Demand for e-cars continues to rise worldwide. The International Energy Agency expects its share of the global auto market to reach 18 percent this year.
Global electric car sales are expected to set another record this year. According to calculations by the International Energy Agency (IEA), their share of the entire car market is likely to rise to almost a fifth. For 2023, the experts expect sales to increase by 35 percent to a total of 14 million electric cars. Last year, more than ten million electric cars were sold worldwide.
“Electric vehicles are one of the driving forces in the new global energy economy that is rapidly emerging – and they are creating historic change in the automotive industry worldwide,” said IEA Director Fatih Birol. “The trends we are observing have significant implications for global oil demand.” By 2030, e-mobility will avoid the need for at least five million barrels of oil per day. Cars are just the first wave, followed by electric buses and trucks.
US sales up 55 percent
While e-cars still had four percent of the entire car market in 2020, their share has already risen to 14 percent in 2022. According to the latest IEA forecasts, their share is likely to grow further this year to 18 percent. Electric car sales have so far been concentrated in China, Europe and the United States, according to the IEA.
The front runner is China, where more than half of all electric cars worldwide drive. Europe and the United States — the second and third largest auto markets — both saw strong growth, with sales up 15 and 55 percent, respectively, last year.
Sales figures are also increasing in countries such as India, Indonesia and Thailand. In addition, sales of two-wheelers and three-wheelers with electric drives are picking up, especially in the emerging countries.
Big part of battery production in China
The trend also has positive effects on battery production, according to the IEA report. However, this remains highly concentrated, with China dominating the trade in batteries and components, increasing its share of global electric car exports to over 35 percent last year.