Report States Key Markets Failing To Meet Future EV Goals By 2020

5 years ago by Mike Buchanan 5

Market Research Reports, an India-based research firm, released a BEV market analysis, competitive landscape, and forecast to 2020.

Market Research Reports, an India-based research firm, released a BEV market analysis, competitive landscape, and forecast to 2020.

Market Research Reports, a research firm located in India, has release a new report outlining the failures of many major EV markets and how that might hurt the overall growth of pure BEVs (not EREVs) by the year 2020.

According to the report, long-term plans to reach specific goals will only be achieved if there is suffient government support to promote Battery Electric Vehicle on a global level.  Unfortunately, many markets are failing considerably to meet the planned deployment targets due to lack of infrastructure, lack of consumer awareness, and delays in the delivery of equipment.

Although some larger countries have implemented short and long-term financial incentive programs, Market Research Reports claims other daily advantages over petrol products, such as seen in China, where drivers in major cities are allowed to drive BEVs daily and not be limited to specific days as would be the case with internal combustion cars, will help continue future growth.

Although based in India, this report has information about specific countries and auto makers from around the world

However, according to the report, international BEV aspirations have not only been hampered by slow technology, but also simple supply problems. For instance, Market Research Report states that  Ireland had plans to deploy 6,000 BEVs by the end of 2012, but it has been pushed back due to suppliers failing to deliver necessary parts and equipment.

The report also states a common issue with BEV drivers.  For instance, there is insufficient infrastructure worldwide to support the use of BEVs in many rural and sparsely populated areas. The report concluded that without more facilities capable of replenishing batteries in short amounts of time (L2/QC), charging up and selecting routes based on charging stations will make long journeys in BEVs difficult.

Of interest in Market Research Report’s work was their claim that battery prices will decrease by 50% every four to five years based on clean technology and innovation. A fact that has not been born out over EVs first three years on the market.  However, the current price today compared to a gasoline powered vehicle is still relatively high based on the current BEV global average price of $39,270.

Using data and information sources from databases worldwide, primary and secondary research, plus in-house analysis with industry experts, Market Research Report is hoping to provide an in-depth analysis of BEVs at global and nation levels as it relates to everything from trends to restraints. To learn more about this study, take a look at the press release.

5 responses to "Report States Key Markets Failing To Meet Future EV Goals By 2020"

  1. Mark H says:

    Do we know who funded the report?

  2. Nelson says:

    Market awareness will automatically come with the buildup of public charging infrastructure. If all parking lots had charging stations people who can read would know what they’re for. Government money needs to be spent in building a public charging infrastructure that is reasonably priced for the consumer not the charging station owner. The BEV’s are already developed and being sold, now we need the public charging infrastructure nation wide.

    Reminds me of when I bought my first DVD player, there was only ten DVD movies available to play on it.

    NPNS!
    Volt#671

  3. BobbyK says:

    Personally, I don’t think its a lack of consumer awareness holding back sales, I think it’s the awareness on the part of consumers that EVs aren’t ready for prime time until there is a battery technology breakthrough. Also, I had a Leaf on order until I was told that the installation of my charger in my garage was extremely quick and easy because of the location of my breaker box. Cost? $2,600. Canceled my order. Ridiculous.

    1. Brian says:

      There are other (much cheaper) options. You could possibly live on L1 alone (I did for months before I got tired of the extra steps, not the extra charge time). You could buy a unit from Home Depot for about $750 and hire an electrician to install it. If you know someone who owns a Volt, you could do what I did, and buy the SPX charger for about $600. My charger installed cost less than $700. Nissan seems to be feeding off peoples’ lack of awareness. In cases such as yours, this has the ill effect of reducing interest in BEVs.

  4. Brian says:

    “Of interest in Market Research Report’s work was their claim that battery prices will decrease by 50% every four to five years based on clean technology and innovation. A fact that has not been born out over EVs first three years on the market.”

    The first of the current wave of BEVs hit the US streets in December of 2010 (as MY2011), not even two years ago. Saying “three years on the market” is just wrong.

    I think you’ll have to wait until at least MY2015 before you see significant changes in battery prices. That said, I don’t believe that by then the prices will magically be 50% lower.

    From my perspective in Upstate NY, it’s all about infrastructure, infrastructure, infrastructure. And not the over-priced L2s that are scattered around, but L3. Give me CHAdeMO along the NYS Thruway, and I can give you a list of people who are suddenly interested in the current BEVs.