Top insights for Electric Vehicles Markets:
Global EV sales forecast to rise from 2.3m in 2019 to circa 10m in 2025 driving a 3x
increase in total lithium chemical demand.
Global EV sales (excluding two/three-wheelers) reach 12 million in 2025 and nearly
23 million in 2030, increasing on average by 21% per year.
Electrification will drive an increase in the number of new and upgraded Grid Exit
Points required to meet rapid EV uptake.
In the IEA New Policies Scenario (NPS) derived from existing climate commitments,
electricity demand from the global EV fleet reaches almost 640 TWh in 2030, while
in the more ambitious EV30@30 scenario, where EVs account for 30% of car sales by 2030,
electricity demand reaches 1,110 TWh by 2030.
When sales of new hybrid-electric vehicles are included, EV sales totaled 705,000,
making up 4.2% of all new light-duty vehicle sales in 2018.
By our estimates, the total global EV passenger vehicle fleet reached around 8m
vehicles at the end of 2019 with new sales in 2019 being about 2.5m vehicles
(or 2.8% of global passenger vehicle sales).
BMI expects lithium- ion battery manufacture to grow materially in coming years
due to the expected expansion of the EV market and to a lesser extent anticipated
greater use of battery storage for renewable energy sources and portable devices
such as laptops and mobile phones.
Overview per country:
- China: According to the Chinese Automotive Manufacturers Association, EV sales
reached 1.206 million in 2019, around 4% lower than in 2018 and 20% lower than
China's target for the year.
- China: China will lead EV transition, with sales accounting for almost 50% of
the global EV market in 2025.
- Europe: In the EU, between 2010 and 2017, sales of EV amounted to approximately
681,000 units, of which approximately 217,500 were sold in 2017.
- US: Although EV sales increased at a compound annual rate of nearly 29 percent
between 2012 and 2019, units sales were only 320,000 in 2019--down from 356,000
in 2018 and a mere 1.8 percent of total new car sales.
Top view datapoints for Electric Vehicles Markets:
View More Insights
- European Electric Vehicle Registrations by Country, 2014-2019
- European Electric Vehicle Registrations Forecast by Country, 2020-2024
- Electric Vehicles Sales in the US, 2011-2019
- Electric Vehicles Sales Forecast in the US, 2020-2024
- European Battery Electric Vehicle Registrations by Country, 2014-2019
- European Battery Electric Vehicle Registrations Forecast by Country, 2020-2024
- Number of Electric Passenger Cars in Europe by Country, 2012-2019
- Forecast Number of Electric Passenger Cars in Europe by Country, 2012-2019