Research Analysis Predicts 7.6 Million Hybrid Sales Worldwide by 2023

A new research study predicts that the hybrid-electric vehicle market will increase from 2 million units sold worldwide in 2013 to 7.6 million in 2023. The pure electric vehicle (PEV) market will likewise increase in sales from 70,000 in 2013 to 2 million units by 2023.

by Staff

June 5, 2013

1 min to read

These figures are contained in a new report from IDTechEx that predicts the market for all hybrid and electric vehicle types, including passenger, off-road, two-wheel, marine, and air models.

Statistics in the report, "Hybrid & Pure Electric Vehicles for Land, Water & Air 2013-2023: Forecasts, Technologies, Players," predict that, by 2023, Europe will dominate the market for EVs in the categories of heavy industrial and disability mobility. China will be the main purchaser of e-bikes and e-buses. In addition to China, the Philippines and India will be the primary markets fo the car-like micro EV/quadricycles. The U.S. will be the primary purchaser of military-grade EVs. The authors of the report conclude that, while EV adoption will be increasing, it won't be a uniform process from market to market.

Topics:Small Fleet

Originally posted on Automotive Fleet

More Small Fleet

Promotional graphic for a Utilimarc guide titled Beyond Utilization Rates: How Data-Driven Fleets Are Rethinking Vehicle Replacement, featuring a report cover with fleet vehicles, key benefits, and a call-to-action to download the guide.

Beyond Utilization Rates: Smarter Fleet Replacement Decisions

Vehicle replacement decisions affect every aspect of fleet performance, from operating costs to asset availability. This guide explores how fleet leaders use integrated data, benchmarking, and lifecycle analytics to determine the right fleet size and optimize replacement timing with greater confidence.

Cover of a whitepaper titled “The Hidden Costs of Departmentally Assigned Vehicles on Your Fleet” featuring a black fleet vehicle driving on a road at sunset. Subheadline reads: “Discover how your fleet can reduce costs and minimize risk by implementing vehicle sharing.” The document focuses on fleet optimization, vehicle sharing, cost reduction, utilization tracking, and risk management for fleet operations.

Why Fleet Managers Are Replacing Departmental Vehicles with Shared Motor Pools

Departmentally assigned vehicles often create hidden costs through underutilization, poor visibility, and increased administrative burden. This white paper explores how shared motor pool strategies help fleets reduce costs, improve accountability, and optimize vehicle utilization.

Boosting Last-Mile Fleet Uptime, Safety, and Value with AI Vehicle Inspections

AI-powered inspections are transforming last-mile fleets by replacing manual checks with highly accurate automated scans that detect defects in seconds. By giving fleet operations visibility into the daily condition of their vehicles, you can identify trends over the vehicle’s lifecycle that enable improved procurement decisions, route management, driver training and accountability.