According to calculations by the International Energy Agency IEA, global sales of electric cars will set another record this year. Their share of the total car market will rise to almost a fifth, the IEA announced on Wednesday in its annual report on e-mobility in Paris.
According to this, more than ten million electric cars will be sold worldwide by 2022. This year sales are expected to increase by 35 percent to 14 million electric cars.
According to the latest IEA forecasts, the electric share of the total car market will increase from 4 percent of the total car market in 2020 to 18 percent this year. In 2022 it was 14 percent.
E-cars reduce the need for oil
“Electric vehicles are one of the driving forces in the new global energy economy that is emerging rapidly – and are driving historic changes in the automotive industry worldwide,” said IEA Executive Director Fatih Birol. “The trends we observe have a significant impact on global oil demand.”
By 2030, e-mobility will ensure that no more than five million barrels of oil are needed per day. Cars are just the first wave, followed by electric buses and trucks.
China leader
According to the IEA, electric car sales have so far been concentrated in China, Europe and the United States. The leader is China, where more than half of all electric cars worldwide are currently in use. Europe and the United States, the second and third largest markets, both experienced strong growth with sales increasing by 15 and 55 percent respectively in 2022.
There is also increasing sales in countries such as India, Indonesia and Thailand, albeit from a low ebb. In emerging and developing countries, sales of two-wheelers and three-wheelers with electric drive are also increasing.
The encouraging trends would also have a positive effect on battery production, the IEA report said. However, this remains highly concentrated, with China dominating the battery and parts trade, increasing its share of global EV exports to more than 35 percent last year.
5 of the 10 largest BEV sellers are Chinese. Tesla, BYD, VW represented 38% of the global demand for these vehicles. Note the difference in position in the ranking of Chinese OEMs between BEV and the overall ranking.
Source: OEMs, estimates#automotive industry analysis #felipemunoz #automotive #possible pic.twitter.com/VqCmrzRhUP— Automotive industry analysis (@lovecarindustry) April 24, 2023
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Source: Watson
I’m Ella Sammie, author specializing in the Technology sector. I have been writing for 24 Instatnt News since 2020, and am passionate about staying up to date with the latest developments in this ever-changing industry.
