Pike Research Predicts Hybrid Vehicles to Reach 4 Million Units by 2015


In brief: Pike Research predicts that cumulative sales of hybrid vehicles between now and 2015 will total 4 million worldwide.

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USPS Fleet

Pike Research, a cleantech market intelligence firm, sees the 2009 sales of 300,000 hybrids increasing to 830,000 in 2015, totaling 4,000,000 units between now and then.

Managing director Clint Wheelock says that North America will see 8% of all fleet sales moving to hybrids within five years and most of the upsurge in hybrid sales will be in medium and heavy duty vehicles.

With corporate fleets and transportation companies seeing a need to reduce emissions while lowering fuel costs, hybrids will look more and more compelling to them.

Governments, universities, and utility companies will lead the way in the move towards fleet-wide hybridization.

"Almost every vehicle manufacturer has a hybrid program and the economic downturn has not hit HEVs as hard as ICE vehicles. As a result, sales of HEV will maintain relatively steady sales globally (compound annual growth rate of 11% by 2015)," says the report Hybrid Electric Vehicles for Fleet Markets.

The report, Hybrid Electric Vehicles for Fleet Markets is available from Pike Research.

Photo credits: Pike Research

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