Light Duty Electric Vehicle Forecast: 74,000+ by 2024

Electric Vehicle Forecast

 

A new research report estimates that Canada will have between 74,000 and 91,000 light duty (LD) plug-in electric vehicles (PEVs) on the road by 2024. In the U.S., between 860,000 and 1.2 million.

According to the Navigant Research report, Electric Vehicle Geographic Forecasts, North America is the strongest market so far for light duty (LD) plug-in electric vehicles (PEVs), with more than 133,000 sold in 2014. The report provides plug-in electric vehicle sales forecasts for North America by state/province, metropolitan area, city, and selected utility service territory.

Currently, PEV sales are concentrated in California, where the vehicles already account for over 3% of the state’s total LD vehicle market. State incentives,alongside the mandates of the California Zero Emission Vehicle (ZEV) Program, will likely continue to push PEV penetrations in the state to between 15% and 22% by 2024. Other ZEV Program participating states are expected to see similar growth. Outside of the ZEV states, PEV sales will grow most quickly in jurisdictions with large vehicle markets, high PEV incentives, well-developed infrastructure, and a high PEV index.

This Navigant Research report provides data and forecasts for LD PEV sales in North America, including U.S. states, metropolitan statistical areas (MSAs), and utility service territories and Canadian provinces and cities. The study estimates the number of vehicles that will be in use in specific geographic locations and assesses the potential impacts of anticipated PEV penetration in the most active PEV markets. Market forecasts for LD PEV sales and vehicles in use, segmented by scenario and geographic area, extend through 2024. The study also provides analysis of Navigant Research’s EV Consumer Survey, which was used to develop the PEV demographic profile.

Key questions addressed:

• Which states, provinces, and cities in North America are most likely to have the largest penetration of plug-in electric vehicles (PEVs)?

• Which metropolitan statistical areas (MSAs) and cities have demographic profiles that match the typical PEV owner demographics in the U.S. and Canada?

• What is the projected size of the North American PEV market over the next 10 years and where will sales grow the fastest?

• How many vehicles will electric utilities have to prepare for in the future?

• What are the vehicle style preferences of PEV prospects?

• What are the anticipated vehicle purchase costs of PEV prospects?

Find out more: https://www.navigantresearch.com/research/electric-vehicle-geographic-forecasts.

 

Related Articles


Latest Articles

  • ESA has Identified Increasing Safety Concern Surrounding Meter Base Installations

    ESA has Identified Increasing Safety Concern Surrounding Meter Base Installations

    April 18, 2025 ESA and EFC are raising awareness on an increasing safety concern the ESA has identified surrounding meter base installations. ESA identified an increase of installed meter bases where the neutral block is isolated from the enclosure. According to OESC Rule 10-210 a bonding conductor must be installed between the meter base and… Read More…

  • Non-residential Construction Investment Continues to Reach Record Highs in January 2025

    Non-residential Construction Investment Continues to Reach Record Highs in January 2025

    April 18, 2025 Overall, investment in building construction rose 1.8% (+$393.7 million) to $22.1 billion in January. The residential sector increased 2.3% to $15.4 billion, while the non-residential sector was up 0.8% to $6.7 billion. Year over year, investment in building construction grew 5.7% in January. On a constant dollar basis (2017=100), investment in building construction increased 1.5% from the previous month to $13.2 billion… Read More…

  • BC Non-Residential Drives Growth, Multi-Family Component Drives Residential Decline in February Building Permits

    BC Non-Residential Drives Growth, Multi-Family Component Drives Residential Decline in February Building Permits

    April 18, 2025 In February, the total value of building permits issued in Canada increased by $371.3 million (+2.9%) to $13.1 billion. Gains in construction intentions were led by British Columbia’s non-residential sector. On a constant dollar basis (2017=100), the total value of building permits issued in February grew 3.2% from the previous month and was up 5.6% on… Read More…

  • Navigating Tariffs: Practical Strategies for ECABC Members

    Navigating Tariffs: Practical Strategies for ECABC Members

    April 18, 2025 Canadian businesses are facing uncertain and unprecedented risks created by tariffs on Canadian goods from the United States. The combination of the economic impact to BC’s economy from these tariffs, and the potential increase in the cost of construction materials and equipment as Canada is forced to respond with retaliatory tariffs, has… Read More…


Changing Scene

  • Ontario Introduces Legistlation to Unlock Trade and Labour Mobility Within Canada

    Ontario Introduces Legistlation to Unlock Trade and Labour Mobility Within Canada

    April 18, 2025 As a next step in its plan to protect Ontario by unleashing the province’s economy, the Ontario government is introducing the Protect Ontario through Free Trade within Canada Act to unlock free trade and labour mobility within Canada. This legislation will, if passed, create new opportunities for job creation and investment attraction, supporting economic… Read More…

  • Ontario, P.E.I. Join Nova Scotia With Legislation to Remove Internal Trade Barriers

    Ontario, P.E.I. Join Nova Scotia With Legislation to Remove Internal Trade Barriers

    April 18, 2025 Prince Edward Island and Ontario have joined the Nova Scotia by introducing reciprocal legislation that will help foster an environment of mutual recognition of goods, services and labour mobility between these provinces. “Leaders across the country are expressing interest in removing trade barriers, and I’m very pleased that P.E.I. and Ontario have… Read More…

  • New Brunswick Signs MOU with Ontario to Reduce Trade and Labour Mobility Barriers

    New Brunswick Signs MOU with Ontario to Reduce Trade and Labour Mobility Barriers

    April 18, 2025 The governments of New Brunswick and Ontario have signed a memorandum of understanding on free trade and labour mobility. “Ontario is New Brunswick’s second-biggest trading partner, and we are excited to be building on the positive momentum to reduce internal trade barriers across Canada,” said Premier Susan Holt. “Today’s signing of this… Read More…

  • EFC Welcomes New Manufacturer Member: MegaResistors Corp.

    EFC Welcomes New Manufacturer Member: MegaResistors Corp.

    April 18, 2025 Founded in 2008, MegaResistors is a proudly Canadian company specializing in the design and production of high-quality power resistors, including grounding resistors, braking resistors and resistive load banks, tailored for demanding industry and mission critical applications. Their extensive line of products helps them meet the needs of the industry, from crane control… Read More…