Market Research Report
Market Data - EV Geographic Forecast - North America: US and Canadian Light Duty Plug-In EV Forecasts by Province, State, and Major Metropolitan Area
|Published by||Guidehouse Insights (formerly Navigant Research)||Product code||976176|
|Published||Content info||33 Pages; 51 Tables, Charts & Figures
Delivery time: 1-2 business days
|Market Data - EV Geographic Forecast - North America: US and Canadian Light Duty Plug-In EV Forecasts by Province, State, and Major Metropolitan Area|
|Published: December 10, 2020||Content info: 33 Pages; 51 Tables, Charts & Figures||
Global sales of light duty (LD) plug-in EVs (PEVs) reached nearly 2.5 million in 2019 with a sales growth of 30% over 2018. However, 2020 may tell a different story for the light duty vehicle (LDV) market around the globe. In North America, LDV sales decreased due to the economic impacts of the COVID-19 pandemic. Guidehouse Insights anticipates LDV sales in North America to be down 20% in 2020 from 2019 levels, and even in the best-case scenario, the pandemic will have a lasting economic impact. The LDV market will likely take 5 years to fully recover.
Despite economic impacts to the LDV market, PEVs are proving to be a resilient vehicle market segment in some regions of the world, but less so in North America. In the near term, PEVs in North America are expected to see only a 5% decline from 2019, but long-term sales market share has slowed. The wealthier consumer base that currently purchases PEVs is likely to experience fewer impacts from the economic recession and still consider purchasing a vehicle, whereas other consumers may have to put their purchasing plans on hold. Given that long-term PEV sales expectations assume higher adoption from a broader group of consumers, the economic shift will likely have an impact on PEV sales through 2030.
This Guidehouse Insights report analyzes EV technology innovations, incentives, policies, and vehicle availability to forecast PEV adoption in the US and Canada on a national, state/province, and sub state/province level. Guidehouse Insights employs the Guidehouse Vehicle Adoption Simulation Tool (VAST) to create three forecast scenarios. The forecasts include passenger car (PC) and light truck (LT) breakouts, as well as powertrain breakout by plug-in hybrid EVs (PHEVs) and battery EVs (BEVs). Additionally, the report includes charging port forecasts by residential and nonresidential use cases on a national and state/province level. All forecasts have a conservative, base, and aggressive scenario.