IDTechEx: Global Sales Of Hybrid and Electric Cars To Triple To $178.9 Billion In 2024

AUG 9 2014 BY STAFF 5

Chevy Volt

Chevy Volt

According to the industry analysts at IDTechEx:

“…the global sale of hybrid and pure electric cars will triple to $178.9 billion in 2024 as they are transformed in most respects.”

The IDTechEx report, “Hybrid and Pure Electric Cars 2014-2024” claims that the automobile as we know it is now being reinvented.

“In-wheel motors, fuel cell cars and the transformed battery situation” are just a few of the ways in which vehicles are being reinvented.

Per IDTechEx:

“In-wheel motors are at last appearing in born-electric vehicles optimised for this disruptive change. 140 lithium-ion battery manufacturers and their changing success with EVs and changing chemistry are analysed. They are now threatened by Tesla planning a mega factory to dwarf all of them put together.”

“Very different options for the elements of an EV are now emerging. It may be possible to have flexible batteries over the skin of the car in due course. Sometimes such laminar batteries permit faster charging and greater safety. In about ten years structural components – load-bearing supercapacitors and batteries will save even more space and weight in the most advanced vehicles.”

“Radically new functional systems with previously impossible shapes and functions will transform e-car systems beyond recognition…”

We’re not so sure that all of these changes will make it into the vehicles we drive by 2024, but it’s clear to us that the automotive space is definitely set to change in a dramatic way over the next decade.

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5 Comments on "IDTechEx: Global Sales Of Hybrid and Electric Cars To Triple To $178.9 Billion In 2024"

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Triple in 10 years? Talk about extreme pessimism.

I don’t know if I’d call that pessimism, but I think we can hit that number pretty easily.

Yes and soon we can all have ponies.

In wheel motors are not ready for prime time. The rest is just Giga hype. But please buy their study.

It is hard to see what is the point of in-wheel motors?

They require more expensive permanent magnet motors and still the unsuspended weight of car is increased. This makes the handling of car worse. There is a reason why people have paid extra to have aluminium wheels now for decades . . . the point is to reduce the mass of wheel.

However AWD is obvious choice for electric car. The question is that should we have two or four electric motors. Typically the cost of electric motor correlates roughly linearly with power output of electric motor. Therefore it could make sense to have four motors so that individual wheels are easier to control. But Tesla chose single motor per axel approach. I guess that they analyzed that it is better than having twin motors per axel.

I guess that 169 billion EV markets could be reasonable lower end estimate. This is because hybdrids will go extinct by 2024. Hybrids are Rube Goldberg machines so they cannot have relevant growth potential, but markets will probably shrink.

It is just easier to make slightly bigger fuel tank than to try to engineer e.g. regenerative braking system into gas mobile.

What’s wrong with having a pony?