President Obama is putting a lot of emphasis during his term on moving America towards greener vehicles to reduce pollution and the need for foreign oil. Key vehicle technologies that will help enable us to make the move are hybrid and electric vehicles. Growth in both of those vehicle markets is set to boom over the next five years.

Pike Research has announced a new report that looks at the growth of the battery power electric (BEV) and plug-in electric hybrid vehicle (PEHV) market over the next five years from 2010 to 2015 and how that market will grow around the world. According to the research firm, over the next five years China will emerge as the top adopter of PEHV and BEVs with 3.2 million sold over that period for an annual compounded growth rate of 106 percent.

Coming in a close second for the same period according to Pike Research will be the United States. The research firm estimates that in the U.S. 841,000 of these vehicles will be sold accounting for 26 percent of the global market. China by comparison is expected to move 880,000 PEHVs and BEVs for 27 percent of the global market.

“PHEVs and BEVs will complement, rather than displace, the market for conventional hybrid electric vehicles,” says senior analyst Dave Hurst.  “Electric vehicles will follow the lead of hybrids and will be launched in the small car segment for consumer markets initially, with the small SUV segment close behind.  Because of their low weight and good aerodynamics, smaller vehicles are far more efficient to better extend the electrically powered driving range, and the smaller vehicle segments also allow the use of a smaller, less expensive battery.”

Vehicles that use battery power to extend fuel economy and reduce emission are close to becoming available in the U.S. and have made a big splash with green consumers. The Chevrolet Volt extended range electric vehicle was finally given a retail price in July of $41,000 before the $7,500 Federal Tax credit.

Nissan also has an electric vehicle coming to market called the Leaf. The entire first years production of the Leaf was sold out. Nissan promises that the Leaf is good for up to 100 miles with a full battery charge under optimal conditions.