CAMBRIDGE, England--(EON: Enhanced Online News)--The contrast between industrial and commercial electric vehicles and separately the electric car sector is now extreme. In 2013, industrial and commercial vehicle sales will exceed previous estimates reaching $30 billion and overtaking electric cars at $28 billion according to findings by technology and market research analysts IDTechEx in a recent report forecasting the industrial and commercial electric vehicles market.
“It is entirely possible that hybrid and pure electric cars taken together will make no profit at all over the coming decade, with the exception of Toyota hybrid cars. E-cars are massively dependent on government support which can be withdrawn at any time. By contrast, the industrial and commercial EV sector is doing extremely well, largely independently of government support. Toyota Material Handling alone makes hundreds of millions of dollars in profits every year from electric forklifts,“ Says Dr Peter Harrop, Chairman of IDTechEx.
In the 2nd quarter of 2013, Toyota Industries, of which Toyota Material Handling is the largest part, reported 27.9 billion yen net profit, an increase of 92% from the same period of the previous fiscal year. IDTechEx now predicts that the industrial and commercial electric vehicles business will increase its lead to be $154 billion in 2023 vs $119 billion for cars, hybrid and pure electric, the next biggest sector of the EV market.
When it comes to global distribution of this newly dominant sector, most electric forklifts continue to be bought in Europe but China will buy by far the largest number of electric buses in the coming decade – a contrast with Japan and the USA being strong buyers of electric cars. Other parts of the industrial and commercial electric vehicle sector will be more evenly distributed across the globe, including airport ground support equipment and on-road delivery vehicles.
The comprehensive report “Industrial & Commercial Hybrid & Pure Electric Vehicles 2013-2023: Forecasts, Opportunities, Players“ (www.IDTechEx.com/icev) provides forecasts of the heavy industrial, light industrial & commercial, bus and taxi global markets by numbers, ex-factory price and total market value for the coming decade. In addition to chapters on these sectors, there are chapters on the market drivers, the key technologies and their future trends all pulled together with summary charts, graphs and profiles of latest company activity.
For more information about IDTechEx visit www.IDTechEx.com