Sales of hybrid and battery electric heavy- and medium-duty trucks will nearly double worldwide this year, and more than 100,000 will be on roadways by 2017, a research group said.
Pike Research said the combination of a growing truck market and rising fuel prices will convince more fleets to purchase hybrids or all-electric vehicles.
“The worldwide market for hybrids and plug-ins will grow at 92% in 2012, with total sales surpassing 19,000,” the firm said Jan. 12.
Pike Research, Boulder, Colo., describes itself as a market research and consulting firm.
The company said that it “expects the market to experience a compound annual growth rate of 47.2% between 2011 and 2017, reaching 100,746 truck sales by the end of that period.”
“The performance of specific economic sectors will play a big role in the growth of electric drive-trains for trucks,” said Pike senior analyst Dave Hurst.
“For example, as the retail industry rebounds, pick-up and delivery vehicle sales will rebound with it. This in turn will have a positive impact on the hybrid, plug-in, and battery electric truck markets, as well,” Hurst said in a statement.
Fleets that want to demonstrate their concern in protecting the environment and government regulations will also help sales, the report said.
“Driving sales of these vehicles will be fleet owners’ desire to demonstrate that their vehicles are more environmentally friendly than competitors’ fleets, and government emission regulations that have a bottom-line cost impact on fleet operators,” the statement said.
