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Pike: Hybrid Market Looks Promising Ahead

Over the next five years, the trucking industry can expect to see more heavy- and medium-duty hybrid trucks on the road, as the market for them is expected to grow from 9,000 units sold in 2010 to more than 100,000 in 2015, according to a new report by Pike Research.

Pike forecasts that a total of almost 300,000 hybrid trucks will be sold worldwide over this five-year period.

"Fleet managers are actively seeking tools to insulate themselves from growing fuel costs and increasingly stringent emissions regulations but at the same time they do not want to compromise on vehicle requirements," said Dave Hurst, senior analyst. "Many new hybrid truck designs introduced in the next few years hold strong potential to strike a balance between efficiency, cost, and performance."

According to Pike, hybrid vehicles can deliver a reduction in fuel consumption by between 5 and 50 percent, depending on design.

While North America is leading the market for hybrids now, the Asia Pacific is expected to surpass North America in 2011, driven by growth in both Japan and China. Pike Research forecasts that the U.S. will remain the largest singular market for hybrid trucks and buses between now and 2015, followed closely by China.

Pike said both hybrid and battery electric vehicles provide potential for the medium- and heavy-duty truck classes. Hybrid technology will be better suited to long-haul fleets with heavier loads, because of the need to contain the costs of the battery. Meanwhile, fleets that have a set delivery or commuter route will likely gravitate toward battery electric technology. Hurst does not expect to see significant numbers in the plug-in hybrid truck category, though the greatest source of interest in plug-in hybrid trucks will be from utility companies.

Pike Research's study, "Hybrid Trucks and Buses," analyzes the opportunities and challenges in the market for hybrid, plug-in hybrid, and battery electric medium- and heavy-duty trucks and buses.

For more information on the study, visit www.pikeresearch.com/research/hybrid-trucks-and-buses .

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