These days, hybrid-electric vehicles are much more than efficient grocery-getters. A new report from Pike Research tells us that this year we’ll be seeing more and more hybrid engines powering tractor-trailers, buses and garbage trucks.
The worldwide market for hybrid, plug-in hybrid and battery-powered medium and heavy duty trucks is predicted to grow 92 percent in 2012, with sales exceeding 19,000, according to Pike, which describes itself as a “cleantech market intelligence firm.”
Looking several years down the road, Pike expects the market to have an annual compound growth rate of 47.2 percent through 2017, achieving over 100,000 in truck sales by that year.
The firm says an improving economy and fleet owners’ goals of reducing fuel costs while touting environmentally friendly vehicles will make 2012 a year for strong growth.
“The performance of specific economic sectors will play a big role in the growth of electric drivetrains for trucks,” said Pike senior analyst Dave Hurst in a statement. “For 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.”
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