Plug-In Electric Vehicles to Total 12% of Global Fleets by 2030

A new report from Navigant Research that analyzes the global market for light duty (LD) and medium and heavy duty (MHD) plug-in electric vehicle (PEV) fleets, reports that plug-in electric vehicle fleets are Expected to comprise up 12% of the  fleet vehicle population by 2030.

The overall fleet electrification sector is being driven by battery innovations, energy economics, and government regulation of transportation pollution. 

Other factors are at play: Cost reductions in batteries and other PEV technologies are reducing the purchase price of PEVs, while governments are incentivizing adoption with purchase incentives and emissions reduction goals. 

The current PEV fleet population is expected to make up less than 1% of the fleet vehicle market. 

“Fleet electrification has largely focused on the LDV segment to date. However, recent developments with electric MHDVs point toward encouraging signs of future growth in that segment,” says Raquel Soat, research analyst with Navigant Research. “For example, the 2017 introduction of the Tesla Semi, BYD’s debut of its refuse truck in 2018, and the success of electric buses in China over the last 4 years all show momentum toward larger fleet electrification.”

According to the report, many fleets have made commitments to use electricity in all or part of their vehicles in the next decade, including large MHDV fleets such as DHL, UPS, FedEx, and several city bus fleets in China. While the transportation industry is transforming its energy system, it is also being disrupted by innovations in automated vehicle systems and advances in battery energy density. Vehicle automation will likely encourage greater use of LDVs to augment alternative or public transportation modes and transform MHDV markets and uses.

Category: General Update, Green, News