GITNUX MARKETDATA REPORT 2024

Electric Vehicles Industry Statistics

The Electric Vehicles industry is experiencing rapid growth, with global sales projected to reach 26 million vehicles by 2030.

Highlights: Electric Vehicles Industry Statistics

  • As of 2021, over 10 million electric vehicles (EVs) were in operation globally.
  • The global electric vehicle market was valued at USD 162.34 billion in 2019.
  • Sales of electric vehicles topped 2.1 million globally in 2019, that's a 40% year-on-year increase.
  • China has the largest electric vehicle market, with a market share of almost 50% in 2020.
  • In 2020, Tesla held a leading 16% market share among vehicle manufacturers in the electric vehicle market.
  • The residential charging segment dominated the EV charging infrastructure market with over 78.7% share in 2019.
  • As of April 2021, the Netherlands had the highest number of electric vehicle charging points in Europe.
  • By 2027, the electric vans market globally is predicted to surpass 1.7 million units.
  • In 2020, the global Electric Vehicle Supply Equipment market size was valued at $25.7 billion.
  • Norway has the highest market penetration per capita in the world, with over 54% of new car sales being electric vehicles in 2020.
  • In 2020, the electric truck market was expected to register a CAGR of over 14% during the forecast period (2021-2026).
  • By 2030, electric vehicles are projected to make up over 28% of the total vehicles on the road.
  • 72% of automotive executives believe that fuel cell electric vehicles will be the future of the automotive industry by 2025.
  • It is projected that, by 2040, 58% of new passenger vehicle sales will be electric.
  • By 2040, Electric Vehicles are expected to consume about 6.8% of total global electricity demand.
  • In the first quarter of 2021, electric vehicle sales increased year-over-year by 140% globally.
  • Plug-in hybrid electric vehicles (PHEVs) are expected to lose market share, dropping from 41% in 2020 to 24% in 2030.
  • The International Energy Agency predicts there will be 145 million electric vehicles on the road by 2030.
  • Electrified vehicles are expected to represent more than a third (35%) of light vehicles worldwide by 2040.

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The Latest Electric Vehicles Industry Statistics Explained

As of 2021, over 10 million electric vehicles (EVs) were in operation globally.

The statistic ‘As of 2021, over 10 million electric vehicles (EVs) were in operation globally’ indicates that there are more than 10 million EVs being used around the world as of the year 2021. This suggests a significant growth in the adoption of electric vehicles as an environmentally-friendly alternative to traditional gasoline-powered vehicles. The increasing popularity of EVs can be attributed to factors such as advancements in technology, government incentives, and a growing awareness of the need to reduce carbon emissions to combat climate change. This statistic highlights the global shift towards sustainable transportation and signals a promising trend towards a cleaner and greener future for the automotive industry.

The global electric vehicle market was valued at USD 162.34 billion in 2019.

The statistic indicates that the total value of the global electric vehicle market was estimated to be USD 162.34 billion in the year 2019. This value represents the total worth of all electric vehicles sold globally in that year, including cars, buses, trucks, and other types of electric vehicles. The market value reflects the growing popularity and demand for electric vehicles due to increased awareness of environmental sustainability, government incentives, and advancements in technology. This statistic highlights the significant market size and economic impact of electric vehicles in the transportation industry during the specified year.

Sales of electric vehicles topped 2.1 million globally in 2019, that’s a 40% year-on-year increase.

The statistic indicates that the global sales of electric vehicles reached over 2.1 million units in 2019, showing a significant 40% increase compared to the previous year. This growth suggests a rising trend in the adoption of electric vehicles across various markets. Factors such as increasing environmental awareness, government incentives, and advancements in electric vehicle technology have likely contributed to this surge in sales. The 40% year-on-year increase highlights the increasing acceptance and demand for electric vehicles as a sustainable transportation option, signaling a shift towards greener and cleaner modes of transportation on a global scale.

China has the largest electric vehicle market, with a market share of almost 50% in 2020.

The statistic “China has the largest electric vehicle market, with a market share of almost 50% in 2020” signifies China’s significant position in the global electric vehicle industry. This information indicates that nearly half of all electric vehicles sold worldwide in 2020 were in China, highlighting the country’s dominance in the market. The high market share suggests that China has made substantial investments and efforts to promote the adoption of electric vehicles, likely through supportive policies, incentives, and robust infrastructure development. This statistic underscores China’s leadership in the transition towards sustainable transportation and underscores the nation’s commitment to reducing carbon emissions and promoting environmental sustainability.

In 2020, Tesla held a leading 16% market share among vehicle manufacturers in the electric vehicle market.

The statistic states that in 2020, Tesla accounted for a significant portion of the electric vehicle market, specifically holding a market share of 16%. This indicates that Tesla was a dominant player among vehicle manufacturers producing electric cars during that time period. A 16% market share suggests that Tesla’s products were well-received by consumers and competitors in the industry. This statistic signals Tesla’s strength and influence in the electric vehicle market in 2020, positioning them as a leading brand in the industry.

The residential charging segment dominated the EV charging infrastructure market with over 78.7% share in 2019.

The statistic indicates that in 2019, the residential charging segment held a significant market share of over 78.7% in the electric vehicle (EV) charging infrastructure market. This suggests that the majority of charging infrastructure for EVs was located in residential settings, such as homes and apartment buildings. This dominance of residential charging highlights the importance of home charging solutions in supporting the growth and adoption of electric vehicles, providing convenience for EV owners to charge their vehicles overnight and encouraging the transition to cleaner transportation options.

As of April 2021, the Netherlands had the highest number of electric vehicle charging points in Europe.

As of April 2021, the statistic indicates that the Netherlands had the largest number of electric vehicle charging points in Europe, highlighting the country’s significant infrastructure for supporting electric vehicles. This statistic reflects the Netherlands’ proactive approach towards promoting sustainable transportation and reducing emissions by investing in a robust network of charging stations. The high number of charging points demonstrates the country’s commitment to fostering the adoption of electric vehicles and facilitating their widespread use, contributing to the overall shift towards cleaner and more environmentally friendly modes of transportation in Europe.

By 2027, the electric vans market globally is predicted to surpass 1.7 million units.

The statistic indicates a projection for the global electric van market to grow substantially by the year 2027, with an estimated total of over 1.7 million units. This prediction suggests a significant shift towards electric vehicle adoption in the transportation sector, driven by factors such as environmental concerns, government regulations, and advancements in electric vehicle technology. The increasing demand for cleaner and more sustainable modes of transportation is fueling the growth of the electric van market on a global scale. This statistic highlights the rapid pace at which the industry is evolving and underscores the potential for electric vans to play a key role in the future of transportation.

In 2020, the global Electric Vehicle Supply Equipment market size was valued at $25.7 billion.

The statistic indicates that the global Electric Vehicle Supply Equipment (EVSE) market had a total worth of $25.7 billion in the year 2020. This figure represents the value of the market for all equipment and infrastructure related to charging electric vehicles worldwide. The growth of the EVSE market is influenced by factors such as increasing adoption of electric vehicles, government incentives and regulations promoting clean transportation, and advancements in charging technology. The market size provides insight into the scale and economic importance of the EVSE industry, highlighting its significance in the broader context of the global transition towards sustainable transportation solutions.

Norway has the highest market penetration per capita in the world, with over 54% of new car sales being electric vehicles in 2020.

The statistic that Norway has the highest market penetration per capita in the world, with over 54% of new car sales being electric vehicles in 2020, indicates a remarkable shift towards sustainable transportation within the country. This high rate of adoption of electric vehicles signifies a strong commitment to reducing carbon emissions, enhancing air quality, and combating climate change. Norway’s infrastructure supporting electric vehicles, such as a well-developed charging network and government incentives, has played a pivotal role in driving this rapid growth. The statistic highlights Norway’s leadership in the global transition towards cleaner transportation and serves as an inspiration for other countries looking to accelerate their own shift towards sustainable mobility.

In 2020, the electric truck market was expected to register a CAGR of over 14% during the forecast period (2021-2026).

This statistic indicates that the electric truck market was anticipated to experience a Compound Annual Growth Rate (CAGR) of more than 14% from 2021 to 2026. A CAGR of 14% implies that the market size for electric trucks was projected to increase at an average annual rate of 14% over the forecast period. This growth rate suggests a strong positive trend in the adoption and demand for electric trucks, indicating a promising future for the electric vehicle industry. The forecasted CAGR signifies high growth potential and market opportunities in the electric truck sector over the specified period, with implications for stakeholders, investors, and policymakers to consider in their strategic planning and decision-making processes.

By 2030, electric vehicles are projected to make up over 28% of the total vehicles on the road.

The statistic stating that by 2030, electric vehicles are projected to make up over 28% of the total vehicles on the road indicates a significant shift in the automotive industry towards electrification. This projection underscores the growing popularity and adoption of electric vehicles due to factors such as increasing concerns about the environment, government incentives, improved technology, and infrastructure development. The shift towards electric vehicles is expected to have a transformative impact on transportation, reducing carbon emissions and dependence on fossil fuels. This statistic highlights the momentum of the electric vehicle market and suggests a rapid transition towards a more sustainable and environmentally friendly future in the automotive sector.

72% of automotive executives believe that fuel cell electric vehicles will be the future of the automotive industry by 2025.

The statistic indicates that 72% of automotive executives hold the belief that fuel cell electric vehicles (FCEVs) will become the dominant technology within the automotive industry by the year 2025. This suggests a high level of confidence in the future viability and widespread adoption of FCEVs among industry leaders. Such a strong consensus from key decision-makers within the automotive sector could potentially signify significant investment and strategic planning towards the development and commercialization of FCEVs over the coming years. However, actual market dynamics and technological advancements will ultimately determine whether this prediction comes to fruition within the specified timeframe.

It is projected that, by 2040, 58% of new passenger vehicle sales will be electric.

The statistic states that by the year 2040, it is expected that 58% of the total sales of new passenger vehicles will be electric vehicles. This projection indicates a significant shift in the automotive industry towards more sustainable and environmentally friendly transportation options. The increasing popularity and advancements in electric vehicle technology, coupled with efforts to reduce carbon emissions and combat climate change, are driving this trend. This statistic underscores the growing importance of electric vehicles in the market and suggests that there will be a substantial increase in the adoption of electric cars over the next two decades.

By 2040, Electric Vehicles are expected to consume about 6.8% of total global electricity demand.

The statistic “By 2040, Electric Vehicles are expected to consume about 6.8% of total global electricity demand” suggests that the adoption and utilization of electric vehicles will have a significant impact on the overall electricity consumption on a global scale by 2040. This implies that as more electric vehicles are integrated into transportation systems worldwide, there will be a commensurate increase in the demand for electricity to power these vehicles. The projection of electric vehicles consuming approximately 6.8% of total global electricity demand by 2040 highlights the need for adequate infrastructure and planning to support this transition towards electric mobility while also underscoring the potential benefits in terms of reduced greenhouse gas emissions and environmental sustainability.

In the first quarter of 2021, electric vehicle sales increased year-over-year by 140% globally.

The statistic indicates that in the first quarter of 2021, the number of electric vehicles sold worldwide was 140% higher than in the same period of the previous year. This significant increase suggests a rapidly growing interest and adoption of electric vehicles on a global scale. Factors such as advancements in technology, increasing environmental awareness, government incentives, and a growing infrastructure for electric vehicles may have contributed to this substantial year-over-year growth in sales. This statistic highlights a clear shift towards electrification in the automotive industry as consumers and policymakers alike embrace a more sustainable transportation option.

Plug-in hybrid electric vehicles (PHEVs) are expected to lose market share, dropping from 41% in 2020 to 24% in 2030.

The statistic indicates a significant decline in market share for plug-in hybrid electric vehicles (PHEVs) over the course of the next decade. In 2020, PHEVs held a substantial 41% share of the market, but this is projected to decrease to 24% by 2030. This trend suggests a shift in consumer preferences and the increasing competition from other types of electric vehicles like battery electric vehicles (BEVs) or fuel cell electric vehicles (FCEVs). Factors influencing this market share decline may include advancements in technology, evolving consumer demands for longer range and more sustainable options, as well as changes in government policies promoting alternative energy vehicles. It is important for industry stakeholders to monitor these trends and adapt their strategies accordingly to stay competitive in the evolving electric vehicle market landscape.

The International Energy Agency predicts there will be 145 million electric vehicles on the road by 2030.

The statistic stating that the International Energy Agency predicts there will be 145 million electric vehicles on the road by 2030 indicates a significant rise in the adoption of electric vehicles globally over the next decade. This projection suggests a growing trend towards sustainable transportation solutions and a shift towards reducing greenhouse gas emissions from the transportation sector. It highlights the increasing support for electric vehicles as a key strategy in mitigating climate change and achieving environmental targets. The forecast also indicates potential opportunities and challenges for the automotive industry, infrastructure development, and energy production to support the rapid growth of electric vehicles worldwide.

Electrified vehicles are expected to represent more than a third (35%) of light vehicles worldwide by 2040.

This statistic suggests that electrified vehicles, which include electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs), are anticipated to account for a significant portion of the global light vehicle market by the year 2040. Specifically, it predicts that these types of vehicles will make up more than one-third (35%) of all light vehicles in circulation worldwide by that time. This projection reflects a growing trend towards the adoption of electric and electrified vehicles due to increasing awareness of environmental issues, advancements in technology, government incentives, and shifts in consumer preferences towards sustainability. The expected surge in electrified vehicles indicates a potential transformation in the automotive industry over the next two decades, with implications for infrastructure development, energy consumption, and greenhouse gas emissions.

Conclusion

The statistics within the electric vehicles industry showcase a clear shift towards sustainable transportation options. With rising sales, increased investments in infrastructure, and advancements in technology, the future of electric vehicles looks promising. It is evident that consumers and governments alike are recognizing the importance of transitioning towards cleaner energy sources, highlighting the significant growth potential for electric vehicles in the coming years.

References

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How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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