1/23/2012 12:00:00 PM
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Sales of hybrid and battery electric heavy- and medium-duty trucks will nearly double worldwide this year, and more than 100,000 will be on roadways by 2017, a research group said.
Pike Research said the combination of a growing truck market and rising fuel prices will convince more fleets to purchase hybrids or all-electric vehicles.
â€œThe worldwide market for hybrids and plug-ins will grow at 92% in 2012, with total sales surpassing 19,000,â€� the firm said Jan. 12.
Pike Research, Boulder, Colo., describes itself as a market research and consulting firm.
The company said that it â€œexpects the market to experience a compound annual growth rate of 47.2% between 2011 and 2017, reaching 100,746 truck sales by the end of that period.â€�
â€œThe performance of specific economic sectors will play a big role in the growth of electric drive-trains for trucks,â€� said Pike senior analyst Dave Hurst.
â€œFor example, as the retail industry rebounds, pick-up and delivery vehicle sales will rebound with it. This in turn will have a positive impact on the hybrid, plug-in, and battery electric truck markets, as well,â€� Hurst said in a statement.
Fleets that want to demonstrate their concern in protecting the environment and government regulations will also help sales, the report said.
â€œDriving sales of these vehicles will be fleet ownersâ€™ desire to demonstrate that their vehicles are more environmentally friendly than competitorsâ€™ fleets, and government emission regulations that have a bottom-line cost impact on fleet operators,â€� the statement said.
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