New car market to be flooded with 100 new plug-in hybrid models by 2021
Research predicts nearly four million PHEVs could be on the road by 2025
The plug-in hybrid vehicle (PHEV) market is set for “transformational growth”, a new study has found.
Research conducted by consultants Frost & Sullivan predicts that 3.7 million PHEVs will flood the market by 2025.
The transformative growth will be caused by a number of key factors that will make alternatively fuelled vehicles more appealing to consumers, such as favourable ‘green car’ cash incentives, improved economy figures and increased consumer acceptance.
Most mainstream manufacturers see PHEVs as key to meeting stringent emissions targets, with the likes of Volkswagen, Mercedes-Benz and BMW leading the way with dedicated electrified platforms.
Researchers have pinpointed 100 new PHEV model launches that will happen by 2021 and help drive uptake. High-performance and luxury motors including the Maserati Levante, Bentley Bentayga and BMW M3 are all leaning towards hybrid technology, taking it away from its low-cost, economical roots.
However, Frost & Sullivan notes that uptake could be impeded by a number of factors, such as dwindling incentives and the arrival of long-distance pure-electric models.
Pooja Bethi, intelligent mobility analyst at Frost & Sullivan, said: “The stringent emission norms of 95g of CO2/km can only be met by PHEV technology, while EV battery technology evolves to overcome limitations.
“PHEVs have a better market than [pure-electric cars] due to uncertainty in charging infrastructure.
“Improvements in battery chemistries and energy density will boost the electric-only range of PHEVs, while fast-charging stations will help reduce charging times drastically.”
The research appears to be backed up by strong sales for pure-electric and PHEV models in the UK. According to car industry trade body the Society of Motor Manufacturers and Traders, the latest year-to-date figures show alternatively fuelled vehicle sales have increased by 23.8 per cent.
Pure-electric cars have seen a 41.6 per cent increase over the same period, while petrol-electric hybrid sales have gone up by 38.9 per cent.
That’s impressive compared to petrol models, which saw take-up increase by nearly seven per cent, while diesel sales dropped by 6.4 per cent.
