Significant growth in the global electric vehicle market


The International Energy Agency announced Wednesday that electric vehicle sales will continue their “significant growth” this year, reaching nearly a fifth of the global market.
The agency said in a report on this subject that the current trend towards the use of electric cars will have major repercussions on the energy sector, as the demand for oil will decrease by five million barrels per day by 2030. The forecast for oil demand in 2023 is 101.9 million barrels per day. According to this study, more than 10 million electric cars were sold in the world in 2022, and “sales are expected to increase further this year by 35%, to reach 14 million cars.”
According to the latest forecasts of the Paris-based international agency, “this significant growth means that the market share of electric vehicles has increased from 4% in 2020 to 14% in 2022 and is expected to increase further to 18% this year.”
Electric cars are spreading faster in the first global markets in terms of the volume of new car sales, which are China, the United States and Europe, according to the International Energy Agency.
China leads this market, as two out of three electric cars are sold in the world, and its factories dominate the battery sector and the components needed to manufacture them.
At a time when environmental rules are becoming stricter and the European Union plans to ban the sale of thermal cars by 2035, the International Energy Agency sees the market share of electric vehicles reaching 60% in these three geographies by 2030.
Beyond these major markets, the International Energy Agency noted encouraging trends in “zero emissions” personal mobility in other countries: “EV sales tripled in India and Indonesia last year even if from a modest start, and more than doubled in Thailand.” .
The director of the International Energy Agency, Fatih Birol, said the rapid emergence of electric cars had caused a “historic shift in the global automotive industry”.
And he warned that this trend “will have important repercussions on the global demand for oil.” Electric cars “will eliminate, in 2030, the need for at least five million barrels of oil per day,” especially since, after individual cars, “the turn of buses and electric trucks will come.”


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