The global plug-in vehicle market represents 17.1 million vehicles (passenger cars + light utility vehicles) in 2024
- The global plug-in vehicle (BEV and PHEV) market is projected to reach 17.1 million units in 2024, up from 13.7 million in 2023, a 24.8% increase compared to 2023. This volume represents 19% of global registrations in 2024, up from 15% in 2023.
- These 17.1 million vehicles are broken down into 10.5 million BEVs and 6.6 million PHEVs.
- China alone accounts for 70% of BEV and PHEV sales, or 12.1 million vehicles in 2024 (compared to 8.9 million in 2023), an increase of 36% compared to 2023.
- Europe, for its part, represents 17% of the global plug-in market, or 2.95 million vehicles in 2024 (compared to 3.02 million in 2023), down 2.3% compared to 2023.
- The United States, for its part, represents 9%, or 1.59 million vehicles in 2024 (compared to 1.48 million in 2023), an increase of 7% compared to 2023.
- Japan accounts for only 1%, or 118,000 vehicles in 2024 (compared to 138,000 in 2023), down 15% from 2023.
- The rest of the world accounts for 3% of the plug-in market, or around 300,000 vehicles in 2024 (compared to around 200,000 in 2023), up around 50% from 2023.
- Inovev expects a BEV and PHEV market share of 24% or 25% worldwide by 2025.