Sales of electric cars will continue their “explosive growth” this year and will reach almost a fifth of the global market, the International Energy Agency (IEA) said on Wednesday. The underlying trend towards the electrification of the car fleet will have major implications for the energy sector, reducing oil demand by 5 million barrels per day (mb/d) by 2030, the IEA said in a report on the subject. The forecast for total oil demand in 2023 is 101.9 mb/d.
According to this work, in 2022 more than 10 million electric cars were sold worldwide, “and sales are expected to grow another 35% this year to reach 14 million” units.
“This explosive growth means that the market share of electric cars has gone from 4% in 2020 to 14% in 2022 and is expected to increase further to 18% this year”, according to the latest projections of the international agency, based in Paris. .
Growth driven by the Chinese, American and European markets
It is in the world’s leading markets in terms of new car volumes where electric cars are making their way the fastest, the IEA points out: China, the United States and Europe. The former Middle Kingdom has taken a step forward: almost two out of three electric cars in the world are now sold there, and its factories dominate the sector of batteries and the components needed to manufacture them. At a time when environmental regulations are becoming stricter and the European Union plans to ban the sale of thermal cars by 2035, the IEA expects the market share of electric cars to reach 60% in these three geographical areas for 2030.
Beyond these large markets, the IEA sees encouraging trends for “zero-emissions” direct individual mobility within other countries: “Electric car sales tripled in India and Indonesia last year, even if they started from a modest base , and more than doubled in Thailand.” .
IEA director Fatih Birol said the rapid emergence of electric cars was causing “a historic transformation in global auto manufacturing.” This trend “will have important implications for global oil demand,” he warned: electric cars “will erase by 2030 a need for at least five million barrels of oil per day,” especially since after passenger cars, “coaches will follow.” and electric trucks. “.
Source: BFM TV
