January 31, 2011 11:08 ET

Hybrid Electric Vehicles Market to Grow 19.1% Annually Through 2015

ROCKVILLE, MD--(Marketwire - January 31, 2011) - has announced the addition of BCC Research's new report "Hybrid & Electric Vehicle Progress Review 2010" to their collection of Automotive market reports. For more information, visit

Hybrid and Electric Vehicle Progress Review covers technical developments in electric, hybrid and fuel cell vehicles as well as industry and financial news related to the development of this market sector. No hybrid vehicle (HV), no hybrid plug-in electric hybrid (PHEV), no fuel cell (FC) vehicle, or the so-called pure electric vehicle (EV) and no traditional internal combustion engine (ICE) vehicle is going to operate without a battery of some type. The place to look at the developments in practically zero emission vehicles is battery improvements and chemistries. Under consideration are the so-called secondary or rechargeable batteries.

The global electric vehicle market in 2009 was worth more than $26 billion, including more than $4.6 billion worth of associated power sources. This market is expected to grow at a compound annual growth rate (CAGR) of 18.5% between 2010 and 2015 under a consensus scenario. This will result in a $78 billion global market in 2015, along with a $7.6 billion power source market.

The hybrid electric vehicles market is worth an estimated $19.3 billion in 2010 and is expected to reach $46.2 billion in 2015, a compound annual growth rate (CAGR) of 19.1% under a consensus scenario.

The HEV and PHEV battery market is expected to grow at a compound annual growth rate (CAGR) of 15% over the next 5 years, from $1.3 billion in 2009 to reach more than $2.6 billion in 2014.

For more information, visit

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