What could be the share of BEVs and PHEVs in 2025, 2030 and 2035 in the world?
- In terms of global sales forecasts for BEVs and PHEVs in 2025, 2030, and 2035, the big questions are whether electrification will progress to the point where these vehicles hold an absolute majority share of their respective markets, as suggested by the governments of market-ready countries, and whether the share of BEVs and PHEVs sales will be equal in China, Europe, India, Japan, and the US.
- Inovev projects a global BEVs and PHEVs sales share of 33% in 2030 and 60% in 2035 (up from 17% in 2022).
- For 2022, the global market level will be close to 12 million BEVs and PHEVs, according to Inovev. China is expected to have 7 million vehicles, the U.S. 1 million, Europe 2.5 million, Japan 400 000, India 100 000, and the remaining regions 800 000.
- In 2025, Inovev forecasts a global market of 18 million BEVs and PHEVs, including 10 million vehicles in China, 2 million in the U.S., 4.5 million in Europe, 700 000 in India, and 800 000 in Japan. That leaves 1 million in the remaining regions.
- In 2030, Inovev forecasts a global market of 26 million BEVs and PHEVs , including 15 million vehicles in China, 4,5 million in the U.S., 7 million in Europe, 1.2 million in India, and 1.3 million in Japan. That leaves 1 million in the remaining regions.
- For 2035, Inovev projects a global market of 48 million BEVs and PHEVs , including 25 million vehicles in China, 9 million in the U.S., 10 million in Europe, 2 million in India, and 2 million in Japan. Rest 2 million in the other regions.
- These scenarios take into account that a large part of the customers accept the public decisions to electrife vehicles in Europe and US markets, but for instance, the targets of the European Commission are still not likely to be reached by 2035, but rather by 2040.