RSSGreener agendas, emission-based taxation, parking charge exemptions, and mass-produced electric vehicles are all working together to increase the sales of microelectric vehicles to 0’118,000 units by 2017 within the North American market new analysis from Frost & Sullivan predicts. This represents a compound annual growth rate (CAGR) of 39.30 per cent between 2010 and 2017.
By 2013, the total count of microelectric vehicles in North America is likely to increase to 150 types, with the introduction of 34 new base models. The microelectric vehicles market has gained momentum with five out of ten global vehicle manufacturers expected to enter the market as major stakeholders.
Medium-speed vehicles (MSVs) and city electric vehicles (CEVs) are expected to experience tremendous advancement, boosted by infrastructure development, primarily through sales to private consumers.
"The rising popularity of MSVs is affected by strict federal laws, which hinder the long-term sale and production of these vehicles," said Frost & Sullivan industry analyst Vishwas Shankar. "Currently, low-speed vehicles (LSVs), MSVs and A-segment vehicles are tackling this challenge by incorporating conventional engine variants with carbon dioxide emissions, thereby qualifying them for regional grants and benefits, including access to high occupancy vehicle lanes and parking charge exemptions."
This development has enabled the entire automotive industry to evolve into an era of microelectric vehicles, which also address parking space availability issues in crowded city centres. New age business models targeted at fleets could also help overcome challenges faced by the increasing sales of microelectric vehicles. Tax breaks will drive consumer sales, as tax credits will reduce vehicle prices by half, on certain low-priced models.
In North America, the focus on alternate fuel driven vehicles, the increasing cost of vehicle ownership and the presence of neighbourhood electric vehicles (NEVs) is expected to propel microelectric vehicle sales several fold. Although MSVs are expected to outshine LSVs, the A-segment vehicles are expected to grow faster than LSVs or MSVs, due to their speed and power.
Strategic Overview of the North American Microelectric Vehicles Market is part of the Frost & Sullivan’s automotive and transportation growth partnership services programme.
By 2013, the total count of microelectric vehicles in North America is likely to increase to 150 types, with the introduction of 34 new base models. The microelectric vehicles market has gained momentum with five out of ten global vehicle manufacturers expected to enter the market as major stakeholders.
Medium-speed vehicles (MSVs) and city electric vehicles (CEVs) are expected to experience tremendous advancement, boosted by infrastructure development, primarily through sales to private consumers.
"The rising popularity of MSVs is affected by strict federal laws, which hinder the long-term sale and production of these vehicles," said Frost & Sullivan industry analyst Vishwas Shankar. "Currently, low-speed vehicles (LSVs), MSVs and A-segment vehicles are tackling this challenge by incorporating conventional engine variants with carbon dioxide emissions, thereby qualifying them for regional grants and benefits, including access to high occupancy vehicle lanes and parking charge exemptions."
This development has enabled the entire automotive industry to evolve into an era of microelectric vehicles, which also address parking space availability issues in crowded city centres. New age business models targeted at fleets could also help overcome challenges faced by the increasing sales of microelectric vehicles. Tax breaks will drive consumer sales, as tax credits will reduce vehicle prices by half, on certain low-priced models.
In North America, the focus on alternate fuel driven vehicles, the increasing cost of vehicle ownership and the presence of neighbourhood electric vehicles (NEVs) is expected to propel microelectric vehicle sales several fold. Although MSVs are expected to outshine LSVs, the A-segment vehicles are expected to grow faster than LSVs or MSVs, due to their speed and power.
Strategic Overview of the North American Microelectric Vehicles Market is part of the Frost & Sullivan’s automotive and transportation growth partnership services programme.
