March 15, 2010 10:10 ET

Electric Vehicle Market Finds Growth in New Markets; EV Infrastructure Manufacturing Challenged to Step Up

NEW YORK, NY--(Marketwire - March 15, 2010) - For years advertising from government and car companies alike have boldly stated that it was only a matter of time before electric vehicles took over the car industry. Now, electric vehicles, in the form of hybrids that combine gas and electric motors, are finally beginning to do just that.

According to SBI Energy's latest market study, Electric Vehicle (EV) and Plug-In Hybrid Electric Vehicle (PHEV) Markets Worldwide, the U.S. and Japan currently make up the largest segments of the hybrid electric vehicle marketplace, with 42% and 48% market share, respectively.

"SBI Energy forecasts the market to double, for a total of 1.5 million passenger hybrid vehicles sold in 2014," says Shelley Carr, SBI Energy publisher. "The majority of growth will stem from smaller HEV markets such as Europe, Australia and South Korea, as well as new markets such as India and China. These countries, SBI Energy forecasts, will see a phenomenal 47% growth rate over the next four years."

In the global perspective, future growth of the electric vehicle market will depend on three key motivators: Pain at the pump; Government Support; and Price differential.

-- Astronomical oil prices experienced in 2007, lead to the sale of
   353,000 hybrid vehicles that year.  This proves that consumers
   purchase the most efficient vehicle possible when gasoline
   prices rise.

-- Government incentives will continue to be the primary motivator
   behind consumer sales of hybrid electric vehicles.  In the U.K.,
   the British government has created a subsidy program worth 230
   million pounds for electric car purchases.  Furthermore, they
   have approved 30 million pounds to implement charging stations.
   Manufacturers in the U.S. will also benefit from federally funded
   grants, such as $5 billion available to produce energy efficient
   batteries and $500 million more to create the components needed
   for EVs.

-- Just as important as government incentives and oil prices is a
   reduction in the price between hybrids and non-hybrids. The price
   for hybrid vehicles is currently $3,000 to $7,000 more than the
   price of a similar gasoline-only vehicle.  A premium some
   consumers are not willing to pay.

Success of the EV market is also incumbent upon the EV infrastructure manufacturing industry. Infrastructure components include the smart grid, advanced battery research and vehicle charging stations that enable drivers to refuel their vehicles conveniently and effectively. According to SBI Energy's market research study, Electric Vehicle Infrastructure Manufacturing, the global market value of smart grid manufacturing related to plug-in and electric vehicle deployment is $29 billion. This equates to nearly 42% of the total smart grid market value.

Electric Vehicle (EV) and Plug-In Hybrid Electric Vehicle (PHEV) Markets Worldwide and Electric Vehicle Infrastructure Manufacturing from SBI Energy provide an integrated, precise view of electric vehicle markets today and into the future.

Electric Vehicle (EV) and Plug-In Hybrid Electric Vehicle (PHEV) Markets Worldwide analyzes the manufacturing and sales of electric based passenger vehicles throughout the world with a particular emphasis on the United States and Japan as the leading markets for electric vehicles. The report also takes a look at technology and innovations related to the HEV, PHEV and BEV markets.

Electric Vehicle Infrastructure Manufacturing examines the market value of EV infrastructure manufacturing by country, projected deployment of EVs by type, global activities effecting development of EV and profiles of key EV infrastructure manufacturers.

In addition, data published in the following related market studies forecast profitability and new opportunities using 'green' technologies:

-- Geothermal Energy Markets: Technologies and Products Worldwide
-- HVAC, 2nd Edition -- Green and Global
-- Residential Generators, 2nd Edition - U.S. Market and World Data
-- Garage and Storage Shed Trends in the U.S., 3rd Edition
-- Roofing Materials in the U.S., 2nd Edition
-- Shovel-Ready Infrastructure Markets Bundle
-- Asphalt Manufacturing in the U.S.
-- Emerging Trends and Opportunities in the World Pesticides Market
-- Trends and Opportunities in the U.S. Basement Remodeling Market
-- Kitchen Cabinets in the U.S.
-- Polystyrene and Polyurethane Foam Insulation Products in U.S. Building
   and Construction
-- U.S. Market for Residential Water Treatment Products

About SBI Energy

SBI Energy, a division of, publishes research reports in the industrial, energy, building/construction, and automotive/transportation markets. SBI Energy also offers a full range of custom research services. To learn more, visit Follow us on LinkedIn and Twitter.

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