As global economies slowly recover, manufacturers have indicated that electric car infrastructure production will begin in earnest in 2010. Government grants created to stimulate economic recovery, particularly in the U.S., will fuel growth in the sector.
Electric vehicle infrastructure production efforts include manufacturing of the rechargeable batteries, drive trains and charging stations required to operate the electric cars. Electric vehicle production itself is on track for global sales exceeding 1 million hybrids a year by 2013.
Europe, the current leader in electric vehicle infrastructure manufacturing production, is expected to maintain its stronghold through 2014. However, its global share will slip as North America and Asia gain ground.
According to the industry study Electric Vehicle (EV) Infrastructure Manufacturing conducted by leading market research publisher SBI Energy, the North American market will grow from $9 billion in 2009 to $20 billion in 2014.
"Our study projects North America will hold 20% of the electric vehicles infrastructure manufacturing market by 2014, driven by government incentive programs and the movement toward eco-friendly consumer lifestyles," says Shelley Carr, publisher for SBI Energy.
"While government capital is vital, growth also depends heavily on the investment interests of the private sector and the adoption of plug-in hybrid electric vehicles and electric vehicles by consumers."
Electric vehicle sales depend upon the support of charging stations, batteries, and smart grid tie-in. Consumers will be won over by reliability, safety, and system convenience. The onus is on the cooperation of utilities to modify their established grids to adapt to the electricity demands of electric vehicles and their users.
Electric Vehicle (EV) Infrastructure Manufacturing examines the global electric vehicle market with forecasts through 2014 and provides detailed information on the smart grid market, rechargeable batteries, electric vehicle ownership and stimulus funds for infrastructure development. Company profiles feature manufacturers competing in the industry, trends and activities worldwide.
SBI Energy (Specialists in Business Information), a division of MarketResearch.com, publishes research reports in the industrial, energy, building/construction, and automotive/transportation markets. SBI Energy also offers a full range of custom research services.