New report: Electric cars, buses, boats will be everywhere by 2026
I've been documenting my experiences with a used Nissan Leaf, and I often reflect on just how quickly electric vehicles are becoming a mainstream transportation option. True, they are still a rare sight compared to their gas and diesel counterparts, but I am no longer surprised to see several Leafs, Teslas and Volts each time I leave my home. (It does help that my neighbor over the road drives a Volt.)
If a new report from the analysts at IDTechEx Research is to be believed, it looks like this trend is set to not only continue—but increasingly it will accelerate and expand into all sectors of the transportation industry including industrial vehicles, boats, planes, buses and more.
According to Business Green's write up of the report, the growth between now and 2026 will be "breakneck"—with the total market eventually reaching $500bn by 2026.
Interestingly, given how much we TreeHuggers prefer electric buses and worry that electric cars still perpetuate bad planning, the report sees much of the growth (and profitability) coming from industrial and commercial electric vehicles as more cities aim to tackle chronic air pollution.
The report also suggests that commercial and industrial markets will be less vulnerable to policy changes than electric cars which, for now at least, are still fairly dependent on tax breaks and/or subsidies to compete with their gas-fueled counterparts. (Of course, this wouldn't be the case if the price of gas matched its true cost...)