STUDY: Market share for plug ins, hybrids set for huge growth by 2013

Reports that hybrid vehicles would continue to be popular are nothing new and seem to be coming true. But a new study by NextGen Research paints a picture that might be a bit too rosy. Maybe.

Components used in electric and hybrid vehicles will see a huge growth spurt in the coming years, NextGen found. Vehicle battery modules, for example, are expected to go from about $1.3 billion last year to $3.7 billion by 2014. For comparison, read these recent posts discussing these sorts of components with David Cole (difficult but positive) and Guido Reinking (expensive and negative).

The growth is expected to come from a huge increase in the sales of plug-ins and hybrids. NextGen predicts that, in 2013, these vehicle types will make up eight percent of the new vehicle sales in the U.S., compared to something like two percent last year. In numbers, NextAuto sees hybrids climbing from sales of 550,000 last year to two million in 2013, with plug-in vehicles going from 10,000 last year to 350,000. An overall four-fold increase in the four years? That'd be something.

[Source: NextGen Research via Green Car Advisor]
Photo by mujitra (´・ω・). Licensed under Creative Commons license 2.0.

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