million vehicles (of all types) in 2013 to 116 million vehicles in 2023 – a $294 billion market.
May 28, 2013
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The new report from IDTechEx Hybrid & Pure Electric Vehicles for Land, Water & Air 2013-2023: Forecasts, Technologies, Players finds that the total market for hybrid and pure electric vehicles will grow from 38.8 million vehicles (of all types) in 2013 to 116 million vehicles in 2023 – a $294 billion market.

Volume forecasts by electric vehicle type

IDTechEx find that pure electric car sales in 2013 will be just 70,000 vehicles rising to 2 million in 2023, versus 2 million hybrid vehicles this year rising to 7.6 million in 2023. Of course, the big unit numbers come at the small end – most of the unit volume in 2013 will be for two wheeled vehicles – 32 million vehicles in 2013 rising to 94 million in 2023, albeit at far lower average price points. The number of electric vehicles sold by type in 2013 is shown below.

Number of electric vehicles sold in 2013 by vehicle type, based on IDTechEx Research findings

Source: IDTechEx report Hybrid and Electric Vehicles for Land, Water and Air 2013-2023: Forecasts, Technologies, Players

Forecasts by value by electric vehicle type

If we look at the figures by the value of each sector – including industrial, marine, buses and others – we sales as below for 2013.

Value of electric vehicles sold in 2013 by vehicle type, based on IDTechEx Research findings
Source: IDTechEx report Hybrid and Electric Vehicles for Land, Water and Air 2013-2023: Forecasts, Technologies, Players

IDTechEx Research also find that hybrid and pure electric cars will be almost half the total value of all electric vehicles in 2023 as shown below.

Ex-factory value of EV sales in 2023, percentage by applicational sector
Source: IDTechEx report Hybrid and Electric Vehicles for Land, Water and Air 2013-2023: Forecasts, Technologies, Players

Cars are glamorous but are not as important as they seem

Although cars are the largest value sector, much more will be spent on other types of electric vehicle, taken together, over the coming decade. Indeed, cars will represent well under 10% of the profit made in EV manufacture in the next ten years and only 8% of the number of EVs made in 2023.

Electric vehicle trends by territory

Of the major sectors in 2023, Europe will still be the dominant market for EVs in the categories Heavy Industrial and Mobility for the Disabled. China will still be the main purchaser of e-bikes and e-buses but China, the Philippines and India will take most of the newly major category of car-like micro EV/quadricycles. On the other hand, the USA will still buy most Military EVs, so EV adoption will be far from a uniform global phenomenon even in a decade from now. And no, Toyota will not be deposed from the top slot at any time over the coming decade. The followers are too far behind.

One business

Electric vehicles are one business whether on- or off-road, on or underwater or in the air, from airships to robot insects, including manned and unmanned versions. This can be proved with the usual economic tests. For example, component and materials suppliers serve all these sectors and the market-leading vehicle makers all serve more than one applicational sector and many are expanding into yet more sectors.

New research report from IDTechEx

The new IDTechEx report Hybrid & Pure Electric Vehicles for Land, Water & Air 2013-2023: Forecasts, Technologies, Players provides detailed analysis of all these aspects, including ten year forecasts for twelve different vehicle types by number, unit price and value.

If you are looking to understand the big picture, the opportunity, the problems you can address, this report is a must. Researched by multilingual IDTechEx consultants based in four countries and three continents, this report builds on ten years of knowledge of the industry. For more information see www.IDTechEx.com/ev .

About IDTechEx

IDTechEx guides your strategic business decisions through its Research and Events services, helping you profit from emerging technologies. We provide independent research, business intelligence and advice to companies across the value chain based on our core research activities and methodologies providing data sought by business leaders, strategists and emerging technology scouts to aid their business decisions. To discuss your needs please contact us on research@IDTechEx.com or see www.IDTechEx.com .
Source idtechex.com

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