Frost & Sullivan predictions for 2014 global powertrain and EV Market
The Future of the Global Powertrain and Electric Vehicles Market — 2014 Outlook conference takes place on Wednesday, 2nd April 2014, at 4.00 pm BST. Frost & Sullivan will provide a global outlook of the passenger vehicle powertrain and electric vehicle landscape in 2014. Industry Analyst, Yeswant Abhimanyu, together with Principal Consultant, Edward Hanawalt, will reveal how the overall diesel market share in Europe is to decline by about 0.5-2.0 percent in 2014.
“The diesel share in many key European markets has witnessed a decline in 2013,” outlines Abhimanyu. “Of profound importance was France—traditionally a diesel powertrain fortress—where the diesel market share had fallen almost 6 percent to about 67 percent in 2013, reaching the level it was almost a decade ago. Amongst other key markets, Norway, Sweden, and Belgium also witnessed a decline of more than four percent each.”
“The CNG market in Italy, Germany, and Sweden will grow this year. Local incentives and support, comparatively better refuelling infrastructure, and a push by local OEMs are amongst the key drivers for the expected growth,” Abhimanyu continues.
2014 diesel markets outside of Europe, in India and US are expected to grow based on economic and political dynamics. While the market in India last year witnessed accelerated growth to about 53%, its sustained increase will depend largely on fuel prices, diesel deregulation status, and outcome of the 2014 General Elections can’t be sidelined.
“The increase in cost of diesel powertrains with additive technologies economically challenges the uptake of price sensitive A- and B-segment vehicles,” Abhimanyu concludes. “The fact that these segments currently account for more than 30 percent of the total vehicle sales in Western Europe further magnifies the reasons for decline in diesel share. As a consequence, vehicles not only experience reduced market competition but also a decline in consumer interest, resulting in OEMs going to the extent of removing/reducing their diesel variant vehicle portfolio.”