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Renewable Energy Alert: IDTechEx Predicts the Total Hybrid & Pure Electric Vehicles Market will be US334 Billion by 2023

December 10, 2013 (Investorideas.com renewable energy stocks newswire) The total global gross value market for hybrid and pure electric vehicles will reach US334 Billion within the decade, from a current value of US69 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. All these vehicles are primarily bought on Total Cost of Ownership TCO and performance.

The top ten manufacturers of hybrid and pure electric vehicles include little known names such as Kion Industries and Jungheinrich due to their pure electric and hybrid forklifts. 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.”
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